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.
31. What is the minimum amount that can be invested in a commercial paper?
[A] Rs 1 lakh
[B] Rs 5 lakhs
[C] Rs 10 lakhs
[D] Rs 75000
Show Answer
Correct Answer: B [Rs 5 lakhs]
Notes:
The commercial papers are unsecured promissory notes issued by top rated corporates, primary dealers and AIFI for a period between 7 days to 1 year. The minimum amount is 5 lakh.
32. Where is the secretariat of IOSCO located?
[A] New York
[B] Paris
[C] Madrid
[D] Hague
Show Answer
Correct Answer: C [Madrid]
Notes:
IOSCO – International organization of Securities commissions is an association of organizations that regulate the world’s securities and futures market. The permanent secretariat is located in Madrid.
33. How much amount of coal was produced in India, at the start of first five year plan?
[A] 33 mts
[B] 35 mts
[C] 30 mts
[D] 28 mts
Show Answer
Correct Answer: A [33 mts]
Notes:
At the start of first five year plans, the production of coal went upto 33 mts.
34. Pradhan Mantri Gram Sadak Yojana is implemented by which ministry?
[A] Ministry of Road Transport & Highways
[B] Ministry of Rural Development
[C] Ministry of Minority Affairs
[D] Ministry of Panchayat Raj
Show Answer
Correct Answer: B [Ministry of Rural Development]
Notes:
Pradhan Mantri Gram Sadak Yojana (PMGSY) was launched on 25 December 2000, by the then Prime Minister late Shri. Atal Bihari Vajpayee. It is a centrally sponsored scheme implemented by Ministry of Rural Development.
35. Which of the following is / are correct statements regarding agriculture in India?
- Agriculture is the biggest private sector in India
- Agriculture income bears no income tax burden
Select the correct option from the codes given below:
[A] Only 1
[B] Only 2
[C] Both 1 & 2
[D] Neither 1 nor 2
Show Answer
Correct Answer: C [Both 1 & 2 ]
Notes:
Agriculture is not only the biggest sector of the economy, but also the biggest private sector too. It is the only profession which still carries no burden of individual income tax. At the same time, agriculture is also the biggest unorganised sector of the economy accounting for more than
90 per cent share in the total unorganised labour-force.
36. Which of the following committee is related to PPP?
[A] Kelkar Committee
[B] Malegam Committee
[C] Bimal Jalan Committee
[D] N.K.Singh Committee
Show Answer
Correct Answer: A [Kelkar Committee]
Notes:
Kelkar Committee was appointed to reform the PPP sector in infrastructure. It gave various recommendations as well.
37. What is the share of the National highway among the total road network?
[A] 3.4%
[B] 1.9%
[C] 2.6%
[D] 4.5%
Show Answer
Correct Answer: B [1.9%]
Notes:
National highways account for 1.9% of the total road network in India. India has the second-largest road network in the world.
38. Which country has the largest proven natural gas reserves in the world?
[A] China
[B] USA
[C] Iran
[D] Russia
Show Answer
Correct Answer: D [Russia]
Notes:
Russia has the largest proven natural gas reserves. The top 5 countries are Russia, Iran, Qatar, USA, Saudi Arabia.
39. Market price pertains to which of the following periods?
[A] very short period
[B] short period
[C] long period
[D] very long period
Show Answer
Correct Answer: A [very short period]
Notes:
Marshall was the first economist to analyze the importance of time in pricing. Market period is a very short period in which supply is being determined, price is determined by demand. The time period is a few days or weeks in which the supply of a product can be increased from a given stock to match the demand. This is possible for durable goods.
40. The increase in total cost by a firm by producing an additional unit of output is called __
[A] Variable cost
[B] Average cost
[C] Marginal cost
[D] Opportunity cost
Show Answer
Correct Answer: C [Marginal cost]
Notes:
The increase in total cost by a firm by producing one additional unit of output is called marginal cost. Average cost is the total cost of producing a given output divided by that output.
