Top 50 Economics MCQS part:1


1) IN WHICH YEAR FIRST FIVE YEAR PLAN WAS LAUNCHED ?

(a) 1950

(b) 1951

(c)  1952

(d) 1953 

Ans)(b) 1951

2) WHICH AMONG THE FOLLOWING IS THE BRANCH OF ECONOMICS THAT DEALS WITH THE PERFORMANCE, STRUCTURE, AND BEHAVIOR OF THE ECONOMY OF THE ENTIRE COMMUNITY, EITHER A NATION, A REGION, OR THE ENTIRE WORLD ?

(a) Heterodox approaches

(b) Micro Economics

(c) Macro Economics

(d) All of the above

Ans)(c) Macro Economics

3) WHICH AMONG THE FOLLOWING CAN BE CALLED A BALANCED BUDGET ?

(a) Total Revenue of the Government Exceeding Total Expenditure

(b) Total Expenditure of the Government Exceeding Total Revenue

(c) Total Revenue of the Government exactly equal to total Expenditure

(d) Total Expenditure of the Government exceeding or equal to Total Revenue

Ans)(c) Total Revenue of the Government exactly equal to total Expenditure

4) WHICH AMONG THE FOLLOWING DOES NOT COME UNDER THE MONETARY POLICY FOR REGULATING THE ECONOMY ?

(a) Discount rate

(b) Government spending

(c) reserve requirement

(d) Open market Operations

Ans)(b) Government spending

5) WHO AMONG THE FOLLOWING WILL BE BENEFITED BY DEFLATION ?

(a) Salary Earners

(b) pensioners

(c) Equity Holders

(d) Debtors

Ans)(a) Salary Earners

6) WHICH AMONG THE FOLLOWING IS A MONEY MARKET INSTRUMENT OF SHORTEST TENURE ?

(a) Notice money

(b) Call money

(c) Near Money

(d) Term Money

Ans)(b) Call money

7) THE BUSINESS TRANSACTIONS DONE IN LIEU OF WHICH OF THE FOLLOWING WOULD BE CALLED INVISIBLE TRADE?

1. CONSULTING

2. INCOME FROM FOREIGN INVESTMENT

3. SHIPPING SERVICES

4. TOURISM

Select the correct option from the codes given below:

(a) Only 1 & 2

(b) Only 2 & 3

(c) Only 3 & 4

(d)  1, 2, 3 & 4

Ans)(d) 1, 2, 3 & 4

8) WHAT IS THE OBJECTIVE OF THE CENTRAL GOVERNMENT IN CREATING THE “NON-LAPSABLE CENTRAL POOL OF RESOURCES” ?

(a) To provide development funding in Naxalite affected areas

(b) To provide additional development grant to most backward 200 districts all over country

(c) To provide time to time fiscal stimulation to the economy

(d) To provide development funding to North East and Sikkim

Ans)(d) To provide development funding to North East and Sikkim

9) WHICH AMONG THE FOLLOWING IS THE GUIDING PRINCIPLE OF THE CONCEPT OF MOST FAVOURED NATIONS ?

(a) that every nation has a preferred trading partner

(b) that nations should cooperate with other nations that cooperate with them

(c) non-discrimination among trading partners

(d)  that each nation should be able to decide what other nations it prefers as trading partners

Ans(c) non-discrimination among trading partners

10) WHERE WAS THE 1ST COTTON MILL ESTABLISHED IN INDIA ?

(a) Bombay

(b) Madras

(c) Calcutta

(d) Hyderabad

Ans)(a) Bombay

11) WHICH OF THE FOLLOWING IS USED BY RBI FOR STERILIZATION OF THE CAPITAL INFLOWS ?

(a) Base Rate System

(b) CRAR Obligations

(c) Open Market Operations

(d) Credit Authorization Scheme

Ans)(c) Open Market Operations

12) WHICH AMONG THE FOLLOWING IS THE PRIMARY DIFFERENCE BETWEEN A FREE TRADE AREA AND A CUSTOMS UNION ?

(a) members of a free trade area adopt a common set of barriers for trade between the members

(b) a free trade area is considered a trade bloc and a customs union is not

(c) members of a customs union adopt a common set of external trade barriers

(d) a free trade area can include parts of a country and a customs union includes entire countries

Ans)(c) members of a customs union adopt a common set of external trade barriers

13) WORLD BANK HAS RECENTLY CLASSIFIED INDIA INTO :

(a) Lower income economy

(b) High-income economy

(c) Middle-income economy

(d) Lower-middle income economy 

Ans)(d) Lower-middle income economy 

14) BRINGING GREEN REVOLUTION TO EASTERN INDIA (BGREI) SCHEME MAINLY TARGETS THE IMPROVEMENT IN PRODUCTION OF WHICH OF THE FOLLOWING IN EASTERN STATES ?

(a) Rice

(b) Wheat

(c) Horticulture

(d) Both Rice and Wheat

Ans)(a) Rice

15) WHICH OF THE FOLLOWING FERTILIZERS IS MAINLY PRODUCED AT SINDRI FERTILIZER PLANT IN JHARKHAND ?

(a) Ammonium Phosphate

(b) Calcium Super Phosphate

(c) Urea

(d) Ammonium Sulphate

Ans)(c) Urea

16) ROLLING PLAN WAS DESIGNED FOR WHICH OF THE FOLLOWING PERIODS ?

(a) 1974-79

(b) 1978-83

(c) 1980-85

(d) 1985-90

Ans)(b) 1978-83

17) WHICH SECTION OF THE RBI ALLOWS THE RBI TO PROVIDE LOANS TO BANKS AND STATE FINANCIAL CORPORATIONS ?

(a) 17

(b) 18

(c) 19

(d) 20

Ans)(a) 17

18) WHAT IS THE NAME GIVEN TO THE UNEMPLOYMENT WHICH OCCURS WHEN WORKERS MOVE FROM ONE JOB TO ANOTHER JOB ?

(a) Seasonal unemployment

(b) Frictional unemployment

(c) Technological unemployment

(d) Cyclical unemployment

Ans)(b) Frictional unemployment

19) WHO AMONG THE FOLLOWING ECONOMIST WAS AWARDED ‘ORDER OF THE RISING SUN’ BY THE JAPANESE GOVERNMENT ?

(a) Amartya Sen

(b) Jagadish Banerjee

(c) Amit Mitra

(d) None of the above

Ans)(c) Amit Mitra

20) WHEN WAS TISCO ESTABLISHED IN JAMSHEDPUR ?

(a) 1906

(b) 1907

(c) 1908

(d) 1909

Ans)(c) 1908

21) WHICH COUNTRY IS THE LARGEST PALM OIL EXPORTER TO INDIA ?

(a) Malaysia

(b) Indonesia

(c) Vietnam

(d) Cambodia

Ans)(b) Indonesia

22) WHICH AMONG THE FOLLOWING IS NOT A CHALLENGE TO FOOD SECURITY ?

(a) Climate change

(b) Lack of access to remote areas

(c) Over population

(d) Economic growth

Ans)(d) Economic growth

23) WHICH IS THE LARGEST OILSEED PRODUCING STATE IN INDIA ?

(a) Gujarat

(b) Maharashtra

(c) Karnataka

(d) Madhya Pradesh

Ans)(a) Gujarat

24) WHICH AMONG THE FOLLOWING TYPE OF COFFEE IS GROWN IN INDIA ?

1. Arabica

2. Robusta

3. Charrieriana

Choose the correct option from the choices given below:

(a) 1,2 and 3

(b) 1 and 3 only

(c) 1 and 2 only

(d) 2 only

Ans)(c) 1 and 2 only

25) WHAT IS THE MINIMUM TREE CANOPY DENSITY THAT AN AREA SHOULD HAVE IN ORDER TO BE CONSIDERED AS A FOREST ?

(a) 30%

(b) 15%

(c) 45%

(d) 10%

Ans)(d) 10%

26) WHICH AMONG THE FOLLOWING ARE THE PRODUCTS OBTAINED FROM BEEKEEPING?

1. HONEY

2.ROYAL JELLY

3. WAX

4. POLLEN

5. VENOM

Choose the correct option from the codes given below:

(a) 1,2,3 and 5 only

(b) 1,2,3,4 and 5

(c) 1,2 and 3 only

(d) 1,2 and 4 only

Ans)(b) 1,2,3,4 and 5

27) WHICH AMONG THE CHEMICALS TYPES IS THE MOST PRODUCED IN INDIA ?

(a) Alkaline chemicals

(b) Acidic chemical

(c) Neutral chemicals

(d) None

Ans)(a) Alkaline chemicals

28) WHICH AMONG THE FOLLOWING IS A PRINCIPAL RAW MATERIAL FOR PAPER MANUFACTURING IN INDIA ?

(a) Soft wood

(b) Hard wood

(c) Fibre

(d) None of the above

Ans)(a) Soft wood

29) WHICH AMONG THE FOLLOWING IS A MAJOR RAW MATERIAL OF PAPER MANUFACTURING IN INDIA ?

(a) Wheat husk

(b) Bamboo

(c) Soft wood

(d) hard wood

Ans)(b) Bamboo

30) WHAT WAS THE MAIN AIM OF THE INDUSTRIAL POLICY OF 1980 ?

(a) Coopertive federalism

(b) Economic federation 

(c) Improve Manufacturing sector

(d) Improve servie sector

Ans)(b) Economic federation 

31) WHAT IS THE INITIAL CORPUS FOR STAND UP INDIA SCHEME ?

(a) 5000 crores

(b) 10,000 crores

(c) 15,000 crores

(d) 20,000 crores

Ans)(b) 10,000 crores

32) HOW MUCH FUNDS HAS TO BE DEPOSITED IN AN ESCROW ACCOUNT UNDER RERA ?

(a) 60%

(b) 70%

(c) 80%

(d) 75%

Ans)(b) 70%

33) WHO AMONG THE FOLLOWING ANNOUNCES THE MONETARY POLICY ?

(a) Government of India

(b) RBI

(c) NITI Aayog

(d) Chief Economic advisor

Ans)(b) RBI

34) WHO PROTECTS THE INVESTORS IN A STOCK MARKET ?

(a) SEBI

(b) RBI

(c) Government of India

(d) Ministry of Finance

Ans)(a) SEBI

35) ATAL ROHTANG TUNNEL IS BUILT ON WHICH HIGHWAY ?

(a) Jammu – Srinagar National Highway

(b) Himalayan Expressway

(c) Leh-Manali Highway

(d) None of the above 

Ans)(c) Leh-Manali Highway

36) SALE OF WHICH OF THE FOLLOWING IS DONE THROUGH OPEN MARKET SALE SCHEME (OMSS) ?

(a) Wheat and Rice

(b) Wheat, Rice and Pulses

(c) Rice and Pulses

(d) Only Pulses

Ans)(a) Wheat and Rice

37) WHO AMONG THE FOLLOWING REGULATES AGRICULTURE INSURANCE COMPANY OF INDIA ?

(a) NABARD

(b) RBI

(c) Ministry of Agriculture

(d) Ministry of Finance

Ans)(d) Ministry of Finance

38) WHAT PERCENTAGE OF LNG INDIA IMPORT FOR ITS USE ?

(a) 84.54%

(b) 45.89%

(c) 53.54%

(d) 23.43%

Ans)(b) 45.89%

39) WHICH AMONG THE FOLLOWING IS NOT A PART OF THE RENEWABLE ENERGY SOURCES IN INDIA ?

(a) Wind power

(b) Large hydropower plant

(c) Biomass

(d) Solar power

Ans)(b) Large hydropower plant

40) WHICH IS THE LARGEST NATURAL GAS-PRODUCING STATE IN INDIA ?

(a) Gujarat

(b) Maharshtra

(c) Assam

(d) Odisha

Ans)(a) Gujarat

41) WHAT ARE DEMAND FOR NECESSITIES ?

(a) elastic

(b) perfectly inelastic

(c) inelastic

(d) perfectly elastic

Ans)(b) perfectly inelastic

42) WHAT EXPRESSES THE FUNCTIONAL RELATIONSHIP BETWEEN CROSS DEMAND ?

(a) demand and prices of related commodities

(b) demand and income.

(c) demand and prices.

(d) demand and supply

Ans)(a) demand and prices of related commodities

43) IN THE CONTEXT OF ECONOMICS, WHO IS MOST LIKELY TO ENGAGE IN PUMP PRIMING ?

(a) A small business owner

(b) A government during recession

(c) A stock broker

(d) A non-profit organization

Ans)(b) A government during recession

44) WHO MANAGES THE BUFFER STOCK ?

(a) Warehousing Corporation of India

(b) State Trading Corporation of India

(c) Food Corporation of India

(d) Ministry of Agriculture

Ans)(c) Food Corporation of India

45) WHICH OF THE FOLLOWING IS NOT INCLUDED IN THE GENERAL METHODOLOGY WHILE ESTIMATING NATIONAL INCOME ?

(a) Pension

(b) Investment Expenditure

(c) Value added

(d) Consumption Expenditure

Ans)(a) Pension

46) MUDRA BANK HAS BEEN STARTED TO HELP WHICH SECTOR ?

(a) Small business

(b) Marginal farmers

(c) Poor women

(d) Rural sector

Ans)(a) Small business

47) WHAT HAPPENS TO PRICES WHEN THE FISCAL DEFICIT IS HIGH ?

(a) Prices decrease

(b) There is no direct impact on prices

(c) Prices remain stable

(d) Prices increase

Ans)(b) There is no direct impact on prices

48) WHICH OF THE FOLLOWING WOULD NOT CONSTITUTE AN ECONOMIC ACTIVITY IN ECONOMICS ?

(a) A teacher teaching students in his college

(b) A teacher teaching students in a coaching institute

(c) A teacher teaching his own daughter at home

(d) A teacher teaching students under Sarva Shiksha Abhiyan Scheme

Ans)(c) A teacher teaching his own daughter at home

49) IN WHICH OF THE FOLLOWING STATE, THE CONSUMPTION OF CHEMICAL FERTILISERS IN HIGHEST ?

(a) Haryana

(b) Uttar Pradesh

(c) Punjab

(d) Rajasthan

Ans)(c) Punjab

50) WHICH OF THE FOLLOWING IS / ARE TYPE(S) OF GENE MODIFICATION OF SEED?

1. MUTATION OF GENES

2. INSERTION OF GENES

3. DELETION OF GENES

Choose the correct option from codes given below:

(a) 1,2 and 3

(b) 1 and 2 only

(c) 2 only

(d) 1 and 3 only

Ans)(a) 1,2 and 3



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