Indian Economy Practice Question and Answer
8 Q: When the price of a commodity falls, we can expect:
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5d944a1eeef89a492b2e290d- 1The supply of it to increasefalse
- 2The demand for it to fallfalse
- 3The demand for it to stay constantfalse
- 4The demand for it to increasetrue
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Answer : 4. "The demand for it to increase"
Q: This personality is known as the Father of Economics. Can you identify him from the given options?
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5d9430d815db5f22bbeb434a- 1J.M. Keynesfalse
- 2Adam Smithtrue
- 3Abraham Maslowfalse
- 4J.K. Galbraithfalse
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Answer : 2. "Adam Smith"
Q: Which of the following activities are examples of data gathering? 3321 05b5cc601e4d2b4197774b458
5b5cc601e4d2b4197774b458- 1Counting the votes in an election to determine the next governortrue
- 2Making a pie chart showing the kinds of television sets owned by people in a sample of 1,000false
- 3Finding the mean weight of cancer patients in a studyfalse
- 4Using the results of a mathematical model to predict the next day's weatherfalse
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Answer : 1. "Counting the votes in an election to determine the next governor"
Explanation :
Answer: A) Counting the votes in an election to determine the next governor Explanation: Option A) "Counting the votes in an election to determine the next governor" is the only one where data gathering is done. In all other options, data is already collected and now analyzing of data is going on.
Q: Subsidies mean that is
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5d42afc429741f37c2549fe5- 1payment by government for purchase of goods and servicesfalse
- 2payment made by business enterprises to factors of productionfalse
- 3payment made by companies to shareholdersfalse
- 4payment made by the government to business enterprises, without buying any goods and servicestrue
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Answer : 4. "payment made by the government to business enterprises, without buying any goods and services"
Q: What is the name of the currency of Bangladesh?
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5fc219a696415e6951aefce8- 1Rupeefalse
- 2Dollarfalse
- 3Takatrue
- 4Dinarfalse
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Answer : 3. "Taka"
Q: How many member is in the GST Council of India?
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5e180c5e39d64c451b228e9c- 133true
- 234false
- 336false
- 427false
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Answer : 1. "33"
Q: Which three indicators are used in the Human Development Index (HDI)?
I. Standard of living
II. Education
III. Life expectancy
IV. Condition of environment
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5d776efba1321a5b0b596cc4- 1Only I, II & IVfalse
- 2Only I, II, & IIItrue
- 3Only I & IIfalse
- 4All of the abovefalse
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Answer : 2. "Only I, II, & III"
Q: Who is called the forerunner of liberalization of Indian economy?
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5f0830ee8e448621429ede2e- 1P. Chidambaramfalse
- 2Amartya Senfalse
- 3Dr. Manmohan Singhtrue
- 4None of thesefalse
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