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Explanation

Event	Year	Details
iii) Launch of the First Five-Year Plan	1951	Marked the beginning of India's planned economic development.
i) Nationalization of 14 major banks	1969	A major step to bring commercial banking under government control.
ii) India's LPG reforms	1991	A turning point in economic policy: Liberalisation, Privatisation, Globalisation.
iv) Formation of NITI Aayog	2015	Replaced the 65-year-old Planning Commission (which oversaw the Five-Year Plans).

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Question ID: 9929

Question 8 of 376

$Identify which of the following statements is true?$

Explanation

The only true statement is C) In the managed floating exchange rate system, the central bank intervenes to moderate exchange rate fluctuations.

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Question ID: 9928

Question 9 of 376

$Hypothetically, a firm's profit margin and total profit are maximized at the same point when$

Explanation

The correct answer is D) None of the above .

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Question ID: 9927

Question 10 of 376

$IfIndian government is running a budget deficit and net exports are zero, then$

Explanation

The correct answer is A) investment is greater than saving .

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Question ID: 9926

Question 11 of 376

$Suppose the GDP at Market Price of a country in 2024 was 1000 crores. The values of Net factor income from abroad was 100 crores, net factor income paid to abroad was 50 crores, net indirect taxes were 100 crores and the national income was 700 crores. Calculate the total value of depreciation.$

Explanation

The correct answer is A) 250 crores.

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Question ID: 9925

Question 12 of 376

$Suppose, GDP in India in FY 2023-24 is 6,00,000 and we also assume the following: Mr. P, an Indian citizen, works in Tokyo and earns 50,000. Mr. Q, an Australian citizen, works in Mumbai and earns 30,000. Mrs. R, an Indian citizen, owns a restaurant in UK which she rents to a British family for 25,000. Mrs. S, a German citizen, owns a factory in New Delhi which she rents to an Indian firm for 60,000. Given above, GNP in India in FY 2023-24 will be:$

Explanation

The correct answer is A) 5,85,000 .

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Question ID: 9924

Question 13 of 376

$What has been a key factor in India's economic growth in recent decades?$

Explanation

The key factor among the choices that has driven India's economic growth in recent decades is C) Improved business climate .

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Question ID: 9923

Question 14 of 376

$When was the last Census of India conducted?$

Explanation

The last decennial Census of India was conducted in 2011.

The Census of India is conducted every 10 years, making the 2021 Census the next scheduled one. However, the 2021 Census was postponed due to the COVID-19 pandemic and other administrative reasons, and it has not been conducted yet.

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Question ID: 9922

Question 15 of 376

$Inequality of income is measured by:$

Explanation

The inequality of income is measured by the B) Gini coefficient .

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Question ID: 9921

Question 16 of 376

$Match List A with List B: List- A List - B (I) Fall in general price level 1) Devaluation (II) Reduction in value of currency 2) Expansionary policy (III) Increase in spending by the government 3) Deflation (IV) Increase in taxes on traded goods 4) Tariff Choose the correct option:$

Explanation

The correct match between List A and List B is:

(I) Fall in general price level $\rightarrow$ 3) Deflation
(II) Reduction in value of currency $\rightarrow$ 1) Devaluation
(III) Increase in spending by the government $\rightarrow$ 2) Expansionary policy
(IV) Increase in taxes on traded goods $\rightarrow$ 4) Tariff

Therefore, the correct option is C) (I)-(3), (II)-(1), (III)-(2), (IV)-(4).

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Question ID: 9920

Question 17 of 376

$In the case of a perfectly competitive firm, the$

Explanation

change in the firm's total revenue equals the price of the product multiplied by the change in quantity sold.

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Question ID: 9919

Question 18 of 376

$Under which market structure does the firm's demand curve coincide with the market demand curve?$

Explanation

In a Monopoly market structure, there is only one seller or firm that produces a product with no close substitutes. Because this single firm is the entire industry, the demand curve facing the individual firm is the same as the entire market demand curve

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Question ID: 9918

Question 19 of 376

$A firm faces the following long run cost function TC=q³ - 40q² +450q. Average Cost, AC, will be at its minimum when$

Explanation

Q=20, AC = 50

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Question ID: 9917

Question 20 of 376

$Suppose, production function for automobiles is given by q = KL. Assume q = 100 and K=25. If one more unit of labour is used while capital is held constant, marginal product of labour is equal to_ , and average product of labour _$

Explanation

25; remains unchanged at 25 automobiles per unit of labour.

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Question ID: 9916

Question 21 of 376

$(10, 16) and (12, 14) are two points on an isoquant, where the first input is labour and the second is capital. The rate of substitution of labour of capital between these two points is$

Explanation

1

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Question ID: 9915

Question 22 of 376

$A Consumer has utility function U(X,X,)=x²X,. Price of X=1 and Price of X=3 and consumer income is 180. Find the consumer's optimal bundle.$

Explanation

(120, 20)

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Question ID: 9914

Question 23 of 376

$If the cross elasticity of demand between goods A and B is positive,$

Explanation

A and B are substitutes

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Question ID: 9913

Question 24 of 376

$Which of the following best describes the Phillips Curve in macroeconomics?$

Junior Stenographer 2024

Explanation

It shows the trade off between inflation and unemployment

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Question ID: 9807

Question 25 of 376

$Which of the following are part of the Goods and Services Tax (GST) Council of India? I. Cabinet Ministers of Union Government II. Union Finance Minister III. Union Minister of State in charge of Revenue or Finance IV. The Minister in charge of Finance for each state or any minister nominated by the state government$

Data Entry Operator 2025

Explanation

The membership is specifically defined as follows:

II. Union Finance Minister: Serves as the Chairperson of the Council.
III. Union Minister of State in charge of Revenue or Finance: Member representing the Union Government.
IV. State Representatives: The Minister in charge of Finance or Taxation, or any other Minister nominated by each State Government and Union Territory with a legislature. From among these members, a Vice-Chairperson is elected.

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Question ID: 8249

Question 26 of 376

$How many times in a year does RBI release Monetary policy?$

Data Entry Operator 2023

Economy

Explanation

RBI?s Monetary Policy Committee meets 6 times in a year (bi-monthly).

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Question ID: 8185

Question 27 of 376

$Responsible for accounting in India?$

JKP Photographer 2024

Economy ? Accounts

Explanation

CGA responsible for accounts.

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Question ID: 7925

Question 28 of 376

$What does the Lorenz curve represent?$

Account Ast. 2024

Economics - Lorenz Curve

Explanation

Lorenz curve shows the distribution of income or wealth within an economy.

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Question ID: 7618

Question 29 of 376

$Which is not one of the four main factors of production?$

Economics - Factors of Production

Account Ast. 2024

Explanation

The four main factors are land, labour, capital, and entrepreneurship. Manufacturing is not a factor.

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Question ID: 7617

Question 30 of 376

$Which five year plan of India was based on Mahalanobis model?$

Indian Economy - Five Year Plans

Account Ast. 2024