Economics MCQS for CSEET

1. In which year was the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) established?

1958

1962

1949

1957

Answer: A <1958>

Explanations :

National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) is an apex organization of marketing cooperatives for agricultural produce in India, under the Ministry of Agriculture, Government of India. It was founded on the birthday of Mahatma Gandhi on 2 October 1958 to promote the trade of agricultural produce and forest resources across the nation. NAFED headquarters in New Delhi.

2.Which of the statement is correct regarding ATMA?

ATMA is responsible for information technology dissemination at state level

Finance Minister is chairman of ATMA

It uses PSU’s to organize farmers

It aims at pilot testing new institutional arrangements for technology dissemination

Answer: D

Explanations :

Agricultural Technology Management Agency (ATMA) is responsible for technology dissemination at district level. District collector is chairman of ATMA. It uses NGO’s to organize farmers. It aims at pilot testing new institutional arrangements for technology dissemination .

3.How much carbon dioxide emissions is because of cement production?

11%

13%

7%

16%

Answer: C <7%>

Explanations :

The production of cement is a cause of 7 % of global carbon dioxide emissions. Cement’s contribution to emissions is especially immense because of the chemical process required to make it.

4. What is the export share of Indian capital goods production?

40%

43%

24%

54%

Answer: A <40%>

Explanations :

The export share of Indian capital goods production is 27%. The share of Imports in the capital goods industry is about 45%.

5. How many refineries are there in India?

19

23

26

17

Answer: B <23>

Explanations :

India has 23 refineries—18 under public sector, 3 under private sector and 2 in a joint venture. An oil refinery or petroleum refinery is an industrial process plant where crude oil is transformed and refined into more useful products such as petroleum.

6. Which type of medicines contribute maximum to the revenue of India in the previous year?

Anti infectives

Anti Biotics

Gastrointestinal

Health supplements

Answer: A

Explanations :

In the Indian domestic market by revenue, Anti-Infectives (13.6%), Cardiac (12.4%) and Gastrointestinal (11.5%) had the biggest market share.

7. What is the average export value of paper from India in the past 10 years?

545.51 million USD

324.57 million USD

457.57 million USD

645.34 million USD

Answer: A <545.51 million usd>

Explanations :

Exports of Paper & Paperboard in India averaged 545.51 USD Million from 2009 until 2019, reaching an all time high of 1430.14 USD Million in 2017.

8. By which year the government want to spend 3% of gdp on health?

2021

2022

2034

2026

Answer: B <2022>

Explanations :

The government want to spend 3% of gdp on health by 2022. It is the aim of tht govenrment according to its health mission.

9. In which country does the maximum number of films are produced?

India

Germany

USA

UK

Answer: A

Explanations :

India has the largest number of films producer in the world. The films are produced across various languages. Nigeria and USA comes at number 2 and 3.

10. What is the FDI allowed in duty-free shops under the automatic route?

100%

73%

75%

59%

Answer: A <100%>

Explanations :

100% FDI is allowed under automatic route by the Government of India in the duty-free shops.

11.

Which among the following statements is/are correct about International trade?

1. There is an increasing share of the developing countries in the world trade.

2. The lower labour costs in some of the developing countries will help them in producing goods at competitive prices.]

Select the correct code from the options given below:

Only 1

Only 2

Both 1 & 2

Neither 1 & 2

Answer: C

Explanations :

An important fact about the international trade is the increasing share of the developing countries in the world trade. These countries are emerging as important players in trade in services. The lower labour costs in some of the developing countries will help them in producing goods at competitive prices. On the whole it can be said that though the developed countries will continue to playa dominant role in the international trade in the coming decades, yet the share of the developing countries will increase.

12. Which institution launched MIBOR?

OTCEI

RBI

NSE

IBA

Answer: C

Explanations :

NSE- National Stock Exchange has launched the MIBOR for the overnight money market of India. It is used as benchmark for the deals. It was developed in 1998.

13. Which institution Manages G-Secs?

Government of India

NSE/BSE

RBI

SEBI

Answer: C

Explanations :

The central government of India as well as the state governments issues G-Secs for long term financial needs. It is the RBI which handles the G-secs for the central as well as the state government.

14. What are Mutual Funds?

Money raised to invest in Infrastructure projects

Money raised to invest in government projects.

Money raised to invest in stock market

Money pooled to invest in securities

Answer: D

Explanations :

Mutual Funds are the funds that are pooled from the public to invest in stocks, bonds etc. SEBI regulates the Mutual Funds.

15. Which among the following comes under QIPs?

1. Venture capitals

2. Mutual Funds

3. Public finance insitutions

Choose the correct option from the choices given below:

1,2 and 3

2 only

3 only

None

Answer: A <1,2 and 3 only>

Explanations :

QIP are the qualified Insitutional Placements which are registered with SEBI and can invest in Shares, Debentures and Equity. They include all the above.

16. When was Foreign Portfolio investor category introduced in India?

2015

2016

2012

2014

Answer: D <2014>

Explanations :

Foreign Portfolio investor category introduced in India in 2014. It is a class of investments that Indian firms get from abroad.

17. Which Institution mints the coins in India?

SEBI

Ministry of Finance

Reserve Bank of India

Prime Minister’s Office

Answer: B

Explanations :

RBI is responsible for the printing of currency notes. But this is not the same for coins.The work of printing one rupee note and all the minting of coins is done by the Finance Ministry.

18. Indian Airlines merged with Air India in which year?

2011

2014

2013

2012

Answer: A <2011>

Explanations :

Indian Airlines merged into Air India in 2011. Post merger, Air India became the national carrier of India.