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Banking and Insurance GK, Indian Economy GK,

Multiple Choice Questions on Economics GK

Question 1 : Who said Supply creates its own demand?

A. Ricardo

B. Marshall

C. J. B. Say

D. Adam Smith

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Question 2 : Who estimated the National Income for the first time in India?

A. Sardar Patel

B. VKRV Rao

C. Dadabhai Naoroji

D. Mahalanobis

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Question 3 : Who coined the term Hindu rate of growth for Indian economy?

A. Montek Singh Ahluwalia

B. Raj Krishna

C. Kirit S. Parikh

D. A.K. Sen

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Question 4 : Which one of the following is NOT an example of indirect tax?

A. Expenditure tax

B. Customs duty

C. Sales tax

D. Sales tax

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Question 5 : Which one among the following is?not?a clause of World Trade Organization?

A. Discouraging unfair trade practices such as anti-dumping and export subsides

B. Providing financial support to the countries having deficit balance of payments

C. Lowering trade barriers with negotiations

D. Most favoured nation treatment

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Question 6 : Which one among the following is not true for Special Economic Zones?

A. No routine examination of cargo for export/import by customs authorities

B. No permission for subcontracting

C. Manufacturing and service activities are allowed

D. No licence is required for import

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Question 7 : Which of the following most closely approximates our definition of oligopoly?

A. Wheat farmers

B. The gasoline stations

C. The barber shops

D. The cigarette industry

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Question 8 : Which of the following is not a necessary condition for the development of India?

A. Technological development

B. Population growth

C. Resource discovery

D. Capital accumulation

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Question 9 : Which is the biggest tax paying sector in India?

A. Banking Sector

B. Transport sector

C. Industrial sector

D. Agricultural sector

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Question 10 : When there is an official change in the exchange rate of domestic currency, then it is called

A. Deflation

B. Revaluation

C. Depreciation

D. Appreciation

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Question Listed : Economics,

Question 11 : When the productive capacity of the economic system of a State is inadequate to create sufficient number of jobs, it is called

A. Cyclical unemployment

B. Disguised unemployment

C. Structural unemployment

D. Seasonal unemployment

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Question 12 : The terms Micro Economics and Macro Economics were coined by

A. J.M. Keynes

B. Ragner Frisch

C. Ragner Nurkse

D. Alfred Marshall

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Question Listed : Economics,

Question 13 : The term stagflation refers to a situation where

A. Rate of growth is slower than the rate of price increase

B. Rate of growth is faster than the rate of price increase

C. Rate of growth and prices both are decreasing

D. Growth has no relation with the change in prices

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Question 14 : The TEAM-9 initiative is a techno economic cooperation venture between India and eight countries of

A. Central Africa

B. North Africa

C. East Africa

D. West Africa

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Question 15 : The purchase of shares and bonds of Indian companies by Foreign Institutional Investors is called?

A. Foreign Indirect Investment

B. NRI Investment

C. Portfolio Investment

D. FDI

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Question Listed : Economics,

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