Multiple Choice Questions On Economy

1     According to the 2011 Census the population of India is:

a)    1 Billion 21 Core

b)   1 Billion 2 Core

c)    1 Billion 2 Core 7 Lakh

d)   1 Billion

2     What is the approximate density of population in India?

a)    273

b)   382

c)    416

d)   216

3     The sex ratio (female per thousand males) in India in approximately:

a)    972

b)   963

c)    940

d)   993

4     The annual growth rate of population during the decade 2001 – 2011:

a)    1.64 per cent

b)   1 per cent

c)    2 per cent

d)   3 per cent

5     The principal means of transport of goods in India is:

a)    Railways

b)   Roadways

c)    Inland water ways

d)   Airways

6     Which one of the following is the most densely populated state of India?

a)    UP

b)   Bihar

c)    West Bengal

d)   Kerala

7     Which of the following states has the highest literacy rate?

a)    Kerala

b)   Arunachal Pradesh

c)    Nagaland

d)   Maharashtra

8     Which one of the following Union Territories has the highest literacy rate

a)    Pondicherry

b)   Daman and Diu

c)    Lakshadweep

d)   Chandigarh

9     Unemployment in India is due to:

a)    Poor manpower planning

b)   Population explosion

c)    Inappropriate educational system

d)   All of the above

10  The policy of family planning was adopted by the government in:

a)    1947

b)   1952

c)    1956

d)   1962

11  Which one of the following measure has been taken to modernize Indian agriculture?

a)    Area under irrigation increase

b)   High yielding variety seeds

c)    Credit and facilities to villages

d)   All of the above

12  Seasonal unemployment refers mainly to:

a)    Private sector industry

b)   Public sector industry

c)    Agriculture

d)   Banks

13  Open unemployment refers to people:

a)    Who are not willing to work

b)   Who are willing but do not get work

c)    Who leave their job in search of better ones

d)   Who have been dismissed because of incorrect practices

14  Which one of the following is not source of revenue of the Union Government?

a)    Income Tax

b)   Corporation Tax

c)    Land revenue

d)   Customs duties

15  Bank rate means:

a)    The official rate of interest charged by the Central Bank of the country

b)   Rate of profit of the banking institutions

c)    Interest rate charged by the scheduled banks

d)   Interest rate charged by the money lenders

16  Marginal revenue will be zero if the elasticity of demand is:

a)    Negative

b)   Unity

c)    Greater than one

d)   Equal to zero

17  The term ‘Market’ in Economics means:

a)    A central place

b)   Presence of competition

c)    Place where goods are stored

d)   Shops and superbazars

18  Commercial banking system in India is:

a)    Mixed banking

b)   Unit banking

c)    Branch banking

d)   None of the above

19  The gilt edged market in the capital market of India refers to

a)    Long term private securities

b)   Marketing dealing in existing securities

c)    Market for corporate securities

d)   Market for government securities

20  Which of the following yields the largest revenue to the government of India?

a)    Sales Tax

b)   Corporate Tax

c)    Income Tax

d)   Entertainment Tax

21  Sustainable agriculture means:

a)    Self – sufficiency

b)   To be able to export and import under WTO noms

c)    To utilize land so that its quality remains intact

d)   To utilize waste land for agricultural purposes

22  Which one of the following crops is the greatest beneficiary of the Green Revolution in both production and productivity?

a)    Jowar

b)   Maize

c)    Rice

d)   Wheat

23  Per capita income means:

a)    Average income of the wage earners

b)   Income necessary for an individual to meet his daily expenses

c)    Total income of the group divided by the number of the people in the group

d)   Average income of family

24  The agency estimating the national income of the India is:

a)    Planning Commission

b)   Ministry of finance

c)    RBI

d)   CSO

25  The most serious economic problems of India are:

a)    Underdevelopment, not poverty

b)   Poverty and unemployment

c)    Unemployment, not poverty

d)   Stagnation, not poverty

26  National product includes goods:

a)    Only those consumed by the producers

b)   All whether exchanged or not

c)    Both exchanged in markets and retained by producers for addition to their stock

d)   Only exchanged in markets but not those consumed by producers

27  Marginal utility is

a)    Total minus average utility

b)   Addition to the utility because of one unit increase in commodity

c)    Total utility divided by the number of units

d)   Total plus average utility

28  Demand of a commodity mainly depends on:

a)    Desire to purchase

b)   Power to purchase

c)    Tax policy

d)   Advertisement

29  Which one of the following is in the state list?

a)    Railway Police

b)   Corporation Tax

c)    Census

d)   Economic and Social Planning

30  In a highly developed country the relative contribution of agriculture to Gross Domestic Product is:

a)    Relatively high

b)   Relatively low

c)    The same as that of other sector

d)   Zero