RRB NTPC Economics and Finance

Question 1

What does GDP stand for in economics?

Accepted Answer

Gross Domestic Product

Answer

General Development Plan

Answer

Gross Development Potential

Answer

Global Demand Parameter

Question 2

Which organization is responsible for formulating and implementing monetary policy in India?

Accepted Answer

Reserve Bank of India (RBI)

Answer

Ministry of Finance

Answer

SEBI

Answer

NITI Aayog

Question 3

What is the full form of NITI Aayog?

Accepted Answer

National Institution for Transforming India

Answer

National Integrated Trade and Industry Organization

Answer

New Initiative for Total Infrastructure

Answer

National Institute for Technology Integration

Question 4

Goods and Services Tax (GST) is classified as which type of tax?

Accepted Answer

Indirect tax

Answer

Direct tax

Answer

Progressive tax

Answer

Wealth tax

Question 5

Fiscal deficit is defined as the difference between the government's total expenditure and its total receipts excluding which of the following?

Accepted Answer

Borrowings

Answer

Tax revenues

Answer

Non-tax revenues

Answer

Grants

Question 6

India's First Five Year Plan was launched in which year?

Accepted Answer

1951

Answer

1947

Answer

1950

Answer

1956

Question 7

Which of the following best describes inflation?

Accepted Answer

A sustained increase in the general price level

Answer

A sustained decrease in the general price level

Answer

A temporary rise in the value of currency

Answer

A reduction in government expenditure