Economics & Indian Economy GK Questions and Answers

GK Practice Test: Question Set - 11


1. In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?
    (A) Chemicals other than fertilizers
    (B) Services sector
    (C) Food processing
    (D) Telecommunication

2. Deficit financing leads to inflation in general, but it can be checked if
    (A) Government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
    (B) Only aggregate demand is increased
    (C) All the expenditure is denoted national debt payment only
    (D) All of the above

3. The first wholly Indian Bank was set up in
    (A) 1794
    (B) 1894
    (C) 1896
    (D) 1902

4. Revenue of the state governments are raised from the following sources, except
    (A) Entertainment tax
    (B) Expenditure tax
    (C) Agricultural income tax
    (D) Land revenue

5. Regional rural banks
    I. Has limited area of operation
    II. Have free access to liberal refinance facilities from NABARD
    III. Are required to lend only to weaker sections
    (A) I, III
    (B) II, III
    (C) I, II, III
    (D) I, II

6. The Board of Industrial and Financial Reconstruction (BIFR) came into existence in
    (A) 1984
    (B) 1986
    (C) 1987
    (D) 1989

7. How many banks were nationalized in 1969?
    (A) 16
    (B) 14
    (C) 15
    (D) 20

8. Subsidies mean
    (A) Payment by government for purchase of goods and services
    (B) Payment made by business enterprises to factors of production
    (C) Payment made by companies to shareholders
    (D) Payment made by the government to business enterprises, without buying any goods and services

9. The apex body for formulating plans and coordinating research work in agriculture and allied fields is
    (A) State Trading Corporation
    (B) Regional Rural Banks
    (C) National Bank for Agriculture and Rural Development (NABARD)
    (D) Indian Council of Agricultural Research

10. Which of the following is not an undertaking under the administrative control of Ministry of Railways?
    (A) Container Corporation of India Limited
    (B) Konkan Railway Corporation Limited
    (C) Indian Railways Construction Company Limited
    (D) Diesel Locomotive Works, Varanasi

11. Paper currency first started in India in
    (A) 1861
    (B) 1542
    (C) 1601
    (D) 1880

12. The ARDC is now a branch of the
    (A) RBI
    (B) NABARD
    (C) IDBI
    (D) SDBI

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Economics and Indian Economy:
  Set 01      Set 02      Set 03      Set 04      Set 05      Set 06      Set 07      Set 08      Set 09
  Set 10      Set 11
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