Q51. What is the full form of GDP?
[A] Global domestic Ratio
[B] Gross domestic product
[C] Global depository receipts
[D] Gross depository revenue
Q52. Paper currency first started in India in
[A] 1861
[B] 1542
[C] 1880
[D] 1601
Q53. __________ is a type of good for which demand increases as its price rises.
[A] Giffen Good
[B] Capital Good
[C] Consumer Good
[D] Club Good
Q54. The concept of Economic planning in India is derived from
[A] Australia
[B] Russia
[C] UK
[D] USA
300+ Indian Economy Quiz Questions & Answers
Q55. In India national, National Income is calculated by the method which is known as
[A] the product method
[B] the expenditure method
[C] the combined method
[D] the income method
Q56. With which of the following is ‘Operation Flood’ related?
[A] India’s poultry industry
[B] India’s dairy industry
[C] India’s farming industry
[D] India’s mining industry
Q57. In India, planned economy is based on
[A] Gandhian System
[B] Socialist System
[C] Capitalist System
[D] Mixed Economy System
Q58. Which of these institutions fixes the Repo Rate and the Reverse Repo Rate in India?
[A] Reserve Bank of India
[B] State Bank of India
[C] Comptroller and Auditor General of India
[D] Ministry of Finance
Q59. Which of the following regulates the working of share market in India?
[A] SEBI
[B] BIFR
[C] FERA
[D] MRTP Act
Q60. Which economist gave the theory of Opportunity Cost?
[A] Milton Friedman
[B] John Keynes
[C] Gottfried Haberler
[D] Adam Smith