Economics GK Questions & Answers: Economics Quiz

The best way to score a good score in this section is to go through as many Economics Questions and answers as well.

21) What is the upper limit of RTGS transaction in India?

(A) Rs. 25 Lakh

(B) Rs. 10 Lakhs

(C) Rs. 15 Lakhs

(D) No limit

Answer: D (No limit)

22) One of the economic laws says that as incomes increase, the proportion of starchy staples in the food basket declines relative to the share of more expensive sources of calories. What this hypothesis is known as?

(A) Engel’s Law

(B) Bennet’s Law

(C) Campbell’s law

(D) Gresham’s law

Answer: B (Bennet’s Law)

23) In context with banking, what is the correct full form of ADF?

(A) Automatic Debt Function

(B) Automatic Data Function

(C) Automated Data Flow

(D) Additional Debt Finance

Answer: C (Automated Data Flow)

24) National Food Grain Movement Plan is primarily related to which among the following?

(A) Modernization of Public Distribution System

(B) Opening food grain seeds villages

(C) Development of new seed varieties of food grains

(D) All the above

Answer: A (Modernization of Public Distribution System)

25) UDYAMI helpline is for?

(A) Large capital Industries

(B) Female entrepreneur

(C) Farmers introducing technology in Farming

(D) Micro, small & medium size enterprises

Answer: D (Micro, small & medium size enterprises)

26) Which among the following correctly defines the Net Interest Income?

(A) Interest earned on investments

(B) Interest earned on advances

(C) Total interest earned on advances and investment

(D) Difference between interest earned and interest paid

Answer: D (Difference between interest earned and interest paid)

27) In which among the following types comes the Interest Rate Risk?

(A) Credit risk

(B) Market risk

(C) Operational risk

(D) All the above categories

Answer: B (Market Risk)

28) When there is an inflationary trend in the economy, what would be trend in the pricing of the Bank Products?

(A) Increasing Trend

(B) Decreasing Trend

(C) Constant Trend

(D) There is no relevance of the inflation in pricing of the Banking Products

Answer: A (Increasing Trend)

29) Which among the following is the correct character of the Foreign Exchange Markets?

(A) Foreign Exchange markets are localized markets

(B) Foreign Exchange markets are dynamic and round the clock markets

(C) Foreign Exchange markets operate within a country’s time zone

(D) Foreign Exchange markets are used only for trade related transactions

Answer: (B) Foreign Exchange markets are dynamic and round the clock markets

30) From time to time, which among the following body publishes the “Exchange Control Manual” in context with the Foreign Exchange in India?

(A) Foreign Trade Promotion Board

(B) Department of Commerce

(C) Reserve Bank of India


Answer: C (Reserve Bank of India)

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