Free Test Economy – Civil S...

Q1: What does GDP stand for?

A. Gross Domestic Product B. General Development Plan C. Global Domestic Policy D. Gross Departmental Plan

Q2: Which organization releases the Consumer Price Index (CPI) in India?

A. RBI B. SEBI C. Ministry of Finance D. NSO

Q3: What is the base year for calculating GDP at constant prices in India as of 2023?

A. 2004-05 B. 2011-12 C. 2014-15 D. 2019-20

Q4: Which is not a direct tax?

A. Income Tax B. Corporate Tax C. GST D. Wealth Tax

Q5: Disinvestment refers to?

A. Buying shares of private companies B. Selling government stake in PSUs C. Borrowing from foreign banks D. Launching new public sector companies

Q6: Fiscal deficit means?

A. Total revenue – total expenditure B. Total expenditure – total revenue excluding borrowings C. Total borrowings – total lending D. Revenue deficit – capital deficit

Q7: Which index measures inflation at the wholesale level in India?

A. CPI B. IIP C. WPI D. PPP

Q8: Which body regulates the stock markets in India?

A. RBI B. SEBI C. IRDAI D. NABARD

Q9: Which of the following is part of the capital account in the Balance of Payments?

A. Export of goods B. Import of services C. FDI D. Remittances

Q10: The “Repo rate” is?

A. Rate at which RBI lends to banks B. Rate at which banks lend to RBI C. Rate of interest on savings account D. Rate of interest on PPF

Q11: Which one is not a function of the Reserve Bank of India?

A. Issuing currency B. Acting as banker to the government C. Controlling inflation directly D. Regulating foreign exchange

Q12: Which of the following is not included in M1 money supply?

A. Currency held by public B. Demand deposits C. Time deposits D. Other deposits with RBI

Q13: Which one is an objective of Monetary Policy?

A. Promote exports B. Control inflation C. Reduce fiscal deficit D. Provide employment

Q14: MSME stands for?

A. Medium Small Market Enterprises B. Micro Small and Medium Enterprises C. Macro Small Managed Entities D. Micro State Manufacturing Enterprises

Q15: Which one is an example of a public good?

A. Car B. School C. Defense D. Mobile phone

Q16: Which of the following is included in the capital budget of the government?

A. Salaries of employees B. Interest payments C. Loan disbursements D. Subsidies

Q17: Which institution publishes the Economic Survey of India?

A. NITI Aayog B. RBI C. Finance Ministry D. Parliament

Q18: “Make in India” campaign primarily aims to?

A. Boost agricultural production B. Increase domestic manufacturing C. Improve literacy rate D. Promote tourism

Q19: Which tax has been subsumed under GST?

A. Property Tax B. Excise Duty C. Income Tax D. Wealth Tax

Q20: What is the meaning of stagflation?

A. High inflation with high growth B. Low inflation with low growth C. High inflation with stagnation in growth D. Deflation with high unemployment

Quiz for Economy