790+ Indian Economy Solved MCQs

These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration (BBA) , Bachelor of Arts (BA) , Bachelor of Arts in Economics (BA Economics) , Union Public Service Commission (UPSC) .

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551.	Special Drawing Rights (SOR) facility is available at : [SSC Graduate 2003]
A.	International Monetary Fund (IMF)
B.	World Bank (IBRD)
C.	International Development Association (lDA)
D.	Organisation of Economic Cooperation and Development (OECD)
Answer» A. International Monetary Fund (IMF)

552.	PIIGS is the group of nations falling under........ [RBI Grade B Officer 2011]
A.	Euro zone
B.	Asia Pacific
C.	SAARC
D.	NATO
Answer» A. Euro zone

553.	As we all know rise of the 'BRICS' has left a vast impact on almost all aspects of the global economy. However, which of the following cannot be called as the direct effect(s) of 'Rise of the BRICS' on global/other powerful economy/ economies? [Punjab & Sindh Bank 2011] (A) Countries like China wish to learn more about outsourcing from India. (B) It has made countries to suffer from Sub-prime Crisis. (C) EURO has become a powerful currency and many non-Euro countries are in 'Swap Agreement' with various nations.
A.	Only A
B.	Only B
C.	Only C
D.	None of these
Answer» D. None of these

554.	Very often we read about the Doha Ministerial Conference 2001 in reference to WTO negotiations. What were the major issues over which nations were of different opinions? [Punjab & Sindh Bank 2011] (A) Providing subsidy to agriculture. (B) Export of patented drugs/medicines by developed nations. (C) Restriction on natural movement of people from one nation to other.
A.	Only A
B.	Only B
C.	Only C
D.	Both A and C
Answer» A. Only A

555.	Which of the following names/terms is NOT associated with the World Trade Organization (WTO)? [Punjab & Sindh Bank 2011]
A.	UNCTAD
B.	GATI
C.	GATS
D.	SEWA
Answer» D. SEWA

556.	The International Development Association, a lending agency, is administered by the [IAS 2010]
A.	International Bank for Reconstruction and Development
B.	International Fund for Agricultural Development
C.	United Nations Development Programme
D.	United Nations Industrial Development Organization
Answer» A. International Bank for Reconstruction and Development

557.	Consider the following countries: 1. Brazil 2. Mexico 3. South Africa According to UNCTAD, which of the above is/are categorized as "Emerging Economies"? [IAS 2010]
A.	1 only
B.	1 and 3 only
C.	2 and 3 only
D.	1, 2 and 3
Answer» D. 1, 2 and 3

558.	Which one of the following is not related to United Nations? [IAS 2010]
A.	Multilateral Investment Guarantee Agency
B.	International Finance Corporation
C.	International Centre for Settlement of Investment Disputes
D.	Bank for International Settlements
Answer» D. Bank for International Settlements

559.	With reference to BRIC countries, consider the following statements: 1. At present, China's GDP is more than the combined GDP of all the three other countries. 2. China's population is more than the combined population of any two other countries. Which of the statements given above is/are correct? [IAS 2010]
A.	1 only
B.	2 only
C.	Both 1 and 2
D.	Neither 1 nor 2
Answer» A. 1 only

560.	Which one among the following is not a clause of World Trade Organization? [CDS 2012]
A.	Most favoured nation. treatment
B.	Lowering trade barriers with negotiations
C.	Providing financial support to the countries having deficit balance of payments
D.	Discouraging unfair trade practices such as antidumping and export subsidies
Answer» C. Providing financial support to the countries having deficit balance of payments

561.	Many a times, we read about Special Drawing Right (SDR) in newspapers. As per its definition. SDR is a monetary unit of the reserve assets of which of the following organizations/agencies? [SBI PO 2010]
A.	World Bank
B.	International Monetary Fund (IMF)
C.	Asian Development Bank
D.	Reserve Bank of India
Answer» B. International Monetary Fund (IMF)

562.	Regarding the International Monetary Fund, which one of the following statements is correct? [CSAT 2011]
A.	It can grant loans to any country
B.	It can grant loans to only developed countries
C.	It grants loans to only member countries
D.	It can grant loans to the central bank of a country
Answer» C. It grants loans to only member countries

563.	The G-8countries include: 1. France 2. Germany 3. Canada 4. Italy 5. Netherlands 6. U.K. 7. U.S. 8. Russia 9. Japan
A.	1,2,3,4,6,7,8,9
B.	1,2,4,5,6,7,8,9
C.	1,2,3,4,6,7,8,9
D.	1,2,3,4,5,6,7,9
Answer» C. 1,2,3,4,6,7,8,9

564.	Human Development Index comprises literacy rates, life expectancey at birth and: [IAS 1997]
A.	gross domestic product per head in the US dollars
B.	gross domestic product per head at real purchasing power
C.	gross national product in US dollars
D.	national income per head in US dollars
Answer» B. gross domestic product per head at real purchasing power

565.	Which one of the following is not a member of Organization of the Petroleum Exporting Countries (OPEC)? [Asstt Comm 2008]
A.	Algeria
B.	Brazil
C.	Ecuador
D.	Nigeria
Answer» B. Brazil

566.	The earlier name of the WTO was:
A.	UNIDO
B.	UNCTAD
C.	OECD
D.	GATT
Answer» D. GATT

567.	The World Bank and IMF gives respectively:
A.	long term and short term credits
B.	short term and long term credits
C.	both long term credits
D.	both short term credits
Answer» A. long term and short term credits

568.	Which of these are nicknamed 'Bretton Woods Twins' ? 1. IDA 2. IMF 3. IBRD 4. WTO
A.	1and 4
B.	2and 4
C.	3 and 4
D.	2 and 3
Answer» D. 2 and 3

569.	Which country is the largest debtor of UNO?
A.	India
B.	Mexico
C.	Japan
D.	U.S.
Answer» D. U.S.

570.	Which of the following pairs are correctly matched? 1. Dow Jones: New York 2. Hang Seng: Seoul 3. FTSE-100:London Select the correct answer using the codes given below: [IAS 1998]
A.	1, 2 and 3
B.	2 and 3
C.	1 and 2
D.	1 and 3
Answer» D. 1 and 3

571.	Low productivity of agriculture in India is not caused by:
A.	inadequate availability of inputs
B.	subdivision of land holdings
C.	less area under cultivation
D.	poor finance facilities
Answer» C. less area under cultivation

572.	The per capita foodgrains consumption:
A.	has fallen steadily over the years
B.	has fluctuated
C.	has remained stagnant
D.	has risen very slowly
Answer» D. has risen very slowly

573.	Highest milk producer in India is :
A.	U.P.
B.	Gujarat
C.	Punjab
D.	Haryana
Answer» A. U.P.

574.	GDR means:
A.	'gross domestic ratio' which is a macro aggregate
B.	'global depository receipt' which is the mechanism to raise funds from international market
C.	'global development range' which has been set up by UNO for developing countries
D.	'geographically developed regions' as defined by the UNDP
Answer» B. 'global depository receipt' which is the mechanism to raise funds from international market

575.	The Green Revolution has led to : 1. spurt in all foodgrains production 2. increase in regional inequalities 3. reduction in inter-personal inequalities within a region 4. good production in wheat
A.	1 and 3
B.	1, 2 and 3
C.	2, 3 and 4
D.	2 and 4
Answer» D. 2 and 4

790+ Indian Economy Solved MCQs

Special Drawing Rights (SOR) facility is available at : [SSC Graduate 2003]

PIIGS is the group of nations falling under........ [RBI Grade B Officer 2011]

Which of the following names/terms is NOT associated with the World Trade Organization (WTO)? [Punjab & Sindh Bank 2011]

The International Development Association, a lending agency, is administered by the [IAS 2010]

Consider the following countries: 1. Brazil 2. Mexico 3. South Africa According to UNCTAD, which of the above is/are categorized as "Emerging Economies"? [IAS 2010]

Which one of the following is not related to United Nations? [IAS 2010]

Which one among the following is not a clause of World Trade Organization? [CDS 2012]

Many a times, we read about Special Drawing Right (SDR) in newspapers. As per its definition. SDR is a monetary unit of the reserve assets of which of the following organizations/agencies? [SBI PO 2010]

Regarding the International Monetary Fund, which one of the following statements is correct? [CSAT 2011]

The G-8countries include: 1. France 2. Germany 3. Canada 4. Italy 5. Netherlands 6. U.K. 7. U.S. 8. Russia 9. Japan

Human Development Index comprises literacy rates, life expectancey at birth and: [IAS 1997]

Which one of the following is not a member of Organization of the Petroleum Exporting Countries (OPEC)? [Asstt Comm 2008]

The earlier name of the WTO was:

The World Bank and IMF gives respectively:

Which of these are nicknamed 'Bretton Woods Twins' ? 1. IDA 2. IMF 3. IBRD 4. WTO

Which country is the largest debtor of UNO?

Which of the following pairs are correctly matched? 1. Dow Jones: New York 2. Hang Seng: Seoul 3. FTSE-100:London Select the correct answer using the codes given below: [IAS 1998]

Low productivity of agriculture in India is not caused by:

The per capita foodgrains consumption:

Highest milk producer in India is :

GDR means:

The Green Revolution has led to : 1. spurt in all foodgrains production 2. increase in regional inequalities 3. reduction in inter-personal inequalities within a region 4. good production in wheat

The success of the Green Revolution does not require:

NAFED is concerned with: 1. promotion of inter-state and export trade of farm produce 2. import of foodgrains for buffer stocking and public distribution 3. marketing of eggs and poultry' at national level 4. movement of consumer goods from surplus areas to scarcity areas

The 'Year of Great Divide' refers to:

The increase in agricultural production is due to: 1. increase in area under crops 2. improvement in yield 3. improvement in cropping pattern 4. effective implementation of land reforms

In India the co-operative movement was initiated in the sector of :

The ideal average NPK ratio aggregated for the country as a whole is :

Which neighbouring country has objections on Indian Baglihar Hydro-electric Project?

Oil Pool Deficit is a deficit: 1. in the balance of payments 2. that the government owes to the world bank 3. in the oil pool account 4. that the government owes to the oil companies Choose your answer from:

Who among the following have been the Union Finance Ministers of India? 1. V. P. Singh 2. R. Venkataraman 3. Y. B. Chavan 4. Pranab Mukherjee Select the correct answer using the code given below: [IAS 2007]

Which one of the following is the correct sequence in the decreasing order of production (in million tonnes) of the given foodgrains in India? [IAS 2007]

In which one of the following countries, the rate of Income Tax is highest? [Punjab & Sindh Bank 2011]

Which of the following is NOT a programme / agency of the Union Ministry of Finance? [Punjab & Sindh Bank 2011]

Labour legislations in India have an important dimension of protection of women from exploitation. Some special provisions are made for women in the work place. Which of the following is NOT one such special provision? [Punjab & Sindh Bank 2011]

Many a times we read about the priority sector in newspapers. Which of the following is/are considered segment(s) of Priority Sector in India? [Punjab & Sindh Bank 2011] (A) Agriculture (B) Small Scale Industry (C) Textile Industry

Ever greening of patents is done by [CDS 2011]

In which one of the following activities percentage share of cooperative sector is the highest? [Corporation Bank PO 2011]

In India, which of the following is regulated by the Forward Markets Commission? [IAS 2010]

Which of the following is/are commodity/ies on which subsidy is given to farmers/poor in India? [SBI Ass PO 2011] (A) Fertilizer (B) Kerosene (C) LPG

A person returning from abroad can retain foreign currency up to what period? [Haryana Gr Bank PO 2011]

Which one of the following is different from the others from the point of view of ownership? [UP PCS 2011]

The main source of fund for the National Highway Authority of India is [UP PCS 2011]

More than one-third of the crude steel production of the world comes from [UP PCS 2011]

Which of the following is wrongly matched?

Why is agricultural productivity in India low both on the basis of per worker and per hectare of land? 1. pressure of population on land 2. large landholdings in few hands 3. high capital base 4. dominance of subsistence farming

Consider the following countries:
1. Brazil
2. Mexico
3. South Africa
According to UNCTAD, which of the above is/are categorized as "Emerging Economies"? [IAS 2010]

The G-8countries include:
1. France
2. Germany
3. Canada
4. Italy
5. Netherlands
6. U.K.
7. U.S.
8. Russia
9. Japan

Which of the following pairs are correctly matched?
1. Dow Jones: New York
2. Hang Seng: Seoul
3. FTSE-100:London
Select the correct answer using the codes given below: [IAS 1998]

The Green Revolution has led to :
1. spurt in all foodgrains production
2. increase in regional inequalities
3. reduction in inter-personal inequalities within a region
4. good production in wheat

NAFED is concerned with:
1. promotion of inter-state and export trade of farm produce
2. import of foodgrains for buffer stocking and public distribution
3. marketing of eggs and poultry' at national level
4. movement of consumer goods from surplus areas to scarcity areas

The increase in agricultural production is due to:
1. increase in area under crops
2. improvement in yield
3. improvement in cropping pattern
4. effective implementation of land reforms

Oil Pool Deficit is a deficit:
1. in the balance of payments
2. that the government owes to the world bank
3. in the oil pool account
4. that the government owes to the oil companies
Choose your answer from:

Who among the following have been the Union Finance Ministers of India?
1. V. P. Singh
2. R. Venkataraman
3. Y. B. Chavan
4. Pranab Mukherjee
Select the correct answer using the code given below: [IAS 2007]

Many a times we read about the priority sector in newspapers. Which of the following is/are considered segment(s) of Priority Sector in India? [Punjab & Sindh Bank 2011]
(A) Agriculture
(B) Small Scale Industry
(C) Textile Industry

Why is agricultural productivity in India low both on the basis of per worker and per hectare of land?
1. pressure of population on land
2. large landholdings in few hands
3. high capital base
4. dominance of subsistence farming

576.	The success of the Green Revolution does not require:
A.	adequate irrigation facilities
B.	availability of high yielding seeds
C.	pesticides and chemical fertilizers
D.	large scale mechanization
Answer» D. large scale mechanization

577.	NAFED is concerned with: 1. promotion of inter-state and export trade of farm produce 2. import of foodgrains for buffer stocking and public distribution 3. marketing of eggs and poultry' at national level 4. movement of consumer goods from surplus areas to scarcity areas
A.	1 and 2
B.	1, 2 and 3
C.	3 and 4
D.	1, 3 and 4
Answer» D. 1, 3 and 4

578.	The 'Year of Great Divide' refers to:
A.	rapid growth rate in population after 1921
B.	the declining sex ratio after 1921
C.	the slow-down in death rate after 1921
D.	all the above
Answer» A. rapid growth rate in population after 1921

579.	The increase in agricultural production is due to: 1. increase in area under crops 2. improvement in yield 3. improvement in cropping pattern 4. effective implementation of land reforms
A.	1 and 3
B.	1 and
C.	1, 2 and 3
D.	1, 2, 3 and 4
Answer» C. 1, 2 and 3

580.	In India the co-operative movement was initiated in the sector of :
A.	farming
B.	consumer goods production
C.	agricultural credit
D.	marketing of agricultural products
Answer» C. agricultural credit

581.	The ideal average NPK ratio aggregated for the country as a whole is :
A.	4 : 2 : 1
B.	2 : 4 : 1
C.	4 : 1 : 2
D.	4 : 3 : 2
Answer» A. 4 : 2 : 1

582.	Which neighbouring country has objections on Indian Baglihar Hydro-electric Project?
A.	Nepal
B.	Bhutan
C.	Bangladesh
D.	Pakistan
Answer» D. Pakistan

583.	Oil Pool Deficit is a deficit: 1. in the balance of payments 2. that the government owes to the world bank 3. in the oil pool account 4. that the government owes to the oil companies Choose your answer from:
A.	1 and 3
B.	2 and 3
C.	3 and 4
D.	2 and 4
Answer» C. 3 and 4

584.	Who among the following have been the Union Finance Ministers of India? 1. V. P. Singh 2. R. Venkataraman 3. Y. B. Chavan 4. Pranab Mukherjee Select the correct answer using the code given below: [IAS 2007]
A.	1, 2 and 3 only
B.	1, 3 and 4 only
C.	2 and 4 only
D.	1, 2, 3 and 4
Answer» D. 1, 2, 3 and 4

585.	Which one of the following is the correct sequence in the decreasing order of production (in million tonnes) of the given foodgrains in India? [IAS 2007]
A.	Wheat - Rice Pulses Coarse cereals
B.	Rice – Wheat cereals
C.	Wheat - Rice - Coarse cereals Pulses
D.	Rice - Wheat - Coarse cereals Pulses
Answer» D. Rice - Wheat - Coarse cereals Pulses