Indian Economy Questions

Q:

Depreciation is loss in value of ________

A) Final goods B) Machinery
C) Capital stock D) Stock of inventory
 
Answer & Explanation Answer: B) Machinery

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Q:

National Income of India is compiled by

A) Finance Commission B) Indian Statistical Institute
C) National Development Council D) Central Statistical Organization
 
Answer & Explanation Answer: D) Central Statistical Organization

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Q:

On 24 October 2017, the Government of India announced a massive of ______ package to boost economy

A) Rs 7 lakh crore B) Rs 9 lakh crore
C) Rs 15 lakh crore D) Rs 5 lakh crore
 
Answer & Explanation Answer: B) Rs 9 lakh crore

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Q:

In which of the following types of economy are the factors of production owned individually?

A) Capitalist B) Socialist
C) Mixed D) Both Capitalist and Socialist
 
Answer & Explanation Answer: A) Capitalist

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Q:

Pump priming should be resorted to at a time of?

A) Inflation B) Deflation
C) Stagflation D) Reflation
 
Answer & Explanation Answer: B) Deflation

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Q:

Which among the following is not an instrument of fiscal policy?

A) Taxation B) Public expenditure
C) Public debt D) Credit Rationing
 
Answer & Explanation Answer: D) Credit Rationing

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Q:

The ________ balance is the sum of the balance of merchandise trade, services and net transfers received from the rest of the world.

A) Current Account B) Savings Account
C) Capital Account D) Asset Account
 
Answer & Explanation Answer: A) Current Account

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Q:

Economic planning in India is in____

A) Union List B) State list
C) Concurrent List D) None
 
Answer & Explanation Answer: C) Concurrent List

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