General Awareness: Economics Quiz 5

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

1. Redistribution polices geared to reduce economic inequalities include?
a)  Land reforms
b) Progressive tax policies
c)  Rural development policies
d) All of the above

2.The Budget Deficit means?
a) Difference between revenue receipts and revenue expenditure
b) Fiscal deficit less interest payments
c) Difference between all the receipts and all the expenditure
d) The excess of total expenditure, including loans, net of lending over revenue receipts

3.In the second phase of nationalization of commercial banks, how many banks were nationalized?
a) 4
b) 6
c) 8
d) 10

4. How will a reduction in ‘Bank Rate’ affect the availability of credite?
a) Credit will increase
b) credit will not increase
c) credit will decrease
d) None of these

5. When a large number of investors in a country transfer investment elsewhere because of disturbed economic condition, it is called
a) Transfer of Capital
b) Escape of Capital
c) Outflow of capital
d) Flight of Capital

6. ‘Golden Handshake Scheme’ is associated with
a) inviting foreign companies
b) private investment in public enterprises
c) establishing joint enterprises
d) Voluntary retirement

7. The slogan of ‘Garibi Hatao’ (Remove Poverty) was launched in:
a) 1st Plan
b) 4th Plan
c) 5th Plan
d) 6th Plan

8. SEBI was given statutory status in:
a) 1988
b) 1992
c) 1998
d) 1993

9.In which year was the first bank in India established ?
a) 1820
b) 1810
c) 1806
d) 1800

10.Who was the first Indian Governer of the Reserve Bank of India ?
a) C.D. Deshmukh
b) Sachindra Ray
c) S. Mukherjee
d) None of these

11.The first indigenous bank which came into existence in 1894 was
a) Central Bank of India
b) Punjab National Bank
c) Reserve Bank of India
d) Imperial Bank of India

12.The Export Import (EXIM) Bank was set up in
a) 1980
b) 1982
c) 1981
d) 1989

13.The National Bank of Agriculture & Rural Development (NABARD) was set up in
a) 1979
b) 1980
c) 1981
d) 1982

14. The first wholly Indian Bank was set up in
a) 1794
b) 1894
c) 1896
d) 1902

15. States earn maximum revenue through
a) land revenue
b) custom revenue
c) commercial taxes
d) excise duties on intoxicants


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

Economics Quiz 6
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