MCQ Subject: Economics

Which of the following best describes the components that collectively make up Gross Domestic Product (GDP)?

Which year marked the implementation of the Goods and Services Tax (GST) in India, a major indirect tax reform?

What characterizes a ‘Liquidity Trap’ in the context of monetary policy?

Which commission’s recommendations led to the establishment of the Reserve Bank of India?

Which of the following methods is primarily used by India to calculate its Gross Domestic Product (GDP)?

Which of the following is NOT a tool of fiscal policy used to control inflation?

What is the fundamental principle behind the concept of Opportunity Cost in Economics?

What does a fiscal deficit primarily indicate in a country’s economic scenario?

A condition in which extremely low interest rates fail to stimulate spending or investments, as individuals opt to hold cash, is known as _______.