Economics in Competitive Exams

1. Which authority recommends the principles governing the grants - in - aid of the revenues of the states out of the Consolidated Fund of India?

Ans: Finance Commission  

2. The' PAN' in PAN card issued by the Income Tax Department stands for?

Ans: Permanent Account Number  

3. Which scheme is a centrally sponsored scheme launched in 2000 for one crore of the poorest families which is an important milestone in providing food grains to the poor?

Ans: Antyodaya Anna Yojana

4. Paper gold is:

Ans: Special Drawing right

5. The practice of crossing a cheque originated in:

Ans: Britain

6. The increase in agricultural production in 1971 resulted in the wheat revolution. It is referred to as the Green Revolution. Who was the Prime Minister then?

Ans: Indira Gandhi

7. "A tree for every child" programme was launched during which Five Year plan?

Ans: Sixth

8. The 2011 Census is the _____Census?

Ans: 15th

9. The concept of rolling plan was put forward by _____ in his book 'Asian Drama'?

Ans: Gunner Myrdal

10. Heavy industries and Capital goods industries are given top priority in the growth model of:

Ans: Mahalanobis model  

11. Nobel Prize started in Economics since: 

Ans: 1969

12. The Antyodaya programme was started first of all in the state of?  

Ans: Rajasthan  

13. India became a member of the International Monetary Fund in:  

Ans: 1947

14. Who gave the definition "Economics is the Science of Wealth"?

Ans: Adam Smith

15. First anytime milk ATM established at:  

Ans: Anand (Gujarat)

16. Economic Planning is an area coming under: 

Ans: Concurrent list

17. One Hectare is approximately how many acres?

Ans: 2.471 acres

18. The first Thermal Power Plant in Kerala is situated at;

Ans: Kayamkulam

19. The first flowing ATM in the world is set up in a Jankar Boat operating between _____. 

Ans: Kochi and Vypin

20. Lakadawala Commission was related with: 

Ans: Poverty Line

21. Deccan Odyssey is a luxurious train that services through the tourist centers of which state?

Ans: Maharashtra

22. Who is the chairman of the 14th Finance Commission?

Ans: Y V Reddy

23. Wall street is the headquarters of _____ Stock Exchange?

Ans: New York  

24.  'Das capital' was written by:  

Ans: Karl Marx

25. 'Yellow revolution' is associated with the production of:

Ans: Oil seeds

26. Which Five Year Plan marked the beginning of economic liberalisation?

Ans: 6th

27. The Kerala villages selected by UNDP for local self tourism development?

Ans: Aranmula and Kumbalangy

28. The first Asian country to introduce VAT (Value Added Tax) was:    

Ans: South Korea

29. Name the currency of Brazil:

Ans: Real

30. The headquarters of APEC located in which city?

Ans: Singapore

31. ASEAN is referred to:

Ans: Association of South East Asian Nations

32. The principle source of States own tax revenues is _____which accounts for about 60 per cent of the total.

Ans: Sales Tax

APEC:

Ä Asia Pacific Economic Co-operation (APEC) is a forum for 21 Pacific Rim member economies that promotes free trade through the Asia- Pacific region.

Ä It was established in 1989. 

Ä Venue of 2015 APEC Summit is Peru. APEC currently has 21 members, including most countries with a coastline on the Pacific Ocean.