Indian Economy MCQs
Indian Economy Multiple Choice Questions (MCQs) for SSC, State and all One Day Examinations of India. Objective Questions on Indian Economy for competitive examinations. These questions are part of GKToday’s 35000+ MCQs Bank Course in GKToday Android App
1. Which among the following is world’s largest foreign exchange market ?
[A] New York
[B] London
[C] Tokyo
[D] Moscow
Show Answer
Correct Answer: B [London]
Notes:
London followed by New York, Tokyo, Zurich and Frankfurt.
2. Which among the following is the main feature of Democratic planning?
[A] Inducement
[B] Government
[C] Direction
[D] Flexibility
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Correct Answer: D [Flexibility]
Notes:
Democratic planning is the planning process generally adopted in mixed economy. Mixed economy possesses characteristics of both capitalist economy as well as socialist economy. Democratic planning involves participation of all the citizens of an economy directly or indirectly.
3. Who among the following Indian Economists played a crucial role in inception of MNREGA?
[A] Amartya Sen
[B] Jean Dreze
[C] Jagdish Natwarlal Bhagwati
[D] Dr. Vijay Kelkar
Show Answer
Correct Answer: B [Jean Dreze]
Notes:
Jean Dreze is an Economist of Indian Origin born in Belgium. He conceptualized and drafted the first version of MGNREGA. He was the member of National Advisory Council and has coauthored “An Uncertain Glory: India and its Contradiction” with noted economist Amartya Sen.
4. For which of the commodities the unit bpd is used in international trade?
[A] Meat & Livestock
[B] Precious Metals
[C] Industrial metals
[D] Crude oil
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Correct Answer: D [Crude oil]
Notes:
Its barrel per day , amount of crude oil (measured in barrels) produced or consumed by an entity in one day. One barrel 42 gallons
5. What is the meaning of the “Government Route” in Foreign Investments?
[A] Investments can be made only with prior permission of the Government or Government authorities
[B] Investments can be made only in partnership with the Government or Government Companies
[C] Investment can be made only in the Government Companies
[D] Investment can be made only via a Foreign Government Body in India
Show Answer
Correct Answer: A [Investments can be made only with prior permission of the Government or Government authorities]
6. Which among the following is known as Gresham’s Law?
[A] Good Money (if not limited in quantity) drives out bad money out of circulation
[B] Bad Money (if not limited in quantity) drives out Good money out of circulation
[C] Good Money (if limited in quantity) drives out bad money out of circulation
[D] Bad Money (if limited in quantity) drives out Good money out of circulation
Show Answer
Correct Answer: B [Bad Money (if not limited in quantity) drives out Good money out of circulation]
Notes:
Bad Money (if not limited in quantity) drives out Good money out of circulation – This statement was given by Sir Thomas Gresham, the Economic adviser of Queen Elizabeth. This law states that people always want to hoard Good Money and spend Bad Money when two forms of Money are in circulation at the same time.
7. Maximum share in India’s total external debt is of which among the following currency?
[A] US Dollar
[B] Indian Rupee
[C] Euro
[D] Japanese Yen
Show Answer
Correct Answer: A [US Dollar]
8. Which of the following Price Indices of India is considered for measuring ‘Headline Inflation’?
[A] GDP Deflator
[B] CPI-AL/RL
[C] CPI-IW
[D] WPI
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9. Index of Industrial production is released by_
[A] Central Statistical Office
[B] Ministry of Commerce and Industry
[C] Ministry of Economic affairs
[D] Competition Commission of India
Show Answer
Correct Answer: A [ Central Statistical Office ]
Notes:
IIP data is released every month by Central Statistical Organization. The individual items considered under IIP are categorised into three sectors: mining, manufacturing and electricity sector.
10. Which Public Sector Giant issued world’s first Indian green masala bond?
[A] ONGC
[B] NTPC
[C] IOCL
[D] CIL
Show Answer
Correct Answer: B [NTPC]
Notes:
State-owned energy major National Thermal Power Corporation (NTPC) raised almost Rs 2,000 crores with the launch of its ‘Green Masala Bond’ on the London Stock Exchange (LSE). NTPC’s bond issue has been described as the first-ever Indian quasi-sovereign to issue a Masala Bond.
