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Economics GK Quiz with Answers

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Q :  

Which country's accounts are said to be the most secure?

(A) France

(B) Switzerland

(C) Japan

(D) Luxembourg

Correct Answer : B
Explanation :

Global Peace Index (GPI) is a report produced by the Institute for Economics & Peace (IEP) which measures the relative position of nations' and regions' peacefulness.[2] The GPI ranks 163 independent states and territories (collectively accounting for 99.7 per cent of the world's population) according to their levels of peacefulness. In the past decade, the GPI has presented trends of increased global violence and less peacefulness.[3]


Q :  

Reliance Industries has bought what percent stake in domestic robotics company 'Edward'?

(A) 20 percent

(B) 30 percent

(C) 50 percent

(D) 55.7 percent

Correct Answer : D
Explanation :

Reliance Industries Ltd's retail arm has purchased a 55.7% stake in Addverb Technologies, a Noida-based robotics company, for $132 million.


Q :  

As per Section 25 of the Banking Regulation Act, 1949, the assets in India of every banking company at the close of business on the last Friday of every quarter or, if that Friday is a public holiday, at the close of business on the preceding working day, shall not be less than ______ of its demand and time liabilities in India.

(A) 50%

(B) 25%

(C) 75%

(D) 10%

Correct Answer : C
Explanation :

The assets in India of every banking company at the close of business on the last Friday of every quarter or, if that Friday is a public holiday under the Negotiable Instruments Act, 1881 (26 of 1881), at the close of the business on the preceding working day, shall not be less than seventy-five per cent.


Q :  

Which of the following falls under the secondary sector of economic activities?

(A) Banking

(B) Sugar factory

(C) Warehousing

(D) Transport

Correct Answer : B
Explanation :

The secondary sector includes manufacturing, electricity, gas and water supply and construction.


Q :  

The Census of India 2011, showed an increase in population by about ______% as compared to 2001.

(A) 17.5

(B) 23.5

(C) 11.5

(D) 5.5

Correct Answer : A
Explanation :

The Census of India 2011, showed an increase in population by about 17.5% as compared to 2001.


Q :  

Who has been appointed as the head of the department of RBI for "Fintech"?

(A) Ajay Kumar Choudhary

(B) Deepak Kumar

(C) Ajay Kumar

(D) T Rabi Shankar

Correct Answer : A
Explanation :

The central bank has appointed Ajay Kumar Choudhary, executive director, to head the department.


Q :  

IIT Hyderabad has launched an AI-based job portal “Swarajability” for people with disabilities with funding support from which bank?

(A) Kotak Mahindra Bank

(B) Punjab National Bank

(C) States Bank of India

(D) Bank of Baroda

Correct Answer : A
Explanation :

IIT-Hyderabad provided expertise for the Artificial Intelligence component. The project is funded by Kotak Mahindra Bank.


Q :  

Which of the following industries has the highest labor force in India?

(A) Cement Industry

(B) textile industry

(C) Jute Industry

(D) Iron-steel industry

Correct Answer : B
Explanation :

In 2021, 43.96 percent of the workforce in India were employed in agriculture, while the other half was almost evenly distributed among the two other sectors, industry and services. While the share of Indians working in agriculture is declining, it is still the main sector of employment.


Q :  

Which of the following will cause property prices to fall?

(A) More liquidity in the economy

(B) Reduction in reverse repo rate by RBI

(C) Increase in reverse repo rate by RBI

(D) Demand and Supply

Correct Answer : D
Explanation :

Demand and Supply: For any given area, demand in the real estate will always be inversely proportional to supply. If there is a decrease in supply, prices will obviously go up for the existing projects. With an overall increase in the number of unsold housing projects, prices will go down for each one of them.


Q :  

Which of the following is be an example of employment with job security?

(A) Daily wage labourer

(B) Casual worker

(C) Regular worker

(D) Seasonal worker

Correct Answer : B
Explanation :

Jobs that traditionally have a strong union presence such as many government jobs and jobs in education, healthcare and law enforcement are considered very secure while many non-unionized private sector jobs are generally believed to offer lower job security, although this varies by industry and country.


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