UPSC MCQ On Indian Economy – 8

Quiz on “UPSC MCQ On Indian Economy – 8” giving you an idea about questions asked on Indian Economy in competitive exams.

Que (176):
When was the Reserve Bank of India taken over by the Government?
A. 1941
B. 1943
C. 1948
D. 1946
Answer

1948
nan

Que (177):
Of which purpose was Nationalisation of banks done?
A. Consolidating the economy
B. Increasing the cash
C. Introducing cash economy
D. Increasing government income
Answer

Consolidating the economy
nan

Que (178):
In India, in which year was the service tax first introduced?
A. 1995
B. 1994
C. 1998
D. 1996
Answer

1994
nan

Que (179):
Which country is well known for diamond cutting industry ?
A. Belgium
B. Portgugal
C. Iran
D. Dubai
Answer

Belgium
nan

Que (180):
Under which do all taxes come?
A. Federal revenue
B. Corporate revenue
C. Excise index
D. Revenue receipts
Answer

Revenue receipts
nan

Que (181):
How many members are there in the International Finance Corporation?
A. 154
B. 164
C. 174
D. 184
Answer

184
nan

Que (182):
Who is called the ‘Father of Economics’ ?
A. Adam Smith
B. Karl Marx
C. Friedman
D. Ricardo
Answer

Adam Smith
nan

Que (183):
By whom was concept of Five Year Plans in India introduced?
A. Mahatma Gandhi
B. Jawaharlal Nehru
C. Vallabhai Patel
D. BR Ambedkar
Answer

Jawaharlal Nehru
nan

Que (184):
If the cash-reserve ratio is lowered by the Central bank, what will be its effect on credit creation?
A. Increase
B. Decrease
C. Constant
D. none of these
Answer

Increase
nan

Que (185):
Which Public Sector bank’ emblem figures a dog and the words ‘faithful, friendly’ in it?
A. Allahbad bank
B. Syndicate bank
C. Bank of Maharashtra
D. nan
Answer

Syndicate Bank
nan

Que (186):
What does Net factor income from abroad added to GDP give?
A. nan
B. nan
C. nan
D. nan
Answer

GNP
nan

Que (187):
Terms of economics, which recession occurring two times with a small gap in between?
A. Inflation
B. Stagflation
C. Regression
D. Deep Recession
Answer

Deep Recession
nan

Que (188):
What is the meaning of Cheap Money?
A. Low rate of returns
B. Low Rate of Interest
C. Low rate of investment
D. none of these
Answer

Low Rate of Interest
nan

Que (189):
Which is a source of income of the Gram Panchayats?
A. Tax collections
B. Development funds
C. Interests
D. Levy Duties
Answer

Levy Duties
nan

Que (190):
According to the law of demand, what happens when price increases?
A. Demand decreases
B. Demand increases
C. Demand is constant
D. No change in demand
Answer

Demand decreases
nan

Que (191):
Which situation makes a firm most efficient?
A. Lowest average costs
B. Average costs
C. Lowest labour
D. Lowest rent cost
Answer

Lowest average costs
nan

Que (192):
For how many years is rolling plan remained active?
A. One year
B. Two years
C. Three years
D. Four years
Answer

One year
nan

Que (193):
Through which methods is the national income of India estimated mainly?
A. Production and income methods
B. Through tax calculations
C. Mean and mode
D. none of these
Answer

Production and income methods
nan

Que (194):
Which are referred to as the developed economies?
A. Countries having large per capita income
B. Countries having above average per capita income
C. Countries having average per capita income
D. Countries having normal per capita income
Answer

Countries having large per capita income
nan

Que (195):
Which Indian port leads in imports?
A. Mumbai
B. Banglore
C. Kerla
D. West Bengal
Answer

Mumbai
nan

Que (196):
In India, which first bank of limited liability managed by Indians and founded in 1881?
A. Oudh Commercial Bank
B. ICICI Bank
C. Allahabad Bank.
D. Andhra Bank.
Answer

Oudh Commercial Bank
nan

Que (197):
Which rural bank has been named after a river?
A. Varada Grameen Bank
B. Allahabad Bank
C. Bank of Baroda
D. Indian Overseas Bank
Answer

Varada Grameen Bank
nan

Que (198):
Unemployment occurs when workers move from one job to another job?
A. Cyclical unemployment
B. Frictional unemployment
C. Structural unemployment
D. none of these
Answer

Frictional unemployment
nan

Que (199):
Which type of unemployment mostly found in India?
A. Structured
B. Cyclical
C. Disguised
D. none of these
Answer

Disguised
nan

Que (200):
From which sector does the highest sector wise contribution to gross domestic saving comes?
A. Agricultural sector
B. Automobile sector
C. Banking sector
D. Household sector
Answer

Household sector
nan

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