September 29, 2023

Indian Economy Quiz:

What is true about economic development?
I. It is a continuous process
II. It measures both the quantitative and qualitative aspects of change in national income
III. It is a long-term process
Mark the correct code:
  • (A) I only
  • (B) II and III
  • (C) III only
  • (D) I, II, and III
What is true regarding national income at constant prices?
  • (A) If goods and services produced in a year are valued at the prices of the base year, we get national income at constant prices
  • (B) It is also called real national income
  • (C) It is better method of measuring national it takes into consideration changes in physical output while ignoring prices factor
  • (D) All of the above
Which of the following statement is true with regard to negative impact of Green Revolution in India?
I. The Green Revolution was crop specific and region specific, and created interpersonal and regional inequalities.
II. The use of HYV seeds displaced indigenous species and agricultural system that had been built up over generations.
III. The in-migration of labor is believed to have depressed wage rate of labor in Punjab.
Mark the correct code:
  • (A) I, II, and III
  • (B) II and III
  • (C) I and II
  • (D) Only III
If the tax rate increases with the higher level of income, it is called
  • (A) Progressive tax
  • (B) Proportional tax
  • (C) Lumpsum tax
  • (D) Regressive tax
What is true about Green Revolution in India?
I. Green Revolution was launched in the Rabi season of 1966.
II. M.S. Randhawa is called the father of Green Revolution in Punjab.
Mark the correct code:
  • (A) None of the above
  • (B) Only I
  • (C) I and II
  • (D) Only II
Consider the following reports:
I. Global Financial Stability Report
II. World Economic Outlook
III. World Governance Indicators
Which of the above is/are published  by IMF?
  • (A) I and II
  • (B) I, II, and III
  • (C) II only
  • (D) I only
Which of the following is a form of hidden inflation and is also referred to as package downsizing?
  • (A) Stagflation
  • (B) Skewflation
  • (C) Shrinkflation
  • (D) Core inflation
With reference of the ‘Banks Board Bureau (BBB)’, which of the following statements are correct? (UPSC 2022)
1.The Governor of RBI is the Chairman of BBB.
2. BBB recommends for the selection of heads for Public Sector Banks.
3. BBB helps the Public Sector Banks in Developing strategies and capital raising plans.
Select the correct answer using the code given below:
  • (A) 1 and 2 only
  • (B) 2 and 3 only
  • (C) 1 and 3 only
  • (D) 1, 2 and 2
Match List 1 and List 2 and choose the correct answer
LIST 1 A. Pink revolution List 2 1) Meat
List 1 B. Silver revolution List 2 2) Egg
List 1 C. Brown revolution List 2 3) Horticulture
List 1 D. Golden revolution List 2 4) Cocoa
  • (A) A-2 , B-3 , C-1, D-4
  • (B) A-1 , B-2 , C-4, D-3
  • (C) A-3 , B-4 , C-2, D-1
  • (D) A-4 , B-1 , C-3, D-2
Consider the following statement:
I. Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies.
II.India's Forex Reserve include Foreign Currency Assets and Gold reserves only.
Which of the above statement is/are correct?
  • (A) I and II
  • (B) Only I
  • (C) Only II
  • (D) None of the above

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