More MCQs
701.

Net National gains from trade is measurable function of:

A. volume of trade
B. relative prices in two countries
C. factor cost of commodities traded
D. volume of trade credited and change in prices caused by trade
Answer» D. volume of trade credited and change in prices caused by trade
702.

Outward looking development policies are not associated with:

A. open system of communications
B. free movement of capital
C. multinational enterprises
D. learning by doing
Answer» D. learning by doing
703.

Import quota is :

A. tariff
B. non-tariff trade barrier
C. concession
D. international obligation
Answer» B. non-tariff trade barrier
704.

Balance of payments must always balance because:

A. trade deficit is cancelled by invisible credits
B. import always equals exports
C. of an accounting connection
D. what a country gets, it must either pay or save
Answer» C. of an accounting connection
705.

Trade Policy measures for correction of balance of payments disequilibrium include of export promotion:

A. export promotion
B. import control
C. both a & b
D. import substitution
Answer» C. both a & b
706.

In calculating India’s balance of payments position, we must:

A. omit invisible items
B. omit exports and imports of gold
C. include expenditure by foreign tourists as imports
D. include long term loans abroad as debit
Answer» B. omit exports and imports of gold
707.

The convertibility of dollar was formally abandoned in:

A. 1971
B. 1966
C. 1973
D. 1962
Answer» A. 1971
708.

Each member of IMF is assigned a quota expressed in:

A. member country’s currency
B. dollar
C. special drawing rights
D. none of the above
Answer» C. special drawing rights
709.

The international monetary system that existed from 1947 to 1971 is generally known as:

A. par value system
B. pegged exchange rate system
C. bothe a & b
D. fewer rupees in the spot market than in the home market
Answer» A. par value system
710.

The fundamental cause for the collapse of the Bretton woods system was:

A. liquidity problem
B. the adjustment problem
C. the confidence problem
D. all of the above
Answer» D. all of the above
711.

The direction of trade indicates:

A. the nature of goods that are exported and imported
B. the value of goods that are exported and imported
C. the countries to which commodities are exported and the countries from which commodities are imported
D. the terms at which exports exchanges for imports school of distance education indian economy
Answer» C. the countries to which commodities are exported and the countries from which commodities are imported
712.

The important component of foreign trade:

A. terms of trade, balance of trade and balance of payment
B. the volume of trade, the composition of trade and direction of trade
C. terms of trade and volume of trade
D. terms of trade and direction of trade
Answer» B. the volume of trade, the composition of trade and direction of trade
713.

The balance of payment in unfavorable:

A. when value of export is greater than import
B. when value of import is greater than export
C. when value of imports and exports are equal
D. only when there is much greater difference between exports and imports
Answer» B. when value of import is greater than export
714.

In which of the plan period, the Balance of payment position had surplus:

A. first plan
B. second plan
C. third plan
D. fifth plan
Answer» D. fifth plan
715.

The Mudaliar Committee was related to:

A. export-import policy
B. exim bank
C. small scale industries
D. banking sector
Answer» A. export-import policy
716.

EXIM Bank was set up in:

A. 1980
B. 1982
C. 1991
D. 2000
Answer» B. 1982
717.

The balance of payment on current account shows:

A. the record of the current position of the country in transfer of both visible and invisible items
B. the record of the financial position of the country
C. the extent of the financial position of the country
D. the record of the current position of visible items.
Answer» A. the record of the current position of the country in transfer of both visible and invisible items
718.

“Capitalism” refers to?

A. The use of market
B. Government ownership of capital
C. Private ownership of capital goods
D. Private ownership of homes & cars
Answer» C. Private ownership of capital goods
719.

What is the main cause of exports surplus?

A. Country’s stringent import policy
B. Developments in national and international markets
C. Country’s exports promotion value
D. above all
Answer» D. above all
720.

Which is the primary objective of economic planning in India

A. Reducing Inequalities of
B. Abolition of poverty
C. Growth with social justice
D. Removing unemployment
Answer» C. Growth with social justice
721.

Which of the following is associated with poverty estimation ?

A. Tendulkar committee
B. Lakdawala committee
C. Saxena committee
D. All the above
Answer» D. All the above
722.

Which of the following state introduced Employment Guarantee Scheme first?

A. Madhya Pradesh
B. Maharashtra
C. Tamil Nadu
D. Karnataka
Answer» B. Maharashtra
723.

Infant mortality

A. Defined as the annual number of deaths of infant under 1 year
B. Reflects the availability of primary education, the rights of
C. life expectancy up to age 3.
D. Reflects the availability of hospitals and
Answer» A. Defined as the annual number of deaths of infant under 1 year
724.

is below the income that secures the bare essentials of food, clothing,

A. Income inequality.
B. Absolute poverty.
C. Sen’s poverty index.
D. Purchasing-power poverty.
Answer» B. Absolute poverty.
725.

The unemployment rate is the

A. Employed plus unemployed divided by labor force.
B. Total employment divided by population.
C. Labor force divided by population.
D. Uunemployed divided by employed
Answer» A. Employed plus unemployed divided by labor force.
726.

In which type of unemployment do the marginal productivity of the workers is zero?

A. Disguised Unemployment
B. Involuntary unemployment
C. Seasonal unemployment
D. Structural Unemployment
Answer» A. Disguised Unemployment
727.

Which is the state with minimum sex ratio in India?

A. Chandigarh
B. Delhi
C. Haryana
D. Punjab
Answer» C. Haryana
728.

Which is the state with highest number of Scheduled Castes in India?

A. Andhra Pradesh
B. Bihar
C. Tamil Nadu
D. Uttar Pradesh
Answer» D. Uttar Pradesh
729.

Which country is the largest consumer of sugar in the world?

A. USA
B. CHINA
C. JAPAN
D. INDIA
Answer» A. USA
730.

Which is the largest sugar-producing country in the world?

A. INDIA
B. CHINA
C. BRAZIL
D. None of the above
Answer» C. BRAZIL
731.

When was cotton textile industry established in Mumbai?

A. 1854
B. 1855
C. 1948
D. 1956
Answer» A. 1854
732.

Which is the Indian state with the highest number of powerlooms?

A. Gujarat
B. Madhya Pradesh
C. Maharashtra
D. Tamil Nadu
Answer» C. Maharashtra
733.

Which of the following industries is not a heavy industriy.

A. Cotton textile
B. Cement
C. Iron and Steel
D. Ship building
Answer» A. Cotton textile
734.

Which one of the following agencies, markets steel for the public sector plants?

A. HAIL
B. SAIL
C. TATA Steel
D. MNCC
Answer» B. SAIL
735.

Where was oil discovered for the first time in India?

A. Digboi
B. Numaligarh
C. Bongaigon
D. Barauni
Answer» A. Digboi
736.

In production sector, a micro enterprise is an enterprise where investment in plant and

A. 10 LAKH
B. 15 LAKH
C. 12 LAKH
D. 25 LAKH
Answer» D. 25 LAKH
737.

Which of the following does not form part of current account under balance of payments?

A. Export and import of goods
B. Export and import of services
C. Income receipts and payments
D. Capital receipts and payments
Answer» D. Capital receipts and payments
738.

Balance in capital account refer to the

A. Nation’s net exports of goods and services
B. Nation’s net exports of financial claims
C. Nation’s net exports of international official reserve assets
D. Nation’s sum of net exports of goods, services and financial
Answer» D. Nation’s sum of net exports of goods, services and financial
739.

Balance in capital account refer to the

A. National Development Council (NDC)
B. Ministry of Finance
C. Planning Commission (now NITI Aayog)
D. President of India
Answer» A. National Development Council (NDC)
740.

When was the first five-year plan of India started?

A. 1949
B. 1950
C. 1952
D. 1951
Answer» D. 1951
741.

What as the prime target of the first five-year plan of India?

A. Development of the industries
B. Development of Agriculture
C. Development of infrastructure
D. Development of ports
Answer» B. Development of Agriculture
742.

Which programme given the slogan of Garibi Hatao?

A. 7th five-year plan
B. 3rd five year plan
C. 6th five year plan
D. 5th five-year plan
Answer» D. 5th five-year plan
743.

In which five-year plan India opted for a mixed economy?

A. First
B. Second
C. Third
D. Fourth
Answer» D. Fourth
744.

When was the plan holiday declared?

A. After the third plan
B. After the fourth plan
C. After the fifth plan
D. After the sixth plan
Answer» A. After the third plan
745.

National Development Council is consists of:

A. Members of the Planning Commission
B. Governors of the states
C. Chief Ministers of the states
D. A & C
Answer» D. A & C
746.

Three annual plan were launched between:

A. 1969 to 1972
B. 1966 to 1969
C. 1986 to 1989
D. 1988 to 1991
Answer» B. 1966 to 1969
747.

The best indicator of economic growth of any country is:

A. Agriculture
B. Transport
C. Gross Domestic Product
D. Population
Answer» C. Gross Domestic Product
748.

In agricultural sector net value added is estimated by

A. Income method
B. Expenditure method
C. Production method
D. All the three
Answer» C. Production method
749.

National income is

A. NDP at factor cost
B. NNP at factor cost
C. GNP at market prices
D. NNP at market prices
Answer» B. NNP at factor cost
750.

To get the Net National Product, what is deducted from the Gross National Product:

A. Direct Taxes
B. Imports
C. Interim payments
D. Depreciation
Answer» D. Depreciation
751.

Economic Development means economic growth with:

A. Price Stability
B. Social Change
C. Inflation
D. Deflation
Answer» B. Social Change
752.

The Planning Commission was formed on -

A. 26th January 1950
B. 15th August 1947
C. 15th March 1950
D. none
Answer» C. 15th March 1950
753.

The Planning Commission was dissolved on

A. 15th August 2017
B. 17th August 2014
C. 26th January 2015
D. none
Answer» B. 17th August 2014
754.

NITI Aayog, was formed via a resolution of the Union Cabinet on

A. 15th August 2017
B. 17th August 2014
C. 1st January 2015
D. none
Answer» C. 1st January 2015
755.

NITI Aayog is the premier ‘Policy Think Tank’ of the Government of India, providing

A. directional and policy inputs
B. Regulatory policy planning
C. Monetary instructions
D. none
Answer» A. directional and policy inputs
756.

The major objectives of NITI Aayog are to -

A. provides technical advice to the Centre and States
B. design strategic and long-term policies/ programmes for Govt.
C. Both of these
D. none
Answer» C. Both of these
757.

As per Union Budget documents, Nominal GDP of India in the year 2019-20 was

A. 2.96 Trillion USD
B. 3.27 Trillion USD
C. 4.56 Trillion USD
D. none
Answer» A. 2.96 Trillion USD
758.

NITI Aayog has framed its initiatives for

A. “25-year Road map”, “5- year vision, strategy and 1-year action plans”
B. “15-year Road map”, “7- year vision, strategy and 3 years action plans”
C. "5-year Road map”, “2- year vision, strategy and 1-year action plans”
D. none
Answer» B. “15-year Road map”, “7- year vision, strategy and 3 years action plans”
759.

As per Ministry of Statistics & Program Implementation, what is the contribution of Primary sector to the GDP of India in the year 2018-19-

A. 50.1 %
B. 15.87%
C. 29.73%
D. none
Answer» B. 15.87%
760.

As per Ministry of Statistics & Program Implementation, what is the contribution of Tertiary/ Services sector to the GDP of India in the year 2018-19-

A. 54.40 %
B. 15.87%
C. 29.73%
D. none
Answer» A. 54.40 %
761.

As per Ministry of Statistics & Program Implementation, what is the contribution of secondary sector to the GDP of India in the year 2018-19-

A. 54.40 %
B. 15.87%
C. 29.73%
D. none
Answer» C. 29.73%
762.

When did India become the member of World Trade Organization

A. On 1 January , 1995
B. On 15 July, 2009
C. On 1 April 2011
D. none
Answer» A. On 1 January , 1995
763.

According to 'Ease of doing business index' what is India's ranking

A. 63
B. 68
C. 85
D. none
Answer» A. 63
764.

According to nominal Net State domestic product per capita ----- is the richest state in India.

A. Haryana
B. Delhi
C. Goa
D. none
Answer» C. Goa
765.

According to nominal Net State domestic product per capita ----- is the poorest state in India.

A. Haryana
B. Bihar
C. Orrisa
D. none
Answer» B. Bihar
766.

What is India's ranking on Human Development Index released by UNDP in the year 2019-

A. 187
B. 154
C. 129
D. none
Answer» C. 129
767.

Human Development Index assesses the parameter

A. Life Expectancy Index
B. Education Index
C. GNI Index
D. All the three
Answer» D. All the three
768.

The gender inequality index in India measures

A. public-private partnership
B. discrimination between males & females
C. discrimination between educated & uneducated
D. none
Answer» B. discrimination between males & females
769.

In gender inequality index India ranks at 122 out of 162 countries

A. 157
B. 104
C. 122
D. none
Answer» C. 122
770.

The Regional Councils of NITI Aayog include

A. Chief Minister of particular state
B. Central Ministers & Secretaries of the sector
C. domain experts of the sector
D. All the three
Answer» D. All the three
771.

"Antyodaya" scheme of NITI Aayog prioritizes

A. Elimination of poverty
B. spread of education
C. the service & upliftment of poor, marginalized & downtrodden
D. none
Answer» C. the service & upliftment of poor, marginalized & downtrodden
772.

"Sustainability" as an indicator of economic growth means

A. elimination of poverty
B. more productivity
C. responsible use of resources
D. none
Answer» C. responsible use of resources
773.

First Five Year Plan was based on …

A. Harrod-Domar Model
B. Mahalanobis Model
C. Sukhmoy Chakraborty
D. none
Answer» A. Harrod-Domar Model
774.

Which one of the following programs has been implemented to establish girls’ schools in the districts having low female literacy rate?

A. Kasturba Gandhi Education Scheme (KGES)l
B. Indira Gandhi Education Scheme (IGES)
C. Mother Teresa Education Scheme (MTES)
D. none
Answer» A. Kasturba Gandhi Education Scheme (KGES)l
775.

In terms of total trade (export + import), which among the following is the largest trading partner of India?

A. U.S.
B. China
C. U.K.
D. none
Answer» B. China
776.

A Closed economy means:

A. Money supply is controlled
B. Digital financing take place
C. Neither exports nor imports
D. none
Answer» C. Neither exports nor imports
777.

What is Literacy rate

A. Number of illiterate persons to total populations
B. Number of graduate peoples to total population
C. Number of literate persons to total population
D. none
Answer» C. Number of literate persons to total population
778.

Measuring number of people who die is

A. Infant note
B. Migration Note
C. Morality rate
D. none
Answer» C. Morality rate
779.

The vicious circle theory states that

A. growing government assistance create addiction to welfare programs.
B. low income levels create pressure for money creation.
C. low income levels create pressure for cheap imports.
D. low per capita income creates low savings that keep incomes low
Answer» D. low per capita income creates low savings that keep incomes low
780.

The rate of growth of an economy mainly depends upon:

A. The rate of growth of the labour force
B. The proportion of national income saved and invested
C. The rate of technological improvements
D. All of the above
Answer» D. All of the above
781.

With economic growth, the proportion of labour-force engaged in agriculture:

A. Increases
B. Decreases
C. Remains unaffected
D. Changes in an uncertain manner
Answer» B. Decreases
782.

The Gini coefficient is a technique frequently used to show:

A. variations in life expectancy
B. income inequality
C. differences in infant mortality
D. the education gap
Answer» B. income inequality
783.

Disguised unemployment means:

A. Unemployment in agriculture
B. Unemployment due to recession
C. Unemployment due to downturn in business activity
D. Marginal Productivity of Labour (MPL) is zero.
Answer» D. Marginal Productivity of Labour (MPL) is zero.
784.

During the recessionary phase of a business cycle:

A. The natural rate of unemployment will increase dramatically
B. Potential national income will exceed actual national income
C. Actual national income will exceed potential national income
D. The real rate of interest will exceed the nominal rate of interest.
Answer» A. The natural rate of unemployment will increase dramatically
785.

India is passing through the phase of population:

A. Explosion
B. Control
C. Stability
D. None of the above
Answer» A. Explosion
786.

If an economy is underdeveloped, it means:

A. Agriculture is the main occupation
B. Standard of living of people is low
C. Production Techniques are backward and obsolete
D. All of the above
Answer» D. All of the above
787.

When and by whom was HDI introduced?

A. In 1990 by UNDP
B. In 1989 by World Bank
C. In 1990 by UNO
D. In 1989 by IMF
Answer» A. In 1990 by UNDP
788.

Indicator of HDI is:

A. Longevity
B. Educational Attainment
C. Standard of Living
D. All of the above
Answer» D. All of the above
789.

Which plan gave emphasis on removal of poverty for the first time?

A. Fourth
B. Fifth
C. Sixth
D. Seventh
Answer» B. Fifth
790.

Which are the economic consequences of problem of poverty?

A. increasing Unemployment
B. Capital Deficiency
C. Inadequate economic development
D. All of the above
Answer» D. All of the above
791.

What is the full form of IRDP?

A. Integrated Rural Development Programme
B. Intelligent Rural Development Programme
C. Induced Rural Development Programme
D. None of the above.
Answer» A. Integrated Rural Development Programme
792.

What are the salient demographic features of India’s population?

A. Growth rate of population
B. Uneven distribution of population
C. Age composition
D. All of the above
Answer» D. All of the above
793.

Having insufficient income to provide a minimum standard of living is

A. Absolute poverty
B. Relative poverty
C. None
D. none
Answer» A. Absolute poverty
794.

In which among the following year was ‘liberalized industrial policy’ in India was announced for the first time?

A. 1992
B. 1995
C. 1991
D. none
Answer» C. 1991
795.

"Zero Defect Zero Effect" slogan is related to which of the following scheme?

A. Digital India
B. Make in India
C. Startup India
D. Clean India mission
Answer» B. Make in India
796.

After agriculture, --------------provides highest employment to the local & neighborhood residents.

A. Cottage Industry
B. Rural Industry
C. Small scale sector
D. none
Answer» C. Small scale sector
797.

Parallel economy emerges due to

A. Tax avoidance
B. tax evasion
C. tax abiding
D. none
Answer» B. tax evasion
798.

What was the main theme of the 12th five-year plan of India

A. Faster and more inclusive growth
B. Faster, more inclusive and sustainable growth
C. Growth with justice and equity
D. Sustainable Development.
Answer» B. Faster, more inclusive and sustainable growth
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