The general awareness section is one of the most important scoring sections in the MBA entrance exams, such as CMAT, TISSNET, XAT, IIFT, etc. In the GK (General Knowledge) section, there will be two types of question that may arrive, which includes static GK and Current affairs. In this article, we will provide you with some important static GK questions and answers in PDF, which consist of important Indian Economy related questions. One can download the PDF by clicking the given below link.<\/p>\n
Download Static GK Questions For MBA Exams (Economy)<\/a><\/p>\n Enroll For CMAT 2026 Course<\/a><\/p>\n Question 1:\u00a0<\/b>In the context of economy, what is the full form of \u2018NEER\u2019?<\/p>\n a)\u00a0Normal Efficient Exchange Return<\/p>\n b)\u00a0New Easy Exchange Rate<\/p>\n c)\u00a0Nominal Effective Exchange Rate<\/p>\n d)\u00a0Negotiable Effective Exchange Return<\/p>\n e)\u00a0Net Effective Exchange Rate<\/p>\n 1)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n NEER \u21d2 Nominal Effective Exchange Rate Question 2:\u00a0<\/b>Who formulated the economic liberalisation policies in India?<\/p>\n a)\u00a0Rajiv Gandhi<\/p>\n b)\u00a0PV Narsimha Rao<\/p>\n c)\u00a0Atal Bihari Vajpayee<\/p>\n d)\u00a0Raghuram Rajan<\/p>\n e)\u00a0Dr. Manmohan Singh<\/p>\n 2)\u00a0Answer\u00a0(E)<\/strong><\/p>\n Solution:<\/b><\/p>\n Dr. Manmohan Singh\u00a0formulated the economic liberalisation policies in India<\/p>\n Question 3:\u00a0<\/b>NABARD was founded in which year?<\/p>\n a)\u00a01998<\/p>\n b)\u00a01982<\/p>\n c)\u00a01995<\/p>\n d)\u00a01987<\/p>\n 3)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Question 4:\u00a0<\/b>Which of the following belongs to primary sector.<\/p>\n a)\u00a0Textiles<\/p>\n b)\u00a0Factories<\/p>\n c)\u00a0Food Processing<\/p>\n d)\u00a0Oil refineries<\/p>\n e)\u00a0Mining<\/p>\n 4)\u00a0Answer\u00a0(E)<\/strong><\/p>\n Solution:<\/b><\/p>\n Mining belongs to the primary sector .<\/p>\n Question 5:\u00a0<\/b>What is meant by gilt-edged markets?<\/p>\n a)\u00a0Market of private securities<\/p>\n b)\u00a0Market of govt securities<\/p>\n c)\u00a0Market of international securities<\/p>\n d)\u00a0None of the above<\/p>\n 5)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Question 6:\u00a0<\/b>Stagflation is the simultaneous appearance of :<\/p>\n a)\u00a0slow growth, high employment, and rising prices in an economy<\/p>\n b)\u00a0fast growth, high unemployment, and falling prices in an economy<\/p>\n c)\u00a0fast growth, high employment, and falling prices in an economy<\/p>\n d)\u00a0slow growth, high unemployment, and rising prices in an economy<\/p>\n e)\u00a0slow growth, high unemployment, and falling prices in an economy<\/p>\n 6)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n Stagflation is the simultaneous appearance of slow growth, high unemployment, and rising prices in an economy. Question 7:\u00a0<\/b>Who maintains foreign exchange reserves in India?<\/p>\n a)\u00a0SEBI<\/p>\n b)\u00a0Ministry of Finance, Government of India<\/p>\n c)\u00a0State Bank of India<\/p>\n d)\u00a0Reserve Bank of India<\/p>\n e)\u00a0EXIM Bank<\/p>\n 7)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n The reserves are managed by the Reserve Bank of India for the Indian government and the main component is foreign currency assets. Foreign-exchange reserves act as the first line of defense for India in case of economic slowdown, but acquisition of reserves has its own costs.<\/p>\n Question 8:\u00a0<\/b>Human Development Index was first developed in which year?<\/p>\n a)\u00a01985<\/p>\n b)\u00a01980<\/p>\n c)\u00a01995<\/p>\n d)\u00a02001<\/p>\n e)\u00a01990<\/p>\n 8)\u00a0Answer\u00a0(E)<\/strong><\/p>\n Solution:<\/b><\/p>\n Pakistani economist Mahbub ul Haq created HDI in 1990 which was further used to measure the country’s development by the United Nations Development Program (UNDP).<\/p>\n Question 9:\u00a0<\/b>How many women has served as RBI governor in India.<\/p>\n a)\u00a02<\/p>\n b)\u00a00<\/p>\n c)\u00a01<\/p>\n d)\u00a03<\/p>\n e)\u00a05<\/p>\n 9)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n The Reseve Bank of India has never had a female Governor since it was formed on April 1 1935.<\/p>\n Question 10:\u00a0<\/b>What is the abbreviation of PAN?<\/p>\n a)\u00a0Permanent Account Number<\/p>\n b)\u00a0Personal Access Number<\/p>\n c)\u00a0Private Account Number<\/p>\n d)\u00a0Public Access Number<\/p>\n 10)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Enroll for TISSNET 2023 Crash Course<\/a><\/p>\n Get 5 TISSNET Mocks – Just Rs. 299<\/a><\/p>\n Question 11:\u00a0<\/b>Who introduced Income Tax in India?<\/p>\n a)\u00a0Jawaharlal Nehru<\/p>\n b)\u00a0B R Ambedkar<\/p>\n c)\u00a0Lord WIlliam Bentick<\/p>\n d)\u00a0James Wilson<\/p>\n 11)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Question 12:\u00a0<\/b>What is NPA?<\/p>\n a)\u00a0It is a loan\/advance for which the principal\/interest payment remained overdue for a period of 120 days.<\/p>\n b)\u00a0It is a loan for which the interest payment remained overdue for a period of 180 days.<\/p>\n c)\u00a0It is a loan\/advance for which the principal\/interest payment remained overdue for a period of 90 days.<\/p>\n d)\u00a0It is a loan for which the interest payment remained overdue for a period of 150 days.<\/p>\n e)\u00a0None of the above<\/p>\n 12)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n NPA is a loan\/advance for which the principal\/interest payment remained overdue for a period of 90 days. Question 13:\u00a0<\/b>What are the sources of revenue for the central government in India?<\/p>\n a)\u00a0Taxes on income and expenditure<\/p>\n b)\u00a0State tax revenue<\/p>\n c)\u00a0Income from state-run enterprises<\/p>\n d)\u00a0None of the above<\/p>\n 13)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Question 14:\u00a0<\/b>Which of the following is not the purpose of International Monetary Fund.<\/p>\n a)\u00a0To foster global monetary cooperation.<\/p>\n b)\u00a0To secure financial stability<\/p>\n c)\u00a0To promote international trade .<\/p>\n d)\u00a0To give loans to countries<\/p>\n e)\u00a0To reduce poverty around the world<\/p>\n 14)\u00a0Answer\u00a0(D)<\/strong><\/p>\n Solution:<\/b><\/p>\n IMF do not give loans to countries, hence option D is the correct answer .<\/p>\n Question 15:\u00a0<\/b>Octroi tax comes under which type of Tax<\/p>\n a)\u00a0Direct Tax<\/p>\n b)\u00a0Indirect Tax<\/p>\n c)\u00a0Wealth Tax<\/p>\n d)\u00a0None of these<\/p>\n 15)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Question 16:\u00a0<\/b>The term \u201cbull and bear\u201d is associated with ____________.<\/p>\n a)\u00a0Banking sector<\/p>\n b)\u00a0Stock market<\/p>\n c)\u00a0Bull fighting<\/p>\n d)\u00a0Parliament of India<\/p>\n 16)\u00a0Answer\u00a0(B)<\/strong><\/p>\n Solution:<\/b><\/p>\n The term \u201cbull and bear\u201d is associated with\u00a0the Stock market.<\/p>\n Question 17:\u00a0<\/b>What is Disguised Unemployment?<\/p>\n a)\u00a0It is a type of unemployment where people employed are less than actually needed.<\/p>\n b)\u00a0It is a type of unemployment where there is a\u00a0major mismatch between the worker\u2019s skills and the availability of jobs.<\/p>\n c)\u00a0It is a type of unemployment where people employed are more than actually needed.<\/p>\n d)\u00a0It is a type of unemployment where people are working for a very short period of time with a contract.<\/p>\n e)\u00a0It is a type of unemployment where people are working for a short period of time without a contract.<\/p>\n 17)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n Disguised Unemployment is a type of unemployment where people employed are more than actually needed. Question 18:\u00a0<\/b>Which country had first adopted GST?<\/p>\n a)\u00a0France<\/p>\n b)\u00a0India<\/p>\n c)\u00a0China<\/p>\n d)\u00a0Japan<\/p>\n 18)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Question 19:\u00a0<\/b>What does D stand for in NDTL used in economics?<\/p>\n a)\u00a0Demand<\/p>\n b)\u00a0Development<\/p>\n c)\u00a0Domestic<\/p>\n d)\u00a0Derivative<\/p>\n 19)\u00a0Answer\u00a0(A)<\/strong><\/p>\n Question 20:\u00a0<\/b>The unemployment rate in india is calculated by which of the following?<\/p>\n a)\u00a0RBI<\/p>\n b)\u00a0BLO<\/p>\n c)\u00a0NSSO<\/p>\n d)\u00a0CSO<\/p>\n 20)\u00a0Answer\u00a0(C)<\/strong><\/p>\n Solution:<\/b><\/p>\n The unemployment rate in india is calculated by NSSO(National Sample Survey Office). Candidates can <\/span>Join our Telegram group of MBA aspirants<\/a><\/strong> for quick and regular exam updates.<\/p>\n
\nHence, option c is the correct answer.<\/p>\n
\nHence, option d is the correct answer.<\/p>\n
\nHence, option c is the correct answer.<\/p>\n
\nHence, option c is the correct answer.<\/p>\n
\nHence, option c is the correct answer.<\/p>\n