General Awareness: Economics Quiz 9

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

1. The balance of the payments deficit in India can be eased by
a) conserving the foreign exchange reserves
b) promotion of exports
c) liberalisation of imports
d) export promotion and import substitution

2. What was the main objective of Green Revolution in India ?
a) To increase the extent of cash crop cultivation
b) To increase the area of green forests under social forestry scheme
c) Modernisation of agriculture through science and technology
d) To introduce the Japanese method of paddy cultivation

3. During which Plan period did agricultural production register a negative growth?
a) First
b) Second
c) Third
d) Fourth

4. Recession is that economic state of a country when there is
a) accumulation of unsold stocks
b) slump in trade and industry
c) fall in consumer demand
d) All the above

5. India opted for 'Mixed Economy' in?
a) First Five Year Plan
b) Second Five Year Plan
c) Industrial Policy of 1948
d) Framing of the Constitution

6. Which one of the following is NOT amethod of measurement of National Income
a) Value added method
b) Income method
c) Expenditure method
d) Investment method

7. Which amongst the following states/UTs has Not identified tribal community
a) Chhattisgarh
b) Haryana
c) Maharashtra
d) Karnataka

8.Deficit financing means that the government borrows money from the?
a) RBI
b) local bodies
c) big businessmen
d) IMF

9.Revenue of the state governments are raised from the following sources, except?
a) entertainment tax
b) expenditure tax
c) agricultural income tax
d) land revenue

10.The co-operative credit societies have a?
a) two-tier structure
b) three-tier structure
c) four-tier structure
d) five-tier structure

11. The ‘interest Rate Policy’ is a component of
a) Fiscal Policy
b) Monetary Policy
c) Trade Policy
d) Direct Control

12. ‘Gresham’s Law’ in Economics related to
a) Supply and demand
b) Circulation of currency
c) consumption of supply
d) distribution of goods and services

13. A mixed economy works primarily through the
a) market mechanism
b) central allocative machinery
c) market mechanism regulated by Government policy
d) market mechanism guided by Government participation and planning

14. Planning may be defined as the conscious and deliberate choice of economic priorities by some public authority is view of?
a) Lionel Robbins
b) Prof. Durbin
c) Barbar wooton
d) Charles Bettlenheim

15. Increase in Gross National Product without inflation is called?
a) Growth with stability
b) Infrastructure of a perfect economy
c) Deflation
d) None of the above


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

Economics Quiz 10
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