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Set-1 Indian Economics Previous Year Questions
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1. An economic system combining private and state enterprise is called as _____
1. Market economy
2. Centrally planned economy
3. Private economy
4. Mixed economy
2.What was the main motive of Third Five Year Plan in India?
1. Rural development
2. Agriculture
3. Financial inclusion
4. Economic reform
3.When there is only one buyer and one seller of product, it is called _____ situation.
1. Public monopoly
2. Bilateral monopoly
3. Franchised monopoly
4. Monopsony
4.Which among the following is not an account under Balance of Payment (BOP)?
1. Current Account
2. Capital Account
3. Official Reserves Account
4. Financial accout
5.Who gave the ‘General Equilibrium Theory’?
1. J. M. Keynes
2. Leon Walras
3. David Ricardo
4. Adam Smith
6.What is the accepted average Calorie requirement for rural area in India?
1. 2100
2. 2200
3. 2300
4. 2400
7.At which rate, Reserve Bank of India borrows money from commercial banks?
1. Bank Rate
2. Repo Rate
3. Reverse Repo Rate
4. Statutory Liquidity Rate
8.Movement along the supply curve is known as ______ .
1. Contraction of supply
2. Expansion of supply
3. Increase in supply
4. Expansion and contraction of supply
9.Lowering of value of currency relative to a foreign reference currency is called _________.
1. Devaluation
2. Revaluation
3. Down valuation
4. Negative valuation
10.If demand curve for camping tents is D = 100000 – 17P and supply curve is S = 50000 + 8P, find the equilibrium Price?
1. Rs. 1000
2. Rs. 2000
3. Rs. 4000
4. Rs. 500
11.Fiscal policy in India is formulated by –
1. Reserve Bank of India
2. Planning Commission
3. Finance Ministry
4. SEBI
12.What is MUDRA?
1. Development and Refinance Agency
2. Scheme for Agricultural Insurance
3. New Planet Discovered
4. Development and Regulatory Authority for Urban Township
13.Lorenz curve shows
1. Inflation
2. Unemployment
3. Income distribution
4. Poverty
14.Who takes the decision regarding the savings and loan activities in a Self Help Group (SHG)?
1. Private Bank
2. Reserve Bank of India
3. Members of Group
4. Non Government Organizations
15.”World Economic Outlook” report is published by which of the following ?
1. IMF
2. World Bank
3. RBI
4. UNCTAD
16.The rate of tax increase as the amount of the tax base increases is called?
1. Proportional tax
2. Progressive tax
3. Regressive tax
4. Degressive tax
17.HDI is an aggregate measure of progress in which of the three dimensions?
1. Health, Education, Income
2. Food Security, Employment, Income
3. Agriculture, Industry, Services
4. Height, Weight, Colour
18.The operational period of 12th Five Year Plan is –
1. 2007-12
2. 2012-17
3. 2015-20
4. 2005-10
19.In which of the following States India’s first Green Rail Corridor was launched in –
1. Karnataka
2. Maharashtra
3. Himachal Pradesh
4. Tamil Nadu
20.Which place is said to be the Manchester of South India?
1. Coimbatore
2. Salem
3. Thanjavur
4. Madurai