Tier 1 - General Awareness - Economics

Question 1

The central bank of India is:

A. State Bank of India

B. Reserve Bank of India

C. Punjab National Bank

D. NABARD

Question 2

GDP stands for:

A. Gross Domestic Product

B. General Domestic Production

C. Gross Development Product

D. General Development Programme

Question 3

Which of the following is a direct tax?

A. GST

B. Excise Duty

C. Income Tax

D. Customs Duty

Question 4

GST was introduced in India on:

A. 1 April 2016

B. 1 July 2017

C. 1 April 2017

D. 1 January 2018

Question 5

The five-year plans in India were replaced in 2015 by:

A. NITI Aayog three-year action agendas

B. Ten-year plans

C. State-level plans only

D. Sectoral plans

Question 6

Inflation is caused by:

A. Excess of demand over supply

B. Deflationary trends

C. Only government policy

D. Foreign investment only

Question 7

NABARD is associated with:

A. Industrial development

B. Agriculture and rural development

C. Foreign trade

D. Insurance sector

Question 8

The green revolution in India is associated with:

A. M. S. Swaminathan

B. Verghese Kurien

C. C. Subramaniam

D. Both a and c

Question 9

SEBI regulates:

A. Banking sector

B. Insurance sector

C. Securities and stock markets

D. Foreign trade

Question 10

The first bank established in India was:

A. Bank of Hindustan

B. State Bank of India

C. Punjab National Bank

D. Bank of Bengal

Question 11

The Finance Commission is constituted every:

A. 3 years

B. 5 years

C. 7 years

D. 10 years

Question 12

Which sector contributes the largest share to India's GDP?

A. Agriculture

B. Industry

C. Services

D. Mining

Question 13

The Reserve Bank of India was established in the year:

A. 1935

B. 1947

C. 1949

D. 1955

Question 14

Which of the following is not a component of the Consumer Price Index?

A. Food and beverages

B. Housing

C. Fuel and light

D. Foreign direct investment

Question 15

The white revolution in India is associated with the production of:

A. Rice

B. Wheat

C. Milk

D. Cotton

Question 16

Balance of payments records:

A. Only exports of goods

B. Only imports of goods

C. All economic transactions between a country and the rest of the world

D. Only capital transactions

Question 17

Repo rate is the rate at which:

A. Commercial banks lend to customers

B. RBI lends short-term funds to commercial banks

C. Commercial banks lend to each other

D. Government borrows from the public

Question 18

The main objective of MGNREGA is:

A. Providing housing to the poor

B. Guaranteeing 100 days of wage employment to rural households

C. Free education for children

D. Health insurance for the elderly

Question 19

Which of the following is a financial market instrument?

A. Treasury Bill

B. Commercial Paper

C. Certificate of Deposit

D. All of the above

Question 20

'Poverty line' in India is determined based on:

A. Land holdings

B. Housing conditions

C. Consumption expenditure / calorie intake

D. Level of education

Question 21

Fiscal deficit is the difference between:

A. Total expenditure and total receipts of the government

B. Total expenditure and total receipts excluding borrowings

C. Revenue expenditure and revenue receipts

D. Capital expenditure and capital receipts

Question 22

The New Economic Policy of India was introduced in:

A. 1985

B. 1991

C. 1995

D. 2000

Question 23

The apex regulatory body for insurance in India is:

A. RBI

B. SEBI

C. IRDAI

D. PFRDA

Question 24

Which of the following is a scheme launched for financial inclusion?

A. PM Jan Dhan Yojana

B. PM Fasal Bima Yojana

C. PM Ujjwala Yojana

D. PM Awas Yojana

Question 25

The term 'Bull' and 'Bear' are associated with:

A. Foreign exchange market

B. Stock market

C. Commodity market

D. Real estate market

Questions

Tier 1 - General Awareness - Economics - Set 1