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Economics Quiz - 5 Aug 2026

32 MCQs on Economics for government exam practice.

32Questions

MediumLevel

40%Pass mark

24mTime limit

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Question 1 Choose the correct option — Indirect tax example:

A GST
B Corporate tax
C Income tax
D Wealth tax old

Question 2 Services sector share in GDP is:

A Usually largest in recent India
B Always zero
C Only mining
D Only agriculture

Question 3 Which of the following is correct? (Union Budget presented by:)

A CAG
B RBI
C Finance Minister
D President

Question 4 Choose the correct option — Economic Survey is prepared by:

A RBI
B NITI only
C Finance Ministry / CEA
D Planning Commission

Question 5 Monetary policy is mainly formulated by:

A Finance Ministry
B SEBI
C NITI Aayog
D RBI

Question 6 Fiscal policy is related to:

A Money supply only
B Stock markets
C Govt spending & taxation
D Foreign exchange only

Question 7 Black money generally means:

A RBI reserves
B Foreign aid
C Legal cash
D Undisclosed / illegal income

Question 8 MSME stands for:

A Mega State Market Entity
B Main Stock Market Exchange
C Ministry of Small Money Exchange
D Micro Small Medium Enterprises

Question 9 Which of the following is correct? (Which body regulates mutual funds in India)

A SEBI
B IRDAI
C RBI
D PFRDA only

Question 10 FDI stands for:

A Foreign Direct Investment
B Federal Debt Instrument
C Foreign Development Income
D Fiscal Deficit Index

Question 11 Which of the following is correct? (FDI expands to:)

A Fast Data Internet
B Foreign Direct Investment
C Fiscal Deficit Index
D Federal Debt Instrument

Question 12 Wholesale price index:

A WPI
B HDI
C IIP
D CPI

Question 13 Choose the correct option — Who publishes CPI in India?

A RBI only
B NABARD
C SEBI
D NSO / MoSPI

Question 14 GDP means:

A Gross Demand Price
B General Debt Plan
C Government Deposit Pool
D Gross Domestic Product

Question 15 Disinvestment means selling:

A Govt stake in PSUs
B Olympic tickets
C Forest land only
D Private homes only

Question 16 Choose the correct option — CPI mainly published via:

A NSO/MoSPI system
B ISRO
C SEBI only
D BCCI

Question 17 Choose the correct option — Which sector contributes most to India's GDP (recent decades)?

A Forestry
B Mining only
C Services
D Agriculture

Question 18 Repo is rate at which RBI:

A Prints newspapers
B Buys gold from public
C Lends to banks
D Pays salaries

Question 19 Which of the following is correct? (Fiscal policy deals with:)

A Only Wi-Fi speed
B Only cricket
C Govt spending and taxes
D Only rainfall

Question 20 HDI published by:

A WTO only
B UNDP
C FIFA
D ICC

Question 21 Disinvestment means:

A Selling govt stake in PSUs
B Printing money
C Buying PSUs
D Raising repo

Question 22 Choose the correct option — Direct tax example:

A GST
B Excise old retail
C Income tax
D Customs

Question 23 Mutual funds regulated by:

A FSSAI
B DGCA
C SEBI
D IRDAI only

Question 24 Which tax is an indirect tax?

A GST
B Corporate tax
C Wealth tax (old)
D Income tax

Question 25 GDP stands for:

A Gross Demand Price
B Government Debt Position
C General Development Plan
D Gross Domestic Product

Question 26 Green Revolution crops focus:

A Tea
B Wheat and rice
C Coffee
D Rubber only

Question 27 Which is a direct tax?

A GST
B Income tax
C Customs duty
D Excise (old)

Question 28 Five-Year Plan linked to Garibi Hatao:

A Sixth
B Fourth
C Third
D Fifth

Question 29 Monetary policy lead institution:

A SEBI
B IRDAI
C NITI
D RBI

Question 30 Which of the following is correct? (NITI Aayog focuses on:)

A Defence only
B Cooperative federalism & policy
C Central planning only
D Tax collection

Question 31 Which of the following is correct? (GST Council is chaired by:)

A Finance Minister
B President
C PM
D RBI Governor

Question 32 Inflation means:

A Rise in employment
B Fall in prices
C Rise in general price level
D Fall in money supply

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About this quiz

Economics practice set for UPSC, SSC, Bank, Railway and State exams — 5 Aug 2026.

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This set has 32 questions.

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