You are here
Home > QB Subjectwise > 051 Economy Previous Year Questions

051 Economy Previous Year Questions

Economy Previous Year Questions

Q1. Which of the following iron & steel plants is closer to coal deposits than iron ore deposits?
(a) Bhilai & Bokaro
(b) Jamshedpur & Bhadrawati
(c) Burnpur & Hirapur
(d) Durgapur & Rourkela
Ans: (a)

Q2. Convertibility of rupee implies :
(a) being able to convert rupee notes into gold
(b) allowing the value of rupee to be fixed by market forces
(c) freely permitting the conversion of rupee to other currencies and vice versa
(d) developing an international market for currencies in India
Ans: (c)

Q3. Consider the following statements.
1. The National Housing Bank, the apex institution of housing finance in India, was set up as a whollyowned subsidiary of the Reserve Bank of India.
2. The Small Industries Development Bank of India was established as a wholly-owned subsidiary of the Industrial Development Bank of India.
Which of the statement given above is/are correct?
(a) 1 only (b) 2 only
(c) Both 1 and 2 (d) Neither 1 nor 2
Ans: (c)

Q4. Which one of the following modes of privatization is the most comprehensive and complete?
(a) introduction of private capital in public sector
(b) contracting out management of public enterprises to the private sector
(c) transferring ownership and management to the workers
(d) transferring ownership and management to the private sector
Ans: (d)

Q5. Consider the following statements about Quick Response code or QR code:
1. It is a type of matrix barcode which was first designed for the automotive industry to track vehicles during the manufacturing process.
2. The code consists of black modules arranged in a line pattern on a white background.
3. The QR code is a popular type of two-dimensional barcodes.
Which of the statements given above is/are correct?
(a) 1 and 2 only (b) 2 only
(c) 2 and 3 only (d) 1 and 3 only
Ans: (d)

Q6. Consider the following statements regarding the budgeting process:
1. Budgetary deficit is defined as the excess of all expenditures over total receipts reduced by borrowings.
2. The government prefers to borrow from the public rather than from the RBI to finance its expenditure.
Which of the given statements at above is/are correct?
(a) 1 only (b) 2 only
(c) Both 1 and 2 (d) Neither 1 nor 2
Ans: (b)

Q7. India has the maximum amount of foreign trade with
(a) USA
(b) Great Britain
(c) Japan
(d) Germany
Ans: (a)

Q8. The most significant economic consequence of the ‘greying’ of the Indian population in the decades to come, will be:
(a) a fall in the growth of population
(b) a reverse flow of wealth from children to parents
(c) a decline in the demand for maternity facilities
(d) the need for redesigning apartment buildings
Ans: (b)

Q9. Which of the following are among the taxes levied exclusively by the Central Government and are mentioned in the Union List of the Seventh Schedule of the Constitution of India?
1. Corporation Tax
2. Taxes on advertisement in the newspapers
3. Taxes on Agricultural income
4. Taxes on consumption/sale of electricity
(a) Only 2 (b) Only 4
(c) 1 and 2 (d) 3 and 4
Ans: (c)

Q10. Consider the following statements.
Most internationals agencies which fund development programmes in Indian on inter-government bilateral agreements, mainly provide.
1. Technical assistance
2. Soft loans which are required to be paid back with interest
3. Grants, not required to be paid back
4. Food assistance to alleviate poverty
(a) 2 and 4 are correct (b) 1, 2 and 3 are correct
(c) 1, 2 and 4 are correct (d) 3 and 4 are correct
Ans: (b)

Q11. Consider the following statements:
1. Brown revolution is dedicated to food processing/ Fertilizers.
2. Golden revolution is dedicated to Horticulture.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: (c)

Q12. In which of the following industries no private participation is allowed in India?
1. Shipping
2. Railways
3. Waterways
4. Highways
Which the correct answer using the codes given below:
(a) 2 only (b) 3 only
(c) 2 and 3only (d) 1, 2, 3 and 4
Ans: (a)

Q13. Which one of the following modes of privatisation is the most comprehensive and complete?
(a) Introduction of private capital in public sector
(b) Contracting out management of public enterprises to the private sector
(c) Transferring ownership and management to the workers
(d) Transferring ownership and management to the private sector
Ans: (d)

Q14. Which of the following are the main causes of slow rate of growth of per capita income in India?
1. High capital output ratio
2. High rate of growth of population
3. High rate of capital formation
4. High level of fiscal, deficits codes:
(a) 1, 2, 3 and 4 (b) 2, 3 and 4
(c) 1, 3 and 4 (d) 1 and 2
Ans: (d)

Q15. Consider the following statement:
1. Ad hoc treasury bills are sold to the banks and public and are freely marketable.
2. Regular treasury bills are not sold to the banks and the general public, and are not marketable.
Choose the correct code.
(a) 1 only (b) 2 only
(c) 1 and 2 (d) None of the Above
Ans: (d)

Q16. Match the following export products of India with the Percentage they constitute:
Products Percentage
I. Petroleum A. 4%
II. Gems & Jewellery B. 7.8%
III. Transport & C. 20.4% Equipments
IV. Machinery D. 16.3%
(a) I – c, II – d, III – b, IV – a
(b) I – a, II – c, III – b, IV – d
(c) I – b, II – a, III – d, IV – c
(d) I – d, II – c, III – a, IV – b
Ans: (a)

Q17. ‘Mercosur’ is an economic and political bloc comprising of which of the following countries?
1. Argentina 2. Colombia
3. Brazil 4. Paraguay
5. Uruguay
Select the correct answer using the code given below.
(a) 1, 2, 3 and 5 only (b) 1, 2 and 4 only
(c) 1, 3, 4 and 5 only (d) 1, 2, 3, 4 and 5
Ans: (c)

Q18. The refineries of Mathura, Digboi and Panipat have been set up by:
(a) Bharat Petroleum Corporation Limited (BPCL)
(b) Hindustan Petroleum Corporation Limited (HPCL)
(c) Reliance Industries Limited with the help of British Petroleum
(BP)
(d) Indian Oil Corporation Limited (IOC)
Ans: (d)

Q19. Which of the following constitute the World Bank?
1. International Bank for Reconstruction and Development
2. International Finance Corporation
3. International Development Association
4. International Monetary Fund
Choose the correct answer from the codes given below:
(a) 1, 2 and 3
(b) 1 and 2
(c) 3 and 4
(d) 1, 2, 3 and 4
Ans: (a)

Q20. Consider the following statements about personal Income:
1. Personal income is that income which is actually obtained by nationals.
2. Personal Income = National income – undistributed profits of corporation – payments for social security provisions – corporate tax + government transfer payments + Business transfer payments + Net interest paid by government.
Select the correct answer using the codes given below:
(a) 1 only (b) 2 only
(c) 1 and 2 (d) Neither 1 nor 2
Ans: (c)

Q21. In which state Chinese e-retailer giant Alibaba will set up its first office in India?
(a) Kerala (b) Delhi
(c) Gurugram (d) Mumbai
Ans: (d)

Q22. Imports of India are classified into:
I. Petroleum Products
II. Pearls and Precious Stones
III. Iron and Steel
IV. Fertilizers
(a) I & II (b) Only II
(c) Only IV (d) All the above
Ans: (d)

Q23. Which of the following are quantitative credit control tools/ measures used by the Reserve Bank of India?
1. Credit Rationing
2. Open Market Operations
3. Bank Rate
4. Cash Reserve Ratio
Which the correct answer using the codes given below:
(a) 1, 2 and 3 only
(b) 2, 3 and 4 only
(c) 1, 3 and 4 only
(d) 1, 2, 3 and 4
Ans: (b)

Q24. Consider the following strategies/programmes:
1. MGNREGA
2. Quantitative monetary policy
3. Jan Dhan Yojna
Which of the above strategies/programmes is/are part of financial inclusion?
(a) 1 only (b) 1 and 3 only
(c) 2 and 3 only (d) 1, 2 and 3
Ans: (b)

Q25. Match List I with List II and select the correct answer by using the codes given below the lists:
List I List II
(Commodities exported (Countries of from India) destination)
A. Iron-ore : 1. Russia
B. Leather goods : 2. USA
C. Tea : 3. Japan
D. Cotton fabrics : 4. UK : 5. Canada
Codes:
A B C D
(a) 5 1 2 3
(b) 3 1 4 2
(c) 1 5 4 3
(d) 3 4 1 2
Ans: (b)

Top
error: Content is protected !!