general economy questions and answers for competitive exams

general economy questions and answers for competitive exams which asked Previous Exams  .these Questions Helps to prepare UPSC ,SSC, Bank exams General Awareness Part and All also various competitive exams and Entrance Exams Preparation

1 .The Reserve Bank of India was nationalised in the year
A.  1980
B.  1935
C.  1969
D.  1949
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2 .How do you calculate the poverty line?
A.  Income of an individual under a threshold value published by Government of India
B.  Average income of all the individuals in a country
C.  Income of any individual less than 50 INR in a day
D.  Income of a family less than 100 INR in a day
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3 .Indian Special Economic Rules amendment came in the year
A.  2006
B.  2002
C.  2000
D.  2004
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4 .The Draft of the Five Year Plans in India is approved by the
A.  National Productivity Council
B.  Ministry of Finance
C.  Planning Commission
D.  National Development Council
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5 .Which is not the objective of Public Procurement and Distribution system followed by Indian Government ?
A.  Protect the interests of both consumers and poor farmers
B.  Maintain price stabi lity through creation of buffer stocks
C.  Control the production of food grains
D.  Reduce personal and regional inequality in the distribution
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6 .Which one of the following currencies has the highest value in terms of rupee ?
A.  Pound
B.  Dollar
C.  Euro
D.  Saudi Rial
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7 .Planning and control are so related that
A.  Both go on simulta-neously in cycle
B.  Planning initiates control
C.  Both are equivalent
D.  Control initiates planning
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8 .In a Capitalistic Economy, the prices are determined by :
A.  Government Authorities
B.  Demand and Supply
C.  Sellers in the Market
D.  Buyers in the Market
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9 .When there is a change in demand leading to a shift of the Demand Curve to the right, at the same price as before, the quantity demanded will
A.  remain the same
B.  decrease
C.  contract
D.  increase
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10 .What is the maximum number of days of employment a rural poor would get under 'MGNREGA'?
A.  180 days
B.  100 days
C.  120 days
D.  90 days
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11 .What is the revised upper limit for foreign direct investment in telecom service companies ?
A.  66 per cent
B.  74 per cent
C.  49 per cent
D.  51 per cent
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12 .The fringe benefit tax was introduced in the budget of
A.  2006-07
B.  2005-06
C.  2003-04
D.  2004-05
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13 .Consider the following statements : a. NTPC has diversified to hydropower sector b. Power Grid Corporation has diversified into telecom sector. Which of the statements below is correct ?
A.  None of a and b
B.  Only b
C.  Both of a and b
D.  Only a
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14 .Indian Economy is a/an :
A.  Mixed Economy
B.  Independent Economy
C.  Capitalist Economy
D.  Communist Economy
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15 .Which Five Year Plan is not correct among the following ?
A.  First 1951-56
B.  Third 1961-66
C.  Second 1956-61
D.  Fouth 1966-71
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