Indian Economy MCQ Question Answer Paper Set 27

1)Who gave the call for ‘Evergreen Revolution’ in India?

a) MS Swaminathan

b) APJ Abdul Kalam

c) Dr Manmohan Singh

d) MS Ahluwalia

ans: a

2) Which Plan was suspended one year before the time schedule?

a) Third Plan (1966-71)

b) First Plan (1951-56)

c) Sixth Plan (1980-85)

d) Fifth Plan (1974-79)

ans: b

3)  From the following which one is NOT a tool of Fiscal Policy?

a) Taxation

b) Public Expenditure

c) Interest Rate

d) Public Debt

ans: c

4) Which of the following statements is correct?

(a) Planning Commission is a constitutional body

(b) The Prime Minister is the Chairman of the Planning Commission

(c) The Minister of Planning is always necessarily the Deputy Chairman of Planning Commission

(d) The draft plan is prepared by the National Development Council

Ans: (b)

5) The recommendations of Kelkar Task Force is associated with:

a) Banking

b) Taxes

c) Foreign Investments

d) Business

ans: b

6) Which one of the following is NOT with in the duties of the Planning Commission?

(a) To define the stage of growth and suggest allocation of resources

(b) To make an assessment of the material, capital and human resources of the country

(c) To determine the nature of machinery required for implementation of plan proposals

(d) To prepare the annual central budget

Ans: (d)

7) In the context of India’s Five Year Plans, a shift in the pattern of industrialization, with lower emphasis on heavy industries and more on infrastructure begins in

(a) fourth Plan

(b) sixth Plan

(c) eighth Plan

(d) tenth Plan

Ans: (c)

8) Among the reasons for disguised unemployment in the rural areas is :

(a) choice of a heavy industry model for economic development

(b) low levels of technological development in the country

(c) heavy pressure of population along with slow implementation of land reforms

(d) high illiteracy rate

Ans: (b)

9) The Food For Work program was renamed as:

(a) Rural Landless Employment Guarantee Program (RLEGP)

(b) National Rural Employment Program (NREP)

(c) Jawahar Rozgar Yojana (JRY)

(d) Integrated Rural Development Program (IRDP)

Ans: (b)

10) Nobel Prize winning Indian Amartya Sen is known for his work in which area?

a) Physics

b) Environmental Protection

c) Chemistry

d) Economics

ans: d

11) According to J.A Schumpeter, entrepreneurs are entitled to enjoy the profit for their ……. activities.

a) innovative

b) risk taking

c) risk averting

d) hard work

ans: a

12) When the productive capacity of the economic system of a State is inadequate to create sufficient number of jobs, it is called

(a) seasonal unemployment

(b) structural unemployment

(c) disguised unemployment

(d) cyclical unemployment

Ans: (b)

13) How many languages are used on a ten rupee note?

(a) 2

(b) 7

(c) 10

(d) 15

Ans: (d)

14) A high rate of inflation tends to worsen balance of payments because:

(a) prices of imported goods rise

(b) prices of exported goods rise making exports less competitive

(c) prices of imported goods fall and hence more is imported

(d) prices of exported goods fall and hence less amount is obtained in terms of foreign exchange

Ans: (b)

15) The system of Budget was introduced in India during the viceroyalty of:

(a) Canning

(b) Dalhousie

(c) Ripon

(d) Elgin

Ans: (a)

16) The per capita income has been low in India because:

(a) of population growth

(b) of price rise

(c) more people are in rural areas

(d) of regional imbalances

Ans: (a)

17) A budgetary deficit means:

(a) total expenditure is more than total revenue

(b) current expenditure is more than current revenue

(c) capital expenditure is more than capital revenue

(d) total expenditure is more than current revenue

Ans: (a)

18) Which of the following is the largest (in terms of’ turnover) Public Sector organization in India?

(a) Bharat Petroleum

(b) Steel Authority of India

(c) Indian Oil Corporation

(d) Oil and Natural Gas Commission

Ans: (c)

19) Which institution provides long run finance to industries?

(a) UTI

(b) LIC

(c) GIC

(d) All of these

Ans: (d)

20) Which of the following pairs are correctly matched?

1. Dow Jones: New York

2. Hang Seng: Seoul

3. FTSE-100:London

Select the correct answer using the codes given below:

(a) 1, 2 and 3

(b) 2 and 3

(c) 1 and 2

(d) 1 and 3

Ans: (d)

 

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