Static GK Test: Economics, Test-2

These tests are a check for your learning and are meant to serve as tools for assessment.
The test is designed to check your Static General Knowledge and provide you an assessment of the same.
Each question is followed by 4 options. Select the most appropriate option for the question.

Static GK Test: Economics, Test-2

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Congratulations - you have completed Static GK Test: Economics, Test-2.You scored %%SCORE%% out of %%TOTAL%%.Your performance has been rated as %%RATING%%

Your answers are highlighted below.

Question 1

Which country includes its income from cocaine and narcotics in its GDP?

A	Columbia
B	Venezuela
C	Afghanistan
D	Peru

Question 2

Generally speaking the cause of inflation is

A	increase in money supply
B	fall in production
C	decrease in money supply and fall in production
D	increase in money supply and fall in production

Question 3

Black money is

A	income on which tax is not paid
B	counterfeit currency
C	illegally earned money
D	money earned through underhand deals.

Question 4

Which among the following is the oldest development financial institution of India?

A	UTI
B	IDBI
C	ICICI
D	IFCI

Question 5

Deflation is defined as

A	increase in public expenditure
B	reduction in taxation
C	contraction in volume of money/credit which results in a decline of price level.
D	deficit budget

Question 6

Who is the Chairman of the Planning Commission?

A	President of India
B	Chief Justice of India
C	Vice-President of India
D	Prime-Minister of India

Question 7

Which of the following is not a non-plan expenditure?

A	Central assistance for States and UT plans
B	Defense expenditure
C	Subsidies
D	Interest payment

Question 8

What is the main source of revenue to meet different expenditures?

A	Custom duties
B	Excise duties
C	Income tax
D	Internal borrowings

Question 9

Beginning April 2011, the Government of India had proposed to bring down the corporate tax rate from 30 per cent to

A	22 per cent
B	26 per cent
C	25 per cent
D	28 per cent

Question 10

Laissez faire means

A	Active intervention
B	Sound commercial affairs
C	Non-interference by the State in the direction of economic affairs
D	Non- interference by the State in law and order