RRB NTPC Economics and Finance

Question 1

What does GDP stand for in economics?

Accepted Answer

Gross Domestic Product

Answer

GDP stands for Gross Domestic Product, which measures the total monetary value of all goods and services produced within a country's borders in a given period.

Question 2

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

Accepted Answer

Reserve Bank of India (RBI)

Answer

The Reserve Bank of India (RBI) is India's central bank and is responsible for regulating the money supply and maintaining financial stability through monetary policy.

Question 3

What is the full form of NITI Aayog?

Accepted Answer

National Institution for Transforming India

Answer

NITI Aayog stands for National Institution for Transforming India, which replaced the Planning Commission in January 2015.

Question 4

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

Accepted Answer

Indirect tax

Answer

GST is an indirect tax levied on the supply of goods and services, collected by the seller from the buyer and remitted to the government.

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

Fiscal deficit = Total Expenditure − Total Receipts (excluding borrowings); it represents the amount the government needs to borrow to meet its expenses.

RRB NTPC Practice Test

RRB NTPC Practice Test

RRB NTPC Economics and Finance