DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY MCQs
DOWNLOAD MOBILE APPLICATION TO LEARN MORE: INDIAN ECONOMY MCQs
Table of Contents
INDIAN ECONOMY MCQs
Q1. What do we understand by Economics?
a) studies different economic activities
b) directed towards the maximisation of satisfaction
c) directed towards maximisation of profit and social welfare
d) all of the above
Answer: d
Q2.What is Economic activity?
a) related to the use of scarce resources for the satisfaction of human wants
b) not related to the scarce resources
c) related to the alternative resources
d) none of the above
Answer: A
Q3.Scarcity of resources refers to a
a) situation when supply of a good exceeds its demand
b) situation when demand of a good exceeds its supply
c) situation when supply and demand of a good is constant
d) situation when supply and demand of a good is abundant
Answer: B
Q4.In Economics Goods refer to
a) a thing that can not satisfy human wants
b) anything that is important for human beings
c) anything that can satisfy human wants
d) a thing which give relaxation to the human beings
Answer: C
Q5.The term Micro Economics includes
a) study of economic relationships or problem at individual level
b) concerned with determination of output and price for an individual or firm
c) a study of economy as a whole
d) a and b both
Answer: d
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Q6. What do you understand by Macro Economics?
a) studies general problems of individuals
b) study of economic relationships or problems of the economy as a whole
c) concerned with determination of aggregate output & general price level as a whole
d) b & c both
Answer: d
Q7. What is the meaning of Economy?
a) refers to the nature and level of economic activities in an area
b) include production, consumption ,investment and exchange
c) a theory of scarcity of resources
d) a and b both
Answer: d
Q8. The term Production refers to
a) conversion of output into input
b) satisfaction of human wants
c) combination of investment & consumption
d) conversion of input into output
Answer: d
Q9. Consumption can be explained as
a) means of investment
b) using of goods and services for the satisfaction of human wants
c) using up goods for further production
d) sale and purchase of goods
Answer: B
Q10. Investment can be defined as
a) utilizing the goods and services for the satisfaction
b) utilizing the services for production
c) using up goods for further production
d) none of the above
Answer: C
Q11. What does National Income stand for?
- total value of a country’s final output of all new goods & services produced in one year
- total value of country’s final output of existing goods & services
- value of goods & services produced in two years
- goods & services produced in an economy
ANSWER:A
Q12.Gross Domestic Product (GDP) refers to
- total money value of the goods produced in other countries
- total money value of final goods & services produced in the economic territories of a country in a given year
- money value of the final goods which will be produced in future
- none of the above
ANSWER:B
Q13.The Gross National Product (GNP) includes
- total value of goods & services produced by a country
- value of goods & services measured in monetary terms
- country’s final output of goods
- total value of goods & services produced by the people of a country in a given year
ANSWER:D
Q14. What do we understand by Monetary Policy?
- a policy made by the Commercial Banks
- a policy which is governed by the Government of a country
- refers to the policy of the Central Bank
- all of the above
ANSWER: C
Q15.What RBI stands for
- Reverse Bank of India
- Revolutionary Bank of Indonesia
- Reserve Bank of India
- Rajasthan Bank of India
ANSWER:C
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Q16.What is the meaning of Re Purchase Option (REPO Rate)
- the rate by which commercial banks give loan
- refers to the rate by which people take the loan from the banks
- the rate by which Government borrow money from banks
- the rate by which RBI gives loans to other banks
ANSWER:D
Q17.Reverse REPO Rate (RREPO Rate) can be explained as
- the rate lower than REPO rate by which RBI borrows from banks
- the rate higher than REPO rate by which banks borrow money from others
- a & b both
- none of the above
ANSWER:A
Q18.Scheduled bank in India refers to
- a bank which is listed in the 3rd schedule of the Reserve Bank of India
- a bank which is listed in the 2nd schedule of the Reserve Bank of India act 1934
- refers to a bank amended by Reserve Bank Of India
- all of the above
ANSWER:B
Q19.Marginal Standing Facility is the rate at which
- commercial bank could borrow money overnight from RBI
- public sector banks can borrow money from RBI
- scheduled banks could borrow money overnight from RBI against approved securities
- a & b both
ANSWER:C
Q20. What do you mean by Bank Rate?
- a lower rate than REPO rate
- refers to the rate given by RBI to other banks for loan
- the rate given on Fixed Deposits
- a higher rate charged by RBI when it gives loans to commercial banks
ANSWER:D
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