General Awareness: Economics Quiz 10

Important Economics Question & Answers for SSC / Basic Economics Quiz / Economics Quiz for Competitive Exams Conducted By SSC, Railway Recruitment Board, UPSC, IBPS etc

1. India has been classified as ___________ by the World Bank on the basis of the size & composition of external debt.
a) Less indebted country
b) Highly indebted country
c) Moderately indebted country
d) None of these

2. Development expenditure of the Central government does not include
a) defence expenditure
b) expenditure on economic services
c) expenditure on social and community services
d) grant to states

3.Devaluation of a currency means
a)  reduction in the value of a currency vis-a-vis major internationally traded currencies
b) permitting the currency to seek its worth in the international market
c) fixing the value of the currency in conjunction with the movement in the value of a basket of   pre-determined currencies
d) fixing the value of currency in multilateral consultation with the IMF, the World Bank and    major trading partners

4. NREGP is the abbreviated form of
a) National Rural Employment Guarantee Programme
b) National Rural Educational Guarantee Programme
c) National Rapid Employment Guarantee Programme
d) National Rapid Educational Guarantee Programme

5. The main source of National Income in India is
a) Service Sector
b) Agriculture
c) Industrial Sector
d) Trade Sector

6. Which one of the following types of unemployment is common in Indian agricultural sector
a) Seasonal
b) Disguised
c) Frictional
d) Structral

7. Who wrote a book describing the theory of economic drain of India during British rule
a) Late lajpat rai
b) Mahatma Gandhi
c) Jawaharlal nehru
d) Dadabhai naoroji

8. The philosophy of 'Laissez-faire' is associated with ?
a) Gandhian State
b) Industrial State
c) Socialist State
d) Welfare State

9. When was the National Bank for Agriculture and Rural Development (NABARD) set up?
a) 1975
b) 1980
c) 1982
d) 1990

10. The former name of State Bank of India was
a) Central Bank of India
b) United Bank of India
c)  Imperial Bank of India
d) People’s Bank of India

11. National Sample Survey Organisation (NSSO) was established in?
a) 1950
b) 1951
c) 1952
d) 1947

12. Which state stands first in the length of roads in the country?
a) U. P.
b) M. P.
c) Maharashtra
d) Rajasthan

13. When was Focus Market Scheme introduced?
a) 2003-04
b) 2004-05
c) 2005-06
d) 2006-07

14. The central banking functions in India are performed by the?
I. Central Bank of India
II. Reserve Bank of India
III. State Bank of India
IV. Punjab National Bank
a) I, II
b)  II
c) I
d)  II, III

15. Gilt-edged market means
a) bullion market
b) market of government securities
c) market of guns
d)  market of pure metals


1. A      2. A      3. A      4. A      5. A       6. B      7. D       8. B      9. C      10. C       11. A      12. C        13. D       14. B       15. B

Economics Quiz 1
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