GS Economics Moderate

Right Mark: 1 Negative Mark: 0.25

Q1: Indian economy is:

(A) Socialist (B) Capitalist (C) Mixed (C) Mixed

Q2: Largest contributor to India’s GDP:

(A) Agriculture (B) Industry (C) Services (D) Mining

Q3: Planning Commission was set up in:

Q4: In which year Planning Commission was replaced by 'NITI Aayog'?

Q5: First Five-Year Plan focused on:

(A) Industry (B) Agriculture (C) Education (D) Transport

Q6: Green Revolution relates to:

(A) IT (B) Agriculture (C) Banking (D) Trade

Q7: Largest employer in India:

(A) Services (B) Industry (C) Agriculture (D) Defence

Q8: Largest food grain producer state in India:

(A) Punjab (B) Uttar Pradesh (C) West Bengal (D) Bihar

Q9: Major source of government revenue:

(A) Income tax (B) GST (C) Excise duty (D) Customs

Q10: Which is an indirect tax?

(A) Income tax (B) Wealth tax (C) GST (D) Corporate tax

Q11: World Trade Organization (WTO) was established in:

Q12: Headquarters of World Trade Organization is located in _________

(A) Paris (B) Geneva (C) Washington (D) London

Q13: IMF stands for:

(A) Indian Monetary Fund (B) International Monetary Fund (C) International Market Fund (D) International Mutual Fund

Q14: “Soft Loan Window” of World Bank is:

(A) IDA (B) IFC (C) MIGA (D) IMF

Q15: Currency of IMF is:

(A) Dollar (B) SDR (C) Yuan (D) Franc

Q16: India became a member of World Trade Organization in:

Q17: Balance of Payments includes:

(A) Imports only (B) Exports only (C) Both imports and exports (D) Only foreign investment

Q18: Dumping means:

(A) Selling goods at high price abroad (B) Selling goods below cost price abroad (C) Banning imports (D) None

Q19: Devaluation of currency makes exports ______

(A) Cheaper (B) Costlier (C) Unchanged (D) Nil

Q20: Which is not a member of G-7?

(A) USA (B) India (C) Japan (D) France

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