Important Questions in Economy

Here are few important questions which can be asked in the examination.

Question 1: In which year first five year plan was launched?

  • 1951
  • 1950
  • 1952
  • 1953

Answer: 1951

Question 2: On which rate RBI provides loan to the scheduled commercial banks?

  • Repo Rate
  • Reverse Repo Rate
  • Bank rate
  • Credit Rate

Answer: Bank Rate

Question 3: Interest rate policy is a part of which of the following?

  • Fiscal Policy
  • Monetary Policy
  • Industrial Policy
  • All the above

Answer: Monetary Policy

Question 4: Which of the following is an anti-inflationary measure?

  • Stagflation
  • Hyperinflation
  • Disinflation
  • Deflation

Answer: Disinflation

Question 5: The maximum number of which of the following is owned by Public Sector?

  • Textile Units
  • Oil Refineries
  • Sugar Mills
  • Software Units

Answer: Oil Refineries

Question 6: Which of the following is not included in the factor of production?

  • Capital
  • Labour
  • Tax
  • Land

Answer: Tax

Question 7: In India monetary policy is formed by:

  • State Bank of India
  • Central Government
  • Other Banks
  • Reserve Bank of India

Answer: Reserve Bank of India

Question 8: What is the tagline of UCO Bank?

  • Honours your trust
  • Faithful and friendly
  • Good people to bank with
  • Where every individual is committed

Answer: Honours your trust

Question 9: GST council is headed by?

  • Union Finance Minister
  • CAG
  • RBI Governor
  • Prime Minister

Answer: Union Finance Minister

Question 10: Which of the following is not a primary activity?

  • Agriculture
  • Construction
  • Mining
  • Fishing

Answer: Construction

Question 11: How many languages are there in the Indian Currency Note?

  • 12
  • 17
  • 15
  • 10

Answer: 15

Question 12: Which central agency issues currency notes on behalf of central government?

  • IRDA
  • SEBI
  • Reserve Bank of India
  • State Bank of India

Answer: Reserve Bank of India

Question 13: The situation in an economy where the unemployment is prevailing?

  • Galloping Inflation
  • Stagflation
  • Hyperinflation
  • Individual Debt

Answer: Stagflation

Question 14: Which of the following monetary policy tool is used by RBI to control inflation?

  • Fiscal Drag
  • Parsimoniousness Measures
  • Repo Rate
  • Fiscal Boost

Answer: Repo Rate

Question 15: If RBI increases Repo Rate, then what may be its impact in the economy?

  • Inflation will decrease
  • Inflation will increase
  • Reverse Repo rate will decrease
  • Credit will be cheaper

Answer: Inflation will decrease

Question 16: How many members are there in the Indian Monetary Policy Committee?

  • 6
  • 5
  • 21
  • 3

Answer: 6

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