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

41. Which of the following indicates a micro approach from a national point of view?

[A] Per capita income in India
[B] Study of sales of TISCO
[C] Inflation in India
[D] Educated Unemployment in India

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42. Which of the following has elastic demand?

[A] Electricity
[B] Medicines
[C] Rice
[D] Match boxes

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43. Which cost is related to marginal cost?

[A] Variable Cost
[B] Implicit Cost
[C] Prime Cost
[D] Fixed Cost

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44. Who among the following is called the father of economics?

[A] J.M. Keynes
[B] Malthus
[C] Ricardo
[D] Adam Smith

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45. Autonomous investment was distinguished from induced investment by__

[A] Schumpeter
[B] Malthus
[C] Joan Robinson
[D] Adam Smith

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46. Which statement is wrong for a country with inflationary condition?

[A] Cost of living rises
[B] Profit rise faster than wages
[C] Value of money falls
[D] Country’s exports become more competitive

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47. Deflation is a situation in which?

[A] The value of money is falling
[B] The price of goods is increasing
[C] The value of money is increasing
[D] The price level is stagnant

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48. In which year the coal mines were nationalized?

[A] 1970
[B] 1971
[C] 1972
[D] 1976

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49. When the balance of payments of a country is in equilibrium?

[A] demand as well as supply of the domestic currency are the highest

[B] demand for the domestic currency is equal to its supply
[C] demand for the domestic currency is the highest

[D] demand for the domestic currency is the lowest

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50. In the balance of payments account, what are the unrealized receipts and payments also considered?

[A] bilateral transfers
[B] unilateral transfers
[C] capital account transfers
[D] invisible transfers

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