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Quiz for Basic concepts of Economy (GDP, Inflation, etc.)

Course: Civil Services Exams UPSC, MPSC | Subject: Indian Economy | Topic: Basic concepts of Economy (GDP, Inflation, etc.)



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Q1: Which of the following best defines GDP?

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Q2: What does inflation refer to?

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Q3: Which of the following is NOT included in GDP calculation?

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Q4: Which index is commonly used to measure inflation in India?

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Q5: What is "real GDP"?

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Q6: Which sector contributes the most to India’s GDP?

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Q7: What does "deflation" mean?

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Q8: What does "monetary policy" control?

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Q9: Which of the following is NOT a tool of monetary policy?

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Q10: Which organisation publishes GDP data in India?

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Q11: GDP per capita is calculated as:

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Q12: Nominal GDP is measured at:

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Q13: Stagflation is a situation where:

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Q14: The base year for India’s GDP calculation (as of 2024) is:

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Q15: Which is a component of Aggregate Demand?

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Q16: Fiscal deficit is calculated as:

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Q17: The term "headline inflation" refers to:

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Q18: Which of the following is an example of direct tax?

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Q19: Which of the following can reduce inflation?

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Q20: Balance of payments includes:

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