Practice test

Indian economy - Test Set 1

Review 20 exam-focused questions with detailed explanations, then start the interactive test when you are ready.

20 questions

Questions and explanations

  1. Question 1

    SSC CHSL 2023
    Macroeconomics deals with which of the following studies?

    i. Reasons behind the unemployment of resources.
    ii. Determination of total output.
    1. Only i
    2. Only ii
    3. Neither i nor ii
    4. Both i and ii
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  2. Question 2

    CDS II 2022
    Among the following countries, where did the idea of ‘Social Market Economy’ emerge in 1950s?
    1. Germany
    2. France
    3. United States of America
    4. United Kingdom
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  3. Question 3

    SSC CGL 2023
    If the interest rate goes up, the demand for money will _________.
    1. first rise and then falls
    2. rise
    3. remain the same
    4. fall
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  4. Question 4

    WBCS Mains 2021
    National expenditure includes?
    1. Consumption expenditure
    2. Investment expenditure
    3. Government expenditure
    4. All of the above
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  5. Question 5

    SSC Stenographer 2023
    Which of the following is the correct formula for calculating Net Indirect Taxes?
    1. Direct Taxes + Subsidies
    2. Indirect Taxes - Subsidies
    3. Indirect Taxes + Subsidies
    4. Direct Taxes - Subsidies
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  6. Question 6

    SSC CGL 2024
    Which of the following sectors in India faces seasonal unemployment?
    1. Manufacturing
    2. Information Technology
    3. Medical
    4. Agriculture
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  7. Question 7

    WBCS Pre 2021
    Inflation is
    1. one time price level rise
    2. increasing profits in production
    3. increase in deficit financing
    4. continuous increase in price level
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  8. Question 8

    Haryana PSC Pre 2017
    What is the effect of deficit financing on economy?
    1. Reduction in taxes
    2. Increase in wages
    3. Increase in money supply
    4. Decrease in money supply
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  9. Question 9

    SSC MTS 2024
    Which of the following is NOT a part of the capital receipts?
    1. Disinvestment
    2. Recovery of loan
    3. Tax revenue
    4. Borrowing
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  10. Question 10

    SSC CGL 2023
    Which of the following is also known as the ‘Lender of the last resort’?
    1. SEBI
    2. RRBs
    3. RBI
    4. SBI
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  11. Question 11

    WBCS Pre 2022
    SEBI stands for the
    1. State Earnings Board of India
    2. Securities and Exchange Bank of India
    3. Securities and Exchange Board of India
    4. State Exchange Bank of India
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  12. Question 12

    SSC MTS 2021
    In which year was the State Bank of India created following the passage of the Imperial Bank of India into state ownership?
    1. 1947
    2. 1965
    3. 1955
    4. 1950
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  13. Question 13

    WBCS Mains 2020
    Following concept of money supply is called ‘Narrow Money’:
    1. M1
    2. M2
    3. M3
    4. M4
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  14. Question 14

    SSC MTS 2023
    Who chairs the Monetary Policy Committee in India?
    1. Union Finance Minister
    2. Deputy Governor, Reserve Bank of India
    3. Comptroller and Auditor General of India
    4. Governor, Reserve Bank of India
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  15. Question 15

    WBCS Pre 2020
    The difference between GDP at market prices and GDP at factory cost is-
    1. Direct Taxes
    2. Transfer Payments
    3. Indirect Taxes
    4. Subsidies
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  16. Question 16

    CDS-II 2024
    Which among the following was the focus of the Twelfth Five-Year Plan?
    1. Sustainable and Inclusive Growth
    2. Social Justice and Equality
    3. Food, Work and Productivity
    4. Attainment of Self-reliance
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  17. Question 17

    SSC GD 2024
    Which of the following Five-Year Plan of India was a complete failure?
    1. Seventh Five-Year Plan
    2. Sixth Five-Year Plan
    3. First Five-Year Plan
    4. Third Five-Year Plan
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  18. Question 18

    WBCS Pre 2010
    The Community Development Programme was launched in the year
    1. 1950 A.D.
    2. 1951 A.D.
    3. 1952 A.D.
    4. 1953 A.D.
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  19. Question 19

    SSC MTS 2024
    In which year was the Multi-dimensional Poverty Index launched in India?
    1. 2020
    2. 2021
    3. 2022
    4. 2023
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  20. Question 20

    WBCS Mains 2021
    Which among the following Industrial Policy Resolution/Statement was based upon the Mahalanobis Model of growth?
    1. Industrial Policy Resolution- 1956.
    2. Industry Policy Statement- 1973.
    3. Industrial Policy Statement- 1977.
    4. None of the above.
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