Economics GK Practice Question and Answer

Q:

Which of the following is not included in the national income?

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  • 1
    win the lottery
    Correct
    Wrong
  • 2
    Government expenditure incurred on construction of new bridges
    Correct
    Wrong
  • 3
    Charged rent of houses in owner's possession
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 1. "win the lottery"

Q:

‘L. K. Which tax was suggested by the Jha Committee?

2978 0

  • 1
    D. M.A.T.
    Correct
    Wrong
  • 2
    V.A.T.
    Correct
    Wrong
  • 3
    M.O.D.V.A.T.
    Correct
    Wrong
  • 4
    M.A.N.V.A.T.
    Correct
    Wrong
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Answer : 4. "M.A.N.V.A.T."

Q: Portion of deposits banks have to park with RBI is called ___? 2517 0

  • 1
    Statutory Reserve Ratio
    Correct
    Wrong
  • 2
    Capital Adequacy Ratio
    Correct
    Wrong
  • 3
    Cash Reserve Ratio
    Correct
    Wrong
  • 4
    CASA Ratio
    Correct
    Wrong
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Answer : 3. "Cash Reserve Ratio"

Q:

Where is the headquarters of Oil and Natural Gas Corporation (ONGC) in India located?

2189 0

  • 1
    Hirapur
    Correct
    Wrong
  • 2
    Guwahati
    Correct
    Wrong
  • 3
    Dehradun
    Correct
    Wrong
  • 4
    Mumbai
    Correct
    Wrong
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Answer : 3. "Dehradun"

Q:

Committee on Public Distribution System is?

1926 0

  • 1
    Sodhani Committee
    Correct
    Wrong
  • 2
    Malegam Committee
    Correct
    Wrong
  • 3
    Venugopal Committee
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 3. "Venugopal Committee"

Q:

Which region has the least contribution to India's national income?

1769 0

  • 1
    Primary Sector
    Correct
    Wrong
  • 2
    Secondary Sector
    Correct
    Wrong
  • 3
    Tertiary sector
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "Secondary Sector"

Q:

The national census does NOT recognise ______ groups within India.

1729 0

  • 1
    tribal
    Correct
    Wrong
  • 2
    ethnic
    Correct
    Wrong
  • 3
    religious
    Correct
    Wrong
  • 4
    scheduled caste
    Correct
    Wrong
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Answer : 2. "ethnic"
Explanation :

A. National census does not identify ethnic groups within India.

B. Here are examples of some specific groups identified by the national census.

1. Tribal Groups: Santhal, Gond, Adivasi, Bodo, Meena, Kushwaha

2. Religious Groups: Hindu, Muslim, Christian, Sikh, Buddhist, Jain, Parsi

3. Linguistic Groups: Hindi, Bengali, Marathi, Tamil, Telugu, Urdu, Gujarati, Kannada, Punjabi, Assamese

Q:

Which is the most important small scale industry of India?

1585 0

  • 1
    Handloom Industry
    Correct
    Wrong
  • 2
    Leather Industry
    Correct
    Wrong
  • 3
    Pottery manufacturing industry
    Correct
    Wrong
  • 4
    Cotton textile industry
    Correct
    Wrong
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Answer : 1. "Handloom Industry"

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