Indian Economy MCQ Practice Set Questions Answers – Series 6
1)Which one of the following companies has started a rural marketing network called ‘e-chaupals’?
c) Proctor and Gamble
d) Hindustan Lever
2) ‘Eco Mark’ is given to the Indian products that are
a) pure and unadulterated
b) rich in proteins
c) environment friendly
d) economically viable
3) Word Bull and Big are associated with which branch of commercial activity?
(a) Foreign Trade
(c) Share Market
4) Among the following, which one is not a credit rating agency operating in India?
(c) Dow Jones
5) NABARD was established on the recommendation of which of the following?
a) public Account Committee
b) Shivaraman Committee
c) Narsimham Committee
d) Tendulkar Committee
6) Which of the following is not a part of machinery that settles industrial disputes?
a) Concialiation Officers
b) Board of Concialiation
c) Wage Courts
d) Works Committee
7) A tax Which is paid by the person on whom the tax is incident is called a :
(a) local tax
(b) indirect tax
(c) direct tax
8) Consider the following statements:
In India, stamp duties on financial transactions are:
1. levied and collected by the State Government
2. appropriated by the Union Government
Which of the statements is/are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) Neither 1 nor 2
9) What is the main source of revenue to meet different expenditures?
(a) Excise duties
(b) Customs duties
(c) Internal borrowings
(d) Income tax
10) Which industry in India was worst affected because of the partition?
(a) Paper and Iron
(b) Jute and Cotton
(c) Cotton and Sugar
(d) Engineering and Cement
11) Arbitrage implies:
(a) practice of taking advantage of rice difference in two markets
(b) the practice of under invoicing exports
(c) the practice of dumping viz., selling goods in a foreign market cheaper than the home market
(d) the practice of over-invoicing imports
12) Which of the following was formed to suggest means for eradicating black money?
(a) Finance Commission
(b) Sarkaria Commission
(c) Shah Commission
(d) Chelliah Committee
13) Regarding the International Monetary Fund, which one of the following statements is correct?
(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
14) Which of the following is NOT a program / agency of the Union Ministry of Finance?
a) Investor Education and Protection Fund (IEPF)
b) National Foundation for Corporate Governance (NFCG)
c) Serious Frauds Investigation Office (SFIO)
d) Investment Commission
15) What percentage of country’s demand for natural rubber is met by indigenous production:
16) In which one of the following countries is Rupee its currency?
17) Sickness of small units can be because of the factors:
1. under-utilization of capacity
2. non-payment by the large firms
3. dependence on borrowed funds
4. lack of management expertise
(a) 1, 2 and 3
(b) 2, 3 and 4
(c) 1, 2 and 4
(d) 3 and 4
18) The National Income is more at current prices than at constant prices because:
(a) increase in price is equal to increase in production
(b) increase in price is more than production
(c) increase in production is more than increase in price
(d) of decrease in production only
19) Which of the following bodies finalises the Five Year Plan proposals?
(a) Planning Commission
(b) Union Cabinet
(c) National Development Council
(d) Ministry of Planning
20) For regulation of the Insurance Trade in the country the Government has formed:
(b) Reserve Bank of India
(c) Insurance Regulatory and Development Authority
(d) General Insurance Corporation
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