Chapter: Introduction
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
Chapter: Human Resource Development
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
Chapter: Agriculture Development in India since Independence
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
Chapter: Industrial Development in India since independence
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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