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Indian Economy MCQ Questions and answers for practice | GK

Learn and practice General Knowledge questions and answers on Indian Economy with very easy and understandable explanations. GK questions are very helpful different type of competitive exams. Page-5 section-2

Each section contains 100 MCQs on Indian Economy .
41
Which of the following is not an undertaking under the administrative control of Ministry of Railways?
Discuss
Answer & Solution
Answer: Option C
Solution:
Indian Railways Construction Company Limited is not an undertaking under the administrative control of Ministry of Railways.
42
If the RBI adopted an expansionist open market operations policy, this means that it will
Discuss
Answer & Solution
Answer: Option C
Solution:
If the RBI adopted an expansionist open market operations policy, this means that it will offer commercial banks more credit in the open market.
43
Redistribution polices geared to reduce economic inequalities include
Discuss
Answer & Solution
Answer: Option D
Solution:
Redistribution polices geared to reduce economic inequalities include progressive tax policies, land reforms and rural development policies.
44
Short-term finance is usually for a period ranging up to
Discuss
Answer & Solution
Answer: Option C
Solution:
Short-term finance is usually for a period ranging up to 12 months.
45
In India, which one among the following formulates the fiscal policy?
Discuss
Answer & Solution
Answer: Option B
Solution:
In India, Ministry of Finance formulates the fiscal policy.
46
The budget deficit means
Discuss
Answer & Solution
Answer: Option C
Solution:
The budget deficit means difference between all receipts and all the expenditure.
47
If utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other material purchased is worth Rs 100 and depreciation of machinery is zero, then what is the value added in process?
Discuss
Answer & Solution
Answer: Option D
Solution:
If utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other material purchased is worth Rs 100 and depreciation of machinery is zero, then the value added in process is Rs 300.
48
Paper currency first started in India in
Discuss
Answer & Solution
Answer: Option A
Solution:
The Paper Currency Act of 1861 gave the Government the monopoly of note issued throughout the vast expanse of British India.
49
The ARDC is now a branch of the
Discuss
Answer & Solution
Answer: Option B
Solution:
The ARDC is now a branch of the NABARD.
50
Devaluation of currency leads to
Discuss
Answer & Solution
Answer: Option B
Solution:
Devaluation is the decision to reduce the value of a currency in a fixed exchange rate. A devaluation means that the value of the currency falls. Domestic residents will find imports and foreign travel more expensive. However domestic exports will benefit from their exports becoming cheaper.