SET 7 – Economy Questions and Answers

Important questions and answers of GK Set-7 related to Economics language for various competitive exams

Economy GK – Set 7: – GK Questions related to Economics below Section-7 Questions and answers have been written . All the economics related question banks, railways, SSC etc. published in this section will be important and helpful for you in all examinations.

Question 1. Which country was the first consumer rights declaration?
A. Australia
B. China
C. Japan
D. United States

Show Answer
Answer: United States

Question 2. In which year was the new currency Euro introduced?
A. In 1954
B. In 1958
C. In 1999
D. In 2004

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Answer: In 1999

Question 3. From which point of view, cottage and small scale industry is necessary in Indian economy?
A. Low Cost
B. Employment Generation
C. Income Generation
D. None of these

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Answer: Job creation

Question 4. When was the Bombay Stock Exchange established?
A. 1952 AD
B. 1862 AD
C. 1875 AD
D. 1963 AD

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Answer: 1875 AD

Question 5. When was the Industrial and Financial Exchange Board established?
A. 1954
B. 1932
C. 1992
D. 1997

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Answer: 1992

Question 6. What is called by the government to replace the old currency with the new currency?
A. Demonetization
B. Currency contraction
C. Devaluation
D. Malthus

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Answer: Demonetization

Question 7. In which year was the first Regional Rural Bank established?
A. In 1997
B. In 1975
C. In 1956
D. In 1854

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Answer: in 1975

Question 8. In which year NABARD was established?
A. In 1952
B. In 1856
C. In 1956
D. In 1982

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Answer: in 1982

Question 9. In an economy, what is the relationship between the price of currency and the price level of ___?
A. Anulom
B. static
C. Inverse
D. None of these

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Answer: Inverse

Question 10. In terms of coconut production, which country has the first place in the world?
A. Indonesia
B. India
C. Sri Lanka
D. Bangladesh

View Answer
Answer: Indonesia

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