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Economics MCQ CSEET Set 1

1. Who regulates finance market in India?

(a) Ministry of finance

(b) Reserve bank of India

(c) Ministry of trade and commerce

(d) SEBI

Ans. d

2. Which of the following is a credit rating agency?

(a) CRY

(b) IBRD

(c) ICRA

(d) IRDA

Ans. c

3. The rate at which the RBI gives short term Loan to commercial banks?

(a) Bank rate

(b) Repo rate

(c) Reverse Repo Rate

(d) Prime lending rate

Ans. b

4. Launching of Sansad Adarsh Gram Yojna is related to the:

Vallabh Bhai Patel

Deen Dayal Upadhyay

Mahatma Gandhi

Jai Prakash Narayan

Ans: d

5. Which of the following two programmes are merged with MGNREGA?

SGRY & NFFWP

SGRY & SJSY

NFFWP & JRY

None of these

Ans: a

6. SIDBI stands for

(a) Small Industrial Development Banker Institute

(b) Small Industries Design Bank of India

(c) Small Industries Development Bank of India

(d) Small Innovation Development Banker's Institute

Answer: (c) Small Industries Development Bank of India

7. The one rupee note bears the signature of

(a) RBI Governor

(b) President of India

(c) Finance Minister

(d) Finance Secretary

Answer: (d) Finance Secretary

8. A Surplus budget is recommended during

(a) Depression

(b) Boom

(c) War

(d) Famines

Answer: (b) Boom

9. India's National income is measured with the help of

(a) Product method

(b) Income method

(c) Expenditure method

(d) All of the above

Answer: (d) All of the above

10. Deficit financing means that the government borrows money from the

(a) Revenue Department

(b) World bank

(c) Reserve Bank of India

(d) State Bank of India

Answer: (c) Reserve Bank of India

11. The first planning commission in India was formed in the year

(a) 1947

(b) 1950

(c) 1952

(d) 1955

Answer: (b) 1950

12. The concept of five year paln was borrowed from

(a) USA

(b) England

(c) Rusia

(d) France

Answer: (c) Rusia

13. Who is the largest trading partner of India

(a) USA

(b) China

(c) England

(d) United Arab Emirates

Answer: (b) China

14. Which one is the first finance minister who went on to become the President of India

(a) Shankar Dayal Sharma

(b) Neelam Sanjiva Reddy

(c) Fakhruddin Ali Ahmed

(d) R Venkataraman

Answer: (d) R Venkataraman

15. Recent industrial development of India is largely due to

(A) Rationalization of raw materials

(B) Availability of skilled manpower

(C) Liberalization of government policies

(D) Increase in market demand

Answer: Option C

16. Elasticity of demand is a tendency of demand to

(A) Increase or decrease on the change of price

(B) Increase on the rising of price

(C) Decrease on the falling on price

(D) Consistency of demand on rising and falling prices

Answer: Option A

17. Population Explosion in a country means

(A) High birth rate and high death rate

(B) High birth rate and low death rate

(C) Low birth rate and high death rate

(D) Low birth rate and low death rate

Answer: Option B

 18. Which of the following is a direct tax?

(a) Corporation tax

(b) Custom duty

(c) Excise duty

(d) Service tax

Ans. a

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