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Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 16

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Free Download as PDF Economics Quiz Questions and Answers for Competitive Exams or solved MCQs with answers. These quiz objective questions are helpful for competitive exams SSC, UPSC, IAS, IPS, CDS, NDA, Railways or RRB, psc exams of Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Orissa, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttar Pradesh, West Bengal, Chhattisgarh, Uttarakhand, Jharkhand, Telangana etc.
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(1) Which among the following items are included in the NAMA ?
(1) Fish and marine products
(2) Manufactured products
(3) Fuel products
(4) All the above
Answer: All the above
(2) Which among the following is the largest trading partner of India in 2015-16 ?
(1) USA
(2) UAE
(3) Euro zone
(4) China
Answer: China

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(3) Kisan Kalyan Cess is imposed on
(1) Taxable services
(2) Cold storages
(3) Mandi Samitis
(4) Corporations
Answer: Taxable services
(4) Which one of the following is not correct about SEBI (Securities and Exchange Board of India ?
(1) It has the power to protect the interest of the investors in securities.
(2) It has the power to convert private securities to public securities.
(3) It has the power to promote development of capital market.
(4) It has the power to regulate the working of stock exchange.
Answer: It has the power to convert private securities to public securities.
(5) Which among the following countries (as on May 2016) are currently using the Quantitative easing as a measure to improve the inflationary expectations in the economy ?
(1) Current rate of interest
(2) Britain
(3) USA
(4) Australia
Answer: Japan
(6) The base year of the newly introduced Consumer Price Index (CPI) in India has been shifted to the year :
(1) 2009
(2) 2012
(3) 2011
(4) 2010
Answer: 2012
(7) Which of the following is not a legal tender in India ?
(1) One rupee coin
(2) Fifty paise coin
(3) 500 note
(4) Government securities
Answer: Government securities
(8) In order for someone to be a free rider, an activity must be undertaken that :
(1) arranges for ride-sharing at rush hour.
(2) creates benefits for people who cannot be forced to pay for them
(3) beautifies a neighbourhood.
(4) identifies the beneficiaries and forces them to pay.
Answer: creates benefits for people who cannot be forced to pay for them
(9) Which factor has no role in the shifting of a tax ?
(1) Change in prices
(2) Nature of demand
(3) Income of the consumer
(4) Elasticity of demand and supply
Answer: Income of the consumer
(10) An imposition of capital gains tax will
(1) reduce both savings and investment
(2) increase savings
(3) reduce savings
(4) increase consumption
Answer: reduce savings
(11) Who among the following is not a regulator of financial sector in India ?
(1) Securities and Exchange Board of India
(2) Insurance Regulatory and Development Authority
(3) Competition Commission of India
(4) Forward Market Commission of India
Answer: Competition Commission of India
(12) The Arithmetic mean and median in a moderately skewed distribution are 28.1 and 27.6. The value of mode in this distribution would be
(1) 26.8
(2) 26.6
(3) 29.0
(4) 27.5
Answer: 26.6
(13) Which of the following is not unit free ?
(1) Coefficient of correlation
(2) Coefficient of variation
(3) Laspeyer’s Index Number
(4) Standard deviation
Answer: Standard deviation
(14) Which of the following is a probability based sampling method ?
(1) Quota sampling
(2) Purposive sampling
(3) Systematic sampling
(4) Convenience sampling
Answer: Systematic sampling
(15) By which year, the Central Government has planned to double the income of the farmers ?
(1) 2019
(2) 2020
(3) 2022
(4) 2024
Answer: 2022

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