MCQ’s Economy

1     What is India’s trade policy?

a)    Increase in both exports and imports

b)   Decrease in both exports and imports

c)    Neither increase nor decrease in both imports and exports

d)   Exports promotion and import substitution

2     The Center gives grants in aid to states:

a)    To augment the financial resources of the states

b)   To maintain god relations with the state

c)    To ensure balanced and quick economic growth throughout the country

d)   To ensure social justice in India

3     Mixed economy means co-existence of:

a)    Heavy industries and light industries

b)   Agrarian economy and industrialized economy

c)    The poor and the rich

d)   Public sector and private sector

4     The largest shares of Indian’s National income originated in the :

a)    Primary sector

b)   Secondary sector

c)    Territory sector

d)   None of the above

5     Which one of the following taxes is levied by the state Government only?

a)    Entertainment tax

b)   Wealth tax

c)    Income tax

d)   Corporation tax