Economics Practice Questions Set 15

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For India's Top Government Exams

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According to the latest Reserve Bank of India study on State finances, capital spending is maximum on ___
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1 point

rural development

water supply and sanitation

urban development

education

The Fourteenth Finance Commission assigned different weights to the following parameters for the distribution of tax proceeds to the States :

1. Income distance
2. Population
3. Demographic changes
4. Area
Arrange the aforesaid parameters in descending order in terms of their weights.

1 point

1-2-3-4

1-2-4-3

1-3-2-4

4-3-2-1

According to the law of diminishing marginal utility, as the amount of good consumed increases, the marginal utility of that good tends to
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1 point

improve

diminish

remain constant

first, diminish and then improve

As per the extant policy, Foreign Direct Investment is permitted in the defense sector under the automatic route up to which one of the following limits?
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1 point

26 percent

74 percent

51 percent

49 percent

Which of the following statements about the India Post Payments Bank (IPPB) is/are correct?

1. It has been incorporated as a Public Limited Company.
2. It started its operation by establishing two pilot branches in Hyderabad and Varanasi.
Select the correct answer using the code given below.

1 point

1 only

2 only

Both 1 and 2

Neither 1 nor 2

The natural rate of unemployment hypothesis was advocated by ___
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1 point

Milton Friedman

A. W. Phillips

J. M. Keynes

R. G. Lipsey

According to the World Bank’s Doing Business Report, 2018, India’s ranking has improved in 2018 as compared to 2017 in which of the following areas?

1. Paying taxes
2. Resolving insolvency
3. Starting a business
4. Getting electricity
Select the correct answer using the code given below.

1 point

1 only

1 and 2 only

1, 2 and 3

2, 3 and 4

Which one of the following events is not correctly matched with the year in which it happened?
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1 point

Inauguration of the SWIFT system of electronic interbank fund transfers worldwide – 1985

Conclusion of the Uruguay Round of GATT – 1994

Inauguration of the World Trade Organization – 1995

Establishment of the first wholly electronic stock exchange (Nasdaq) – 1971

Growth in production (in percent) of which one of the following core industries in India during the period 2015-2016 was negative?
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1 point

Natural gas

Refinery products

Fertilizer

Coal

Consider the following statements about the impact of tax:

1. A tax is shifted forward to consumers if the demand is inelastic relative to supply.
2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand.
Which of the statements given above is/are correct?

1 point

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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