1.India’s trade with the East European Socialist countries can be
described as :
a) Rupee trade
b) Bilateral trade
c) Free trade
d) Barter trade
2. Stagflation is :
a) inflation with growth.
b) inflation with recession.
c) deflation with growth.
d) deflation followed by inflation.
3. What percentage of total population in India is rural
population ?
a) 55%
b) 65%
c) 75%
d) 85%
4. The highest savings is recorded by:
a) household sector.
b) private sector.
c) banking sector.
d) public sector.
5. The major source of revenue in India is through
a) direct taxes
b) indirect taxes
c) deficit financing
d) international borrowings
6. In an economy of steadily increasing prices, who will benefit
the most ?
a) businessmen
b) debtors
c) pensioners
d) salaried employees
7. The purpose of imposing tax is primarily to :
a) check accumulation of wealth
b) decrease black money
c) restrict flow of money
d) finance the government
8.Brazil’s economy mainly depends on :
a) cocoa
b) coffee
c) tea
d) tobacco
9. Gresham’s Law’ in, Economics relates to
a) supply and demand.
b) circulation of currency
c) consumptioJt and supply
d) distribution of goods and services
10.Unemployment insurance will result in :
a) the maintenance of consumption level.
b) decrease in consumption level.
c) decrease in savings
d) increase in savings.
11. In which industry in India are the maximum numbers of workers
employed?
a) sugar
b) jute
c) textiles
d) iron and steel
12. Buyers’ market denotes the place where :
a) the demand exceeds the supply.
b) the supply exceeds the demand.
c) commodities are available at competitive rates.
d) the demand and supply are well balanced.
13. A scheduled bank is a bank :
a) having Rs 1000 crores deposits.
b) included in the second schedule of the RBI Act.
c) having Rs 10 crores in deposits.
d) having Rs 100 crores in deposits.
14. Inflation is caused by:
a) increase in money supply.
b) decrease in money supply and fall in production.
c) fall in production.
d) increase in money supply and fall in production.
15. Temporary control of inflation can be effected by:
a) increasing the prices.
b) increasing the taxes.
c) restraint on the growth of money supply.
d) reducing the prices
16.India earns maximum foreign exchange by the export of:
a) tea
b) sugar
c) iron
d) jute
17. Average per capita earning is the highest in :
a) West Bengal
b) Haryana
c) Orissa
d) Gujarat
18. Which industry gives maximum employment ?
a) cotton
b) steel and iron
c) sugar
d) tea
19. Even it all alternative source to oil is found, the demand for
oil will still persist because:
a) monopoly of oil producers will go.
b) it is a feedstock of many chemical industries.
c) automobiles move on it.
d) modern people prefer oil to other energy sources.
20.Community development is organised on the basis of:
a) population
b) area
c) community
d) none of these
Answer
1.
a
2.
b
3.
c
4.
a
5.
b
6.
b
7.
d
8.
b
9.
b
10.
b
11.
c
12.
b
13.
b
14.
d
15.
c
16.
a
17.
b
18.
a
19.
b
20.
b
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