Question - 1
INDIAN ECONOMY:
In India, planned economy is based on
Gandhian System
Socialist System
Capitalist System
Mixed Economy System
None of the Above
Answer- B
Question - 2
INDIAN ECONOMY:
Economic liberalization in India started with
substantial changes in industrial licensing policy
the convertibility of Indian rupee
doing away with procedural formalities for foreign direct investment
significant reduction in tax rates
None of the Above
Answer- A
Question - 3
INDIAN ECONOMY:
In India, agriculture income is calculated by
Output method
Input method
Expenditure method
Commodity flow method
None of the Above
Answer- A
Question - 4
INDIAN ECONOMY:
Who coined the term ‘Hindu rate of growth’ for Indian Economy?
A.K. Sen
Kirit S. Parikh
Raj Krishna
Montek Singh Ahluwalia
None of the Above
Answer- C
Question - 5
INDIAN ECONOMY:
GDP at factor cost is
GDP minus indirect taxes plus subsidies
GNP minus depreciation allowances
NNP plus depreciation allowances
GDP minus subsidies plus indirect taxes
None of the Above
Answer- A
Question - 6
INDIAN ECONOMY:
Per Capita Income is obtained by dividing National Income by
Total population of the country
Total working population
Area of the country
Volume of the capital used
None of the Above
Answer- A
Question - 7
INDIAN ECONOMY:
Which one of the following is a development expenditure?
Irrigation expenditure
Civil administration
Debt services
Grant-in-Aid
None of the Above
Answer- A
Question - 8
INDIAN ECONOMY:
Gross Domestic Product (GDP) is defined as the value of
goods produced in an economy in a year
goods and services in an economy in a year
final goods produced in an economy in a year
final goods and services produced in an economy in a year
None of the Above
Answer- D
Question - 9
INDIAN ECONOMY:
Depreciation is equals to
Gross National Product – Net National Product
Net National Product – Gross National Product
Gross National Product – Personal Income
Personal Income – Personal Taxes
None of the Above
Answer- A
Question - 10
INDIAN ECONOMY:
Which one of the following is NOT a method of measurement of National Income?
Value Added Method
Income Method
Expenditure Method
Investment Method
None of the Above
Answer- D
Question - 11
INDIAN ECONOMY:
Net National Product (NNP) of a country is
GDP minus depreciation allowances
GDP plus net income from abroad
GNP minus net income from abroad
GNP minus depreciation allowances
None of the Above
Answer- D
Question - 12
INDIAN ECONOMY:
National Income is based on the
total revenue of the state
production of goods and services
net profit earned and expenditure made by the state
the sum of all factions of income
None of the Above
Answer- B
Question - 13
INDIAN ECONOMY:
Which of the following is definitely a major indication of the State of the economy of a country?
Rate of GDP growth
Rate of inflation
Number of Banks in a country
Inflation
None of these
Answer- A
Question - 14
INDIAN ECONOMY:
Which of the following can be called as a part of the Service Sector?
Textile Mills
Banking
Coal Mines
Agriculture
None of the Above
Answer- B
Question - 15
INDIAN ECONOMY:
Many a times we read a term in financial newspapers GDP. What is the full form of the same?
Gross Domestic Product
Global Depository Receipts
Global Domestic Product
Gross Depository Revenue
None of the Above
Answer- A
Question - 16
INDIAN ECONOMY:
Which sector of the Indian Economy contributes largest to the Gross National Product?
Primary Sector
Tertiary Sector
Secondary Sector
Public Sector
None of the Above
Answer- B
Question - 17
INDIAN ECONOMY:
National Income estimates in India are prepared by
Planning Commission
Reserve Bank of India
Central Statistical Organisation
Indian Statistical Institute
None of the Above
Answer- C
Question - 18
INDIAN ECONOMY:
Which one of the following is NOT an example of economic overheads?
Schools
Sanitary Facilities
Roads and Railways
Coal Mines
None of the Above
Answer- D
Question - 19
INDIAN ECONOMY:
The National Income of a country is
The annual revenue of the Government
Sum total of factor incomes
Surplus of Public Sector Undertakings
Export minus Import
None of the Above
Answer- B
Question - 20
INDIAN ECONOMY:
In an open economy, the National Income (Y) of the economy is :
(C = Consumption, I = Investment, G = Government expenditure, X = Total exports, M = Total import)
Y = C + I + G + X
Y = I + G – X + M
Y = C + I – G + (X – M)
Y = C + I – G + X - M
None of the Above
Answer- C
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