1. India has-
(a) Socialistic Economy (b) Gandhian Economy
(c) Mixed Economy (d) Free Economy
2.India’s wage policy is based on –
(a) cost of living (b) standard of living
(c) productivity (d) none of these
3. Who wrote the book “Planned Economy for India” ?
(a) M. Visvesvarayya (b) Sardar Patel
(c) Jawaharlal Nehru (d) Mahatma Gandhi
4.One of problems in calculating the national income in India correctly is-
(a) under employment (b) inflation
(c) non-monetised consumption (d) low savings
5. The main source of India’s national income is-
(a) industry (b) agriculture
(c) forestry (d) none of these
6. In our country, which of the following affects poverty line the most ?
(a) Level of prices (b) Production quantum
(c) Per capita Income (d) Quantum of gold reserve
7. Which of the following is not a direct tax ?
(a) Wealth tax (b) Sales tax
(c) Income tax (d) Estate duty
8. The largest revenue in India is obtained from-
(a) Sales Tax (b) Direct Taxes
(c) Excise Duties (d) None of these
9. Which of the following is not shared by the centre and the states ?
(a) Sales Tax (b) Corporation Tax
(c) Income Tax (d) None of these
10. Companies pay corporation tax on their-
(a) investment (b) production
(c) sales proceeds (d) incomes
11. Who among the following is most benefitted from inflation ?
(a) Government pensioners (b) Saving Bank account holders
(c) Debtors (d) Creditors
12. The largest public sector bank in India is-
(a) Central Bank (b) State Bank of India
(c) Punjab National Bank (d) Indian Overseases Bank
13 When was the decimal system of currency introduced in India ?
(a) 1948 (b) 1950
(c) 1954 (d) 1957
14. Inflation can be contained by-
(a) surplus budget (b) increase in taxation
(c) reduction in public expenditure (d) all of these
15. Monetary Policy refers to the policy of-
(a) Money lenders (b) Government
(c) Commercial Banks (d) Central Bank
16.Who among the following is the chairman of the Planning Commission ?
(a) President (b) Speaker of Lok Sabha
(c) Prime Minister (d) Union Minister of Planning
17. In which year was the Rolling Plan introduced ?
(a) 1951-52 (b) 1976-77
(c) 1978-79 (d) 1984-85
18. Narasimhan report relates to the restructuring of-
(a) Sick industries (b) Sales
(c) Income Tax (d) Banks ‘