General Economics Questions and Answers
National Insurance Awareness Day was observed on which day?
(A) 26 June
(B) 27 June
(C) 28 June
(D) 29 June
Correct Answer : C
GNP differs from NNP due to
(A) Interest on public debt
(B) depreciation
(C) net indirect taxes
(D) direct taxes
Correct Answer : B
What was the main focus of India’s first five year plan?
(A) Research related development and Space related development
(B) Development of Information Technology
(C) Rapid growth of heavy industries
(D) Development of primary sector with focus on agriculture
Correct Answer : D
Which of the following is called the ‘father of white revolution’ in India?
(A) Hargovind Khurana
(B) V. Kurien
(C) M.S. Swaminathan
(D) P.K. Sethi
Correct Answer : B
Central bank of our country is
(A) State Bank of India
(B) Reserve Bank of India
(C) Central Bank of India
(D) Bank of Baroda
Correct Answer : B
Explanation :
1. The central bank of our country is the Reserve Bank of India.
2. It is the supreme bank of India and determines the monetary policy of the country.
3. RBI was established on April 1, 1935 under the Reserve Bank of India Act, 1934.
The Micro, Small and Medium Enterprises Development Act was passed in the year ____.
(A) 2002
(B) 2006
(C) 2004
(D) 2008
Correct Answer : B
Explanation :
Notification for enforcement of MSME Act, 2006, The Provisions of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006) shall come into force from 2nd October, 2006.
Externality theory is the basic theory of the following branch of Economics–
(A) International Economics
(B) Environomics
(C) Fiscal Economics
(D) Macro Economics
Correct Answer : B
‘Functional Finance’ is associated with–
(A) Abba ‘P’ Lerner
(B) Adolph Wogner
(C) Adam Smith
(D) Adams
Correct Answer : A
Banks and other financial institutions in India are required to maintain a certain amount of liquid assets like cash, precious metals and other short term securities as a reserve all the time. In Banking World this is known as–
(A) PLR
(B) Fixed Asset
(C) SLR
(D) CRR
Correct Answer : D
As per estimates of the Planning Commission of India the target growth rate of 12th Five-Year Plan is set to
(A) 7 to 8%
(B) 8.0% to 8.5%
(C) 9% to 9.5%
(D) 10 to 10.5%
Correct Answer : B
Explanation :
The Approach Paper has proposed a target of 8 per cent growth for the Twelfth Plan. Health, education and skill development, environment and natural resources, and infrastructure development were the focus areas of the Twelfth Plan.
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Rajesh Bhatia
A Writer, Teacher and GK Expert. I am an M.A. & M.Ed. in English Literature and Political Science. I am highly keen and passionate about reading Indian History. Also, I like to mentor students about how to prepare for a competitive examination. Share your concerns with me by comment box. Also, you can ask anything at linkedin.com/in/rajesh-bhatia-7395a015b/.
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