ECONOMICS QUESTIONS

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ECONOMICS QUESTIONS

economy

Set-c

Set of general knowledge questions on economics and Indian economy.

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 15 economics questions.

QUESTIONS:-

  1. Consider the following statements about the measurement of the inflation     a.Prices of the items of particular sets are compared to prices of items of five year ago.                                                                                                                                          b.Inflation is measured based on the Consumer price Index (CPI) which measures the change in prices of a selection of goods at retail rates.

Which of the statements given above is/are correct?

(a) Only 1                      (b) Only 2

(c) Both 1 and 2            (d) Neither 1 nor 2

  1. Consider the following statements                                                                              a.Countervailing duties are trade import duties imposed under the United Nations Organisation.                                                                                                                   b.Countervailing duties are imposed under Word Trade Organisation (WTO) Rules to neutralise the negative effects of subsidies.

Which of the statements given above is/are correct?

(a) Only 1

(b) Only 2

(c) Both 1 and 2

(d) Neither 1 nor 2

  1. Which one of the following is not the component of the services sector of Indian Economy?

(a) Insurance and Finance

(b) Community and Personal

(c) Construction

(d) Trade and Hotel

  1. Match List I with List II and select the correct answer using the codes given below the lists

           List I                             List II

           (Five Year Plan)           (Objective)

  1. First Plan 1. Growth with social justice
  2. Third Plan 2. Sustainable inclusive growth
  3. Fifth Plan 3. Self reliant and self generating economy
  4. Twelfth Plan 4. Agriculture irrigation and power projects

Codes

A    B     C    D

(a) 2     4      3     1

(b) 2     3      4     1

(c) 4     3      1     2

(d)       1      3     2      1

  1. Consider the following components of the PURA model of economic                               development                                                                                                                   1.Facilitate road connectivity in villages.                                                                     2.Enhancement of electricity in rural areas                                                                   3.Establishment of cyber cafe in village                                                                           4.Construction of hospital in rural areas.

Which of the components given above is/are the major connectivity formulated by the PURA model?

(a) 1 and 4

(b)    1, 2, and 4

(c) 1, 2, and 3

(d) 1, 2, 3 and 4

  1. Consider the following statements                                                                                  1.Average growth rate of the agriculture and allied services in Indian Economy after independence is more than 4%.                                                                                             2.After the economic liberalization in 1991, the decline in share of agriculture in GDP has been balanced by the increase in share of the services sector.

Which of the statements given above is/are correct?

(a) Only 1

(b) Only 2

(c) Both 1 and 2

(d) Neither 1 nor 2

  1. Consider the following organizations                                                                                1.International Bank for Reconstruction and Development (IBRD)                       2.International Finance Corporation (IFC)                                                                   3.International Fund for Agricultural Development (IFAD)                                            4.International Monetary Fund (IMF)

Which of these are agencies of United Nations?

   (a) 1, 2, 3 and 4

(b) 1, 2 and 3

(c) 2 and 3

(d) 3 and 4

  1. Under which of the following circumstances may ‘capital gains’ arise?                        1.When there is an increase in the sales of a product                                                     2.When there is a natural increase in the value of the property owned.                               3.When you purchase a painting and there is a growth in its value due to increase in its popularity.

Select the correct answer using the codes given below

(a) 1 and 2

(b) 1 and 3

   (c) 2 and 3

(d) Only 2

  1. Consider the following statements regarding Reserve Bank of India                          1.It is a banker of the Central Government.                                                                              2.It formulates and administers monetary policy                                                                      3.It acts as an agent of the Government in respect of India.                                                    4.It handles the borrowing programs of Government of India.

Which of the statements given above is/are correct?

(a) 1, 2, 3 and 4

(b) 1, 2 and 3

   (c) 1 and 2

(d) 3 and 4

  1. Consider the following functions of the Foreign Exchange Management Act (FEMA)                                                                                                                                       1.FEMA restricts activities such as payments made to any person outside India or receipts from them.                                                                                                               2.FEMA imposes restriction on people living in India who carry out transactions in foreign exchange, foreign security or who own or hold immovable property abroad.       3.FEMA regulates the exporters to furnish their export details to RBI.

Which of the statements given above is/are correct?

   (a) 1, 2 and 3

(b) 1 and 3

(c) 2 and 3

(d) Only 1

 

 

Answer for economics questions set c

Ans1- (a) http://pib.nic.in/newsite/PrintRelease.aspx?relid=136371

Ans2-(b)countervailing duty is  an import tax imposed on certain goods in order to prevent dumping or counter export subsidies. https://www.wto.org/english/tratop_e/scm_e/scm_e.htm

Ans3-(c)

Ans4- (c) https://en.wikipedia.org/wiki/Five-Year_Plans_of_India

Ans5-(d) http://www.pib.nic.in/newsite/feacontent.aspx?relid=66272

Ans6-(b)

Ans7-(a)

Ans8-(c)

Ans9-(c)

Ans10-(a) https://en.wikipedia.org/wiki/Foreign_Exchange_Management_Act

All the economics questions listed above are prepared after a good research and basic in nature current and economic survey question will also be there keep following and all the best to all who are prepping for the examinations.