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Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 36

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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 one of the following is true for disguised unemployment ?
(1) It has savings potential.
(2) It has investment potential.
(3) It is a source of expanding production.
(4) It is a source of social unrest.
Answer: It has savings potential.
(2) In the steady state growth situation in the Solow’s model of growth, the upper limit to growth would be determined by the growth rate of
(1) Population
(2) Capital
(3) Output
(4) Capital and output
Answer: Population

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(3) A tax is said to be progressive, when the marginal rate of tax is
(1) greater than the average rate
(2) less than the average rate
(3) equal to the average rate
(4) equal to the marginal sacrifice
Answer: greater than the average rate
(4) Methods of debt-redemption include
(1) Capital levy
(2) Sinking fund
(3) Debt repudiation
(4) All the above
Answer: All the above
(5) Which of the following is related with optimum currency area ?
(1) Optimal geographical area for a single currency.
(2) Optimal geographical area for several currencies whose exchange rates are relatively pegged.
(3) Single currency or the pegged currencies fluctuate jointly vis-à-vis other currencies.
(4) All the above.
Answer: All the above.
(6) Which one of the following is not included under WTO regulations ?
(1) Removal of industrial licenses.
(2) Removal of import tariffs.
(3) Removal of foreign portfolio investments
(4) Removal of price controls.
Answer: Removal of foreign portfolio investments
(7) Which of the following statements is true ?
(1) Asian financial crisis is generally considered to have started on July 2, 1997 with the devaluation of the Thai Baht.
(2) Asian financial crisis is generally considered to have started on 2nd August, 1998 with the Russian’s crisis.
(3) Brazil’s 1999 crisis is generally considered to be the main cause of Asian financial crisis.
(4) All the above are true.
Answer: Asian financial crisis is generally considered to have started on July 2, 1997 with the devaluation of the Thai Baht.
(8) Which of the following is true for European Union ?
(1) All member countries have the Euro currency.
(2) All member countries have the same defence policy.
(3) There are no tariffs between member countries.
(4) All member countries have the same taxation policy.
Answer: There are no tariffs between member countries.
(9) When a nation imposes an import tariffs, the nation’s offer curve will
(1) shift away from the axis measuring exports
(2) move closer to the axis measuring exports
(3) no shift will take place
(4) None of the above
Answer: move closer to the axis measuring exports
(10) Market at which transaction will be consummated at some specified time in future is called
(1) Spot market
(2) Current market
(3) Capital market
(4) Forward market
Answer: Forward market
(11) Capital adequacy ratio of all commercial banks in India is
(1) below the required rate of 9 %
(2) equal to the required rate of 9 %
(3) well above the required rate of 9 %well above the required rate of 9 %
(4) far below the required rate of 9 %
Answer: well above the required rate of 9 %
(12) An stable population is characterised by
(1) Constant birth rate
(2) None of the above are true
(3) Unchanging age structure
(4) Both the above are true
Answer: Both the above are true
(13) Which of the following is true for Net Reproduction Rate ?
(1) It relates to average number of daughters born to a female.
(2) It relates to the life span of a female.
(3) Both (A) and (B) are true.
(4) None of (A) or (B) are true.
Answer: It relates to average number of daughters born to a female.
(14) Which option is true for population dividend to manifest ?
(1) Population in the age group between 0-7 years is likely to increase.
(2) Population in the age group between 8-15 years is likely to increase.
(3) Population in the age group between 15-64 years is likely to increase.
(4) Population in the age group above 65 years is likely to increase.
Answer: Population in the age group between 15-64 years is likely to increase.
(15) Which one of the following is the correct sequence of development of sectors in India post-independence ?
(1) Agriculture, Industry, Service
(2) Service, Agriculture, Industry
(3) Industry, Agriculture, Service
(4) Agriculture, Service, Industry
Answer: Agriculture, Service, Industry

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