Indian Economy MCQs

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

11. Which among the following denotes the main function of Bank of International Settlement?

[A] A Bank for financial arbitration
[B] A bank for central banks
[C] A bank for Cheap loans
[D] A bank for European Investment

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12. In which of the following organizations set up , the Keynes plan and White plan were incorporated?

[A] International Development Association
[B] International Monetary Fund
[C] International Finance Corporation
[D] World Bank

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13. In context with the credit market in India, which among the following is called Slack Season?

[A] November to March
[B] April to October
[C] July to February
[D] March to September

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14. Approximately what fraction of the world’s oil exports is pumped by the 12-member Organization of the Petroleum Exporting Countries OPEC?

[A] 25%
[B] 40%
[C] 50%
[D] 75%

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15. If a commodity has more number of substitutes, the demand for this commodity will be _______?

[A] more elastic
[B] less elastic
[C] inelastic
[D] perfectly elastic

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16. In context with the Real Time Gross Settlement which is maintained by the RBI in India, what is the number of characters in the alphanumeric codes provided to each bank connected with Core Banking System?

[A] 8
[B] 9
[C] 10
[D] 11

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17. In context of Budget, which among the following is not a Non-Plan Expenditure?

[A] Revenue and Capital Expenditure on interest payments
[B] Defense Expenditure
[C] Grants to State governments & Union territories
[D] Central Assistance to States and Union Territories

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18. As we all know that economic liberalization began in true sense in July 1991 in India. Which among the following was the first step of the government while taking the country towards Economic Liberalization?

[A] Substantial changes in industrial license policy were made
[B] The Rupee was made convertible
[C] Procedural formalities for Foreign direct Investment were removed
[D] The government significantly reduced the taxes

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19. In a progressive tax , the following statements holds true:

[A] Yield from Income tax increases as the national income increases.
[B] Yield from income tax decreases as the national income increases
[C] Yield from income tax does not alter as the national income increases
[D] Yield from income tax may increase or decrease as the national income increases

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20. In context with banking in India, March 16, 1949 is a date which marks:

[A] Establishment of RBI
[B] Nationalization of RBI
[C] Banking Regulation act coming in Force
[D] Nationalization of Banks

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