MCQ
Economy MCQ - Practice Questions with Answers
Solve 64 Economy questions for RAS/RPSC preparation.
Practice questions
Q1Goods and Service Tax was implemented in India from-
GST (Goods and Services Tax) was implemented in India with effect from 1 July 2017. It was launched at a symbolic midnight session of Parliament on the night of 30 June – 1 July 2017 by the President of India. 1 July is officially celebrated as GST Day.
Q2As per Economic Survey 2020-21, which of the following statements are correct, regarding state economic development ? (a) The growth rate as per gross state domestic product at constant prices (2011-12), in year 2020-21 is 4.11%. (b) The sectoral contribution of services in Gross State Value Added at constant prices (2011-12), in year 2020-21 is 42.40%. (c) The Fiscal deficit to Gross State Domestic Product in year 2019-20 was 3.77%. (d) The contribution of Agriculture sector in Gross State Value Added at constant prices is the lowest.
Statement (a) is incorrect: Rajasthan's real GSDP at constant (2011-12) prices declined by 6.61% in 2020-21, while -4.11% was the current-price decline. Statement (b) is correct because services contributed 42.40% to GSVA at constant (2011-12) basic prices in 2020-21. Statement (c) is correct: Rajasthan's fiscal deficit as a percentage of GSDP was 3.77% in 2019-20. Statement (d) is incorrect because industry, not agriculture, had the lowest constant-price GSVA share in 2020-21. Therefore only (b) and (c) are correct.
Q3In return for his investment, a shareholder receives
A shareholder owns a part of the company and may receive corporate benefits from that ownership. SEBI investor material identifies dividends and bonus shares as benefits available to shareholders when declared by the company. Hence, option B is correct.
Q4Which of the following states was the largest producer of coffee in 2016-17? (1) Kerala (2) Karnatak (3) Tamilnadu (4) Andhra Pradesh
Karnataka was the largest producer of coffee in India in 2016-17. Coffee Board data places Karnataka far ahead of the other coffee-producing states, including Kerala and Tamil Nadu, so option B is correct.
Q5The platform for ‘Transparent Taxation – Honoring the Honest’ was launched in
The 'Transparent Taxation – Honoring the Honest' platform was launched by Prime Minister Narendra Modi on 13 August 2020 via video conferencing. Hence August 2020 is correct.
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6For the purpose of the Viksit Bharat - Guarantee for Rozgar and Ajeevika Mission (GRAMIN) : VB-G RAM G Act, 2025, a 90:10 funding pattern between the Central and State Governments is applicable to all of the following, except :
7What is the ratio of share of centre and state for all categories of farmers under Pradhan Mantri Krishi Sinchai Yojana – Micro Irrigation (PMKSYMI) ?
8Which of the following is not a problem in the measurement of National Income ?
9The co-existence of inflation and unemployment is called
10Which of the following is added in National income while computing personal income ?
11National Mission for Sustainable Agriculture consists of which of the following sub-mission?
12According to the National Manufacturing Mission announced in the Union Budget 2025-26, what is the target for the manufacturing sector's contribution to India's GDP ?
13Which of the following statements is/are true ? (a) e-Shram Portal is a one stop solution connecting job seekers, employers, training providers and career guidance & counselling agencies. (b) National Career Service Portal is steadily bridging the gap between informal and formal employment, serving as a key institutional mechanism for extending social protection to unorganized workers. Codes :
14What was the main theme of twelfth five year plan of India ?
15Match List-I with List-II and select the correct answer by using the codes given below the lists : List-I (A) Open inflation (B) Demand pull inflation (C) Ratchet inflation (D) Suppressed inflation List-II (i) When there is effective price control by the government. (ii) When there is no barrier to price rise. (iii) When aggregate demand is more than aggregate supply at full employment level. (iv) When although aggregate demand is not excessive but it is so distributed in economy that it is excessive in certain sectors. Codes : (A) (B) (C) (D)