McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
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 | |
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