Indian Economy MCQs

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

81. 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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82. What of the following is correct for marginal cost?

[A] Increase in cost due to change in price
[B] Increase in cost due to high demand
[C] Increase in cost due to increase in extra unit of output
[D] None of the above

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83. Which type of Economy is Indian Economy?

[A] Mixed
[B] Market
[C] Capitalist
[D] Socialist

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84. Which of the following is considered as transfer payment?

[A] College fees
[B] Bank loan
[C] Bonus of employees
[D] Unemployed allowance by the government

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85. What is the formula for GDP Deflater?

[A] Nominal GDP + Real GDP
[B] Nominal GDP – (minus) Real GDP
[C] Real GDP/ Nominal GDP
[D] Nominal GDP/ Real GDP

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86. What is the principle of Gandhian economy based on trusteeship principle

[A] Soicialist
[B] Competetion
[C] Capitalist
[D] Trusteeship

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87. Which of the following statement is true?

[A] NDP = GDP – Depriciation
[B] NNP = NDP – Net factor income from abroad
[C] GNP = GDP + Depriciation
[D] None of the above

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88. What is subtracted from personal  income to get personal disposable income?

[A] Indirect taxes
[B] Direct taxes
[C] subsidies
[D] None of the above

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89. Who is the author of  ” The Theory of Interest as Determined by Impatience to Spend Income and Opportunity to Invest It”?

[A] Milton Friedman
[B] Alfred Marshall
[C] Irving Fisher
[D] J S Mill

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90. Who is the autor of the book “Utilitarianism”?

[A] Jermy bentham
[B] Immanuel Kant
[C] J S Mill
[D] David Ricardo

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