Economy

Indian Economy Question and Answer – Economic and commercial developments for competitive examinations are an important subject, especially for examinations like banks, UPSC and IAS. There are a number of questions based on Indian Economy, Monetary Policy, Agriculture, Five Year Plan, Mixed Economy, Latest Economy Current Affairs, which are here to keep you updated and get success in the interview.

1. Which of the following measures will not increase a nation’s wealth?
Question Asked : SSC CHSL (10+2) Tier-I (CBE) Exam 2017

(A) investing in new companies
(B) increasing efficiency of factories
(C) converting grasslands into orchards
(D) By redistributing taxes as subsidies

2. Government borrowing to finance budget deficits
Question Asked : SSC CHSL (10+2) Tier-I (CBE) Exam 2017

(A) will exert downward pressure on interest rates
(B) will have no effect on interest rates
(C) will increase supply of loan-able funds
(D) will put upward pressure on interest rates

3. Founded in the year 1886 by a pharmacist named John Pemberton, this product is the second most widely understood term in the world after “OK”. What is its name?
Question Asked : SSC CPO SI, ASI Online Exam 2016

(A) Aspirin
(B) ENO
(C) Coca Cola
(D) Pepsi

4. The time element in price analysis was introduced by
Question Asked : SSC CHSL (10+2) LDC, DEO & PA/SA Exam 2015

(A) J.M. Keynes
(B) Alfred Marshall
(C) J .S. Mill
(D) J.R. Hicks

5. J.B. Say’s Law of Market was not accepted by
Question Asked : SSC CHSL (10+2) LDC, DEO & PA/SA Exam 2015

(A) Adam Smith
(B) Marshall
(C) Malthus
(D) David Ricardo

6. Which of the following is not an economic activity?
Question Asked : SSC CGL Tier-I Re-Exam 2015

(A) A labourer working in a factory.
(B) A CRPF jawan guarding country’s borders.
(C) A teacher teaching his own son.
(D) A farmer tilling his own land.

7. The Liquidity Preference Theory of Interest was propounded by
Question Asked : SSC CGL Tier-I Exam 2015

(A) J.M. Keynes
(B) David Ricardo
(C) Alfred Marshall
(D) Adam Smith

8. Economies of a firm are
Question Asked : SSC CAPFs SI, CISF ASI & Delhi Police SI Exam 2015

(A) An increase in its profits
(B) A reduction in its selling expenses
(C) Its dominance of the market
(D) Saving in it’s production’ costs

9. Who defined ‘Rent’ as that portion or produce of the earth which is paid to the landlord for the use of original and indestructible power of the soil?
Question Asked : SSC CHSL (10+2) DEO & LDC Exam 2014

(A) Ricardo
(B) Marshall
(C) Keynes
(D) Pigou

10. Prof Miltion Fridman was leader of
Question Asked : SSC CGL Tier-I Exam 2014

(A) Ohio school
(B) Chicago school
(C) Cambridge school
(D) London school