Indian Economy MCQ | Part -3 | Quickbytes

Learn and Practice Indian Economy MCQ and Quiz . QuickBytes Indian Economy MCQ and Quiz Part 3 is for students to prepare interviews, competitive examinations, and entrance tests.

1. First Five-year plan was launched in which year?


2. Which five-year plan was based on P.C Mahalanobis Model?


3. When India devalued rupee for the first time?


4. Which five-year plan aimed at achievement of self-reliance?


5. Who is the chairperson of Central Board of Indirect Taxes and Customs?

M. Ajit Kumar
Nirmala Sitharaman
Arun Jaitley
Prashant Bhushan

6. How much FDI is allowed in agriculture?


7. Facebook has launched which cryptocurrency ahead of 2021 launch?

Diem Dollar

8. What do you mean by term “Inflation”?

Purchasing power of currency increases
Purchasing power of currency decreases
No effect on purchasing power of currency
None of the above

9. Who wrote the book “Wealth of nations”?

1. J.M Keynes
2. Friedman
3. Adam Smith
4. Alfred Marshall

10. What causes “Inflation” rate to decrease?

Reduction in government spending
Increase in government spending
Reduction in repo rate
All of the above

11. What do you mean by term “Hyperinflation”?

Price of goods and services rise more than 10% in a month
Price of goods and services rise more than 30% in a month
Price of goods and services rise more than 50% in a month
Price of goods and services rise more than 70% in a month

12. Who is the president of “World Bank”?

1. Kristalina Georgieva
2. David Malpass
3. John Keynes
4. Harry Dexter White

13. What is the validity of electoral bonds from the date of issuance?

15 days
30 days
45 days
60 days

14. What type of body is Central Information Commission?

Constitutional Body
Statutory Body
None of the above

15. Who wrote the book “Why government is the problem”?

Adam Smith
J.M Keynes
Milton Friedman
Karl Marx

16. Which committee recommended to set up Bank Boards Bureau?

P.J Nayak
K. Kasturirangan
Bimal Jalan
C. Rangarajan

17. Economic and Social Planning comes under which list?

State list
Concurrent list
Union List
Not specified in any list

18. NITI Aayog replaced which body?

Law Commission
Finance Commission
Planning Commission
None of the above

19. Who recommended the system of decentralization?

1. Jawahar Lal Nehru
2. Balwant Rai Mehta
3. Ashok Mehta
4. J.B Kripalan

20. When India had first plan holiday?

1. After Independence 1947
2. After the China-India war 1962
3. After the drought of 1966
4. After the India Pakistan war 1965

21. Who was the first chairman of Planning Commission?

Indira Gandhi
Sardar Vallabhbhai Patel
Jawahar Lal Nehru
JB Kripalani

22. What do you mean by “Closed Economy”?

The money supply is fully controlled
Only exports take place
Only imports take place
Neither exports nor imports take place

23. Disguised Unemployment in India is related to which sector?


24. What do you mean by Poverty Gap?

the difference between poverty line and actual income levels of all those living below that line
gap between the rich and the poor
gap between developed nations and developing nations
gap in infrastructural facilities between developed and developing nations

25. What is the objective of Antyodaya program?

1. Uplift the middle class
2. Uplift the poor
3. Uplift the farmer
4. Uplift the urban poor