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RRB NTPC Economics ​MCQ Questions Answers pdf

RRB NTPC Economics ​MCQ Questions Answers pdf

RRB NTPC Economics ​MCQ Questions Answers pdf

Indian Economy MCQ PDF Download

Economics Questions and Answers PDF Free download

1. Countries known as 'The Four Pacific Tiger Economies' are- 

(A) Japan, Indonesia, Hong Kong 

(B) China, Japan, Hongkong and Singapore 

(C) Singapore, Taiwan, Hong Kong and South Korea Singapore and 

(D) Indonesia, Philippines, North Korea and Japan 

Answers: (C) Singapore, Taiwan, Hong Kong and South Korea Singapore and

2. According to World Bank Report, among largest economies of the world the ranking (based on Purchasing Power Parity by GDP) of India stands at- 

(A) Second 

(B) Third 

(C) Fourth 

(D) Fifth 

Answers: (B) Third

3. Net growth-rate of population is determined by- 

(A) Gross reproduction rate 

(B) The birth-rate and the death-rate 

(C) The pressure of population 

(D) The birth-rate in a country 

Answers: (B) The birth-rate and the death-rate

4. The Human Development Index (HDI) is based on- 

(A) Life Expectancy at birth 

(B) GDP Per Capita (PPP US $) 

(C) Mean Years of Schooling 

(D) All of the above 

Answers: (D) All of the above

5. Foreign aid will- 

(A) Raise the level of investment 

(B) Be used to enlarge technical resources 

(C) Be used for building up industries 

(D) All of the above 

Answers: (D) All of the above

6. Operating surplus arises in the- 

(A) Government sector 

(B) Production for self-consumption 

(C) Subsistence farming 

(D) Enterprise sector

Answers: (D) Enterprise sector

7. The most important of the non-tariff trade barriers are- 

(A) Quotas 

(B) Health regulations 

(C) Pollution standards 

(D) Labelling and packaging regulations 

Answers: (A) Quotas

8. Investment is equal to- 

(A) Gross total of all types of physical capital assets 

(B) Gross total of all capital assets minus wear and tear 

(C) Stock of plants, machines and equip-ments 

(D) None of the above 

Answers: (B) Gross total of all capital assets minus wear and tear

9. From which of the following taxes, the Central Government gets the maximum revenue ? 

(A) Corporate Tax 

(B) Income Tax

(C) Excise Duties 

(D) Custom Duties 

Answers: (A) Corporate Tax

10. What is NABARD's primary role ? 

(A) To provide term loans to state Co-operative Banks 

(B) To assist State Governments for share capital contribution

(C) To act as refinance institution 

(D) All of the above 

Answers: (A) To provide term loans to state Co-operative Banks

11. The sale proceeds of the Government Bonds come under the budget head of- 

(A) Revenue Receipts 

(B) Current Expenditure 

(C) Capital Outlay 

(D) Capital Receipts 

Answers: (D) Capital Receipts

12. The term utility means- 

(A) Usefulness of a commodity 

(B) The satisfaction which a commodity yields 

(C) The service which a commodity is capable of rendering 

(D) None of the above

Answers: (B) The satisfaction which a commodity yields

13. Under flexible exchange rate system, the exchange rate is determined by- 

(A) The Central Bank of the Country 

(B) The forces of demand and supply in the foreign exchange market 

(C) The price of gold 

(D) The purchasing power of currencies 

Answers: (B) The forces of demand and supply in the foreign exchange market

14. The size of the market fora product refers to- 

(A) The number of people in the given area 

(B) The geographical area served by the producers 

(C) The volume of potential sales of the product 

(D) The number of potential buyers of the product 

Answers: (D) The number of potential buyers of the product

15. According to the figures released by the Reserve Bank of India, on October 7, 2016 India's amounted to- foreign exchange reserves were 

(A) $316-362 billion 

(B) $ 303-482 billion 

(C) $ 367-64 billion 

(D) $ 396-888 billion 

Answers: (C) $ 367-64 billion

16. If the percentage change in demand for a commodity is at a faster rate than percentage change in the price of the commodity then the demand is- 

(A) Perfectly inelastic 

(B) Elastic 

(C) Perfectly elastic

(D) Inelastic 

Answers: (B) Elastic

17. According to new Census 2011' data released by Government of India if all communities are taken together the percentage of country's population below 20 years is- 

(A) 63% 

(C) 28% 

(B) 27% 

(D) 41% 

Answers: (D) 41%

18. The demand for money, according to Keynes is for-

(A) Speculative motive

(B) Transaction motive 

(C) Precautionary motive 

(D) All the above motives 

Answers: (D) All the above motives

19. The Reserve Bank of India issues currency notes under the- 

(A) Fixed fiduciary system 

(B) Maximum fiduciary system

(C) Fixed minimum reserve system 

(D) Proportional reserve system 

Answers: (C) Fixed minimum reserve system

20. The fastest growing state in terms of Gross State Domestic Products (GSDP) in 2014-15 - 

(A) Uttar Pradesh 

(B) Bihar

(C) Tamil Nadu 

(D) Madhya Pradesh 

Answers: (B) Bihar

21. At present (October 7, 2016), what is the Cash Reserve Ratio (CRR) ? 

(A) 4-00% 

(B) 5-50% 

(C) 4-50% 

(D) 3-50%

Answers: (A) 4-00%

22. The 'Smart City Mission' is being implemented by- 

(A) Ministry of HRD 

(B) Ministry of Urban Development 

(C) Ministry of Housing and Urban Poverty Alleviation 

(D) Ministry of Statistic and Programmes implementation

Answers: (B) Ministry of Urban Development

23. In which crop, the premium percentage to be paid by farmers in Pradhan Mantri Fasal Bima Yojana is the highest ?

(A) Rabi Crops 

(B) Kharif Crops 

(C) Horticulture 

(D) All above percentage have equal premium 

Answers: (C) Horticulture

24. When was RBI established ? 

(A) 1949 

(B) 1955 

(C) 1934 

(D) 1935 

Answers: (D) 1935

25. The organisation which looks after the credit needs of agriculture and rural development is- 

(A) FCI 




Answers: (B) NABARD

26. Which of the following is a rural electrification scheme of government of India ? 





Answers: (B) DDUGJY

27. Minimum Support Prices for Agricultural crops are recommended by- 

(A) Ministry of Agriculture 



(D) State Govts

Answers: (B) CACP

28. The total sum of the goods and services pro- duced within a country in a year minus depreciation is called the- 

(A) Gross National Product 

(B) Net National Product 

(C) Gross Domestic Product 

(D) Net Domestic Product 

Answers: (D) Net Domestic Product

29. Who is the pioneer of Green Revolution in India ? 

(A) M. S. Swaminathan 

(B) Garry Backey 

(C) Neither of the above 

(D) Norman E. Borlaug 

Answers: (D) Norman E. Borlaug

30. Start up India Mission launched on- 

(A) 17 January, 2016 

(B) 26 January, 2016 

(C) 15 August, 2015 

(D) 25 December, 2015 

Answers: (A) 17 January, 2016 

31. 'Dumping' in the context of international trade refers to- 

(A) Exporting goods at prices below the actual cost of production 

(B) Exporting goods without paying the appropriate taxes in the receiving country 

(C) Exporting goods of inferior quality 

(D) Exporting goods only to re-import them at cheaper rates 

Answers: (A) Exporting goods at prices below the actual cost of production

32. The degree of inflation measured with the help of- 

(A) Market information 

(B) Income-index number 

(C) General price index number 

(D) Prices of goods and services 

Answers: (C) General price index number

33. The monetary and credit policy of RBI is now known as- 

(A) The Currency and Credit Statement 

(B) RBI's Annual Policy Statement 

(C) Monetary and Credit Statement 

(D) None of the above 

Answers: (B) RBI's Annual Policy Statement

34. Which one of the following agencies has the power to declare any industrial unit as a potentially sick unit ? 





Answers: (A) BIFR

35. As on October 7, 2016, the repo rate stands at- 

(A) 6-25% 

(B) 7.00% 

(C) 8-25% 

(D) 6-00% 

Answers: (A) 6-25%

36. "Funds of Funds" is a part- 


(B) Start up India Scheme 

(C) Smart City Mission 

(D) Skill Development 

Answers: (B) Start up India Scheme

37. The Union government has decided to withdraw the benefit of subsidised LPG to the customers having income above- 

(A) 7:5 lakh 

(B) 10:0 lakh 

(C) 12-5 lakh 

(D) 15-0 lakh 

Answers: (B) 10:0 lakh

38. 'Open Market Operations' is a part of- 

(A) Income Policy 

(B) Fiscal Policy 

(C) Labour Policy 

(D) Credit Policy 

Answers: (D) Credit Policy

39. According to Data released in April 2016 by Bombay Stock Exchange the unemployment rate in urban areas in India was of the order of- 

(A) 12-62% 

(B) 11-15% 

(C) 12-15% 

(D) 9-62% 

Answers: (D) 9-62% 

40. At present (October 7, 2016), what is the Reverse Repo Rate ? 

(A) 5-75% 

(B) 5:50%

(C) 5-75% 

(D) 7:00% 

Answers: (A) 5-75%

41. Which of the following is regarded as the "Lender of the Last Resort' ? 

(A) RBI 

(B) Gol 


(D) SBI 

Answers: (A) RBI

42. What provision has been made for defence in the Central Budget for 2016-17 ? 

(A) 15% 

(B) 12% 

(C) 10% 

(D) 9.7% 

Answers: (C) 10%

43. India ranks _____ on Forbes' Best countries list for business in 2015. 

(A) 95th

(B) 96th 

(C) 97th 

(D) 98th

Answers: (C) 97th

44. Which of the following is not a part of Service tax ? 

(A) Event Management 

(B) Credit card 

(C) Telephone 

(D) None of the above 

Answers: (D) None of the above

45. 'Namami Gange' is associated with- 

(A) National Mission for Clean Ganga 

(B) Ganga Action Plan 

(C) Smart City Mission 


Answers: (A) National Mission for Clean Ganga

46. In which year MUDRA Micro Units Development & Refinance Agency was established ? 

(A) 1991 

(B) 2001 

(C) 2012 

(D) 2015 

Answers: (D) 2015

47. India Inclusive Innovation Fund (IIIF) will be created by- 



(C) Ministry of MSME 


Answers: (C) Ministry of MSME

48. Which states have not yet established Regional Rural Banks ? 

(A) Sikkim and Goa 

(B) Bihar and Rajasthan 

(C) Sikkim and Arunachal Pradesh 

(D) Nagaland and Manipur 

Answers: (A) Sikkim and Goa

49. The term 'Forensic Audit' is- 

(A) An examination and evaluation of a firms or individuals financial information for use as evidence in a court

(B) Can be conducted in order to prosecute a party for fraud, embezzlement or other financial claims 

(C) Against willful defaulters of loans from public sector Banks 

(D) All the above 

Answers: (D) All the above


50. Sustainable agriculture means- 

(A) Self-sufficiency 

(B) To be able to export and import under WTO norms 

(C) To utilise land so that its quality remains intact 

(D) To utilise waste land for agricultural purposes

Answers: (C) To utilise land so that its quality remains intact

51. The Jawahar Lal Nehru National Urban Renewal Mission (JNNURM) has now been subsumed in- 




(D) Smart City Mission 

Answers: (C) AMRUT

52. How many Public Sector Companies have been included in CPSEETF ?

(A) 10 

(B) 7 

(C) 12 

(D) 8 

Answers: (A) 10

53. Zero Landless Project has been launched in- 

(A) Kerala 

(B) Madhya Pradesh 

(C) Gujarat 

(D) Karnataka 

Answers: (A) Kerala

54. National Urban Livelihood Mission (NULM) is now renamed as- 

(A) Deen Dayal Antyoday Yojana-National Urban Livelihood Mission 

(B) Shahri Awas Evam Vikas Yojana 

(C) NULM-Smart City Yojana 

(D) None of the above 

Answers: (A) Deen Dayal Antyoday Yojana-National Urban Livelihood Mission

55. Structural unemployment arises due to- 

(A) Deflationary conditions 

(B) Heavy industry bias 

(C) Shortage of raw materials 

(D) Inadequate productive capacity 

Answers: (B) Heavy industry bias

56. As per the World Bank, the per capita Gross National Income (Current International rate) of India in 2015 is- 

(A) $ 1560 

(B) $ 6020 

(C) $ 1035

(D) $ 2350 

Answers: (B) $ 6020

57. What is the estimated replacement reproduction level per married couple to obtain zero population growth? 

(A) 2-0 

(B) 2-1 

(C) 1-6 

(D) 3-0 

Answers: (B) 2-1

58. What is the quantum of India's foreign debt as on end of March 2016 ?

(A) US $ 485-6 bn 

(B) US $ 350-2 bn 

(C) US $ 370-6 bn 

(D) US $ 323-9 bn

Answers: (A) US $ 485-6 bn

59. What average rate of annual growth has been originally targeted for the 12th Five Year Plan (2012–17) ? 

(A) 10% 

(B) 8% 

(C) 9% 

(D) 8-5% 

Answers: (B) 8%

60. The 14th Finance Commission headed by Y.V. Reddy submitted its report to the President of India. Its recommendations are operative for the period- 

(A) From April 1, 2009 to March 31, 2014 

(B) From Jan. 1, 2007 to December 2013 

(C) From April 1, 2007 to March 31, 2016 

(D) From April1, 2015 to March 31, 2020 

Answers: (D) From April1, 2015 to March 31, 2020

61. When was Agricultural Price Commission (now known as Commission for Agricultural Costs and Prices -CACP) established ?

(A) 1965

(B) 1969 

(C) 1974

(D) 1985 

Answers: (A) 1965

62. National Insurance Company Ltd. is a subsidiary of- 

(A) Kotak Mahindra 

(B) LIC of India 

(C) Telco 

(D) General Insurance Corporation of India 

Answers: (D) General Insurance Corporation of India

63. After 1991, the Central Government implemented various far-reaching reforms in the area of taxation. This was based on the recommendations of the- 

(A) Wanchoo Committee 

(B) Rajah Chelliah Committee 

(C) Raj Committee 

(D) Narasimham Committee 

Answers: (B) Rajah Chelliah Committee

64. A steady increase in the general level of prices as a result of excessive increase in aggregate demand as compared to aggregate supply is termed as- 

(A) Demand Pull inflation 

(B) Cost Push inflation 

(C) Stagflation 

(D) Structural inflation 

Answers: (A) Demand Pull inflation

65. After the initiation of economic reforms in 1991-92, the amount of-

(A) Direct taxes increased and that of indirect taxes decreased in gross tax revenue 

(B) Both direct and indirect taxes increased in gross tax revenue

(C) Both direct and indirect taxes decreased in gross tax revenue 

(D) Direct taxes decreased and that of indirect taxes increased in gross tax revenue 

Answers: (B) Both direct and indirect taxes increased in gross tax revenue

66. Which of the following is not a scheme of urban development ? 


(B) HriDAY 


(D) Start up India 

Answers: (D) Start up India

67. Which of the following is not a part of World Bank Group ?




(D) IDA 

Answers: (A) ADB

68. Dr. Amartya Sen who won the 1998 Nobel Prize for Economics is strongly in favour of adopting the following approach for economic development-

(A) Monetary Economics 

(B) Macro Economics 

(C) Welfare Economics 

(D) Free Market 

Answers: (C) Welfare Economics

69. How many cities have been selected in the first phase of Smart Cities Mission ? 

(A) 20 

(B) 21

(C) 22 

(D) 23 

Answers: (A) 20

70. According to Economic Survey 2015-16 in India, the percentage of earning population in the tax net is- 

(A) 4-0% 

(B) 5:5%

(C) 7:5% 

(D) 8:5% 

Answers: (B) 5:5%

71. The objective of Indian Planning is- 

(A) Increasing national income 

(B) Reducing inequalities in income and wealth 

(C) Elimination of poverty 

(D) All of the above 

Answers: (D) All of the above

72. The Gandhian economy was based on the principle of- 

(A) State control 

(B) Competition 

(C) Trusteeship 

(D) Rural co-operation 

Answers: (C) Trusteeship

73. The major aim of devaluation is to- 

(A) Encourage imports 

(B) Encourage exports 

(C) Encourage both exports and imports 

(D) Discourage both exports and imports

Answers: (B) Encourage exports

74. Which of the following constitutes the maximum share in power generation ? 

(A) Hydro Power 

(B) Thermal Power 

(C) Atomic Power 

(D) All the above here equal share 

Answers: (B) Thermal Power

75. Which of the following committees examined and suggested Financial sector reforms ? 

(A) Abid Hussain Committee 

(B) Bhagwati Committee

(C) Chelliah Committee 

(D) Narasimham Committee 

Answers: (D) Narasimham Committee

76. In newly introduced Pradhan Mantri Fasal Bima Yojana (introduced since Kharif crop 2016), farmers has to _______ per cent of insured premium for Kharif crops.

(A) 1-0% 

(B) 2-0% 

(C) 3.0% 

(D) 5-0% 

Answers: (B) 2-0%

77. National Income in India is estimated by- 

(A) CSO 

(B) Finance Commission 

(C) Planning Commission 

(D) Indian Statistical Institute

Answers: (A) CSO

78. Which of the following is a wrong match ? 

(A) Santro-Korea 

(B) Matiz-Taiwan 

(C) Zen-Japan

(D) Maruti-India 

Answers: (B) Matiz-Taiwan

79. Credit control operation in India is performed by- 

(A) Rural Banks 

(B) Commercial Banks 

(C) Reserve Bank of India 

(D) State Bank of India 

Answers: (C) Reserve Bank of India

80. Which of the following is a direct tax ? 

(A) Entertainment tax 

(B) Estate duty 

(C) Excise duty 

(D) Sales tax

Answers: (B) Estate duty

81. A tax that takes away a higher proportion of one's income as the income rises is termed as- 

(A) Progressive tax 

(B) Proportional tax 

(C) Regressive tax 

(D) Indirect tax

Answers: (A) Progressive tax

82. Of which of the following items, is there no significant export from India ?

(A) Readymade garments 

(B) Wool

(C) Footwear 

(D) Silk Apparel 

Answers: (B) Wool

83. Who is Chairman of Tax Administration Reform Commission, constituted by the Union Government ? 

(A) Urjit Patel 

(B) Y. B. Reddy 

(C) C. Rangrajan

(D) Parth Sarathy Shom 

Answers: (D) Parth Sarathy Shom 

84. Which of the following state has been announced as 'a state of total organic' farming ?

(A) Sikkim

(B) Karnataka

(C) Kerala

(D) Punjab

Answers: (A) Sikkim

85. Which of the following entrepreneur has been awarded EY Entrepreneur of the year 2016 award in October 2016 ? 

(A) Ambarish Mitra 

(B) Sidharth Birla 

(C) Rajan Bharti 

(D) Gopal Krishnan 

Answers: (A) Ambarish Mitra 

86. Rurban Mission has been named after- 

(A) Deendayal Upadhyay 

(B) Nanaji Deshmukh 

(C) Shyama Prasad Mukherji

(D) Atal Bihari Vajpayee

Answers: (C) Shyama Prasad Mukherji

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