Indian Economy previous years question MCQ UPSC / SSC / competitive exams

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Find (Indian Economy) Economics previous years asked question MCQ   UPSC / SSC / competitive exams  Online Practice Questions And Answers quiz

16 .What is Laissez-faire?
A.  Non-interference· of Government in economic affairs
B.  None of these
C.  Mixed economy
D.  Controlled economy
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17 .Consider the following statements about Sinking Fund:
1. It is a method of repayment of public debt.
2. It is created by the government out of budgetary revenues every year. Which of the statements given above is/are correct?
A.  2 only
B.  Neither 1 nor 2
C.  Both 1 and 2
D.  1 only
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18 .Among Indian Economists who had done pioneering work on National Income ?
A.  P. N. Dhar
B.  V. K. R.V. Rao
C.  Prof. Shenoi
D.  Jagdish Bhagwati
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19 .____ is the ex-officio chairman of Planning Commission and National Development Council.
A.  President
B.  Commerce Minister
C.  Finance Minister
D.  Prime Minister
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20 .Increase in Oil Pool Deficit implies:
A.  domestic oil price is comparatively more than international price
B.  none of these
C.  increasing gap between international and domestic oil prices
D.  government's Fiscal Deficit goes up
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21 .What is the correct sequence of the following strategies used for Five Year Plans in India?
1. Balanced growth
2. Rehabilitation of the economy
3. Industrial development

A.  2, 3, 1
B.  3, 2, 1
C.  1, 3, 2
D.  2, 1, 3
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22 .Who among the following are not protected against inflation.?
A.  Salaried class
B.  Industrial workers
C.  Pensioners
D.  Agricultural farmers
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23 .What is the main source of revenue to meet different expenditures?
A.  Internal borrowings
B.  Customs duties
C.  Income tax
D.  Excise duties
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24 .In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years?
A.  Excise duty
B.  Service tax
C.  Personal income tax
D.  Corporation tax
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25 .A tax Which is paid by the person on whom the tax is incident is called a :
A.  direct tax
B.  indirect tax
C.  local tax
D.  rate
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26 .The per capita income is obtained by:
A.  estimating the minimum income of individual citizens
B.  summing up the income of all the citizens of the country
C.  dividing national income by the population
D.  dividing the total national capital with the profit earned
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27 .What is the role of 'Over-the Counter Exchange' (OTC)?
A.  Help in the introduction of multi-tiered markets and import liquidity to them
B.  All of the above
C.  To arrange funds from different foreign banks of developing/ under developing countries
D.  Help to overcome the balance of payment crisis
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28 .A deflator is a technique of:
A.  adjusting for change in commodity
B.  accounting for decline of GNP
C.  adjusting for changes in price level
D.  accounting for higher increase of GNP
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29 .Which of the following pairs are correctly matched?
1. Dow Jones: New York
2. Hang Seng: Seoul
3. FTSE-100:London
Select the correct answer using the codes given below:

A.  1 and 2
B.  1, 2 and 3
C.  1 and 3
D.  2 and 3
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30 .What does S & P 500 relate to?
A.  A new technique in e-business
B.  Supercomputer
C.  An index of stocks of large companies
D.  A new technique in bridge building
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