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Free download in PDF Indian Economy CSAT Prelims Previous Years Solved Multiple Choice Questions(MCQs) and Answers. These gk multiple choice questions are helpful to crack IAS/IPS/IFS prelims paper I exam.
(1)
Which one of the following statements regarding the levying. Collecting and distribution of Income Tax is correct?
[A]
The Union levies, collects and keeps all the proceeds of income tax to itself
[B]
The Union levies and collects and keeps all the proceeds are distributed among the states
[C]
The Union levies, collects and distributes the proceeds of income tax between itself and the states
[D]
Only the surcharge levied on income tax is shared between the Union and the states
Comment
(2)
The most appropriate measure economic growth is its:
[A]
Per Capita Real Income
[B]
Net National product
[C]
Net Domestic product
[D]
Gross Domestic Product of a country’s
Comment
(3)
The term National Income represents:
[A]
gross national product at market prices minus depreciation
[B]
gross national product at market prices minus net factor income from abroad
[C]
gross national product at market prices minus depreciation and indirect taxes plus subsidies
[D]
gross national product at market prices minus depreciation plus net factor income from abroad
Comment
(4)
Which one of the following is the correct sequence in the decreasing order of contribution of different sectors to the Gross Domestic Product of India?
[A]
Industry- agriculture- services
[B]
Industry-Services-Agriculture
[C]
Services-Agriculture- Industry
[D]
Services-Industry- Agriculture
Comment
(5)
Which one of the following statements is an appropriate description of deflation?
[A]
It is a fall in the rate of inflation over a period of time
[B]
It is a persistent fall in the general price level of goods and services
[C]
It is a persistent recession in both the financial and real sectors of economy
[D]
It is a sudden fall in the value of a currency against other currencies
Comment
(6)
When the Reserve Bank of India announces an increase of the Cash Reserve Rate, what does it mean?
[A]
The commercial banks will have more money to lend
[B]
The Union Government will have less money to lend
[C]
The Reserve Bank of India will have less money to lend
[D]
The commercial banks will have less money to lend
Comment
(7)
India is regarded as a country with “Demographic Dividend”. This is due to
[A]
Its high total population.
[B]
Its high population in the age group above 65 years.
[C]
Its high population in the age group of 15-64 years.
[D]
Its high population in the age group below 15 years.
Comment
(8)
Which one of the following groups of items is included in India’s foreign-exchange reserves?
[A]
Foreign-currency assets, Special Drawing Rights (SDRs) and loans from foreign countries
[B]
Foreign-currency assets, gold holdings of the RBI and SDR’s
[C]
Foreign-currency assets, loans from the World Bank and SDR’s
[D]
Foreign-currency assets, gold holdings of the RBI and loans from the World Bank
Comment
(9)
The terms ‘Marginal Standing Facility Rate’ and ‘Net Demand and Time Liabilities’, sometimes appearing in news, are used in relation to
[A]
military strategies
[B]
banking operations
[C]
communication networking
[D]
supply and demand of agricultural products
Comment
(10)
A consumer is said to be in equilibrium, if:
[A]
he is able to locate new sources of income
[B]
he can fulfil his needs without consumption of certain items
[C]
he is able to live in full comforts with a given level of income
[D]
he is able to fulfil his need with a given level of income
Comment
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