Indian Economy Practice Question and Answer

Q:

In which year fourteen major banks were nationalized in India?

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  • 1
    1967
    Correct
    Wrong
  • 2
    1968
    Correct
    Wrong
  • 3
    1969
    Correct
    Wrong
  • 4
    1971
    Correct
    Wrong
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Answer : 3. "1969 "

Q:

Diamonds are priced higher than water because–

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  • 1
    consumers do not buy them at lower prices.
    Correct
    Wrong
  • 2
    they are sold by selected firms with monopolistic powers.
    Correct
    Wrong
  • 3
    their total utility to buyers is higher than that of water.
    Correct
    Wrong
  • 4
    their marginal utility to buyers is higher than that of water
    Correct
    Wrong
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Answer : 2. "they are sold by selected firms with monopolistic powers."

Q:

What is the rank of India in the production of sugar in the world?

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  • 1
    2nd
    Correct
    Wrong
  • 2
    3rd
    Correct
    Wrong
  • 3
    4th
    Correct
    Wrong
  • 4
    5th
    Correct
    Wrong
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Answer : 1. "2nd "

Q:

In which year Kisan Credit Card Scheme was launched?

795 0

  • 1
    1990
    Correct
    Wrong
  • 2
    1950
    Correct
    Wrong
  • 3
    1998
    Correct
    Wrong
  • 4
    2000
    Correct
    Wrong
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Answer : 3. "1998"

Q:

What is the percentage of the female population according to the 2011 census? 

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  • 1
    42.53 %
    Correct
    Wrong
  • 2
    40.53 %
    Correct
    Wrong
  • 3
    48.53 %
    Correct
    Wrong
  • 4
    45.53 %
    Correct
    Wrong
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Answer : 3. "48.53 % "

Q:

What is the name of the amount from which the business is started?

792 0

  • 1
    Cash
    Correct
    Wrong
  • 2
    Capital
    Correct
    Wrong
  • 3
    Property
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "Capital"

Q:

What is called by the government to abolish the old currency and move to the new currency?

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  • 1
    Demonetization
    Correct
    Wrong
  • 2
    devaluation
    Correct
    Wrong
  • 3
    Currency contraction
    Correct
    Wrong
  • 4
    All these
    Correct
    Wrong
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Answer : 1. "Demonetization"

Q:

Which of the following statements is correct?

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  • 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"

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