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SET 3 – Economy Questions and Answers

• अरुण कुमार
• Posted on 10/23/2023

Important questions and answers of GK Set-3 related to Economics language for various competitive exams

Economy GK – Set 3: – GK Questions related to Economics below Section-3 Questions and answers have been written . All the economics related question banks, railways, SSC etc. published in this section will be important and helpful for you in all examinations.

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Question 1. Which class consists of redistribution of income and wealth in favor of inflation?

1. Pensioner
2. Poor
3. Middle Class
4. Rich Class

Question 2. When did the new economic policy program on economic reform start?
July 1982
July 1993
July 1991
July 1994

Question 3. When was the Fringe Benefit Tax introduced in the budget?

1. 2003-04
2. 2004-05
3. 2005-06
4. 2006-07

Question 4. Which place is India based on PPP (Purchasing Power Parity)?
5
6
9
3

Question 5. Excise duty is a tax of ________?

1. Items that are exported
2. Items that are imported
3. Both exported and imported goods
4. Goods produced and consumed within the country

Question 6. India has got more success in which industry sector?
computer software
computer hardware
Both
None of these

Question 7. What does indirect tax mean?

1. There is no direct connection between the taxpayer and the government
2. Direct relationship between taxpayer and government
3. Tax base income is
4. The event and effect is on the person who is taxed

Question 8. The pace of economic growth due to population growth is _________?
Gets faster
Stays normal
Gets dim
Nothing happens

Question 9. One of the essential conditions of full competition is ______?

1. Product differentiation
2. Multiplicity of prices for similar products at any one time
3. Many sellers and few buyers
4. Only one price for the same goods at any one time

Question 10. The basic structure of an economy is created by
By industries
By services
By agriculture
By three

Question 11. “Hindu rate of development for Indian economy” Who said the word “Hindu rate of growth for Indian economy”?

1. A.K. Sen
2. Kirit S. Parikh
3. Raj Krishna
4. Montek Singh Ahluwalia

Question 12. In which year was the Golden Jubilee Urban Employment Scheme launched?
1992
1982
2002
1997

Question 13. Which of the following is not an example of indirect tax?

1. Sales Tax
2. Excise
3. Customs
4. Expenditure Tax

Question 14. The Cooperative Planning Committee was formed under whose leadership?
R. G. Saraiya
Chelmsford
Mclegan
Horesh

Question 15. What is the main purpose of devaluation?

1. Encourage Import
2. Encourage Export
3. Encourage both exports and imports
4. Discouraging both exports and imports