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.

41) The calculations of “Cultural command area” are used in which among the following?

(A) Prepare a plan for new crops introduction

(B) Designing an Irrigation Plan

(C) Preparation of a Land Development Plan

(D) Design the agricultural policy

Answer: B (Designing an Irrigation Plan)

42) Which among the following state has highest number of Export Oriented Units in India?

(A) Uttar Pradesh

(B) Maharashtra

(C) Karnataka

(D) Andhra Pradesh

Answer: C (Karnataka)

43) Which among the following agency is responsible for enforcement of Foreign Exchange Management Act 1999 and Prevention of money Laundering Act 2002 in India?

(A) Reserve Bank of India

(B) Department of Revenue

(C) Enforcement Directorate

(D) Income Tax Department

Answer: C (Enforcement Directorate)

44) In context with the Balance of Payments, the Merchandise exports, which refer to sale of goods abroad belong to which among the following?

(A) Credit Entry in the Current Account

(B) Debit Entry in the Current account

(C) Credit entry in the Capital Account

(D) Debit entry in the Capital Account

Answer: A (Credit Entry in the Current Account)

45) In which year Liberalized Exchange Rate Management System (LERMS) was launched in India?

(A) 1991

(B) 1990

(C) 1992

(D) 1995

Answer: C (1992)

46) In context with the banking, Intermediation cost refers to which among the following?

(A) Payments to and provisions for employees

(B) Total operating expenses

(C) Total non-interest expenses

(D) None of them

Answer: B (Total operating expenses)

47) In bank group-wise classification, IDBI Bank Ltd has been included in which among the following?

(A) Nationalized Banks

(B) Private Sector Banks

(C) Foreign Banks

(D) None of them

Answer: A (Nationalized Banks)

48) In context with the Capital Adequacy Ratio of 9%, if a bank has lent Rs. 100, the Bank must have a capital base of at least which among the following amounts?

(A) Rs. 90

(B) Rs. 109

(C) Rs. 91

(D) Rs. 9

Answer: D (Rs. 9)

49) Which among the following was the first Government Company to be privatized in India?

(A) Hotel Corporation of India

(B) Rashtriya Chemicals & Fertilizers Ltd

(C) MarutiUdyog Limited

(D) Modern Foods Industries Limited

Answer: C (MarutiUdyog Limited)

50) Bonds issued by NABARD have the following risk weight assigned to them?

(A) 1%

(B) 2.5%

(C) 15%

(D) 25%

Answer: B (2.5%)

51) Which among the following refer to the “Statement of Financial Position” as per the Financial Statements released under IFRS?

(A) Balance Sheet

(B) Income Statement

(C) Profit and Loss Statement

(D) Fund Flow Statement

Answer: A (Balance Sheet)

52) The term “Golden Revolution” is most closely related to which of the following missions?

(A) National Bamboo Mission

(B) National Horticulture Mission

(C) National Mission on Clean Coal Technologies

(D) National Solar Mission

Answer: B (National Horticulture Mission)

53) In which year, Corporate Debt Restructuring (CDR) scheme was launched in India with an objective of ensuring timely and transparent mechanism for restructuring the corporate debts of viable entities facing problems?

(A) 2000

(B) 2001

(C) 2002

(D) 2003

Answer: B (2001)

54) Which of the following is used to denote broad money?

(A) M1

(B) M2

(C) M3

(D) M4

Answer: C (M3)

55) Which among the following is a qualitative tool of monetary policy?

(A) Bank Rate

(B) Credit Ceiling

(C) Credit rationing

(D) Cash Reserve Ratio

Answer: C (Credit Rationing)

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