1900+ UPSC Economy MCQ Previous Year Questions paper Online Practice

1900+ UPSC Economy MCQ Previous Year Questions paper Online Practice IAS /IPS Prelims General Studies Preparation Online free Here Below

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Structure & Organisation of Economy ,  Economic Planning & Related Issues ,  Money, Banking & Public Finance, Monetary Policy & Financial Organisation ,  Basic Economic Terms & Concepts,  Secondary & Tertiary Sector (Industry & Services) Primary Sector (Agriculture),  Current Events, External Sector. Government Initiatives, World Economy

1.  Highest per capita income is inversely correlated with the proportion of active population engaged in
a
  Service
b
 All of the these
c
 Agriculture
d
 Industry
Answer & Explanation
Answer : Option B
2.  Which one of the following governmental steps has proved relatively effective in controlling the doubledigit rate of inflation in the Indian economy during recent years?
a
  Enhanced rate of production of all consumer goods
b
 Containing budgetary deficits and unproductive expenditure
c
 Pursuing an export-oriented strategy
d
 Streamlined public distribution system
Answer & Explanation
Answer : Option B
3.  A deflator is a technique of
a
  Accounting for higher increase of GNP
b
 Adjusting for change in commodity
c
 Accounting for decline of-GNP
d
 Adjusting for changes in price level
Answer & Explanation
Answer : Option D
4.  Ministry of Shipping has organised a Coastal Economic Zones workshop under which programme in July 2016?
a
  Sagarmanthan
b
 Sagarpath
c
 Sagarjanak
d
 Sagarmala
Answer & Explanation
Answer : Option D
5.  Which union territory has the least literacy rate?
a
  503
b
 303
c
 603
d
 403
Answer & Explanation
Answer : Option C
6.  Which of the following states have a density below the national average? A. Rajasthan B. Karnataka C. Orissa D. Goa
a
  A, B, C and D
b
 A and B
c
 B and C
d
 A, B and C
Answer & Explanation
Answer : Option D
7.  CENVAT is related to-
a
  Custom Duty
b
 Service Tax
c
 Sales Tax
d
 Excise Duty
Answer & Explanation
Answer : Option C
8.  British colonial authorities did not oppose the setting up of cotton mills in India by local capitalists during the 19th century because
a
  the coast of producing mill cloth in India was higher
b
 the quality of Indian mill-made cloth was inferior
c
 the first mills set up in India were spinning mills which competed with indigenous hard spinning
d
 it was too expensive to transport textiles to U.K.
Answer & Explanation
Answer : Option C
9.  Tourism industries India is quite a small compared to many other countries in term of India potentials and size Which one of the following statement is correct in this regard?
a
  In India the infrastructure required for attracting tourists is inadequate
b
 Most of the picturesque resort in India such as in North- East and Kashmir are, for all practical purposes, out of bounds
c
 For most of the months India is too hot for western tourist to feel comfortable
d
 Distances in India are too far apart and its luxury hotels are too expensive for western tourists
Answer & Explanation
Answer : Option A
10.  Which among the following is an example of Green Field Investment?
a
  Investment made by a company to clean up a cement factory located in populated area because of its pollution and using it for a commercial office purpose
b
 Investment made by a company to clean up a cement factory located in populated area because of its pollution and using it for a residential purpose
c
 Investment made by a real estate company in agriculture land to develop it later when the land prices increase
d
 Investment made by a company in a new factory complex in a remote land of the country where there was no facilities
Answer & Explanation
Answer : Option D
11.  Economic growth is usually coupled with
a
  Deflation
b
 Stagflation
c
 Inflation
d
 Hyperinflation
Answer & Explanation
Answer : Option C
12.  The Raj Committee (1972) probed
a
  direct taxes
b
 no tax revenue
c
 indirect taxes
d
 agricultural holding tax
Answer & Explanation
Answer : Option D
13.  In the context of food and nutritional security of India, enhancing the 'Seed Replacement Rates' of various crops helps in achieving the food production targets of the future. But what is/ are the constraint/ constraints in its wider/greater implementation?
a
  1 and 2
b
 2 and 3
c
 None of these
d
 3 only
Answer & Explanation
Answer : Option D
14.  The largest share of revenue receipts of the State Government comes from
a
  general sales tax
b
 land revenue
c
 share of union excise duty
d
 registration fees
Answer & Explanation
Answer : Option A
15.  Which of the two employment programmes are being merged in newly introduced Prime Minister's Employment Generation Programme?
1. Universalization of elementary education
2. Growth and diversification of agriculture
3. Containment of population growth
4. Gradual privatization of most public sector undertakings Choose your answer from the following codes
a
  1 and 2
b
 1 and 3
c
 1 only
d
 2 and 4
Answer & Explanation
Answer : Option B
16.  Consider the following:
1. Central Government
2. State Governments
a
  1, 2 & 3
b
 Only 1 & 3
c
 Only 2 & 3
d
 Only 1
Answer & Explanation
Answer : Option D
17.  The areas in India that receive approximately an average of more than 200 cm of rainfall annually are
a
  Meghalaya, Delhi, Punjab, Rajasthan
b
 Orissa, Madhya Pradesh, Gujarat, Maharashtra
c
 Meghalaya, Assam, Nagaland, Arunachal Pradesh
d
 Meghalaya, Assam, Rajasthan, Jammu & Kashmir
Answer & Explanation
Answer : Option C
18.  With which crop has the Green Revolution in India been associated?
a
  Cotton
b
 Sugarcane
c
 Maize
d
 Wheat
Answer & Explanation
Answer : Option D
19.  Consider the following statements:
1. The Lok Sabha in February 2017 passed the Specified Bank Notes Cessation of Liabilities Bill 2017
2. The bill replaces the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2015
3. The bill exempts a person to hold up to 25 old notes for the purpose of study, research or numismatics (collection or study of coins or notes) Select the correct answer using the codes given below: Codes:
a
  Only 1 & 2
b
 All of the above.
c
 Only 1 & 3
d
 Only 2 & 3
Answer & Explanation
Answer : Option C
20.  Who is the ex-officio Chairman of the Planning Commission of India ?
a
  The Finance Minister of India
b
 The Prime Minister of India
c
 Vice-President of India
d
 The Law Minister of India
Answer & Explanation
Answer : Option B
21.  Statement I: TRIMS agreement refers to conditions or restrictions imposed on foreign investors Statement II: TRIMS agreement specifically forbids imposing restrictions on operations of an enterprise which result in protecting domestic products and making imports disadvantageous Codes:
a
  Welfare approach
b
 Employment approach
c
 Growth approach
d
 Income approach
Answer & Explanation
Answer : Option D
22.  In India, which of the following have the highest share in the disbursement of credit to agriculture and allied activities?
a
  Microfinance institutions
b
 Regional rural banks
c
 Cooperative banks
d
 Commercial banks
Answer & Explanation
Answer : Option D
23.  What was the main aim of Bearer Bonds Scheme?
a
  To enable the black money holders to invest for rural reconstruction programme
b
 To mop up black money
c
 None of the above
d
 To enable the public to deposit money with the government for development
Answer & Explanation
Answer : Option C
24.  The objective of which company is to identify port led development projects under Sagarmala?
a
  Jawaharlal Nehru Port Trust Authority
b
 None of the above
c
 Sagarmala Development Company
d
 Sagarmala Port Trust Authority
Answer & Explanation
Answer : Option C
25.  The Kelkar proposals which were in the news recently were the:
a
  recommendations for tax reforms.
b
 guidelines for reducing vehicular pollution, and the promotion of CNG use.
c
 guidelines for the privatization of public sector undertakings.
d
 recommendations for reforms in the power sector.
Answer & Explanation
Answer : Option A

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