Indian Economy Practice Question and Answer

Q:

Value of Total Goods and Services produced in a country is its _____________ .

2117 0

  • 1
    Gross Domestic Product
    Correct
    Wrong
  • 2
    Gross Revenue Income
    Correct
    Wrong
  • 3
    Total Goods Revenue
    Correct
    Wrong
  • 4
    Total Income
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 1. "Gross Domestic Product"

Q:

The study of factor pricing is alternatively called the theory of 

2496 0

  • 1
    functional distribution
    Correct
    Wrong
  • 2
    personal distribution
    Correct
    Wrong
  • 3
    Income distribution
    Correct
    Wrong
  • 4
    wealth distribution
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 1. "functional distribution "

Q:

Which of the following is not an example of direct tax?

5770 1

  • 1
    Income tax
    Correct
    Wrong
  • 2
    Property tax
    Correct
    Wrong
  • 3
    Gift tax
    Correct
    Wrong
  • 4
    Sales tax
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 4. "Sales tax"

Q:

When the price of a commodity falls, we can expect:

4073 0

  • 1
    The supply of it to increase
    Correct
    Wrong
  • 2
    The demand for it to fall
    Correct
    Wrong
  • 3
    The demand for it to stay constant
    Correct
    Wrong
  • 4
    The demand for it to increase
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 4. "The demand for it to increase"

Q:

This personality is known as the Father of Economics. Can you identify him from the given options?

3952 0

  • 1
    J.M. Keynes
    Correct
    Wrong
  • 2
    Adam Smith
    Correct
    Wrong
  • 3
    Abraham Maslow
    Correct
    Wrong
  • 4
    J.K. Galbraith
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 2. "Adam Smith"

Q:

Which Indian state has the least literacy rate?

58613 61

  • 1
    Bihar
    Correct
    Wrong
  • 2
    Rajasthan
    Correct
    Wrong
  • 3
    Arunachal Pradesh
    Correct
    Wrong
  • 4
    Orissa
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 1. "Bihar"

Q:

If Reserve Bank of India reduces the cash reserve ratio, it will :

1637 0

  • 1
    increase credit creation
    Correct
    Wrong
  • 2
    decrease credit creation
    Correct
    Wrong
  • 3
    have no impact on credit creation
    Correct
    Wrong
  • 4
    have no definite impact on credit creation
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 1. "increase credit creation"

Q:

In a cut motion, when the amount of demand is reduced by Rs 100/- , it is known as

1243 0

  • 1
    Disapproval of policy cut
    Correct
    Wrong
  • 2
    Economy cut
    Correct
    Wrong
  • 3
    Vote on Account
    Correct
    Wrong
  • 4
    Token cut
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 4. "Token cut"

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully