Chapter Quiz

Economy

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Question 1

Who first used the term 'Macro Economics'?

Question 2

Who propounded the theory of Opportunity Cost in Economics?

Question 3

Net National Product (NNP) = ?

Question 4

Who first attempted to calculate India's National Income and Per Capita Income?

Question 5

According to the standard census definition, how many days must a person work in a year to be classified as a 'Main Worker' in India?

Question 6

The concept of Disguised Unemployment was given by which economist?

Question 7

The National Poverty Line for rural areas in India for 2011–12 (as per Tendulkar Committee) was fixed at how much per person per month?

Question 8

The Lorenz Curve is used to show which of the following?

Question 9

GST (Goods and Services Tax) was implemented in India through which Constitutional Amendment?

Question 10

Value Added Tax (VAT) was first introduced in India from which date?

Question 11

On which date was the Reserve Bank of India established?

Question 12

Who was the first Indian Governor of the Reserve Bank of India?

Question 13

NABARD was established on which date and on the recommendation of which committee?

Question 14

In a Regional Rural Bank, what percentage share does the Central Government hold?

Question 15

In which year did RBI adopt the Rupee symbol (₹)?

Question 16

The first phase of bank nationalisation in India took place on which date, and how many banks were nationalised?

Question 17

M3 (Broad Money) in India is equal to which of the following?

Question 18

BSE (Bombay Stock Exchange) was established in which year and is the oldest stock exchange of which region?

Question 19

IRDAI (Insurance Regulatory and Development Authority of India) was established under which Act?

Question 20

The term 'Trickle Down Theory' ignores the effect of economic growth on which of the following?

Question 21

The HDI (Human Development Index) was started in 1990 by which two economists?

Question 22

India's First Five Year Plan was started on which date?

Question 23

Which Five Year Plan was based on the Mahalanobis Model and focused on Industries?

Question 24

The PM MUDRA Yojana was started on which date and what is the maximum loan amount?

Question 25

PM Jeevan Jyoti Bima Yojana (PMJJBY) offers a life insurance cover of how much at an annual premium of ₹330?

Question 26

India's Census 2011 had which slogan and was the country's which Census?

Question 27

Which year is called the 'Year of Great Divide' in India's demographic history?

Question 28

India's first Budget was presented on which date and by which Finance Minister?

Question 29

The 14th Finance Commission recommended increasing states' share in Central tax revenue from 32% to what percentage?

Question 30

Under PL-480 scheme, India imported wheat from which country?

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