List of top Indian Economy Questions asked in Indian Institute Of Technology Joint Admission Test for MSc

Which of the following is NOT CORRECT?
Suppose an Indian company borrowed 300 dollars from a foreign bank at the beginning of the year and repaid it in dollars along with the agreed interest rate of 12 percent per annum. At the time of borrowing, the exchange rate was Rs. 70 per dollar. Assuming zero inflation rate in both the countries, the real cost of borrowing will be zero if the exchange rate is Rs. per dollar at the time of repayment (rounded off to one decimal place).
Suppose the cash reserve ratio is 5 percent in a country. Assume that commercial banks keep zero excess reserve and the cash-to-deposit ratio is 5 percent. To increase the money supply by Rs. 10,500 crores, the central bank of the country should inject Rs. crores (in integer).
The Rangarajan Panel on 4th June 1993 submitted recommendations related to Balance of Payment (BoP). Which one of the following was NOT a part of the Panel’s recommendations?
An individual owns a mobile phone, currently valued at Rs. 40,000. The current wealth of the individual is Rs. 2,00,000 (including the value of the mobile phone). According to reports, there is a 20 percent chance of mobile phone theft and an actuarially fair insurance policy is available to insure the loss of the mobile phone against a theft. The individual’s von-Neumann-Morgenstern utility of wealth function is given by $𝑈(𝑊) = \sqrt{𝑊}$, where 𝑊 is the wealth. Then, the maximum willingness to pay for such an actuarially fair insurance policy is Rs. _____ (rounded off to nearest integer).
Which of the following is/are NOT CORRECT?
According to the NITI Aayog’s “National Multidimensional Poverty Index: A Progress Review 2023”, which of the following is/are CORRECT?
According to the “State of Inequality in India Report” from the Institute for Competitiveness, released on 18th May 2022, which of the following statements is CORRECT?
Which of the following are the direct instruments exercised by the Reserve Bank of India to control the money supply?
(i) Cash Reserve Ratio 
(ii) Open Market Operations 
(iii) Foreign Exchange Rate 
(iv) Statutory Liquidity Ratio
Matching List-I and List-II, choose the CORRECT option.
List-I List-II
(a)Fiscal Deficit(i)Difference between Government revenue expenditure and Government revenue receipts
(b)Revenue Deficit(ii)Difference between Government total expenditure and Government total non-debt receipts minus interest payments
(C)Primary Deficit(iii)Difference between Government total expenditure and Government total non-debt receipts
Matching List-I and List-II, choose the CORRECT option.

List-I 
(Regulatory and Supervisory Financial Institutions)

 

List-II

(Established as statutory bodies via Parliamentary Acts in year)

(a)Reserve Bank of India(i)2016
(b)Security and Exchange Board of India(ii)1934
(C)Insurance Regulatory Development Authority of India(iii)1992
(d)Insolvency and Bankruptcy Board of India(iv)1999
Which of the following committees for the first time recommended for India
(i) use of implicit prices derived from quantity and value data collected in household consumer expenditure surveys for computing and updating the poverty lines 
(ii) Mixed Reference Period (MRP) in estimating poverty lines
Which of the following major developments have been undertaken after the initiation of structural reforms in 1991 of the Indian Economy?
Which of the following Five Year Plans focused on rapid industrialization-heavy and basic industries, and advocated for a socialistic pattern of society as the goal of economic policy?
Which of the following deficits indicates the true current fiscal position of the Indian Economy?
ACD Bank holds a total deposit of Rs. 256412. To expand the money supply in the economy during the COVID-19 pandemic period, the Reserve Bank of India reduces the cash reserve ratio (CRR) from 4.5% to 3.5%. Due to this policy change, the additional money supply generated by ACD Bank is Rs. ____ (in integer).
Given the production function Q = 6√L and the supply of labour L = √w, where L and w denote the number of labours and wage rate, respectively. If the unit price of the product is Rs. 243, then the profit maximizing value of w is Rs. _____ (in integer).
Let the production function be Q = \(\sqrt{L^2 + K^2}\) the unit price of labour (L) and capital (K) be Rs. 30 and Rs. 40, respectively, and the total cost be Rs. 580. Then the maximum value of Q subject to the cost constraint is ______ (round off to 2 decimal places).
Which amendments to the constitution have provided constitutional status to the rural and urban local bodies in India?
Match List I with List II and choose the CORRECT option.

List I

List II

a.Second Five Year Plan (1956-61)i.Towards Faster and More
Inclusive Growth
b.Fourth Five Year Plan (1969-74)ii.Removal of Poverty and
Attainment of Self-reliance
c.Fifth Five Year Plan (1974-79)iii.Rapid Industrialization-Heavy
and Basic Industries
d.Eleventh Five Year Plan (2007-12)iv.Family Planning Programmes
Which of the following is NOT related to the structural adjustment programmes implemented in India after 1991?
Which of the following measures was announced by the Government of India in the year 1994?
Matching List I and List II, choose the CORRECT option(s).
List IList II
a. Bombay Plani. J. P. Narayan
b. People's Planii. J. R. D. Tata
c. Sarvodaya Planiii. M. N. Roy
In the context of Indian agriculture, which of the following statements is/are CORRECT?