Indian Economy MCQ Question Answer Paper Set 10

1)In which year the Indian rupee was devalued two times within a month?

a) 1990

b) 1991

c) 1994

d) 1999

ans: b

2)Which one of the following is a private bank?

a) Allahabad Bank

b) Punjab and Sind Bank

c) Punjab National Bank

d) Punjab Bank

ans: d

3) The EXIM Bank of India was established in:

a) 1964

b) 1976

c) 1980

d) 1982

ans: d

4) India has:

(a) Socialistic economy

(b) Gandhian economy

(c) Mixed economy

(d) Free economy

Ans: (c)

5) A rolling plan was a plan for:

(a) one year

(b) three years

(c) five years

(d) year to year basis

Ans: (a)

6) How many languages are used on a ten rupee note?

(a) 2

(b) 7

(c) 10

(d) 15

Ans: (d)

7) MODVAT is related to:

a) Sales Tax

b) Wealth Tax

c) Income Tax

d) Excise Duty

ans: d

8)Under Gadgil-Mukherjee formula the higher weithage is given to:


b) Per Capita Income

c) Population

d) Special Problems

ans: c

9) Word Bull and Big are associated with which branch of commercial activity?

(a) Foreign Trade

(b) Banking

(c) Share Market

(d) Manufacturing

Ans: (c)

10) The national income of India is estimated mainly through: [CBI 1993]

(a) production method alone

(b) expenditure method alone

(c) production and expenditure methods

(d) production and income methods

Ans: (d)

11) Who propounded the ‘market law’?

a) Adam Smith

b) J.B.Say

c) T.R.Malthus

d) John Maynard Ricardo

ans: b

12) The relationship between the value of money and the price level in an economy is:

a) Direct

b) Inverse

c) Proportional

d) Stable

ans: b

13) When was the first Regional Rural Bank formed ?

a) 1974

b) 1975

c) 1976

d) 1977

ans: b

14) Black money is :

(a) counterfeit currency

(b) illegally earned money

(c) money earned through underhand deals

(d) income on which payment of tax is usually evaded

Ans: (d)

15) What are gilt-edged securities?

(a) Securities issued by the multinationals

(b) Securities issued by the government

(c) Securities issued by the private sectors

(d) Securities issued by the joint venture companies

Ans: (b)

16) In which of the following industries is the maximum number of women employed in


(a) Textile

(b) Jute

(c) Tea

(d) Coal

Ans: (c)

17) The recommendations of the Kelkar Task Force relate to:

a) Trade

b) Banking

c) Foreign Investment

d) Taxes

ans: d

18) Economic Planning is in:

a) Union List

b) State List

c) Concurrent List

d) Not any Specific List

ans: c

19) The International Development Association, a lending agency, is administered by the

(a) International Bank for Reconstruction and Development

(b) International Fund for Agricultural Development

(c) United Nations Development Programme

(d) United Nations Industrial Development Organization

Ans: (a)

20) Highest milk producer in India is :

(a) U.P.

(b) Gujarat

(c) Punjab

(d) Haryana

Ans: (a)

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