Indian Economy Set 7 MCQs

Q1 | A Closed economy means:

Money supply is controlled

Digital financing take place

Neither exports nor imports

none

Q2 | What is Literacy rate

Number of illiterate persons to total populations

Number of graduate peoples to total population

Number of literate persons to total population

none

Q3 | Measuring number of people who die is

Infant note

Migration Note

Morality rate

none

Q4 | The vicious circle theory states that

growing government assistance create addiction to welfare programs.

low income levels create pressure for money creation.

low income levels create pressure for cheap imports.

low per capita income creates low savings that keep incomes low

Q5 | The rate of growth of an economy mainly depends upon:

The rate of growth of the labour force

The proportion of national income saved and invested

The rate of technological improvements

All of the above

Q6 | With economic growth, the proportion of labour-force engaged in agriculture:

Increases

Decreases

Remains unaffected

Changes in an uncertain manner

Q7 | The Gini coefficient is a technique frequently used to show:

variations in life expectancy

income inequality

differences in infant mortality

the education gap

Q8 | Disguised unemployment means:

Unemployment in agriculture

Unemployment due to recession

Unemployment due to downturn in business activity

Marginal Productivity of Labour (MPL) is zero.

Q9 | During the recessionary phase of a business cycle:

The natural rate of unemployment will increase dramatically

Potential national income will exceed actual national income

Actual national income will exceed potential national income

The real rate of interest will exceed the nominal rate of interest.

Q10 | India is passing through the phase of population:

Explosion

Control

Stability

None of the above

Q11 | If an economy is underdeveloped, it means:

Agriculture is the main occupation

Standard of living of people is low

Production Techniques are backward and obsolete

All of the above

Q12 | When and by whom was HDI introduced?

In 1990 by UNDP

In 1989 by World Bank

In 1990 by UNO

In 1989 by IMF

Q13 | Indicator of HDI is:

Longevity

Educational Attainment

Standard of Living

All of the above

Q14 | Which plan gave emphasis on removal of poverty for the first time?

Fourth

Fifth

Sixth

Seventh

Q15 | Which are the economic consequences of problem of poverty?

increasing Unemployment

Capital Deficiency

Inadequate economic development

All of the above

Q16 | What is the full form of IRDP?

Integrated Rural Development Programme

Intelligent Rural Development Programme

Induced Rural Development Programme

None of the above.

Q17 | What are the salient demographic features of India’s population?

Growth rate of population

Uneven distribution of population

Age composition

All of the above

Q18 | Having insufficient income to provide a minimum standard of living is

Absolute poverty

Relative poverty

None

none

Q19 | In which among the following year was ‘liberalized industrial policy’ in India was announced for the first time?

1992

1995

1991

none

Q20 | Zero Defect Zero Effect" slogan is related to which of the following scheme?

Digital India

Make in India

Startup India

Clean India mission

Q21 | After agriculture, --------------provides highest employment to the local & neighborhoodresidents.

Cottage Industry

Rural Industry

Small scale sector

none

Q22 | Parallel economy emerges due to

Tax avoidance

tax evasion

tax abiding

none

Q23 | What was the main theme of the 12th five-year plan of India

Faster and more inclusive growth

Faster, more inclusive and sustainable growth

Growth with justice and equity

Sustainable Development.