Economics MCQ-Kerala PSC degree level Exam

Economics MCQ-Kerala PSC degree level Exam

Kerala PSC degree level Exam Questions & Answers

  1. Which of the following is not correct?
    a) The headquarters of European Union is in Brussels
    b) ASEAN was established in 1976
    c) The headquarter of SAARC is in Kathmandu
    d) NAFTA was established in 1992
  2. What is the export target of India’s new foreign trade policy
    a) $ 450 bn b) $ 800 bn
    c) $ 900 bn d) $ 325 bn
  3. Where will be the headquarter of BRICS Bank?
    a) New Delhi b) Riode Janeiro
    c) Pretoria d) Shanghai
  4. TRIFED was developed for the
    a) The development of forest covers in the country
    b) To save the interest of the tribal from the exploitation of
    private traders
    c) To promote the marketing of all the horticulture products
    d) None of these
  5. Choose the right statement
    I) The ISOPOM was introduced in 2004
    ii) Under the scheme, crop diversification is possible as states
    are given flexibility in implementation
    a) I only b) ii only
    c) Both d) None
  6. Who is the current CEO of the NITI Aayog?
    a) Rajeev Kumar b) Arvind Subramanian
    c) Amitabh kant d) Narendra modi
  7. Which of the following statement is correct about the NITI
    a) Niti Aayog was formed on 25 january 2016
    b) Niti Aayog comes under the Ministry of Commerce and
    c) The full form of Niti Aayog is National Institute for Transforming India
    d) The NITI Aayog is a policy think tank of the
    govt of India
  8. When was NITI Aayog established?
    a) 1 January 2015 b) 25 January 2016
    c) 14 may 2014 d) 1 July 2015
  9. Which of the following statement is/are correct about the NITI
    i) The aim of NITI Aayog is to achieve sustainable development goals and to enhance cooperative federalism in the
    ii) The Prime Pinister of India is the exofficio chairperson of
    the NITI Aayog
    iii) There are 8 full time members in the NITI Aayog
    a) Only ii and iii b) Only ii
    c) Only i d) Only i and ii
  10. Who of the following is the part of governing council of NITI
    a) All Chief Ministers of the states
    b) Chief Ministers of Delhi and Puducherry
    c) Lieutenant Governor of Andaman and
    Nicobar Island
    d) all of the above
  11. Which of the following is not the function of the NITI Aayog?
    a) To evolve a shared vision of national development priorities sectors and strategies
    b) To foster cooperative federalism
    c) To give final approval to the five year plans of India
    d) To create knowledge, innovation and entreprneurial support system
  12. Which of the following is not matched correctly about NITI
    a) NITI Aayog head office- Delhi
    b) Narendra Modi- Chairman
    c) Parent Agency- Gov. of India
    d) NITI Aayog replaced: National development council
  13. Which of the following statement is true about) NITI Aayog?
    a) The aspirational district programme was launched by Prime
    Minister Narendra Modi on January 5, 2018 and released in
    June 2018
    b) Virudhu Nagar (Tamil Nadu), Naupada (Odisha) and
    Sidharth Nagar (Uttar Pradesh) have emerged as the top
    three districts in the ranking of aspirational district’s by NITI
    Aayog for the period June I 2018 and October 31, 2018.
    c) NITI Aayog replaced planning commission of India
    d) All are true
  14. Choose the correct statement with regard to foreign trade
    during colonial rule?
    i) India had to import certain primary products such as raw
    silk, cotton, wool, sugar, indigo, jute etc…..
    ii) Finished consumer goods like cotton, silk and woolen
    clothes and capital goods were exported from Britain
    a) Only i b) only ii
    c) Both i and ii d) neither (i) nor (ii)
  15. Choose the correct statement
    i) Nearly three-fourth parts of Indian foreign trade during
    colonial rule was with nearby countries like china, Ceylon
    and Persia
    ii) The remaining foreign trade was with Britain only
    a) Both are correct b) Both are incorrect
    c) (i) correct (ii) incorrect d) (ii) correct (i) incorrect
  16. Consider the following statements regarding the integrated
    goods and service tax (IGST) under GST?
    i) The IGST would roughly be equal to (GST (Centre) plus
    SGST (State)
    ii) The interstate seller would pay IGST on the sale of his
    goods to the central govt after adjusting credit of IGST, CGST
    and SGST on his purchase (in that order)
    a) Only (i) b) only (ii)
    c) Both i and ii d) neither i nor ii
  17. GST will be administered as a single taxation’’ system in india,
    choose the correct statement
    i) Keeping in mind the federal structure of india, there will be
    only one compounds of GST ie central GST ( CGST)
    ii) Centre would levy and collect central goods and services
    tax (CGST) and states would levy and collect the state goods
    and services tax (SGST) on all transactions within a state
    a) Only i b) Only ii
    c) Both i and ii d) Neither i nor ii
  18. Which of the following state level taxes being subsumed into GST?
    a) Subsuming of state value aded tax/sales tax
    b) Entertainment tax
    c) Luxury tax
    d) All of the above
  19. Which of the following central level taxes being subsumed
    into GST?
    a) Octroi and Entry tax b) Service Tax
    c) Purchase tax d) All of the above
  20. which of the following is true regarding the benefits of GST
    for both the level of government i.e. the central government
    and the state government?
    i) Simple and easy to administer
    ii) Better controls on leakage
    iii) Higher revenue efficiency
    iv) Relief in overall tax burden on governments
    a) i, ii and iii b) i and ii
    c) ii and iii d) all of the above


1 (b) 2 (c)3 (d) 4 (b) 5 (c) 6 (c) 7 (d) 8 (a) 9 (d) 10 (d) 11 (c)
12 (d) 13 (d) 14 (b) 15 (b) 16 (c) 17 (a) 18 (d) 19 (b) 20 (a)

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