Quiz 46: Basic GK →Indian Economy

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1. Which among the following Five Year Plans was launched with specific objective of “Growth with Stability”?
[A] 3rd Five year Plan
[B] 4th Five year Plan
[C] 5th Five year Plan
[D] 6th Five year Plan

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2. If the demand and supply of a commodity increase by an equal absolute amount, what will be the effect on market price?
[A] Increase
[B] Decrease
[C] Remain Stable
[D] First decrease then increase

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3. A rise in price of one commodity will induce a fall in demand of another commodity, then the commodities are___?
[A] Complimentary
[B] Supplementary
[C] Competing
[D] Auxiliary

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4. Which among the following is a most suitable example of double counting in national income ?
[A] Wages of bus and train drivers
[B] Cotton output and cotton cloth output
[C] Electricity output and water output
[D] Tax receipts and earnings of inland revenue officials

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5. Which among the following is considered to be the best measure of an increase in a country’s economic efficiency ?
[A] Increase in annual private investment
[B] Increase in real national income
[C] Increase in real per capita income
[D] Increase in net annual investment

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6. Why the Transfer incomes are not included in the national income accounts?
[A] They do not represent payment for economic activity
[B] There is now way of calculating them correctly
[C] They are already included in the total of personal income
[D] They are already included in company earnings

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7. An autonomous increase in expenditure should result in an increase in a country’s real GNP only if ?
[A] The country’s balance of trade is negative
[B] The country’s economy is working under conditions of less than full employment
[C] It is government expenditure
[D] The multiplier is at least 1.5

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8. Which among the following is considered to be the main determinant of the level of activity is in national income terms?
[A] The level of taxation
[B] Realized investment
[C] Planned saving
[D] Factor mobility

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9. The first step towards electronic bond trading in India was the introduction of the RBIs Negotiated Dealing System. In which year NDS was launched?
[A] 2000
[B] 2002
[C] 2003
[D] 2004

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10. Consider the following:1. Dated Securities2. T-Bills3. Certificates of Deposit (CDs)4. Municipal Bonds
The Individuals in India can invest in which among the above?
[A] 1
[B] 1,2
[C] 1,2,3
[D] 1,2,3,4

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  • George

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