Indian Economics General Knowledge Questions and Answers
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Economics General Knowledge
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Indian Economics General Knowledge Questions and Answers
Q : How many member is in the GST Council of India?
(A) 33
(B) 34
(C) 36
(D) 27
Correct Answer : A
The gradation and standardization of agricultural products are conducted through
(A) Food Corporation of India
(B) Directorate of Marketing and Inspection
(C) Indian Standards Institution
(D) Central Statistical Organization
Correct Answer : B
What kind of economy is there in India?
(A) socialist
(B) Mixed
(C) Free
(D) Gandhian
Correct Answer : B
Deficit financing means the government borrows money from the –
(A) International Monetary Fund
(B) Ministry of Finance
(C) Reserve Bank of India
(D) World Trade Organization
Correct Answer : C
Which among the following formulates fiscal policy?
(A) RBI
(B) Finance Ministry
(C) SEBI
(D) Planning Commission
Correct Answer : A
The Economic development depends on-
(A) Natural resources
(B) Capital formation
(C) Size of the market
(D) All of these
Correct Answer : D
Value of Total Goods and Services produced in a country is its _____________ .
(A) Gross Domestic Product
(B) Gross Revenue Income
(C) Total Goods Revenue
(D) Total Income
Correct Answer : A
What is the demand for labor called?
(A) Market demand
(B) Direct demand
(C) Derived demand
(D) Factory demand
Correct Answer : C
(A) Rajeev Gandhi
(B) Mahatama Gandhi
(C) Indira Gandhi
(D) Jawahar Lal Nehru
Correct Answer : B
Explanation :
The Government of India passed the Mahatma Gandhi National Rural Employment Guarantee Act, 2005 in September, 2005. The Act gives legal guarantee of a hundred days of wage employment in a financial year to adult members of a rural household who demand employment and are willing to do unskilled manual work.
The process of curing inflation by reducing money supply is called
(A) Cost - push inflation
(B) Demand - pull inflation
(C) Disinflation
(D) Reflation
Correct Answer : C
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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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