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 | |
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