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Indian Economy MCQs with Answer
Q: Which of the following products of Tripura ranks Second in all India level in terms of production ?
A: Paddy
B: Bamboo
C: Natural gas
D: Natural rubber
Answer
Natural rubber
Q: In India, present trend of rapid urbanization is due to:
A: lack of employment opportunities in rural areas
B: influence of cinema and electronic media
C: break up of joint family system
D: abolition of zamindari tystem
Answer
lack of employment opportunities in rural areas
Q: Which of the following is not an asset held by the commercial bank ?
A: Bills of exchange
B: Current account deposits
C: Money lent at short notice
D: Credit balances with the Reserve Bank
Answer
Current account deposits
Q: Who was the head of the 10th Finance Commission?
A: K.C. Pant
B: Manmohan Singh
C: Vasant Sathe
D: Shiv Shankar
Answer
K.C. Pant
Q: What is the 'Repo rate' ?
A: It is the rate at which International Aid Agencies lend to RBI
B: It is the rate at which the banks lend to RBI
C: It is the rate at which RBI borrows from the market
D: It is the rate at which RBI lends to banks
Answer
It is the rate at which RBI lends to banks
Q: NABARD stands for:
A: National Activated Bank for Agriculture and Rural Development
B: National Bank for Agriculture and Rural Development
C: National Agricultural Backward and Rural Development
D: National Bank for Accelerated Rural Development
Answer
National Bank for Agriculture and Rural Development
Q: GST abolishes which of the following taxes ?
A: Corporation tax
B: Service tax
C: Income tax
D: Wealth tax
Answer
Service tax
Q: Economic growth is usually coupled with ___________.
A: deflation
B: inflation
C: Stagflation
D: hyper inflation
Answer
inflation
Q: If withdrawal of a worker from employment does not create any output loss, this situation is known as
A: Search unemployment
B: Voluntary unemployment
C: Disguised unemployment
D: Frictional unemployment
Answer
Disguised unemployment
Q: Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?
A: National Farmers Commission
B: Commission for Agricultural Costs and Prices
C: Central Statistical organization
D: Department of Agriculture
Answer
Commission for Agricultural Costs and Prices
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