Indian Economy Practice Question and Answer

Q:

As per Census 2011, under which of the following ranges does the literacy rate in India fall? 

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  • 1
    90% - 95%
    Correct
    Wrong
  • 2
    50% - 55%
    Correct
    Wrong
  • 3
    30% - 35%
    Correct
    Wrong
  • 4
    70% - 75%
    Correct
    Wrong
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Answer : 4. "70% - 75%"

Q:

The term “Micro Economics” and “Macro Economics” was coined by–

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  • 1
    Alfred Marshal
    Correct
    Wrong
  • 2
    Ragner Nurkse
    Correct
    Wrong
  • 3
    Ragner Frisch
    Correct
    Wrong
  • 4
    J.M. Keynes
    Correct
    Wrong
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Answer : 3. "Ragner Frisch "
Explanation :

Explain: -The difference between micro and macro economics is simple. Microeconomics is the study of economics at an individual, group or company level. Macroeconomics, on the other hand, is the study of a national economy as a whole. Microeconomics focuses on issues that affect individuals and companies

Q:

Which among the following is not the investment of goods & services? 

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  • 1
    Cost of machinery
    Correct
    Wrong
  • 2
    Increase in cost of raw goods
    Correct
    Wrong
  • 3
    Increasing department of company
    Correct
    Wrong
  • 4
    Cost of buying a house.
    Correct
    Wrong
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Answer : 3. "Increasing department of company "
Explanation :

Explain: -Increasing the department of company is not the matter of investment on goods and services


Q:

The Worldwide great depression happens in which year-

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  • 1
    1936
    Correct
    Wrong
  • 2
    1929
    Correct
    Wrong
  • 3
    1928
    Correct
    Wrong
  • 4
    1930
    Correct
    Wrong
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Answer : 3. "1928 "
Explanation :

Explain: -The duration of great depression was different for different for different countries, but the starting of depresion was 1929-32. The unemployment of America increase by +607%. Similiarly in Germany by +214% & France by +214%.

Q:

The National Mission for Saffron has been launched as a sub- scheme of which among the following programmes?

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  • 1
    National Food Security Mission
    Correct
    Wrong
  • 2
    National Cash Crop Programme
    Correct
    Wrong
  • 3
    National Horticulture Mission
    Correct
    Wrong
  • 4
    Rashtriya Krishi Vikas Yojana
    Correct
    Wrong
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Answer : 4. "Rashtriya Krishi Vikas Yojana"

Q:

If the interest rate is decreased in an economy, it will

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  • 1
    increase the investment expenditure in the economy
    Correct
    Wrong
  • 2
    increase the total savings in the economy
    Correct
    Wrong
  • 3
    increase the total savings in the economy
    Correct
    Wrong
  • 4
    decrease the consumption expenditure in the economy
    Correct
    Wrong
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Answer : 1. "increase the investment expenditure in the economy"

Q:

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

443 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"

Q:

In an economy “Development Stage” means- 

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  • 1
    Starting of steadily increasing economy
    Correct
    Wrong
  • 2
    Bad economy
    Correct
    Wrong
  • 3
    Economy is on the verge of destroying
    Correct
    Wrong
  • 4
    All tariff to be removed.
    Correct
    Wrong
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Answer : 1. "Starting of steadily increasing economy "

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