Indian Economy Practice Question and Answer

Q:

Who controls the credit generated by commercial banks?

459 0

  • 1
    Government of India
    Correct
    Wrong
  • 2
    State Bank of India
    Correct
    Wrong
  • 3
    Reserve Bank of India
    Correct
    Wrong
  • 4
    Ministry of Finance
    Correct
    Wrong
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Answer : 3. "Reserve Bank of India"

Q:

"National Clean Air Programme" launched in India.

545 0

  • 1
    2002
    Correct
    Wrong
  • 2
    2019
    Correct
    Wrong
  • 3
    2017
    Correct
    Wrong
  • 4
    2016
    Correct
    Wrong
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Answer : 2. "2019"

Q:

Who among the following promotes social justice?

848 0

  • 1
    Herald Laski
    Correct
    Wrong
  • 2
    John Keynes
    Correct
    Wrong
  • 3
    John Rowles
    Correct
    Wrong
  • 4
    All of the above
    Correct
    Wrong
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Answer : 3. "John Rowles "

Q:

With which form of economy is the term ‘Laissez-Faire’ associated?

631 0

  • 1
    Capitalist Economy
    Correct
    Wrong
  • 2
    Socialist Economy
    Correct
    Wrong
  • 3
    Mixed Economy
    Correct
    Wrong
  • 4
    Command Economy
    Correct
    Wrong
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Answer : 1. "Capitalist Economy"

Q:

Which of the following statements is correct?

786 0

  • 1
    Most workers will work for less than their reservation wage
    Correct
    Wrong
  • 2
    The reservation wage is the maximum amount of any firm will pay for a worker
    Correct
    Wrong
  • 3
    Economic rent is the difference between the market wage and the reservation wage
    Correct
    Wrong
  • 4
    Economic rent is the amount one must pay to enter a desirable labour market
    Correct
    Wrong
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Answer : 3. "Economic rent is the difference between the market wage and the reservation wage"

Q:

According to whom second chamber is unnecessary & bad?

476 0

  • 1
    Monkahour
    Correct
    Wrong
  • 2
    Bentham
    Correct
    Wrong
  • 3
    Seale
    Correct
    Wrong
  • 4
    Loosky
    Correct
    Wrong
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Answer : 2. "Bentham"

Q:

Which among the following is not true about the work of Human Resource and Development (HRD)–

481 0

  • 1
    Caste – System
    Correct
    Wrong
  • 2
    Youth and Sport
    Correct
    Wrong
  • 3
    Education
    Correct
    Wrong
  • 4
    Child Development
    Correct
    Wrong
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Answer : 1. "Caste – System "

Q:

The Relationship between the rate of interest and consumption level was firstly estimated by–

427 0

  • 1
    Amartya Sen
    Correct
    Wrong
  • 2
    Milton Freedman
    Correct
    Wrong
  • 3
    Irwing Fischer
    Correct
    Wrong
  • 4
    James Duezan Berry
    Correct
    Wrong
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Answer : 2. "Milton Freedman"

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