• 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

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
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