Indian Economy Practice Question and Answer

Q:

The gradation and standardization of agricultural products are conducted through

4810 2

  • 1
    Food Corporation of India
    Correct
    Wrong
  • 2
    Directorate of Marketing and Inspection
    Correct
    Wrong
  • 3
    Indian Standards Institution
    Correct
    Wrong
  • 4
    Central Statistical Organization
    Correct
    Wrong
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Answer : 2. "Directorate of Marketing and Inspection "

Q:

How many member is in the GST Council of India?

2994 0

  • 1
    33
    Correct
    Wrong
  • 2
    34
    Correct
    Wrong
  • 3
    36
    Correct
    Wrong
  • 4
    27
    Correct
    Wrong
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Answer : 1. "33"

Q:

Which of the statements is correct about India's national income?    

1966 0

  • 1
    Percentage share of agriculture is higher than services
    Correct
    Wrong
  • 2
    Percentage share of industry is higher than agriculture
    Correct
    Wrong
  • 3
    Percentage share of services is higher than industry
    Correct
    Wrong
  • 4
    Percentage share of services is higher than agriculture and industry put together
    Correct
    Wrong
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Answer : 4. "Percentage share of services is higher than agriculture and industry put together "

Q:

Price theory is also known as     

1569 0

  • 1
    Macro Economics
    Correct
    Wrong
  • 2
    Development Economics
    Correct
    Wrong
  • 3
    Public Economics
    Correct
    Wrong
  • 4
    Micro Economics
    Correct
    Wrong
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Answer : 4. "Micro Economics "

Q:

Which three indicators are used in the Human Development Index (HDI)?

I. Standard of living

II. Education

III. Life expectancy

IV. Condition of environment


2926 1

  • 1
    Only I, II & IV
    Correct
    Wrong
  • 2
    Only I, II, & III
    Correct
    Wrong
  • 3
    Only I & II
    Correct
    Wrong
  • 4
    All of the above
    Correct
    Wrong
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Answer : 2. "Only I, II, & III"

Q:

The process of curing inflation by reducing money supply is called 

5160 1

  • 1
    Cost - push inflation
    Correct
    Wrong
  • 2
    Demand - pull inflation
    Correct
    Wrong
  • 3
    Disinflation
    Correct
    Wrong
  • 4
    Reflation
    Correct
    Wrong
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Answer : 3. "Disinflation"

Q:

What is the demand for labor called?

1608 1

  • 1
    Market demand
    Correct
    Wrong
  • 2
    Direct demand
    Correct
    Wrong
  • 3
    Derived demand
    Correct
    Wrong
  • 4
    Factory demand
    Correct
    Wrong
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Answer : 3. "Derived demand"

Q:

The Economic development depends on-

1724 0

  • 1
    Natural resources
    Correct
    Wrong
  • 2
    Capital formation
    Correct
    Wrong
  • 3
    Size of the market
    Correct
    Wrong
  • 4
    All of these
    Correct
    Wrong
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Answer : 4. "All of these"

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