Indian Economy Practice Question and Answer

Q:

Socialism is successful in achieving because of–

656 0

  • 1
    Excess socialistic approach in society
    Correct
    Wrong
  • 2
    To increase standard of living
    Correct
    Wrong
  • 3
    Equal distribution of income
    Correct
    Wrong
  • 4
    None of the above
    Correct
    Wrong
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Answer : 1. "Excess socialistic approach in society"
Explanation :

Explain: -Making social welfare is the success of socialism

Q:

In which country was the consumer awareness movement started?

653 0

  • 1
    China
    Correct
    Wrong
  • 2
    Japan
    Correct
    Wrong
  • 3
    England
    Correct
    Wrong
  • 4
    United States
    Correct
    Wrong
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Answer : 3. "England"

Q:

Who is called the bank of banks in India?

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  • 1
    Reserve Bank of India
    Correct
    Wrong
  • 2
    Bank of India
    Correct
    Wrong
  • 3
    State Bank of India
    Correct
    Wrong
  • 4
    All these
    Correct
    Wrong
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Answer : 1. "Reserve Bank of India"

Q:

Who assesses the national income numbers in India?

651 0

  • 1
    Planning Commission Ministry of Finance
    Correct
    Wrong
  • 2
    Central Statistical Organization
    Correct
    Wrong
  • 3
    Reserve Bank of India
    Correct
    Wrong
  • 4
    Reserve Bank of India
    Correct
    Wrong
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Answer : 2. "Central Statistical Organization"

Q:

Fiscal policy refers to–

648 0

  • 1
    Government borrowings from abroad
    Correct
    Wrong
  • 2
    Sharing of its revenue by Central Government with States
    Correct
    Wrong
  • 3
    Sale and purchase of securities by RBI
    Correct
    Wrong
  • 4
    Government taxes, expenditure and borrowings
    Correct
    Wrong
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Answer : 4. "Government taxes, expenditure and borrowings"

Q:

When was the Industrial and Financial Exchange Board established?

642 0

  • 1
    1945
    Correct
    Wrong
  • 2
    1955
    Correct
    Wrong
  • 3
    1992
    Correct
    Wrong
  • 4
    1995
    Correct
    Wrong
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Answer : 3. "1992"

Q:

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

639 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 is considered as the main determinant of real wages?

636 0

  • 1
    purchasing power of money
    Correct
    Wrong
  • 2
    Nature of work
    Correct
    Wrong
  • 3
    additional income
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 1. "purchasing power of money"

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