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700+ Economics Questions In English For RRB , SSC and Other Competitive Exams

700+ Economics Questions In English For RRB , SSC and Other Competitive Exams

During which Plan did prices show a decline?First

Which bank is the Banker of the Banks?RBI

When was the Reserve Bank of India taken over by the Government?1948

Which is the tax that takes away a higher proportion of one’s income as the income rises?Progressive tax

What is the mean of Invisible Export?Export Services

During which Plan did prices show a decline?First

When was the Rolling plan designed?1978-83

Why does the Issue Department of the RBI maintain a against printing of note?Minimum Reserve System

Who is the chairman of 13th Finance Commission?Vijay Kelkar

What is an essential attribute of inflation?Increase in prices

What is the best means of saving during inflation?Money

Which is the oldest ‘stock exchange of India?Bombay Stock Exchange

The National Housing Bank was set up in India as a wholly-owned subsidiary of which bank?Reserve Bank of India

Which situation makes a firm most efficient?Lowest average costs

From the view of International economy, What does third World imply?The developing countries

Which decade is celebrated as United Nations Decade for Women?1976-1985

If the cash-reserve ratio is lowered by the Central bank, what will be its effect on credit creation?Increase

What is the main source of revenue to meet different expenditures?Internal borrowings

In which policy India opted for ‘Mixed Economy’?Industrial Policy of 1948

What is the task of the Planning Commission?Preparation of the plan

Which Mahatma Gandhi series of currency notes issued by the RBI has “ecology” depicted on it?Rs. 100

Which is the regulatory authority for giving clearance for External Commercial borrowing?RBI

From when was the Zero Base Budgeting in India first experimented?April, 1987

National Agricultural Cooperative Marketing Federation is known what?NACMF

With which Economic growth is usually coupled?Inflation

In which year was Minimum inflation in post economic reform?1999-2000

What does Inflation imply?Rise in general price index

Which is the oldest ‘stock exchange of India?Bombay Stock Exchange

Stock Exchanges play a role in an economy how may itbe termed?Useful but need strict regulation

CENVAT is associated with which rate?Rate of indirect tax

Taxation and the government’s expenditure policy are dealt under under which policy?Fiscal policy

For internal financing of Five Year Plans, the government depends on which source?Taxation only

What is the Planning Commission?An Advisory body’

Who is considered the guardian of the Public Purse?Comptroller andAuditor General

On which date was the State of Bombay was bifurcated into Maharashtra and Gujarat?May 1, in the year 1960

Which rural bank has been named after a river?Varada Grameen Bank

‘Asian Drama’, by Gunnar Karl Myrdal, is a book on which subjects?Economics

What is the sum total of incomes received for the services of labour, land or capital in a country?National income

Unemployment occurs when workers move from one job to another job?F r i c t i o n a l unemployment

Which type of unemployment mostly found in India?Disguised

Which is called a ‘banker’s cheque’?Demand draft

The last three digits of a PIN code represent?Sorting district

Why is the Gross National Income always more than Net National Income?Direct taxes

By which ministry is Economic survey published?Ministry of Finance

By which name was Chanakya known in his childhood?Vishnugupta

Howmany of Banks were nationalised since 1969?20

Which is not a direct tax?Tax on entertainment

Which can be used for checking inflation temporarily?Decrease in money supply

Who are not protected against inflation?Agricultural farmers

Which is the ‘basis for determining the national income?Production of goods and services

What is the meant of ‘Take off stage’ in an economy?Steady growth begins

Which is at the apex of Industrial Finance in India?Industrial Development Bank of India

The Varansi Kanyakumari National Highway is called which national highway?NH 7

What is the most appropriate measure of a country’s economic growth?Per capita real income

Which planet takes the same number of days for rotation and revolution?Venus

CENVAT is associated with which rate?Rate of indirect tax

Of the various ways of financing government’s investment expenditure, what is the least inflationary?Taxation

For which landform is Colorado in U.S.A. famous?Grand Canyon

By which band is Monetary policy regulated?Central Bank

If the price of an inferior good falls, what about its demand?Remains constant

In India, which banking in the Public Sector is most dominant?Commercial banking

Which is the largest Public Sector Bank in India?State Bank of India

Who is responsible for the collection and publication of monetary and financial information?Reserve Bank of India

Taxation and the government’s expenditure policy are dealt under under which policy?Fiscal policy

What is the main source of revenue to meet different expenditures?Internal borrowings

Which Mahatma Gandhi series of currency notes issued by the RBI has “ecology” depicted on it?Rs. 100

When was decimal coinage introduced in India?1957

Among Indian Economists who had done pioneering work on National Income?V. K. R. V. Rao

Of which purpose was Nationalisation of banks done?Consolidating the economy

Word Bull and Big are associated with which branch of commercial activity?Share Market

Chanda Kochhar leads to which of the organisation?ICICI Bank

In which year was Tax collection of Central govt. lowest as compare to G.D.P.?1999-2000

In India, in which year was the service tax first introduced?1994

What is the document published by the government to apprise the public on any issue?White Paper

Of which allocation does Gadgil Formula refer to?Tax proceeds between the States

For international payments, to which currency is the Indian currency linked?American Dollar

Which tax is not levied by the Union Government?Profession Tax

What is the principal source of revenue to the State Government in India?Sales Tax

By whom was the first attempt to initiate economic planning in India made?By M. Visvesvaraya

What was the decentralisation system recommended?Balwant Rai Mehta

Bouncing of cheques has become an offence. What is the punishment for the same?6 months imprisonment

In which year, some more commercial banks in addition to the first lot of 141 were nationalised in India?1980

For internal financing of Five Year Plans, the government depends on which source?Taxation only

What is the mean of ‘Take off stage’ in an economy?Steady growth begins

Which is at the apex of Industrial Finance in India?Industrial Development Bank of India

Xerophytes grows in–Dry places

Wheat is a tropical monsoon crop–Tropical monsoon crop

In India, the bank NABARD does not provide refinance to which bank?Export-Import Banks

Which forms the largest share of deficit in Govt. of India budget?Fiscal deficit

Which scheme was intended to tap the black in money?India Development Bonds

Who wrote the book ‘Planned Economy for India’?M. Visvesvaraya

A crossed cheque is one, which can be encashed only at which bank?State Bank of India.

What do Quantitative credit controls not include?RBI directives

Which is the largest (in terms of turnover) Public Sector organisation in India?Indian Oil Corporation

In India, in which banking is the Public Sector is most dominant?Commercial banking

Which is the oldest Development Financial Institution of India?IFCI

When was EXIM Bank set-up?1982

Which provides the largest part of the demand for loanable funds in India?Corporate businesses

Who are Debenture holders of a company?Its creditors

Through which methods is the national income of India estimated mainly?Production and income methods

Which is the ‘Slack Season’ in the Indian Economy?Jan.-June

Stock Exchanges play a role in an economy how may itbe termed?Useful but need strict regulation

Which is the official language of Bank of Central African States?French

In which year were Private Sector Mutual Funds in India permitted?1993

Which industry earns the second highest net foreign exchange from the trade?Engineering goods industry

As per latest data in urban areas women employment is highest in which industry areas?Retail Trade

From which sector does the highest sector wise contribution to gross domestic saving comes?Household sector

Which formulates fiscal policy?Finance Ministry

In which plan was the growth rate of agricultural production negative?Third Plan

In which of the Five Year Plans, preference was given to the weaker sections of the society?Fifth

How many member states are in ‘Common Market’ for Eastern and Southern Africa?20

By which bill does the government make arrangement for the collection of revenues for a year?Finance Bill

To which Bill the President must accord his sanction without sending it back for fresh consideration?Finance Bills

Which is the ‘basis for determining the national income?Production of goods and services

What is One of the main factors that led to rapid expansion of Indian exports?Liberalisation of the economy

How is the difference between visible exports and visible imports defined?Balance of trade

Which case does stagflation imply?Recession plus inflation

Which formulates fiscal policy?Finance Ministry

A crossed cheque is one, which can be encashed only at which bank?State Bank of India

What do Quantitative credit controls not include?RBI directives

Among the remedies of inflation, what can we include?Lowering bank rate

If saving exceeds investment, how will the national income?Remain constant

By which committee were Mandai Panchayats recommended?Ashok Mehta Committee

Which bank prints currency notes of the denomination of Rs. 100?The Bank Note Press, Dewas

The year 1995 is the golden Jubilee year of which international organisations?UNO

What is the highest denomination of currency notes in circulation as legal tender in India at present?Rs. 1000

Among Indian Economists who had done pioneering work on National Income?V. K. R. V. Rao

Who was the chairman of National Income Committee?P. C. Mahalanobis

When was the Reserve Bank of India taken over by the Government?1948

Of which purpose was Nationalisation of banks done?Consolidating the economy

In India, in which was the service tax first introduced?1994

Under which do all taxes come?Revenue receipts

In which does the subject of Co-operative Societies fall?Concurrent List

How many members are there in the International Finance Corporation?184

Where is the headquarters of World Health Organization?Geneva, Switzerland

By whom was concept of Five Year Plans in India introduced?Jawaharlal Nehru

If the cash-reserve ratio is lowered by the Central bank, what will be its effect on credit creation?Increase

By whom was the most important theory of general biology proposed?Darwin and Wallace

Which Public Sector bank’ emblem figures a dog and the words ‘faithful, friendly’ in it?Syndicate Bank

What does Net factor income from abroad added to GDP give?GNP

Trade Union comes under which List?Concurrent list

What is the mean of Cheap Money?Low Rate of Interest

According to the law of demand, what happens when price increases?Demand decreases

Among the SAARC country, which is the most densely populated country?Bangladesh

For howmany years is rolling plan?One year

Through which methods is the national income of India estimated mainly?Production and income methods

Rotation of the earth causes deflection of wind by which force?Coriolis force

Which are referred to as the developed economies?Countries having large per capita income

Who long do the World Bank and IMF give respectively?Long term and short term credits

Which country is the largest debtor of UNO?U.S.

In India, which first bank of limited liability managed by Indians and founded in 1881?Oudh Commercial Bank

Which rural bank has been named after a river?Varada Grameen Bank

How many country are represented in International Monetary Fund (IMF)?163

Pneumoconiosis affects the workers who work mainly in which industry?Coal mining industry

Who proposed the Preamble before the Drafting Committee of the Constitution?Jawaharlal Nehru

Which type of unemployment mostly found in India?Disguised

According to which system are the members of the Rajya Sabha elected?Single Transferable Vote System

From which sector does the highest sector wise contribution to gross domestic saving comes?Household sector

Why has the per capita income been low in India?Because of population growth

Where is the headquarters of UNESCO?Paris

What is the ideal average NPK ratio aggregated for the country as a whole?0.168067

Amnesty International is an organisation associated with which field?Protection of human rights

Participatory Notes (PNs) are associated with which investors?Foreign Institutional Investors

In which plan was the objective of self-reliance and zero net foreign aid declared?Fourth 5-Yr Plan

Which book was written by Gandhiji?My Experiments with Truth

Upon which development the Second Five Year Plan laid mote stress?Industrialisation

On which bast is the India’s wage policy?Cost of living

Late Girilal Jain was a noted figure in which field?Journalism

Where is the headquarters of East African Development Bank?Uganda

Which industry produces the most non-biodegradable wastes?Thermal power plants

Who is regarded as the ‘Mother of the Indian Revolution’?Madam Bhikaiji Cama

In recent years, how have the capital outlays for the defence service?Increasing steadily

When was ‘Common Market for Eastern and Southern African (COMESA) formed?1994

What is the interrelated food chains in an ecological community?Food Web

Where is the headquarters of Pan American Health Organisation?Mexico

Which is the most important item of non-plan expenditure?Interest payment

A person returning from abroad can retain foreign currency up to what period?90 days

What is the Jharkhand’s contribution in the total coal production in India?0.4

Who is called the ‘Father of Economics’?Adam Smith

In which year Atomic Energy Commission (AEC) was setup in India?1948

How is the standard of living in a country represented?Per capita income

Indian Institute of Naturopathy and Yogic Science is located at which city?Lucknow

Which is the best measure of economic growth of a country?GNP

What is the aim of Operation Blackboard?Promoting adult literacy

The Govt. of India does not provide any direct financial assistance to which scheme?Jeevan Sathi Yojana

Who was known as the ‘Liberator of the Press’?Metcalfe

With which India’s progress has been reasonably satisfactory in connection?Growth of GNP

Which was a journal brought out by Abul Kalam Azad?Al -Hilal

The famous book’ The Daughter of the East’ is written by which woman?Ms. Benazir Bhutto

‘In Custody’, an English novel, is written by which woman?Anita Desai

How is development?Wider than economic growth

Who started the newspaper called the “Voice of India”?Dababhai Naoroji

At the beginning of the twentieth century, who published ‘The Economic: History of India’?Romesh Chandra Dutt

Which sector of the economy is state owned and its service sector is a public enterprise?Irrigation

In which sector is 70% of working population of India engaged?Primary sector

The small and marginal farmers will get irrigation facilities through which plan?Ganga Kalyan Yojna

In recent years, how have the capital outlays for the defence service?Increasing steadily

The levying of which following taxe is outside the jurisdiction of Municipal Corporation?Income Tax

Which is the most important item of non-plan expenditure?Interest payment

What is the main objective of Antyodaya programme?Uplift the poor

In which year Swarn Jayanti Gram Swa-Rozgar Yojna came into being?Apr-99

Who is the author of the book ‘A bend in the River’?V.S. Naipaul

By which is National income of India compiled?Central Statistical Organisation

Who wrote the book “A nation in the making”?Surendranath Banerjee

If saving exceeds investment, how will the national income?Remain constant

By whom was the clarion call ‘Dilli Chalo’ was given?Subhash Chandra Bose

In how many adhikaranas is the Kautilya’s ‘Arthashastra’divided?15

Economic Planning is a subject of which list?Union List

By which ministry is Economic survey published?Ministry of Finance

Which is the 193rd member of UNO?South Sudan

On which do Companies pay Corporation Tax?Incomes

By which is National income of India compiled?Central Statistical Organisation

United nations adopted a charter of Economic Rights in which year?1974

On which day is the budget, in normal circumstances, presented to the Parliament?The last day of February

When was the Rolling plan designed?1978-83

Which organization was established as the Bretton Woods Conference in 1944?IMF

As per latest data in urban areas women employment is highest in which industry areas?Retail Trade

On which do Companies pay Corporation Tax?Incomes

Manav Seva Award has been instituted in the memory of which person?Rajiv Gandhi

Who sings on ten rupee notes?Governor (Reserve Bank of India)

When was the decimal system of currency introduced in India?1957

What is the investment in public works?Capital expenditure

Which product is the export leading from India in the terms of value?Gems and Jwellery

Which industry does not earn foreign exchange for India?Fertilizers

Where is the Securities and Exchange Board of India located?Mumbai

Why is Poverty in less developed countries largely?Due to income inequality

Who is most benefitted from inflation?Debtors

Survey of India is under which ministry?Environment and Forest Ministry

From which sector is the largest contribution in India’s National Income?Tertiary sector

Who gave the slogan ‘Inquilab Zindabad’?Iqbal

What are “Open Market Operations”?Selling of giltedged securities by the Government

Which is the ‘Slack Season’ in the Indian Economy?Jan.-June

What is the number of plant species estimated to be present in India?40000

On which bast is the India’s wage policy?Cost of living

Which can be used for checking inflation temporarily?Decrease in money supply

What does real national income denote?National income at constant prices

Under VAT, how many slabs are there?4

What is the cause of inflation?Increase in money supply and fall in production

Who is the author of the book ‘Nineteen Eighty Four’?George Orwell

Who is most benefitted from inflation?Debtors

Who is the author of the best seller book ‘No Full stops in India’?Mark Tully

In the realm of coal production in the world, what is the rank of india?Fourth

Which has the largest number of sugar mills?Maharashtra

Which is treated as artificial currency?SDR

In terms of economics, which recession occurring two times with a small gap in between?Double Dip Recession

Uranium Corporation of India Limited is situated in which state?Bihar

Which is the place where bankers meet and settle their mutual claims and accounts?Clearing House

The Imperial Bank of India, after nationalisation was given the name of which bank?State Bank of India

Kautilya’s ‘Arthashastra’ deals with the aspects of which policies?Political policies

In which year was Minimum inflation in post economic reform?1999-2000

What does Inflation imply?Rise in general price index

Which organizations agency is involved in drafting the Union Budget of India?A d m i n i s t r a t i v e Ministries only

Where are the headquarters of the Organization of the Islamic Conference (OIC) located?Jeddah

What does National income ignore?Salary of employees

Who is the founder of world Economic Forum?Klaus Schwab

Which bank prints currency notes of the denomination of Rs. 100?The Bank Note Press, Dewas

How many languages are used on a ten rupee note?15

Before 31st August, 1965 how many members were in the Economic and Social Council?18

Which industry uses mica?Electrical industry

In which year was the Indian Space Research Organization (ISRO) founded?1969

What is the effect of inflation on tax revenue results in a situation?Fiscal drag

What is the inflation experienced in the country at present?Cost-push inflation

Which is the most important small-scale industry in India?Handloom

Which part of separated UTI is under SEBI’s regulation?UTI-II

By which bank are the central banking functions in India performed?Reserve Bank of India

In which year, African Export and Import Bank came into existence?1993

From where does the National Stock Exchange functions?Mumbai

How many number of atomic power plants existing in India today?7

What was Karaj in the thirteenth century?Tax on cultivation

What is termed as the period of high inflation and low economic growth?Stagflation

Which European country is the guarantor of Bank of Central African States?France

Which state ranks first in terms of the maximum number of agro-based industries?Punjab

Which European country provide its currency for Bank of Central African States?France

Word Bull and Big are associated with which branch of commercial activity?Share Market

Of which bills Open market operations of a Central Bank are sale and purchase?Trade bills

What is the number of principal organs of UNO?6

Among source of power India has largest reserves of which source of power?Coal

To meet the growing needs for coins in the country, where does the Government propose to set up another mint?Noida

For international payments, to which currency is the Indian currency linked?American Dollar

Where are the headquarters of IMF and World Bank located?Both Washington DC

Which is a World Bank group of five institutions?IDA

What was the earlier name of the WTO?GATT

In which year was Railway Budget in India separated from general budget?1924-25

With which India’s progress has been reasonably satisfactory in connection?Growth of GNP

Of the various ways of financing government’s investment expenditure, what is the least inflationary?Taxation

By which band is Monetary policy regulated?Central Bank

When is World Intellectual Property Day, recognized by the UN is observed?26-Apr

In which of the Five Year Plans, preference was given to the weaker sections of the society?Fifth

Upon which development the Second Five Year Plan laid mote stress?Industrialisation

Asia accounts for nearly howmany percent of world population?55

Ankaleshwar in India is known for the production of which state?Assam

From which fund are the salaries of the Judges of the Supreme Court drawn?Consolidated Fund

English is the official language of which State?Nagaland

Why does the Issue Department of the RBI maintain a against printing of note?Minimum Reserve System

Rupee was devalued by what percent in July 1991?20 Percent

What is the position of India in terms of production of coal?Fourth

Railways is a subject on which list?Union List

Which authority sanctions foreign exchange for the import of goods?Reserve Bank of India

Where is the The headquarter of World Trade Organisation?Geneva

Who is the first Indian woman to receive in Borlaug award and in which year?Dr. Amita Patel, 1992

The National Institute of Communicable Diseases is located at which place?Delhi

What is the effect of inflation on tax revenue results in a situation?Fiscal drag

What is the inflation experienced in the country at present?Costpush inflation

Railways is a subject on which list?Union List

Who is the author of a collection of poems called Golden Threshold?Sarojini Naidu

How is Share of Direct tax in post economic reform?Increasing

Famous book ‘The Return of the Native’ is written by which author?Thomos Hardy

In which year was Tax collection of Central govt. lowest as compare to G.D.P.?1999-2000

Which is the updated base for Wholesale Price Index (WPI)?2011-2012

What does National income ignore?Pension of employees

Which groups suffer the most from inflation?Creditors

Which case does stagflation imply?Recession plus inflation

Which is the regulatory authority for giving clearance for External Commercial borrowing?RBI

What does Dear Money Policy imply?High interest rates

Which plant produce seed but not fruit?Mint

What is the mean of Cheap Money?Low Rate of Interest

The Grand Banks are famous fishing grounds in which region?North-West Atlantic

In which product has Bangladesh emerged as the main competitor of India in the world market?Jute

Who sings on One-rupee currency notes?Finance Secretary of India

How is Indian economy?Mixed economy

Among the remedies of inflation, what can we include?Lowering bank rate

When iron rusts, how is its weight?Increases

What is the fact that support the concept that viruses are living is that?Multiply themselves

Who were the first to start a joint stock company trade with India?Portuguese

Where was the first Municipal Corporation in India set up?Kolkata

What is the best means of saving during inflation?Money

Who sings on ten rupee notes?Governor (Reserve Bank of India)

What is Broad money in India?M3

Whose experiments proved that the speed of light was always the same?Michelson and Morley

Indra Nooyi is the Chief Executive Officer of which company?Pepsi

Regional Rural Banks are designed to work in which ideal?Help the targetted groups

Who are Debenture holders of a company?Its creditors

By which bank are the central banking functions in India performed?Reserve Bank of India

From where does the National Stock Exchange functions?Mumbai

Which Public Sector bank’ emblem figures a dog and the words ‘faithful, friendly’ in it?Syndicate Bank

Which bank gives long term loan to farmers?Land Development Bank

Which first Bank was established in India?Bank of Hindustan

Who wrote the book ‘Planned Economy for India’?M. Visvesvaraya

Which first Bank was established in India?Bank of Hindustan

Which is the oldest Development Financial Institution of India?IFCI

Prof. Amartya Sen has earned worldwide distinction in which field /area?Economics

By whom was the first attempt to initiate economic planning in India made?By M. Visvesvaraya

Which is the colour of the outer edge of the rainbow?Red

For howmany years is rolling plan?One year

When was West African Monetary and Economic Union found?1994

In which year were Private Sector Mutual Funds in India permitted?1993

How many members of African Development Bank are there?78

How is the tax which is paid by the person on whom the tax is incident?Direct tax

Which is called a ‘banker’s cheque’?Demand draft

Of which bills Open market operations of a Central Bank are sale and purchase?Trade bills

Which is the largest Public Sector Bank in India?State Bank of India

How is the censorship of the press judged?By the test of reasonableness

Which bank is the Banker of the Banks?RBI

Participatory Notes (PNs) are associated with which investors?Foreign Institutional Investors

With whose assistance was Bokaro Steel Limited established?Soviet Union

To which duties is the system of value added taxation applicable?Excise duties

Howmany ’ of Banks were nationalised since 1969?14

What is the animal on the insignia of the RBI?Panther

Which is the place where bankers meet and settle their mutual claims and accounts?Clearing House

In which plan was the growth rate of agricultural production negative?Third Plan

On which day is the budget, in normal circumstances, presented to the Parliament?The last day of February

During which Five Year Plan was the total expenditure on agriculture the highest?Fourth Five Year Plan

Which place does Buyer’s market denote?The demand exceeds the supply

What is deficit financing?Spending in excess of revenue

Which is concerned with the regularity and economy of expenditure of government?Public Accounts Committee

How is the tax which is paid by the person on whom the tax is incident?Direct tax

In which terms is the Rate of growth of an economy measured?National income

What is the main objective of Antyodaya programme?Uplift the poor

Which bank gives long term loan to farmers?Land Development Bank

How is the standard of living in a country represented?Per capita income

Which groups suffer the most from inflation?Creditors

What is Broad money in India?M3

Regional Rural Banks are designed to work in which ideal?Help the targetted groups

Which is the best measure of economic growth of a country?NNP

From which country did India buy the Barak anti-missile defence systems?Israel

Why is Poverty in less developed countries largely?Due to income inequality

What does M3 include?M1 + T.D

The Imperial Bank of India, after nationalisation was given the name of which bank?State Bank of India

Funds belonging to the Government of India are kept in which fund?Consolidated Fund of India

Where is the headquarters of Food and Agriculture Organisation?Rome

On which tax is the minimum effect of Direct Taxes?Income

What is the total number of High Courts in India at present?24

What is the most appropriate measure of a country’s economic growth?Per capita real income

What about the salaries of the Judges of the Supreme Court of India during financial emergency?Cannot be reduced

The headquarters of International Atomic Energy Agency is located in which city?Vienna

Which one of the Chola kings conquered Ceylon (Sinhal) first?Rajaraja I

In which terms is the Rate of growth of an economy measured?National income

What is temporary tax levied to obtain additional revenue?Surcharge

In the short run, a producer,’ how long continues his production?Fixed cost

What is the animal on the insignia of the RBI?Panther

What is temporary tax levied to obtain additional revenue?Surcharge

What does Dear Money Policy imply?High interest rates

Which decade is celebrated as Bone and Joint Decade, recognised by WHO?2001-2010

At where were the High Courts in India first started?Bombay, Madras, Calcutta

Country is the new member of International Coffee Organisation?Vietnam

Where is the headquarters of African Export and Import Bank?Egypt

What is deficit financing?Spending in excess of revenue

On which tax is the minimum effect of Direct Taxes?Income

Where were the first coffee forms established by English?Chikmagalur district

When was National Development Council set up?1952

In the short run, a producer,’ how long continues his production?Fixed cost

Which place does Buyer’s market denote?The demand exceeds the supply

Which is the largest committee of Parliament of India?Estimates Committee

What is the principal source of revenue to the State Government in India?Sales Tax

Which UN body deals with population problem?UNFPA

In which policy India opted for ‘Mixed Economy’?Industrial Policy of 1948

How is the contribution of agriculture to India’s economy?Decreasing

The first railway line was laid in which state?North-East England

Revenue receipt contains all taxes come?all taxes

Which type of rubber provides the best commercial rubber?Castillo

Why was Mashelkar Committee constituted?Auto fuel policy

By whom was concept of Five Year Plans in India introduced?Jawaharlal Nehru

How is Share of Direct tax in post economic reform?Increasing

What is the study of principles and procedures of classification?Taxonomy

What is the investment in public works?Capital expenditure

Which body finalises the Five Year Plan proposals?National Development Council

Why is the Gross National Income always more than Net National Income?Direct taxes

According to the law of demand, what happens when price increases?Demand decreases

Who is the originator of Green Revolution in India?Norman E. Borlaug

By whom is Agricultural Income Tax assigned to the State Governments?By the Constitution of India

India is self sufficient in production of which of the following commodities?Milk

By which income individual’s actual standard of living can be assessed?Disposable Personal Income

How is Indian economy?Mixed economy

In which year, Economic Community of West African States came into existence?1975

Which of the following Indian banks became the first to touch a market capitalization of `1,00,000 crore in India?ICICI

By which law it has been said that with continue increase in income, expenses on food product decreases-Angel law

Bank deposits that can be drawn without notice are calledDemand deposits

Interest given on a money borrowed-At simple interest rate

Last date of exchange of `500 & `1000 notes issued before 2005 was31 Dec. 2015

SIDBI Stands forSmall industries development bank of India

IDBI was established onJuly, 1964

Under the rules of the IMF, each member is required to declare the par value of its legal tender money in terms of US Dollars andPound, sterling

SBI was earlier known asImperial Bank of India

Interest on saving deposits in all nationalized banks of India is determined byReserve Bank of India

Number of nationalized bank in India.21

Monetary and Fiscal policy is regulated byRBI

Which is the central Bank of India?RBI

RBI was nationalized in1949

Fourteen India Banks were nationalized in1969

‘NABARD’ Stands forNation Bank for Agriculture and Rural Development.

Which is centralized upto rural and development purposes?NABARD

‘NABARD’ is related to development ofAgriculture and Rural areas

One rupee coins and notes are issued byIndian Government

One Rupee notes are issued byIndian Government

Who is responsible for issuing of one rupee coin in India?Finance Ministry

Whose signature is done on one rupee note?Finance Secretary

Interest rates are decided byLiquidity Preference

Decimal Money System was started in?1957

Aggregate Monetary resource isM3

Minimum to Maximum reserved deposits in RBI by Commercial Banks in CalledExcess reserve

Cash Reserve Ratio is determined byCentral Banks

Remedy Finance is done byRBI

Cash Reserve Ratio and open Market Operation are the tools ofMonetary Policy

In E-banking, ‘E’ tax do forElectronic banking

Liquidity Preference meansHolding assets in the form of cash

The Permission given to a bank customer to draw cheques in excess of his current account balance is called.An overdraft

RBI does not transact the business of which state government?Nagaland

Who was appointed as governor of RBI After Dr. Y.V. Reddy?Shri D. Subbarao

RBI issues currency notes under theFixedMinimumReserve system

‘Hard Currency’ isA currency not easy to access

Financial Year of RBI is fromJuly to June

Cheap money meansLow rate of interest

A Schedule Bank in one which is included in theII Schedule of RBI act

Monetary system in India is regulated byRBI

When money supply increases the LM curve?Shift towards right

Monetary Policy is maintained byRBI

Largest Commercial Bank of India isSBI

Highest branches of Indian Bank is inUK

A part of National Debt known as External dept is the amount.Borrowed by its government from abroad

When there is effect on economic activity of an specific country due to import and export, then such economy are called-Open economy

Worldwide great depression happens in which year-1929

Preparing butter and ghee for household consumption of own family is a part ofOwn Account Production

“Economics is what it ought to be”. This statement refers to-Normative economics

In an economy capital formation depends upon.Total saving

The best example of capital intensive industry in India is-Steel industry

Removal of prohibitions and hindrance by government is called.Liberalisation

In an economy “development stage” means-Starting of steadily increasing economy

The tree like structure of records in a database in-Hierarchical model

Who said that for short duration price consumption is constant.Kenz

According to Kenz consumption function shows relation between.Total consumption and Total income

The concept of labour division was supported by-Smith

In interest in infrastructure is less because.Profit is gained after large time.

“World Bank” is also called as –I n t e r n a t i o n a l reorganized & development bank

What will happen if labour productivity is increased?Labour demand curve will shift towards right

Water consumption is minimum isThermal power

In Socialistic economy all the factor of production are owned and controlled byGovernment

Socialism is successful in achievingExcess socialistic approach in society

The capital of IMF is made up by the contribution ofMember nations

The term “Micro Economics” and “Macro Economics” was coined byRagner Frisch

“Micro” and “Macro” words was firstly used byRagner Frisch

Who is Known as “Father of Economics”Adam Smith

Economics by “Kautilya” is related withPolitical reign

“Economics is the science of Wealth” the above statement is given byAdam Smith

To which form of economy is the term “Laissez-faire” associated.Capitalist economy

Who propounded “Revealed Preference Theory”P.A. Samuellson

Social Accounting system in India is classified intoIncome, Product and expenditure

In an economy, the sectors are classified into public and private on the basis ofOwnership of enterprises

Production of a commodity mostly through the natural process is an activity ofPrimary Sector

Rent is a cost paid forLand

Who propounded Dynamic theory of Profit?Clark

Innovation theory of Profit was propounded by?Schumpeter

Who said development a “Creative destruction” under capitalism?Schumpeter

Prof. Milton Freedman was the leader of?Sehicago School

Due to worldwide great depression, ‘New Deal’ was declared by?Roozwelt

Relationship between rate of interest and consumption level was firstly estimated byMilton Freedman

Surplus earned by a factor other thus land in the short period is referred asQuasi-rent

Labour intensive Technique would get chosen in aLabour Surplus Economy

Word “Oikonomia” meansHouse hold Balance

Which type of workers are called as cultivatorsWho works on other’s land

Amartya Sen was awarded the Noble prize for his contribution toEconometrics

Views of eminent economist Robert Malthus on Population isPessimistic

Indian Economy is an example ofMixed Economy

According to whom second chamber is unnecessary & bad?Bentham

Theory of “Maximum Social Theory” for Public finance was given byDelton

Time clement in price discrimination was started byAlfred Marshall

Maximum depression was observed in which duration?1929-34

The process of organizing business-pact between group of countries is called asTrading block

What is mean by favourable. Balance of Trade.Less import than export

“Price Index” is measured by change in which of the following-Purchasing power of money

‘Gold’ is mainly related to-International market

“Gold Bullion Standard” is related to –To check that there is no tariff on import & export of gold

Firstly SEZ was situated in-India

Full form of SEZ –Special Economic Zone

The purpose of SEZ in India to –Increase FDI

India started to export electricity toBangladesh

Which among the UN council has not accepted Euro?Sweden

Trade Policy includeExport Import Policy

Goods – Exchange meansExchange of goods with goods

Free trade Means–Unrestricted exchange of goods and services

Which is the feature of “Free Market”Superiority of Consumer

Pegging up of a currency means, deciding value of money atHighest stage

World Trade Organization was established in1995

WTO promotesMultinational trade

WTO was earlier known asGATT

Inter nation trade is controlled byWTO

The practice of selling goods in a foreign country at a price below their domestic selling price is called.Dumping

Money / Investment is an example ofFloating Capital

For any product, balance of market is decided byVarious forces operating between demand and supply.

Export of Jawellery and ornament for India is maximum withUSA

For import of which product, India spends largest.Raw petroleum

The government resorts to devaluation of it currency in order to promoteExports

Difference between visible exports and visible imports is called asBalance of trade

The system of “Memorandum of Understandings” (MoU) was introduced in1987-88

Full form of SDR isState Drawing Rights

In Post-Independence Period first economic reform was started in the government ofP.V. Narshingha Rao (1990)

Oilseeds production Programme (OPP) was started in1990

TRIMs Stands forTrade Related Investment Measures.

FAO meansFood and Agriculture Organization

GEF Nands forGlobal Environment fund

Number of stages in trade cycle is?Fair

Buying of shares and bonds of Indian companies by foreign institutions is called.Portfolio Investment

Expenditure, taxation a loan taking policies of government are called as-Fiscal policy

Deficit financing is an instrument ofFiscal policy

Fiscal policy is related toReceiving and expenditure of govt.

“Hire and Fire” is a policy of-Capitalist

According to socialism who is the greatest enemy of society.Personal Property

From national point of view, which of the following represent micro approach.Study of selling of Tisco

Expenditure on interest payment, subsidy, pension, social welfare is a part ofN o n - p l a n n e d expenditure

Economic Support by government of India is given toProductive unit

The Prominent factor responsible for division of contingency fund.Vulnerability

FERA has been replaced byFEMA

For which fund can the unanticipated expenditure be met without the prior approval of the parliament?Contingency Fund of India

Economic Survey of India is published byMinistry of Finance

Government takes “Ways and Means advances” fromRBI

Maximum Part of revenue of Indian railway comes from.Transport of goods

Disinvestment in Public Sector is calledPrivatization

The expenditure than has been made and cannot be recovered is called.Sunk cost

Which cost has relation with lowest cost?Variable cost

Prime cost equal to-Variable cost + Administrative cost

Payment given to foreign by firms for using their goods and services are called.Explicit cost

Balance of Cost determination in a market is done by.Equalityinmarginal cost and marginal revenue

Marginal Cost equal to∆ Total Cost ∆ output

The additional to total cost by producing an additional unit of output by a firm is called.Marginal Cost

Balanced cost meansQuantity of demand and supply is equal

For production minimum payment is called.Wages

Explicit + Implicit cost =Economic cost

The opportunity cost of a factor of production isWhat it can earn in some other use

When average cost of production decreases then marginal cost of productionLess than average cost

Consumption of inferior goods decreases when-Income increases

For a good --------negative income elasticity and positive price elasticity of demand, then the good is-Giffen good

Goods which are either for consumption or for investment are called-Final goods

In capitalist economy, price value is determined by.Demand & Supply

Discuss about giffen and inferior good.Giffen goods are also inferior goods

Group consumption means-Consumption by people of country.

In respect to inferior good, price elasticity of demand is –Negative

Elasticity expressed by formula 1>e>o is –Relatively inelastic.

When there is no change in demand, with large change in price then such type of demands are called.Perfectly inelastic

With other factor Constant, the demand of any product is decreased by.Increase in price of that product

Law of demand is good onCustomer’s preference

According to “Law of Demand”, “quantity of demand increases”With decrease in price.

“Law of market” was propounded byJ.B. Say

“Law of Market” propounded by J.B. Say was not acceptable toMalthus

The demand of factor of production is called.Derived Demand

Demand of Labour is calledDrived demand

Horizontal demand shows relationBetweenrelatedproducts demand and price

According to demand curve of any product, increase in demand in due toIncome

Which factor is not responsible for shifting demand curve right side.Decrease in cost of production

A supply function expresses relationship between.Price and Production

Productive goods are called asInvestment goods

When demand curve of any product is parallel to x-axis, then elasticity of demand will bePerfectly elastic

Perfectly inelastic demand is equal toZero

Exceptional Demand curve is that whichGoes upper towards right

The supply of agricultural product isInelastic

Price discrimination by monopolist’s is done on the basis ofDemand elasticity

If two products are complements, then their cross Price Elasticity will beNegative

Refrigerator working at chemists shop is an example ofConsumer goods

If A and B are complementary goods, then what will be effect if cost of A is increased?Demand of B will be decreased.

Law of demand shows relationship between.Cost and demand

If there is decrease in price of X, then demand of Y is also decreased, then X & Y are.Substitute goods

Cross Elasticity of demand between Petrol and Car isNegative

For Successful Price discrimination between two market, demand elasticity of production should be.Different

Extension or contraction of quantity demanded of a product is a result of a change in theUnit price of the commodity.

The main determinant of real wage is –Purchasing power of money.

During period of inflation tax rate should.Increase

Demand pull inflation is a condition ofExtra demand

“Price Index” is measured by change inPurchasing power

Inflation distributes money and Income in favour ofRich

Presence of both higher rate of inflation and unemployment is calledStagflation

Stagflation is a situation ofStagnation and inflation

The relationship between the value of money and the price level is an economy isInverse

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Which one is not the measure taken by government to control inflation?Increase in consumption

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Who gets Minimum profit during inflation?Entrepreneurs

The process of curing inflation by reducing money supply is called.Disinflation

With increase in money supply then cost of goods and services will.Increase

Inflation can be checked bySelling of government bonds

When too much money is chasing too few goods, the situation is–Inflation

Which is the best for any firm?Decrease in production

Toothpaste is a product sold under.M o n o p o l i s t i c Competition

Monopoly is related to-Capitalism

In which market structure is the demand curve of the market is represented by demand curve of the firm?Monopoly

Bilateral Monopoly refers to the market situation ofOne seller, one buyer.

Under Monopoly the number of seller is-One

Extreme forms of market are-Perfect Competition, Monopoly.

Less number of firms in market is called as –Oligopoly

New firms are not allowed in market with.Monopoly.

The degree of monopoly power is to be measured in terms of the firms.Super normal profit

In according to social view, the ideal production will occur in-Perfect Competition

Under Perfect Competition, firms are generally-Cost taking

Under perfect competition the balance of any firm is decided when.Marginal revenue = Marginal Cost

Under Perfect Competition who is Price Acceptor.Firm.

“Exchange of Commodities” between two countries means.Bilateral trade

Selling cost is not included underPerfect Competition

Now capital issue is placed atPrimary Market

Exchange and control of Stock Market is done bySEBI

In India exchange and control of share market is done bySEBI

Who is the regulatory authority of credit rating agency in IndiaSEBI

Market in which money can be earned as loan.Money Market

Theory of “Monopolistic Competition” was given byEdward Chamberlin

For existence of which type of market Recordo Propounded rent theoryMonopoly

The situation is which total revenue equals to total cost isBreak-even point

Demand curve of a firm under perfect competition isHorizontal to x – axis

Open market operations of RBI refers to buying and selling ofGovernment bond

“Supply Creates its own Demand.” It is–Law of market

Short – term government securities is calledTreasury bill

Full from of FCCB isForeign Currency Convertible bonds

Expenditure on advertisement and public relation by an enterprise is a part of its-I n t e r m e d i a t e consumption

To calculate national income. Which of the following measures is not used?Income method

To measure national income by income method which among the following is not included?Pension

Per capital income is equal to .National income/Total population

Economic progress of a country is based on-Income in per capital income

The income of Indians working abroad is-Net domestic product of India

The standard of living of any individual can be calculated byPer capital income

Income and consumption as related as.Direct proportional

With increase in income the increase in ratio between income & expenditure changesRatio less than 1

National income is generated from.Productive activity

The total value of good and service produced is a country during a given period isNational income

Gross National Product – Depreciation =Net National Product

National income means.Net national product at factor cost

National income estimates in India are prepared by.Central Statistical office (CSO)

Net G.D.P is measured atFined Cost

GDP is what percent of Fiscal deficit?4

For short duration, when income increases, then normally average price consumption.Fluctuation is seen.

Census of India agriculture is done byProduction method

For First time National Income was estimated byDadabhai Naoroji

Firstly Income Committee was established in1949

National Income isNNP – Indirect tax + subsidy

National income of a country isSum total of production

Which among the following is not taken for calculating GNP by expenditure method?Depreciation

Depreciation is equal toGNP – NNP

National Income includeConstruction of a new House

National Income doesn’t includeWinning of Lottery

Transfer Payment includeGifts received form a friend

Which agency is responsible for calculation of National Income in India?CSO

Other name of Net National Product at market price?National Income

Net National Product of a country isGNP – depreciation

Compared to rich the poor savesA small part of their income

Which organization collects data for the unorganized sector?NSSO

One of the main factors that led to rapid expansion of Indian exports isLiberalization of the economy

The distance of exclusive economic zone for any country from its coast is320 km

Effect of ‘Investment Multiplier’ is shows onIncome

GDP at factor cost equalsGDP – Indirect Tax subsidy

Without insurance or uncertainity problem is –Change in fashion.

Verghese Kurrien is related to – White Revolution

Blue revolution is related to –Fish production

Blue and White Revolution is related with –Fish and Milk

Brown Revolution is called as –Increase in fertilizer production

India Adopted to give socialistic shape to country.Mixed economy

Economic planning is a part ofSocialistic economy

After ONGC, OIC, NTPC and SAIL, the ‘Navratna’ PSU which was awarded ‘Maharatna’ Status isCoal India Ltd.

Total number of Navratna PSE has become after including shipping corporation of India.18

Who supported PURA model.A.P.J. Abdul Kalam.

PURA model was advocated bristly by.Dr. A.P.J. Abdul Kalam

Dr. P Rama Rao Committee is related with.Defence

Which three year is said as “Planning Holiday” for our country?1966-69

“Plan Holiday” was declared afterThird Five Year Plan

Poverty alleviation was the aim of which Five Year Plan.Fifth

Slogan “Poverty Alleviation” was added to which Five Year Plan.Fifth

Duration of 12th Five year Plan is2012-2017

Eleventh five year Plan’s duration is1 April 2007 to 31 March 2012

India’s First five year plan was faced upon.Harrod Domor Model

Which five year plan’s duration was only four year?Fifth

Which Five Year Plan was based upon Mahalanobis Model?Second

Second five year plan was based onMohalanobis Model

Second five year plan give priority toHeavy industries

Which five year plan gave priority to heavy industries?Second

Who is the chairman of planning commission?Prime Minister

To get rid of economic inequality Mahatma Gandhi gave theory/substitute ofTrusteeship Theory

Social Forestry scheme was started inFifth five year plan

Due to subsidy, the expenditure of Indian government is maximum forOil

Which type of products does CACP recommend minimum support price for?Agricultural products

“Jeevan Sathi Yojan 2008-09” was started byLIC

Implementation of Jawahar Rozgar Yojana rests withGram Panchayats

Under ‘India Aawas Yojana’ residence are provided toPoor people of rural areas

The Minimum wages Act was firstly passed in India in the year.1948

‘Kisan Credit Card Yojana’ was started in1998

‘Antodaya Programme’ is related toPoorest of the poor

In which matter green revolution has achieved maximum success.Wheat

Minimum Support Price (MSP) for food products was started in1964

Who coined the term ‘Hindu rate of growth’ for Indian economy?Raj Krishna

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Vintage care are manufacturedBetween 1918 and 1930

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Which Indian industry is employing large number of workers?Textile industry

The gradation and standardization of agricultural products are conducted throughDirectorateofMarketing and Inspection

Identify the one which is not related to the Agricultural Price Policy.Licensing

Which is the characteristic of Indian Agriculture?Land Scard, labour surplus

Cattle rearing along with forming is called.Mixed farming

To get rid from evils of sub-division and fragmentation, which among the following is best measure.Consolidation of Holidays (Chakbandi)

Achievement in agriculture by India has not reached upto a greater level due toSmall holdings

In Indian Agriculture High Yielding Variety Programme was started in1966

Which is not the feature of Indian Agriculture?Supremacy of big firms

Golden Handshake Scheme is associated withEstablishing Joint Enterprises

Minimum Support Price, in India is decided by.CommissionofAgriculture cost and Price.

Census 2011 was.15th Census

Poverty in less developed countries is largely due to.Income inequality

When was the minimum wages act enacted in India?1948

India adopted Five Year Plan fromFarmer USSR

According to measurement, internal return isAnnualized effective effect

According to unit of measurement, internal return is.A concept of long term production

Kob- Doglash Production function Q = Aha k(1-a) is dependent upon.Constant interest return

Rate of internal return should.Inake cost of production and profit equal.

Increasing internal return meansDecreasing cost

If on decreasing rate of interest increase in marginal internal return, then total internal return.Increases

Third situation of low of variable proportion isNegative return

The excess of the price, person is to pay rather than forego the consumption of the commodity is called.Producer’s surplus

Production function marks relation between.Internal input and production

Production function signifies.Industrial relation

Production function shows relation betweenPrimary input and ultimate output

Group consumption means.H o u s e h o l d consumption

Marginal Propensity to consume lies between.0 to 1

When the total product rises at an increasing rate, then theMarginal product is rising

Economics of scale means reduction inUnit cost of production

The remuneration of the entrepreneur in production isPure Profit

Operating Surplus is produced inEnterprise Sector

In Economics, Production meansCreating utility

The marginal revenue of monopolist isLess than price

The ‘Break-even’ point is whereTotal revenue equals total cost.

Example of Sales tax is-Indirect tax

Coorporate tax are imposed by central govt., but used byBoth state & central

Taxation is an instrument ofFiscal policy

What is reduced from NNP to get National income.Indirect Tax

Indirect tax by nature areRegressive

In case of direct tax, impact of tax & incidence of tax.On same person

Which field gives highest tax-Industrial sector

If the tax rate increases with the higher level of income it shall be called.Progressive tax

Who was the chairmen of tenth Finance Commission?K.C. pant

Who was the chairmen of 13th Finance Commission?Dr. vijay L Kelkar

VAT was firstly implemented inFrance

VAT is imposed onAll level of production and selling

CENVAT is related withExcise duty

Fringe Benefit Tax was introduced in budget2005-06

‘Value - added’ is equal toOutput Minus the Inputs

Vijay Kelkar Committee was related toTax reform

Finance Commission is organized.After every five year

Excise duty is paid for–Production of a commodity

If for any product X, total utility from an units is 20 and from 10 unit is 15, then Marginal utility is-5

In economics, ‘utility’ and ‘Usefulness’ words has.Different meaning

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