General Economy Questions and Answers for competitive exams

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General Economy Questions and Answers for competitive exams UPSC SSC , IAS Prelims, SSC CGL, CHSL, General Awareness Questions Mcq

general economy questions and answers

16.
Indian economy is a

a
Capitalistic economy
b
Mixed economy
c
Communistic economy
d
Centralised economy

17.
The excess of price a person is to pay rather than forego the consumption of the commodity is called

a
Producers' surplus
b
Price
c
Profit
d
Consumer's surplus

18.
Which one of the following disburses long term loans to privateindustry in India ?

a
Primary Credit Society
b
Land Development Banks
c
Food Corporation of India
d
Life Insurance Corporation of India

19.
The new Agricultural Strategy in India was introduced in

a
1976
b
1966
c
1956
d
1986

20.
Who advocated the adoption of 'PURA' mbdel to eradicate rural poverty ?

a
Dr. A.P.J. Abdul Kalam
b
Maulana Abul Kalam Azad
c
A.M.Khusro
d
M.S. Swaminathan

21.
When there is a change in demand leading to a shift of the Demand Curve to the right, at the same price as before, the quantity demanded will

a
remain the same
b
decrease
c
contract
d
increase

22.
As per newspapers report what percent of Government stake will be disinvested in Rashtriya Ispat Nigam Ltd. (RINL) ?

a
12%
b
5%
c
50%
d
10%

23.
Chairman of the Eleventh Finance Commission was

a
Deepak Parekh
b
Vijay Kelkar
c
Manmohan Singh
d
A.M. Khusro

24.
Which of the following tax systems will help to reduce economic inequalities in India ?

a
Flat rate tax
b
Progressive Tax
c
Regressive Tax
d
None of these

25.
The fringe benefit tax was introduced in the budget of

a
2006-07
b
2004-05
c
2003-04
d
2005-06

26.
'NABARD' is a/an

a
Financial Institution
b
Central Government Department
c
Insurance Corporation
d
Bank

27.
The Report of Vijay Kelkar Committee relates to

a
Trade Reforms
b
Tax Reforms
c
Disinvestment in Public Sector Enterprises
d
Centre-State Financial Relations

28.
The Employment Guarntee Scheme, which is now an important component of the NCMP, was first introduced in which State ?

a
Maharashtra
b
Andhra Pradesh
c
Kerala
d
West Bangal

29.
Regional Rural Banks are sponsored by

a
Reserve Bank of India
b
State Bank of India
c
Nationalised Commercial Bank
d
Government of India

30.
Which of the following is not the source of the revenue of central Government?

a
Corporate Tax
b
Excise Duty
c
Income Tax
d
Agricultural Income Tax

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