01. Which of the following is a characteristic of the Indian economy? Not there-
a) low efficiency of labor
b) low per capita income
c) low rate of capital formation
d) lack of natural resources
Show Answer
D; Explanation Coming Soon...
02. Since the beginning of the era of economic planning, India's gross share of agriculture in national income-
a) kept on decreasing.
b) continued to increase.
c) first increased and then decreased.
d) first decreased and then increased.
Show Answer
A; Explanation Coming Soon...
03. Hindu growth rate in India is related to which of the following?
a) birth rate
b) population
c) per capita income
d) National Income
Show Answer
D; Explanation Coming Soon...
04. Who among the following has chosen Gross National Happiness as an indicator of progress?
a) Bhutan
b) Japan
c) Sweden
d) Switzerland
Show Answer
A; Explanation Coming Soon...
05. Which of the following reasons was mainly responsible for the slow growth in per capita annual income in India?
1. Rapid increase in population
2. Huge increase in prices
3. Slow pace of development in agriculture and industrial sectors
4. Non-availability of foreign exchange
Select the correct answer using the codes given below-
a) 1 and 2
b) 1, 2 and 3
c) 1 and 4
d) all of the above
Show Answer
B; Explanation Coming Soon...
06. If both prices and money income double in a given period of time, then real income-
a) will double
b) will remain half
c) will remain unchanged
d) prices do not affect real income
Show Answer
C; Explanation Coming Soon...
07. Despite the high rate of savings and capital formation in India, what is the reason for the low growth rate?
a) high birth rate
b) Low level of foreign aid
c) Low capital output ratio
d) high capital output ratio
Show Answer
D; Explanation Coming Soon...
08. Who does the work of collecting data on capital formation in India?
a) Reserve Bank of India and Central Statistical Organization
b) Reserve Bank of India and State Bank of India
c) Reserve Bank of India and all commercial banks
d) Central Statistical Organization and National Sample Survey
Show Answer
A; Explanation Coming Soon...
09. In which year's Human Development Report, the Multidimensional Poverty Index was presented instead of the Human Poverty Index?
a) 1997
b) 2008
c) 2011
d) 2010
Show Answer
D; Explanation Coming Soon...
10. Which of the following is not included in the Human Development Index? Is-
a) life expectancy
b) real per capita income
c) social inequality
d) Adult literacy
Show Answer
C; Explanation Coming Soon...
11. In which year the Human Poverty Index was developed?
a) 1991
b) 1995
c) 1997
d) 2001
Show Answer
C; Explanation Coming Soon...
12. How can India be defined?
a) As a food deficient economy
b) As a labor surplus economy
c) As a trade-surplus economy
d) As a capital-surplus economy
Show Answer
B; Explanation Coming Soon...
13. If both prices and money income double in a given period of time, then real income-
a) will double
b) will remain half
c) will remain unchanged
d) prices do not affect real income
Show Answer
C; Explanation Coming Soon...
14. The idea that "Indian planning in future should focus more on people than things" was expressed by whom?
a) by Amartya Sen
b) by Yashwant Sinha
c) By Atal Bihari Vajpayee
d) by Manmohan Singh
Show Answer
A; Explanation Coming Soon...
15. Economic liberalization started in India-
a) With substantive change in industrial licensing policy
b) With the convertibility of the Indian Rupee
c) Removal of legal formalities in FDI
with doing
d) With a significant cut in tax rates
Show Answer
A; Explanation Coming Soon...
16. The Economic Survey of India is officially published every year-
a) Reserve Bank of India
b) by NITI Aayog of India
C) Ministry of Finance, Government of India
d) by the Ministry of Industry, Government of India
Show Answer
C; Explanation Coming Soon...
17. Which of the following is not a feature of the Indian economy?
a) low efficiency of labor
b) low per capita income
c) Minimum rate of capital formation
d) lack of natural resources
Show Answer
D; Explanation Coming Soon...
18. Without sacrificing the comforts of the present population which of the following is the definition of the concept of saving energy and other resources for the future?
a) economic growth
b) economic development
c) sustainable development
d) Human Development
Show Answer
C; Explanation Coming Soon...
19. Which one of the following is helpful in promoting inclusive growth?
Not expected?
a) High growth rate of national income
b) Rural Development
c) Agricultural Development
d) Adequate credit to farmers
Show Answer
A; Explanation Coming Soon...
20. Agricultural income tax can be imposed in India-
a) by the state governments
b) by the central government
C) by local governments
d) by the central and state governments
Show Answer
A; Explanation Coming Soon...
21. Where was the Weather Based Crop Insurance Scheme implemented for the first time?
a) in Haryana
b) in Karnataka
c) in Punjab
d) in Tamil Nadu
Show Answer
B; Explanation Coming Soon...
22. The expression "national income" denotes-
a) Gross National Product at market prices less depreciation
b) Gross National Product at market prices less depreciation plus net factor income from abroad
C) Gross National Product at market prices, deducting depreciation and indirect taxes, adding subsidies
d) Gross National Product at market prices less net factor income from abroad
Show Answer
C; Explanation Coming Soon...
23. What do you understand by closed economy?
a) exports stopped
b) import-export stopped
c) stop import
d) controlled capital
Show Answer
B; Explanation Coming Soon...
24. Green Index has been developed by whom?
a) Environmental and Social Sustainable Development Division of the World Bank
b) United Nations Environment Program
c) United Nations Development Program
d) Kyoto Protocol
Show Answer
A; Explanation Coming Soon...
25. Which state of India first published the Human Development Report?
a) Himachal Pradesh
b) Kerala
c) Madhya Pradesh
d) Andhra Pradesh
Show Answer
C; Explanation Coming Soon...
26. Which one of the following is an indicator of economic growth?
a) increase in national income at constant prices during the year
b) Steady growth in real per capita income
c) increase in national income at current prices over a period
d) Increase in national income with increase in population
Show Answer
B; Explanation Coming Soon...
27. Whose interests does the Indian model of development protect?
a) person
b) state
c) Individual and State
d) humanity
Show Answer
C; Explanation Coming Soon...
28. On what is Gandhian economy based?
a) on competition
b) on trust
c) state control
d) none of these
Show Answer
B; Explanation Coming Soon...
30. What is meant by venture capital?
a) short term capital provided to industries
b) Long term seed capital provided to new entrepreneurs
c) Funds made available to industries when they are incurring losses
d) Funds provided for replacement and renovation of industries
Show Answer
B; Explanation Coming Soon...