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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601.	Which of the following statements regarding Indian agriculture is correct?
A.	It contributes nearly 25 per cent of the GDP
B.	India has the least area in the world under pulse crops
C.	The share of foodgrains in gross cropped area has increased since independence
D.	Agriculture accounts for twenty per cent of India's exports
Answer» A. It contributes nearly 25 per cent of the GDP

602.	Agricultural marketing in India has certain defects which do not include:
A.	inadequate transport facilities
B.	lack of standard measures and weights
C.	agricultural produce not being properly graded
D.	insufficient price incentives by the government
Answer» D. insufficient price incentives by the government

603.	The area under cultivation is declining fast in the case of:
A.	cotton
B.	sugarcane
C.	jute
D.	tea
Answer» C. jute

604.	The book Wealth of Nations' was written by:
A.	Eric Roll
B.	J.M. Keynes
C.	Adam Smith
D.	Harold Laski
Answer» C. Adam Smith

605.	Gadgil Formula refers to the allocation of:
A.	market borrowings between the States
B.	Central Plan assistance between the States
C.	tax proceeds between the States
D.	foreign aid between the Centre and States
Answer» C. tax proceeds between the States

606.	Who is regarded as the founder of the scientific Socialism? [NDA 1993]
A.	Rousseau
B.	Karl Marx
C.	Engels
D.	Lenin
Answer» B. Karl Marx

607.	What is Laissez-faire? [I. Tax & Central Excise 1989]
A.	Mixed economy
B.	Controlled economy
C.	Non-interference· of Government in economic affairs
D.	None of these
Answer» C. Non-interference· of Government in economic affairs

608.	India's economic zone extends ______ miles off its coast:
A.	100
B.	150
C.	200
D.	250
Answer» C. 200

609.	From the view of International economy, Third World implies:
A.	the developed countries
B.	the developing countries
C.	block led by U.S.A., U.K. etc.
D.	None of these
Answer» B. the developing countries

610.	World Bank is a body: [Asstt Grade 1994]
A.	of non-official, generous individuals
B.	that controls worldwide foreign exchange operations
C.	of major banks operating in different countries
D.	that gives aid to developing countries
Answer» D. that gives aid to developing countries

611.	In which one of the following countries is Rupee its currency? [IAS 2003]
A.	Bhutan
B.	Malaysia
C.	Maldives
D.	Seychelles
Answer» D. Seychelles

612.	Which of the following statements are correct? 1. Aircrafts of Air India plying between Sri Lanka and Bangladesh are a part' of domestic territory of India 2. Premises of the German embassy in Pakistan is international territory 3. A Japanese working for the WHO office located at New Delhi is a normal resident of Japan 4. An American teacher employed in the American School in India for three years is a normal resident of India
A.	1 and 2
B.	3 and 4
C.	1 and 3
D.	2 and 4
Answer» C. 1 and 3

613.	Which one of the following categories of workers is termed as cultivators? [CPO SI 2010]
A.	Those who own land and cultivate
B.	Those who lease in land and cultivate
C.	Those who cultivate the land of others
D.	Those who own land and lease in from others or institutions and cultivate
Answer» C. Those who cultivate the land of others

614.	Microfinance is the provision of financial services to people of low-income groups. This includes both the consumers and the self-employed. The service/services rendered under micro-finance is/are: 1. Credit facilities 2. Savings facilities 3. Insurance facilities 4. Fund Transfer facilities Select the correct answer using the codes given below the lists: [CSAT 2011]
A.	1 only
B.	1 and 4 only
C.	2 and 3 only
D.	1, 2, 3 and 4
Answer» D. 1, 2, 3 and 4

615.	India is regarded as a country with "Demographic Dividend". This is due to [CSAT 2011]
A.	Its high population in the age group below 15 years
B.	Its high population in the age group of 15-64 years
C.	Its high population in the age group above 65 years
D.	Its high total population
Answer» B. Its high population in the age group of 15-64 years

616.	Consider the following statements: 1. The number of post offices in India is in excess of 1.5 lakhs. 2. Bharat Sanchar Nigam Limited (BSNL) was formed in the year 1997. 3. Telecom Regulatory Authority of India (TRAI) was established in the year2000. Which of the statements given above is/are correct? [IAS 2005)
A.	1, 2 and 3
B.	1 and 2
C.	1 only
D.	3 only
Answer» C. 1 only

617.	Which' day is celebrated as 'National Consumer Right Day?
A.	24th September
B.	24th October
C.	24th November
D.	24th December
Answer» D. 24th December

618.	Which of the following gives the maximum production of edible oil?
A.	Groundnut
B.	Mustard
C.	Rapeseed
D.	Sunflower
Answer» A. Groundnut

619.	Ad Valorem means:
A.	according to value
B.	according to weight
C.	according to size
D.	according to advertisement costs
Answer» A. according to value

620.	Which State stands first in the length of roads in the country?
A.	Maharashtra
B.	Uttar Pradesh
C.	Madhya Pradesh
D.	Rajasthan
Answer» A. Maharashtra

621.	Who is the originator of Green Revolution in India?
A.	Norman E. Borlaug
B.	M.S. Swaminathan
C.	Garry Backer
D.	None of these
Answer» A. Norman E. Borlaug

622.	What is Green Gold?
A.	Tea
B.	Coffee
C.	Gold
D.	Rice
Answer» A. Tea

623.	'Conditionality' of an IMF loan to a member country stands for: [Asstt Grade 1994]
A.	interest and repayment terms of the loan
B.	an assessment of the credit worthiness of the borrower
C.	schedule of disbursement of loan installments
D.	the policy steps which the borrower country must take
Answer» D. the policy steps which the borrower country must take

624.	Which State produces maximum pulses in the country?
A.	Madhya Pradesh
B.	Uttar Pradesh
C.	Odisha
D.	Maharashtra
Answer» A. Madhya Pradesh

625.	Which state produces maximum Soyabean?
A.	Madhya Pradesh
B.	Uttar Pradesh
C.	Bihar
D.	Rajasthan
Answer» A. Madhya Pradesh

790+ Indian Economy Solved MCQs

Which of the following statements regarding Indian agriculture is correct?

Agricultural marketing in India has certain defects which do not include:

The area under cultivation is declining fast in the case of:

The book Wealth of Nations' was written by:

Gadgil Formula refers to the allocation of:

Who is regarded as the founder of the scientific Socialism? [NDA 1993]

What is Laissez-faire? [I. Tax & Central Excise 1989]

India's economic zone extends ______ miles off its coast:

From the view of International economy, Third World implies:

World Bank is a body: [Asstt Grade 1994]

In which one of the following countries is Rupee its currency? [IAS 2003]

Which one of the following categories of workers is termed as cultivators? [CPO SI 2010]

India is regarded as a country with "Demographic Dividend". This is due to [CSAT 2011]

Which' day is celebrated as 'National Consumer Right Day?

Which of the following gives the maximum production of edible oil?

Ad Valorem means:

Which State stands first in the length of roads in the country?

Who is the originator of Green Revolution in India?

What is Green Gold?

'Conditionality' of an IMF loan to a member country stands for: [Asstt Grade 1994]

Which State produces maximum pulses in the country?

Which state produces maximum Soyabean?

What percentage of country's demand for natural rubber is met by indigenous production:

Buffer stocks of foodgrains have helped the Government to achieve all but one of the following:

India is said to be in the second stage of the demographic transition because:

Which arrangement of the following would show the correct sequence of demographic transition as typically associated with economic development? 1. high birth rate with high death rate 2. birth rate with low death rate 3. high birth rate with low death rate

Which of the following statements regarding wheat production is/a reincorrect? 1. Maximum area under wheat is in Uttar Pradesh 2. Maximum production is in Uttar Pradesh 3. Highest productivity is from Haryana

The 'Uruguay Round' negotiations resulted in the establishment of: [Asstt Comm 2008]

India is a member of which of the following? 1. Asian Development Bank 2. Asia-Pacific Economic Cooperation 3. Colombo Plan 4. Organization for Economic Cooperation and Development (OECD) Select the correct answer using the code given below: [IAS 2008]

Which one of the following countries is not a member of ASEAN? [IAS 2006]

With reference to Union Government, which one of the following undertake the country-wide Economic Census? [Asstt Comm 2008]

In which year was 'Rajiv Gandlii Grameen Vidyutikaran Yojana' launched? [Asstt Comm 2008]

India is self-sufficient in production of which of the following commodities? [RBI Grade B Officer 2011]

What does S & P 500 relate to? [IAS 2008]

Which one amongst the following has the largest livestock population in the world? [IAS 2008]

Basel II relates to which one of the following? [IAS 2007]

Tarapore Committee was associated with which one of the following? [IAS 2007]

India is a:

The growth rate of Indian economy in 2012-13is:

Among the following states which has the highest PCI ?

The Gross Domestic Saving as percent of GDP in 2011-12 in Indian economy is:

Which sector is considered as the work horse of Indian economy?

According to 2011 census the rate of urbanisation in India is:

India is a member of which of the following?
1. Asian Development Bank
2. Asia-Pacific Economic Cooperation
3. Colombo Plan
4. Organization for Economic Cooperation and Development (OECD)
Select the correct answer using the code given below: [IAS 2008]

626.	What percentage of country's demand for natural rubber is met by indigenous production:
A.	80%
B.	97%
C.	86%
D.	100%
Answer» C. 86%

627.	Buffer stocks of foodgrains have helped the Government to achieve all but one of the following:
A.	solve food problem
B.	maintain Public Distribution System
C.	implement employment generation programmes
D.	provide balanced diet to masses
Answer» D. provide balanced diet to masses

628.	Consider the following statements: [IAS 2004] 1. Regarding the procurement of foodgrains, the Government of India follows a procurement target rather than an open-ended procurement policy 2. Government of India announces minimum support price only for cereals 3. For distribution under Targeted Public Distribution System (TPDS)wheat and rice are issued by the Government of India at uniform central issue prices to the States/Union Territories Which of the statements given above is/are correct?
A.	1 and 2
B.	2 only
C.	1 and 3
D.	3 only
Answer» D. 3 only

629.	Consider the following statements : [IAS 2004] India continues to be dependent on imports to meet the requirement of oilseeds in the country because: 1. farmers prefer to grow food grains with highly remunerative support prices 2. most of the cultivation of oilseed crops continues to be dependent on rainfall 3. oils from the seeds of tree origin and rice bran have remained unexploited 4. it is far cheaper to import oilseeds than to cultivate the oilseed crops Which of the statements given above are correct?
A.	1 and 2
B.	1, 2 and 3
C.	3 and 4
D.	1, 2, 3 and 4
Answer» B. 1, 2 and 3

630.	India is said to be in the second stage of the demographic transition because:
A.	both birth and death rates are high
B.	birth rate is high but -death rate is declining due to improvement in healthy services
C.	death rates and birth rates are declining sharply
D.	none of the above
Answer» B. birth rate is high but -death rate is declining due to improvement in healthy services

631.	Which arrangement of the following would show the correct sequence of demographic transition as typically associated with economic development? 1. high birth rate with high death rate 2. birth rate with low death rate 3. high birth rate with low death rate
A.	1, 2, 3
B.	1, 3, 2
C.	3, 1, 2
D.	2, 1, 3
Answer» B. 1, 3, 2

632.	Which of the following statements regarding wheat production is/a reincorrect? 1. Maximum area under wheat is in Uttar Pradesh 2. Maximum production is in Uttar Pradesh 3. Highest productivity is from Haryana
A.	1 and 3
B.	2 only
C.	1 and 2
D.	3 only
Answer» D. 3 only

633.	The 'Uruguay Round' negotiations resulted in the establishment of: [Asstt Comm 2008]
A.	NATO
B.	OECD
C.	WHO
D.	WTO
Answer» D. WTO

634.	India is a member of which of the following? 1. Asian Development Bank 2. Asia-Pacific Economic Cooperation 3. Colombo Plan 4. Organization for Economic Cooperation and Development (OECD) Select the correct answer using the code given below: [IAS 2008]
A.	1 and 3 only
B.	2 and 4 only
C.	1, 2 and 3 only
D.	1, 2, 3 and 4
Answer» A. 1 and 3 only

635.	Consider the following statements: 1. The agreement on South Asian Free Trade Area (SAFTA)came into effect from 1st December, 2005. 2. As per SAFTA agreement terms, India, Pakistan and Sri Lanka have to decrease their custom duties to the level of 0 to 5 percent by the year 2013. Which of the statements given above is/are correct? [IAS 2006]
A.	1 only
B.	2 only
C.	Both 1 and 2
D.	Neither 1nor 2
Answer» D. Neither 1nor 2