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DescriptionNATURE OF INDIAN ECONOMY QUESTIONS and Answers exams contains the questions from various competitive exams.These questions are the part of previous year paper.These kind of questions would be helpful in preparing for exams like IAS, PCS, UPSC, NDA, CDS SSC, RRB, PSC, IBPS

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Question: Blue revolution is related to -


Question: Income Tax in India was Introduced by:

Answer:William Jones

Question: Match column A with column B and select the correct answer using the codes given below: COLUMN A: A. Open-General License B. Trysem C. Wholesale price index D. Cash-reserve ratio COLUMN -B; 1. Employment 2. Extranal Trade 3. Credit control 4. Inflation

Answer:A2 B1 C4 D3

Question: Foreign currency which has a tendency of quick migration is called :

Answer:hot currency

Question: Preparation of butter, ghee by a household for its own use is a part of :

Answer:Own-account production

Question: The Keynesian consumption function shows a relation between :

Answer:aggregate consumption and aggregate income`

Question: Which among the following is termed 'Hot Money' ?


Question: Consumption for the sake of enjoying social acknowledgement is called :

Answer:Conspicuous consumption

Question: What is m-commerce ?

Answer:mobile commerce

Question: According to the latest Education development Index' based on a series of surveys conducted by the National University of Education, Planning and Administration and released in February, 2011, the state with the highest Development Index is :


Question: Equilibrium price in the market is determined by the :

Answer:equality between total cost and total revenue

Question: What is meant by 'Capital Gain" ?

Answer:Appreciation in the money value of assets.

Question: Collective consumption means:

Answer:consumption by the citizens of the country.

Question: Other things being equal, a decrease in quantity demanded of a commodity can be caused by:

Answer:a rise in the price of the commodity

Question: Which of the following is not an economic problem ?

Answer:Deciding between paid work and leisure

Question: Take-off stage' in an economy means:

Answer:steady growth begins

Question: The value of investment multiplier relates to :

Answer:change in the income due to change in induced investment

Question: The internal rate of return:

Answer:falls as the annual yield of an investment rises.

Question: As the number of investments made by a firm increases, its internal rate of return.

Answer:increases to compensate the firm for the current consumption foregone.

Question: Consumer's surplus is the highest in the case of :