McqMate
Chapters
1. |
Which of the following explains the term economic growth? |
A. | Increase in per capita production |
B. | Increase in per capita real income |
C. | structural change in the economy |
D. | all the above are right |
Answer» D. all the above are right |
2. |
Which of the following explains the term economic development? |
A. | Improvement in the technology involved |
B. | Improvement in production |
C. | Improvement in distribution system |
D. | All the above |
Answer» D. All the above |
3. |
An underdeveloped economy is characterized by |
A. | High per capita real income |
B. | Large proportion of labor force in the tertiary sector |
C. | State of deprivation of large proportion of population |
D. | All the above |
Answer» C. State of deprivation of large proportion of population |
4. |
Scarcity of capital, technological backwardness and unemployment are generally found in |
A. | Developed countries |
B. | Underdeveloped countries |
C. | Both |
D. | None of the above |
Answer» B. Underdeveloped countries |
5. |
Which of the following denotes an underdeveloped economy? |
A. | High level of inequalities |
B. | Low level of capital productivity |
C. | A relatively closed economy |
D. | All the above |
Answer» D. All the above |
6. |
Capital formation in underdeveloped countries is a major bottleneck. The reason can be |
A. | Small size of market with no incentive for investment |
B. | Low level of income |
C. | vicious circle of poverty |
D. | All the above |
Answer» D. All the above |
7. |
Consider the following statements and identify the right ones. i. Higher level of capital-output ratio indicates efficient use of capital. ii. It reflects the productivity of capital in the economy |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» B. ii only |
8. |
Which of the following about strategy of balanced growth is right? |
A. | Simultaneous investment in all sectors |
B. | All sectors are independent. |
C. | Both |
D. | None |
Answer» A. Simultaneous investment in all sectors |
9. |
Which of the following about strategy of unbalanced growth is right? |
A. | Deliberate imbalance in favor of some sectors |
B. | Simultaneous investment in all sectors |
C. | Both |
D. | None |
Answer» A. Deliberate imbalance in favor of some sectors |
10. |
The additional capital used per unit of additional production is called |
A. | Induced investment |
B. | Autonomous investment |
C. | Incremental Capital Output ratio |
D. | None of the above |
Answer» C. Incremental Capital Output ratio |
11. |
Depression is characterized by |
A. | unprecedented level of underemployment |
B. | Drastic fall in income |
C. | Drastic fall in output and employment |
D. | All the above |
Answer» D. All the above |
12. |
Consider the following statements and identify the right ones. i. During independence, Indian economy was heavily dependent on the tertiary sector ii. Development of industrial and services sector was not limited. |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» D. none |
13. |
Consider the following statements and identify the right ones. i. The share of agriculture to the GDP today is less than 5% today ii. The tertiary sector contributes about 55%of the occupational structure. (employment) |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» D. none |
14. |
Dual economy refers to existence of |
A. | Imports and export activities |
B. | Bilateral ties |
C. | Traditional and modern aspects in the economy |
D. | Both a and b |
Answer» C. Traditional and modern aspects in the economy |
15. |
Mixed economy means an economy where there is |
A. | Existence of capitalism |
B. | Privatization, liberalization and globalization |
C. | Existence of both public and private sectors |
D. | Growing crops along with rearing animals |
Answer» C. Existence of both public and private sectors |
16. |
Indian economy today is a i. Developing economy ii. Emerging economy iii. Dual economy iv. Non-agricultural economy |
A. | I and ii only |
B. | I, ii and iii |
C. | I, ii, iii, iv |
D. | iii and iv |
Answer» B. I, ii and iii |
17. |
Consider the following statements and consider the right ones. i. In India, structure of economy and occupational structure is very similar. ii. Today, Tertiary sector contributes the highest to the GDP. |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» B. ii only |
18. |
Arrange in the right order the contribution of sectors to the GDP from highest to lowest. |
A. | Agriculture, manufacturing, tertiary |
B. | Agriculture, tertiary, manufacturing |
C. | Tertiary, manufacturing, agriculture |
D. | Manufacturing, tertiary, agriculture |
Answer» C. Tertiary, manufacturing, agriculture |
19. |
The financial year in India is |
A. | April 1 to March 31 |
B. | January 1 to December 31 |
C. | March 1 to April 30 |
D. | March 16 to March 15 |
Answer» A. April 1 to March 31 |
20. |
Consider the following statements and identify the right ones. i. National income is the monetary value of all final goods and services produced. ii. Depreciation is deducted from gross value to get the net value |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» C. both |
21. |
The state with lowest death rate is |
A. | West Bengal |
B. | Haryana |
C. | Bihar |
D. | Kerala |
Answer» A. West Bengal |
22. |
The state with lowest birth rate is |
A. | West Bengal |
B. | Kerala |
C. | Karnataka |
D. | Assam |
Answer» B. Kerala |
23. |
Consider the following statements and identify the right ones. i. The Planning Commission was set up by the Government resolution. ii. It formulates plans for effective utilization of resources. |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» C. both |
24. |
Economic growth in India will happen necessarily if there is |
A. | Population growth |
B. | Capital formation |
C. | Technical progress in the global economy |
D. | All the above |
Answer» B. Capital formation |
25. |
An open economy is one where |
A. | Deficit financing is absent |
B. | No export activities |
C. | No import activities |
D. | Economy opened to the world |
Answer» D. Economy opened to the world |
26. |
Which three indicators are used in the Human Development Index (HDI)? i) Standard of living ii) Education iii) Life expectancy iv) Condition of environment |
A. | Only I, II & IV |
B. | Only I, II, & III |
C. | Only I & II |
D. | All of the above |
Answer» B. Only I, II, & III |
27. |
Who releases the Human Development Report? |
A. | World bank |
B. | World economic forum |
C. | United Nations |
D. | UNCTAD |
Answer» C. United Nations |
28. |
Who secured the top rank in The Human Development Report 2018? |
A. | Sweden |
B. | Norway |
C. | Switzerland |
D. | Austria |
Answer» B. Norway |
29. |
What is the rank of India in the Human Development Index 2018? |
A. | 142nd |
B. | 136th |
C. | 140th |
D. | 130th |
Answer» D. 130th |
30. |
When was the Gender Inequality Index (GII) introduced? |
A. | 2010 |
B. | 2011 |
C. | 1999 |
D. | 2005 |
Answer» A. 2010 |
31. |
Who invented the Human development Index? |
A. | Paul Krugman |
B. | Mahbub –ul Haqq |
C. | Jean dreze |
D. | Alfred marshal |
Answer» B. Mahbub –ul Haqq |
32. |
Who releases the Multidimensional Poverty Index (MPI)? |
A. | World Bank |
B. | World Economic Forum |
C. | UNDP |
D. | Asian Development Bank |
Answer» C. UNDP |
33. |
Which of the following about strategy of unbalanced growth is right? |
A. | Deliberate imbalance in favour of some sectors |
B. | Simultaneous investment in all sectors |
C. | Both |
D. | None |
Answer» A. Deliberate imbalance in favour of some sectors |
34. |
Consider the following statements and identify the right ones. i. Unbalanced growth strategy is also known as Mahalanobis strategy ii. This strategy was adopted in India after the 7th five-year plans. |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» A. I only |
35. |
The concept of PQLI was developed by |
A. | Morris D Morris |
B. | UNO |
C. | UNDP |
D. | Oxford Poverty and Human Development Initiative |
Answer» A. Morris D Morris |
36. |
The parameter/s of the PQLI is/are |
A. | Life Expectancy Index |
B. | Standard of living index |
C. | Infant mortality rate |
D. | A and C |
Answer» D. A and C |
37. |
Consider the following statements and identify the right ones i. The Oxford PHI publishes Human Development Report ii. The HDR is published biennially. |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» D. none |
38. |
The concept of HDI was popularized by |
A. | Morris D Morris |
B. | Adam Smith |
C. | Keynes |
D. | Mahbub Ul Haq |
Answer» D. Mahbub Ul Haq |
39. |
The component/s of HDI is/are |
A. | Life expectancy index |
B. | Infant mortality rate |
C. | Population growth rate |
D. | All the above |
Answer» A. Life expectancy index |
40. |
The Multidimensional Poverty Index has been developed by |
A. | The UNDP |
B. | Oxford HDI |
C. | The UNO |
D. | Morris D Morris |
Answer» B. Oxford HDI |
41. |
Which of following is not a component of MPI? |
A. | Health |
B. | Education |
C. | Occupation |
D. | Standard of living |
Answer» C. Occupation |
42. |
Consider the following statements and identify the right ones. i. Each indicator in educational dimension is equally weighted at 1/6 ii. Each indicator in standard of living is equally weighted at 1/8 |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» A. I only |
43. |
Which of the following is not an indicator to measure MPI? |
A. | Electricity |
B. | Flooring |
C. | Cooking fuel |
D. | Profession |
Answer» D. Profession |
44. |
Which of the following was the 1st state to bring out state HDR? |
A. | Rajasthan |
B. | Karnataka |
C. | Madhya Pradesh |
D. | Kerala |
Answer» C. Madhya Pradesh |
45. |
The investment by government to create socio-economic infrastructure is |
A. | Induced investment |
B. | Autonomous investment |
C. | Incremental COR |
D. | None of the above |
Answer» B. Autonomous investment |
46. |
Inclusive governance includes |
A. | Allowing NBFCs to do banking |
B. | Increase government spending on health |
C. | Strengthening mid-day meals scheme |
D. | All the above |
Answer» D. All the above |
47. |
Which one of the following is NOT one of the dimensions to the Human Development Index? |
A. | Health |
B. | Education |
C. | Living standards |
D. | Political freedom |
Answer» D. Political freedom |
48. |
Which one of the following is NOT one of the indicators for the Human Development Index dimensions? |
A. | Life expectancy at birth |
B. | Gross domestic product per capita |
C. | Mean years of schooling |
D. | Expected years of schooling |
Answer» B. Gross domestic product per capita |
49. |
Indian agriculture is typically characterized as? |
A. | land surplus, labour scare economy |
B. | land surplus, labour surplus economy |
C. | land scare, labour surplus economy |
D. | land scare, labour scare economy |
Answer» C. land scare, labour surplus economy |
50. |
The National Bank for Agriculture and Rural Development (NABARD) was established in the year? |
A. | 1970 |
B. | 1975 |
C. | 1977 |
D. | 1982 |
Answer» D. 1982 |
51. |
NABARD (National Bank for Agriculture and Rural Development) was established in the? |
A. | Fourth Five Year plan |
B. | Fifth Five Year plan |
C. | Sixth Five Year plan |
D. | Eighth Five Year plan |
Answer» C. Sixth Five Year plan |
52. |
Which Indian state produces the largest quantity of pulses? |
A. | Maharashtra |
B. | Uttar Pradesh |
C. | Madhya Pradesh |
D. | Rajasthan |
Answer» C. Madhya Pradesh |
53. |
Which agency is responsible for procurement, distribution and storage of food grain production in India? |
A. | Ministry of Agriculture |
B. | Food Corporation of India |
C. | C. NAFED |
D. | TRIFED |
Answer» B. Food Corporation of India |
54. |
Who regulates the markets in agricultural products in India? |
A. | Essential Commodities Act, 1955 |
B. | Agricultural Produce Market Committee (APMC) Act enacted by States |
C. | Agricultural Produce (Grading and Marking) Act, 1937 |
D. | Food Products Order, 1956 and Meat and Food Products Order, 1973 |
Answer» B. Agricultural Produce Market Committee (APMC) Act enacted by States |
55. |
Which sector is the backbone of Indian economy? |
A. | Service sector |
B. | Financial Sector |
C. | Tourism Sector |
D. | Agriculture Sector |
Answer» D. Agriculture Sector |
56. |
Which among the following is not a cereal? |
A. | Rice |
B. | Wheat |
C. | Gram |
D. | Maize |
Answer» C. Gram |
57. |
Which among the following does not belong to welfare schemes for the farmers? |
A. | Kisan Credit Card Scheme |
B. | SHG (self-help group) Bank Linkage Programme |
C. | National Agricultural Insurance Scheme |
D. | Employee Referral Scheme |
Answer» D. Employee Referral Scheme |
58. |
When did the Government present Kisan Credit Card Scheme? |
A. | April 1853 |
B. | August 1998 |
C. | July 1991 |
D. | November 1995 |
Answer» B. August 1998 |
59. |
Which is the highest food grain producing Indian state, as per 2013-14? |
A. | Madhya Pradesh |
B. | Punjab |
C. | Uttar Pradesh |
D. | Maharashtra |
Answer» C. Uttar Pradesh |
60. |
Which is the highest Pulses producing Indian state, as per 2013-14? |
A. | Madhya Pradesh |
B. | Maharashtra |
C. | Uttar Pradesh |
D. | Rajasthan |
Answer» A. Madhya Pradesh |
61. |
Which Indian state has the largest irrigated agricultural area, as per 2010 survey? |
A. | Gujarat |
B. | Madhya Pradesh |
C. | Rajasthan |
D. | Uttar Pradesh |
Answer» D. Uttar Pradesh |
62. |
Which is the largest rice producing Indian state, as per 2013-14 records? |
A. | Andhra Pradesh |
B. | Uttar Pradesh |
C. | West Bengal |
D. | Punjab |
Answer» C. West Bengal |
63. |
Which is the largest jowar producing Indian state, as per 2011-12 records? |
A. | Andhra Pradesh |
B. | Karnataka |
C. | Madhya Pradesh |
D. | Maharashtra |
Answer» D. Maharashtra |
64. |
Which is the leading Indian state in cotton production, as per 2013-14 records? |
A. | Andhra Pradesh |
B. | Gujarat |
C. | Maharashtra |
D. | Tamil Nadu |
Answer» B. Gujarat |
65. |
Which is the leading Indian state in groundnut production, as per 2013-14 records? |
A. | Andhra Pradesh |
B. | Gujarat |
C. | Tamil Nadu |
D. | Karnataka |
Answer» B. Gujarat |
66. |
Which is the highest coconut producing Indian state, as per 2013-14 records? |
A. | Karnataka |
B. | Kerala |
C. | Tamil Nadu |
D. | Maharashtra |
Answer» B. Kerala |
67. |
The characteristic features of Indian Agriculture are: 1. Labour surplus economy 2. Structural unemployment 3. Large size of land holding 4. Traditional technology of production Which statements are correct? |
A. | 1 and 2 |
B. | 2 and 3 |
C. | 1 and 4 |
D. | 3 and 4 Ans: |
Answer» C. 1 and 4 |
68. |
The Apex institution in the spare of agriculture credit is: |
A. | State Bank of India |
B. | Reserve Bank of India |
C. | Regional Rural of Bank |
D. | NABARD |
Answer» D. NABARD |
69. |
As we know, a lot of people from underdeveloped states migrate to various progressive states as agricultural labour. What are the major problems of agriculture in India owing to which people have to leave their own land and work as laborer on somebody else’s farm/land? 1. Lack of irrigation facilities, low productivity of land and uncertain monsoon. 2. Non availability of fertilizers etc. on subsidized rates. 3. Single crop cultivation. Select the correct option |
A. | Only 1 |
B. | Only 2 |
C. | Only 3 |
D. | All the three Ans: |
Answer» D. All the three Ans: |
70. |
Marginal land holding is when, |
A. | Owning less than one hectare of land |
B. | Owning less than 4 hectares of land |
C. | Owning less than 10 hectares of land |
D. | All of them are true |
Answer» A. Owning less than one hectare of land |
71. |
Arrange in the right order the contribution of sectors to the GDP from highest to lowest. |
A. | Agriculture, manufacturing, tertiary |
B. | Agriculture, tertiary, manufacturing |
C. | Tertiary, manufacturing, agriculture |
D. | Manufacturing, tertiary, agriculture |
Answer» C. Tertiary, manufacturing, agriculture |
72. |
What are the real problems of the Indian agriculture? I. Dependence on Erratic Monsoon II. Low productivity III. Constraints of financial resources and indebtedness IV. Lack of land reforms V. Small land size and fragmentation of landholdings |
A. | I, II, III and IV only |
B. | II and IV only |
C. | III and V only |
D. | All |
Answer» D. All |
73. |
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 |
74. |
Approx. __ % of Indian population is still Agriculturist. |
A. | 46% |
B. | 50% |
C. | 58% |
D. | 64% |
Answer» C. 58% |
75. |
Contribution of agriculture to Gross National Product is approximately? |
A. | 14% |
B. | 15% |
C. | 16.5% |
D. | 17.5% |
Answer» D. 17.5% |
76. |
Which of the following is the commercial crop in India? |
A. | Mustard |
B. | tobacco |
C. | Jute |
D. | All of the above |
Answer» D. All of the above |
77. |
Who approves the Fair and Remunerative Price (FRP) of sugarcane? |
A. | Cabinet Committee on Economic Affairs |
B. | Commission for Agricultural Costs and Prices |
C. | Directorate of Marketing and Inspection, Ministry of Agriculture |
D. | Agricultural Produce Market Committee |
Answer» A. Cabinet Committee on Economic Affairs |
78. |
The Green Revolution in India was the outcome of the efforts of who amongst the following? |
A. | M.S. Swaminathan |
B. | C. Rangrajan |
C. | K.V. Kamath |
D. | Rakesh Mohan |
Answer» A. M.S. Swaminathan |
79. |
Consider the following statements and identify the right ones. i. The Industrial Policy of 1948 was the first industrial policy statement by the Government ii. It gave leading role to the private sector |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» A. I only |
80. |
Consider the following statements and identify the right ones. i. As per the 1948 policy, six industries were under the mixed sector ii. New units could be set up by the private sector |
A. | i only |
B. | ii only |
C. | both |
D. | none |
Answer» A. i only |
81. |
Which of the following was not an objective of the 1956 industrial policy? |
A. | Development of cooperative sector |
B. | Expansion of public sector |
C. | Develop heavy and machine making industries |
D. | None of the above |
Answer» D. None of the above |
82. |
Consider the following statements and identify the right ones. i. The 1980 industrial policy emphasized "economic federalism" ii. Liberal license policies were advocated for agro-based industries |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» C. both |
83. |
The most urgent problem which prompted the introduction of the New Economic Policy in 1991 was |
A. | Foreign exchange crisis |
B. | All of these |
C. | Poor performance of public sector |
D. | High tax rate leading to tax evasion |
Answer» B. All of these |
84. |
Which of the following industries are to be given compulsory licensing? |
A. | Alcohol |
B. | Tobacco |
C. | Drugs and pharmaceuticals |
D. | All the above |
Answer» D. All the above |
85. |
Which of the following industries was de-reserved in 1993? |
A. | Atomic energy |
B. | Atopic minerals |
C. | Mining of copper and zinc |
D. | Railways |
Answer» C. Mining of copper and zinc |
86. |
Which of the following is not a Maha-Ratna industry? |
A. | GAIL |
B. | Coal India Limited |
C. | SAIL |
D. | Airports Authority of India |
Answer» D. Airports Authority of India |
87. |
Which of the following is a nav Ratna category unit? |
A. | HAL |
B. | Oil India Limited |
C. | MTNL |
D. | All the above |
Answer» D. All the above |
88. |
Consider the following statements and identify the right ones. i. The new manufacturing policy aims to create 100 million jobs and increase share of manufacturing sector in the GDP ii. A special purpose vehicle is created to develop infrastructure on PPP mode |
A. | I only |
B. | ii only |
C. | both |
D. | none |
Answer» C. both |
89. |
Which of the following statements is correct? |
A. | The public sector was given a dominant position in the newly Independent India |
B. | The foreign trade policy post-Independence allowed free trade of all goods and services. |
C. | Monetary policy post-Independence sought to keep the CRR at a very low level. |
D. | None of the above. |
Answer» A. The public sector was given a dominant position in the newly Independent India |
90. |
All of the following developments were noticed during 1991 (when economic reforms were enforced) except one. Identify it. |
A. | National debt was nearly 60 per cent of the GNP of Indi(a) |
B. | Inflation crossed double digits. |
C. | Foreign reserves were maintained at a very high level. |
D. | None of the above. |
Answer» C. Foreign reserves were maintained at a very high level. |
91. |
At present only __________ industries are reserved for the public sector. |
A. | 5 |
B. | 7 |
C. | 8 |
D. | 3 |
Answer» D. 3 |
92. |
At present there are only _________ industries for which licensing are compulsory. |
A. | 18 |
B. | 3 |
C. | 10 |
D. | 9 |
Answer» B. 3 |
93. |
At present, in which sector 100 per cent FDI is allowed in India? |
A. | Defense |
B. | Drugs and pharmaceuticals |
C. | Banks |
D. | Insurance |
Answer» B. Drugs and pharmaceuticals |
94. |
As a result of the New Industrial Policy, 1991: |
A. | Prior approval of central government is required for establishing new undertakings, and expanding the present undertaking. |
B. | An industry intending to have more than 100 crores of assets is required to obtain the permission of the central government. |
C. | Prior approval of central government for establishing new undertakings and expanding existing undertaking is not requir |
Answer» C. Prior approval of central government for establishing new undertakings and expanding existing undertaking is not requir |
95. |
Which of the following is also known as International Bank for Reconstruction and Development? |
A. | IMF |
B. | RBI |
C. | WTO |
D. | World Bank |
Answer» D. World Bank |
96. |
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. | 1996 |
Answer» C. 1991 |
97. |
Increase in aggregate output of goods and services |
A. | Economic development |
B. | Economic planning |
C. | Economic growth |
D. | Economy |
Answer» C. Economic growth |
98. |
The economic reforms were intended to take the Indian economy into three specific directions which are |
A. | LPG |
B. | DPG |
C. | LDG |
D. | DLP |
Answer» A. LPG |
99. |
LPG stands for |
A. | Liberalisation, Privatisation, Globalisation |
B. | Liberalisation, Performance, Globalisation |
C. | Liberalisation, Privatisation, Growth |
D. | Liberalisation, Performance, Growth |
Answer» A. Liberalisation, Privatisation, Globalisation |
100. |
Under the industrial policy of 1991, the number of industries reserved for the public sector have been reduced from 17 to |
A. | 8 |
B. | 6 |
C. | 3 |
D. | 5 |
Answer» A. 8 |
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