Indian Economy Practice Question and Answer

Q:

In which year was the first Regional Rural Bank established?

670 0

  • 1
    1947
    Correct
    Wrong
  • 2
    1975
    Correct
    Wrong
  • 3
    1950
    Correct
    Wrong
  • 4
    1995
    Correct
    Wrong
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Answer : 2. "1975"

Q:

Who is called the bank of banks in India?

664 0

  • 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:

In which country was the consumer awareness movement started?

661 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 assesses the national income numbers in India?

660 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:

Which of the following is considered a capital expense?

658 0

  • 1
    Pension  
    Correct
    Wrong
  • 2
    Payment of salaries  
    Correct
    Wrong
  • 3
    Subsidies
    Correct
    Wrong
  • 4
    Construction of school buildings
    Correct
    Wrong
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Answer : 4. "Construction of school buildings"
Explanation :

1. Capital expenditure is money spent by the government on the development of machinery, equipment, buildings, health facilities, education etc.

2. It also includes expenditure by the government on the acquisition of fixed assets like land and investments which give future profits or dividends.

3. Creation of assets as well as repayment of loans is also capital expenditure, as it reduces liability.

Q:

Fiscal policy refers to–

658 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:

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

655 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:

When was the Industrial and Financial Exchange Board established?

655 0

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

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