Economics MCQ

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Candidates who are preparing for different examination these Economics questions are very useful to know how well the preparation is going on. So here is set of some Indian economy questions.

Set of general knowledge questions on economics.


1.Consider the following statements on recommendation of Nachiket Mor Committee on financial inclusion?

  1. Every Indian above the age of 18 years having a full-service, safe and secure electronic bank account by January 2016
  2. A state-level regulatory commission will consolidate supervision of all non-governmental organisations and money service businesses.
  3. The Aadhaar will be the prime driver towards rapid expansion in the number of bank accounts.
  4. Setting up of ‘Payments Banks’ to “provide payment services and deposit products to small businesses and low-income households” with a maximum balance of Rs 50,000 per customer.

Which of the above is/are the recommendation?

  1. (i) only
  2. (iii) only
  3. . (i) and (ii)
  4. All of the above


2. Liquidity preference refers to:

a) the extent to which investors prefers to keep their assets in money.
b) RBI’s shareholdings in other financial institutions.
c) Community’s preference for gold.
d) Community’s effective demand for capital goods.


3. Which of the following factor(s) aid in financial inclusion?

  1. That under National optical fiber network, government plans to connect all Gram Panchayats with internet connection.
  2. That Mobile penetration is increasing day by day in rural areas
  3. That as per Census 2011, India’s working age population (15-64 years) is more than 60%

Point out the correct choice

  1. only 1 and 2
  2. only 1 and 3
  3. only 2 and 3
  4. All of above


4. Which of the following is/are responsible for excessive gold consumption in India?

  1. Inflation
  2. Lack of access or awareness about financial markets.
  3. High Volatility in share market.
  4. High rate of returns on investment in share market.


  1. Only (i) and (ii)
  2. Only (i), (ii) and (iii)
  3. Only (i), (ii) and (iv)
  4. All of above.


5. Incorrect statements about savings in India?

  1. It comes from three sources: households, private corporate sector and public sector.
  2. Bank deposits, life insurance funds, pension and provident funds, shares and debentures are examples of physical savings.
  3. Savings rate has been above 30% in recent years.
  4. None of above.


6.Deficit financing leads to inflation in general, but it can be checked if

  1. government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
  2. only aggregate demand is increased
  3. all the expenditure is denoted national debt payment only
  4. All of the above


7. Since Independence, both plan and non-plan expenditures have increased, the increase in non-plan expenditure is little more than the former. Which one of the following expenditure causes the increase in non-plan-expenditure and select the correct answer using the codes

  1. Interest payment
  2. Subsidy
  3. Irrigation


(a) 1, 2 and 3            (b) 1 and 2

(c) 1 and 3                (d)     Only 2


Which of the following sequences is the correct sequence about the power generation by power sources?

  1. Hydroelectric
  2.  Nuclear
  3. Thermal
  4. Bhutan import

Select the correct answer from codes given below

(a) 1, 3, 2, 4               (b) 1, 3, 4, 2

(c) 3, 2, 1, 4               (d) 3, 1, 2, 4


9. Which one of the following can aid in furthering the Government’s objective of inclusive growth?

  1. Promoting self-help group.
  2. Promoting micro, small and medium enterprise
  3. Implementing the rights to education.

Select the correct answer using the codes given below

(a) 1, 2, and 3             (b)      1 and 3

(c) 1 and 2                  (d)      Only 2


10. Which of the following constitute the World Bank?

  1. International Bank of Reconstruction and Development
  2. International Financial Corporation
  3. International Development Association
  4. International Monetary Fund

Choose the correct answer suing the codes given below

(a) 1, 2 and 3             (b) 1, 2, 3 and 4

(c) 2 and 3                  (d) 3 and 4



Solutions:- a=1,b=2,c=3,d=4

  1. D
  2. A
  3. A
  4. B
  5. B
  6. D
  7. B
  8. D
  9. A
  10. A

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