Indian Economy: General Knowledge Questions and Answers

Q71. Which of the following organisations publishes an annual report titled Global Competitiveness Index?

[A] International Monetary Fund

[B] World Economic Forum

[C] World Bank

[D] Asian Development Bank

Q72. The First Five Year Plan was based on___________

[A] P.C . Mahalanobis Model

[B] Herold Domar Model

[C] Both the Above

[D] None of the above

Q73. __________ refers to money that has already been spent and which cannot be recovered.

[A] Opportunity cost

[B] Sunk cost

[C] Imputed cost

[D] Replacement cost

Q74. The purchase of shares and bonds of Indian companies by Foreign Institutional Investors is called ?

[A] NRI Investment

[B] Foreign Indirect Investment

[C] FDI

[D] Portfolio Investment

550+ Indian Economy Quiz Questions & Answers

Q75. The largest proportion of federal revenues comes from

[A] excise taxes

[B] personal income taxes

[C] borrowing

[D] social insurance taxes

Q76. States earn maximum revenue through

[A] commercial taxes

[B] land revenue

[C] custom revenue

[D] excise duties

Q77. An economic condition when there is one buyer and many sellers is called

[A] Perfect Competition 

[B] Monopsony  

[C] Monopsony  

[D] Oligopoly  

Q78. As the economy develops, the share of the tertiary sector in the GDP

[A] Decrease than Increase

[B] Decrease

[C] Remain Constant

[D] Increases

Q79. Which of the following best defines Net National Income?

[A] NDP – Depreciation

[B] GNP + Depreciation

[C] GDP – Depreciation

[D] GNP – Depreciation  

Q80. Market imperfections of a country are reflected in

[A] India’s farming industry

[B] India’s dairy industry

[C] India’s mining industry

[D] India’s poultry industry