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MCQ on Indian Economy

If withdrawal of a worker from employment does not create any output loss, this situation is known as

  • Search unemployment
  • Voluntary unemployment
  • Disguised unemployment
  • Frictional unemployment
    • Correct Option: C  [ Disguised unemployment ]

    Explanation:

In India the Repo rate is announced by:

  • the Ministry of Finance, Government of India
  • the Prime Minister of India
  • the Reserve Bank of India
  • the President of India
    • Correct Option: C  [ the Reserve Bank of India ]

    Explanation:

Which of the following pairs is/are incorrectly matched?
i. Finance Commission : Constitutional of India
ii. Securities and Exchange Board of India : Statutory Body
iii. NITI Aayog : Constitutional Body
iv. Reserve Bank of India : Statutory Body
Select the correct answer using the codes given below.

  • (i) and (iii) only
  • (ii) and (iv) only
  • (iii) only
  • (iv) only
    • Correct Option: C  [ (iii) only ]

    Explanation:

Which institution in India controls the monetary policy of Indian currency?

  • Finance Commission
  • The Finance Ministry of India
  • The Reserve Bank of India
  • None of the above
    • Correct Option: C  [ The Reserve Bank of India ]

    Explanation:

Poverty is defined as:

  • A monetary condition brought about by people's own laziness
  • A monetary condition where people do not have enough to satisfy basic needs
  • A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income
  • All of the above
    • Correct Option: C  [ A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income ]

    Explanation:

Major part of the Indian agriculture is characterized by

  • Large size farm
  • Capitalist agriculture
  • Small size farm
  • Co-operative farm
    • Correct Option: C  [ Small size farm ]

    Explanation:

The LPG model of development was introduced by India since:

  • 1991
  • 1992
  • 1993
  • 1994
    • Correct Option: A  [ 1991 ]

    Explanation:

The Special Economic Zones Act was passed by the Indian Parliament in 2005 and the Act came into force in:

  • 2006
  • 2009
  • 2010
  • 2012
    • Correct Option: A  [ 2006 ]

    Explanation:

Which of the following is the main problem in the growth of agriculture sector in Tripura ?

  • About 96 per cent of the land holdings are small and marginal
  • 60 per cent of the total geographical area is forest cover
  • Two-third of the geographical area is hilly
  • All of the above
    • Correct Option: D  [ All of the above ]

    Explanation:

National Food Security Act came into effect in the year:

  • 2012
  • 2013
  • 2014
  • None of the above
    • Correct Option: B  [ 2013 ]

    Explanation:
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