UPSC NCERT ECONOMY NOTES: TOPIC WISE SOLVED MCQ’s

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1. Who among the following released “Citizens guide to fight corruption?

a) Ministry of Family Welfare

b) Consumer Co-operative societies

c) Central Vigilance Commission

d) Transparency International

Ans: C

2. Who is called the “Father of Modern Economics”?

a) Adam Smith

b) Marshall

c) Keynes

d) Robbins

Ans: A

3. Read the following statements carefully:

1) In 1991 the policy of Economic liberalization was adopted in India.

2) Foreign currency market and Foreign Investment sectors were promoted.

3) Import of foreign goods was freed from prohibition.

Select the answer on the basis of the following codes:

a) 1 and 2 are correct

b) 1 and 3 are correct

c) 1 and 3 are correct

d) 1, 2 and 3 are correct

Ans: D

4. The Book “The Argumentative Indian” is written by:

a) Mulk Raj Anand

b) Dan Brown

c) Bimal Jalan

d) Amartya Sen

Ans: D

5. Match List-1 with List-2 and select the correct answer using the codes given below the lists:

List-1

a) Boom

b) Recession

c) Depression

d)Recovery

List-2

1. Business activity at a high level with increasing income, output and employment at the macro level

2. Gradual fall of income, output and employment with business activity in a low gear

3. An unprecedented level of underemployment and unemployment, drastic fall in income, output and employment

4. A steady rise in the general level of prices, income, output and employment

   A B C D

a) 1 2 3 4

b) 1 2 4 3

c) 2 1 4 3

d) 2 1 3 4

Ans: A

6. Match List-1 with List-2 and select the correct answer using the codes given below the lists:

List-1

a) United Nations Development Programme (UNDP)

b) National Council of Applied Economic

c) World Bank/IBRD

d) Indira Gandhi Institute Of Development Research

List-2

1) Human Development Report

2) India Human Development Report

3) World Development Report

4) India Development Report

    A B C D

a) 1 2 3 4

b) 1 2 4 3

c) 2 1 4 3

d) 2 1 3 4

Ans: A

7. Consider the following financial institution of India:

1) Industrial Finance Corporation of India (IFCI)

2) Industrial Credit and Investment Corporation of India (ICICI)

3) Industrial Development Bank of India (IDBI)

4) National Bank for Agriculture and Rural Development (NABARD)

The correct chronological sequence of the establishment of these institutions is:

a) 1,2,3,4

b) 2,3,4,1

c) 3,4,1,2

d) 4,1,2,3

Ans: A