Indian Economy MCQs

Indian Economy Multiple Choice Questions (MCQs) for State and UPSC Civil Services Examinations. Objective Questions on Indian Economy for competitive examinations.

131. 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

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132. Which of the following have the highest share in the distribution of credit to agriculture and allied sectors?

[A] Co-operative banks
[B] Regional rural banks
[C] Commercial banks
[D] Indigenous money lenders

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133. Which among the following was not Stipulated in the Fiscal Responsibility And Budget Management Act 2003?

[A] Elimination of revenue deficit
[B] Elimination of primay deficit
[C] Non-borrowing by the central government from RBI except in certain situations
[D] Fixing government guarantees in any financial year as a percentage of GDP

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134. The Laffer curve is the graphical representation of :

[A] The relationship between tax rates and absolute revenue these rates generate for the government.
[B] The inverse relationship between the rate of unemployment and the rate of inflation in an economy.
[C] The inequality in income distribution
[D] The relationship between environmental quality and economic development.

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135. Which of the following best defines a floating-rate bond?

[A] A bond with a fixed interest rate and has better yield than varying interest rate bond
[B] A bond with a fixed interest rate and has lower yield than varying interest rate bond
[C] A bond with a varying interest rate and has better yield than fixed interest rate bond
[D] A bond with a varying interest rate and has lower yield than fixed interest rate bond

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136. Which among the following is related to the demand curve?

[A] Relation between quantity demanded and price of a commodity
[B] Relation between supply and demand of a commodity
[C] Relation between income of customer and demand of commodity
[D] None of the above

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137. What defines a market place in an economy?

[A] Place where profits are made
[B] Place where goods are made
[C] Place where people meet
[D] Place where buyers meet sellers

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138. What year is taken a base year for calculating GDP?

[A] 2011-12
[B] 2012-13
[C] 2014-15
[D] 2004-05

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139. Which of the following are part of Gross National Product(GNP)?

[A] Imports
[B] Exports
[C] Money earned by resident abroad
[D] All of the above

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140. Who presents the economic survey every year?

[A] Ministry of Economic affairs
[B] Department of Economic affairs
[C] Department of Finance
[D] Department of Revenue

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