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Questions related to Indian Economics are always asked in every competitive examinations conducted by SSC CGL, UPSC, PSC, LIC, GIC, Railways, IBPS, etc. The main objective of these questions is to test the candidate's knowledge in the subject Economics, specially Indian Economics. For this purpose we have provided more than 100 objective questions on Indian Economy with answers for the candidates to enhance their knowledge in this area. All these questions had already been asked in various competitive examinations such as SSC CGL, SSC CHSL, SSC TAX ASSISTANT, UPSC, BANK CLERK, BANK PO, CDS, NDA, CPO, PSC, LIC, GIC, RAILWAYS, etc.

Take 10 Questions Online Quiz (objective questions) on Indian Economy below:

1) Notes on which denomination has the portrait of Mahatma Gandhi printed on them?
A) 100 rupee
B) 500 rupee
C) 1000 rupee
D) All of these

2) According to the law of demand, when Price?
A) Decreases, demand decreases
B) Decreases, demand does not change
C) Increases, demand decreases
D) Increases, demand increases

3) In equilibrium, a perfectly competitive firm will equate
A) Marginal social cost with marginal social benefit
B) Market supply with market demand
C) Marginal profit with marginal cost
D) Marginal revenue with marginal cost

4) Which of the following bodies finalises the Five Year Plan proposals?
A) Planning Commission
B) Union Cabinet
C) National Development Council
D) Ministry of Planning

5) An increase in the quantity supplied suggests?
A) a rightward shift of the supply curve
B) a leftward shift of the supply curve
C) a movement up along the supply curve
D) a movement down the supply curve

6) Cyclical unemployment refers to:
A) seasonal unemployment
B) disguised unemployment
C) voluntary unemployment
D) unemployment during recessionary phase of a trade cycle

7) Which is/are correct? 1. The USSR assisted in the building of the Bhilai Steel plant, 2. The British assisted in the building of the Bokaro Steel plant.
A) 1 only
B) 2 only
C) Both 1 and 2
D) Neither 1 nor 2

8) Who was the first Deputy Chairman of Planning Commission of India?
A) Jawaharlal Nehru
B) Dr Rajendra Prasad
C) V T Krishnamachari
D) C Rajagopalachari

9) Devaluation means:
A) converting rupee into gold
B) lowering of the value of one currency in comparison of some foreign currency
C) making rupee dealer in comparison to some foreign currency
D) None of these

10) Excise Duty is a tax levied on the?
A) export of goods
B) import of goods
C) production of goods
D) sale of goods

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