Top 50 Indian Economics GK Questions
This personality is known as the Father of Economics. Can you identify him from the given options?
(A) J.M. Keynes
(B) Adam Smith
(C) Abraham Maslow
(D) J.K. Galbraith
Correct Answer : B
Which of the following is not an example of direct tax?
(A) Income tax
(B) Property tax
(C) Gift tax
(D) Sales tax
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
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
Price theory is also known as
(A) Macro Economics
(B) Development Economics
(C) Public Economics
(D) Micro Economics
Correct Answer : D
How many member is in the GST Council of India?
(A) 33
(B) 34
(C) 36
(D) 27
Correct Answer : A
What kind of economy is there in India?
(A) socialist
(B) Mixed
(C) Free
(D) Gandhian
Correct Answer : B
Which among the following formulates fiscal policy?
(A) RBI
(B) Finance Ministry
(C) SEBI
(D) Planning Commission
Correct Answer : A
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
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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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