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Indian Economy MCQs - Easy2crack

1. When the productive of the economic system of state is inadequate to create sufficient number of jobs, it is called __________.


A . Seasonal Unemployment
B . Structural Unemployment
C . Disguised Unemployment
D . Cyclical Unemployment

2. In the contest of banking sector of India, what is the full form of IMPS?


A . Instant Payment Service
B . Instant Payment Sector
C . Immediate Payment Sector
D . Immediate Payment Service

3. Who among the following is the auther of 'Principles of Political Economy'?


A . Milton Friedman
B . John Stuart Mill
C . Joseph Schumpeter
D . David Ricardo

4. What is the full form of GSTIN in relation to GST?


A . Goods and Services Tax Identification Note
B . Goods and Services Tax Identification Number
C . Goods and Services Tax Information Number
D . Goods and Services Taxation Income Number

5. Which of the following terms refers to the running down or payment of a loan in instalments?


A . Discounted cashflow
B . Credit creation
C . Backwardation
D . Amortisation

6. In the context of international banking transactions what is the full of SWIFT?


A . Society for Wireless International Financial Transactions
B . Society for Worldwide Interbank Financial Telecommunication
C . Society for Worldwide International Financial Telecommunication
D . Society for Worldwide Internation Fincial Tranctions

7. Which of the following types of bank accounts does NOT earn any interest for the account holder?


A . Pension Account
B . Current Account
C . Savings Account
D . Recurring Deposit Account

8. A market structure which is dominated by only a small number of firms is called:


A . Perfect Compitition
B . Monopoly
C . Oligopoly
D . Monopolistic Competition

9. Which one of the following is a monetary principle stating that "Bad money drives out good"?


A . Pareto efficiency
B . The Multiplier Effect
C . Marshall's Scissors Analysis
D . Gresham's Law

10. The assets that can be easily converted into cash within a short period ( i.e one year or less) is known as:


A . Current Assets
B . Fixed Assets
C . Intangible Assets
D . Investments