1. Net National gains from trade is measurable function of:
Correct : D. volume of trade credited and change in prices caused by trade
2. Outward looking development policies are not associated with:
Correct : D. learning by doing
3. Import quota is :
Correct : B. non-tariff trade barrier
4. Balance of payments must always balance because:
Correct : C. of an accounting connection
5. Trade Policy measures for correction of balance of payments
disequilibrium include of export promotion:
Correct : C. both a & b
6. In calculating India’s balance of payments position, we must:
Correct : B. omit exports and imports of gold
7. The convertibility of dollar was formally abandoned in:
Correct : A. 1971
8. Each member of IMF is assigned a quota expressed in:
Correct : C. special drawing rights
9. The international monetary system that existed from 1947 to 1971 is
generally known as:
Correct : A. par value system
10. The fundamental cause for the collapse of the Bretton woods system was:
Correct : D. all of the above
11. The direction of trade indicates:
Correct : C. the countries to which commodities are exported and the countries from which commodities are imported
12. The important component of foreign trade:
Correct : B. the volume of trade, the composition of trade and direction of trade
13. The balance of payment in unfavorable:
Correct : B. when value of import is greater than export
14. In which of the plan period, the Balance of payment position had surplus:
Correct : D. fifth plan
15. The Mudaliar Committee was related to:
Correct : A. export-import policy
16. EXIM Bank was set up in:
Correct : B. 1982
17. The balance of payment on current account shows:
Correct : A. the record of the current position of the country in transfer of both visible and invisible items
18. “Capitalism” refers to?
Correct : C. Private ownership of capital goods
19. What is the main cause of exports surplus?
Correct : D. above all
20. Which is the primary objective of economic planning in India
Correct : C. Growth with social justice
21. Which of the following is associated with poverty estimation ?
Correct : D. All the above
22. Which of the following state introduced Employment Guarantee Scheme first?
Correct : B. Maharashtra
23. Infant mortality
Correct : A. Defined as the annual number of deaths of infant under 1 year
24. is below the income that secures the bare essentials of food, clothing,
Correct : B. Absolute poverty.
25. The unemployment rate is the
Correct : A. Employed plus unemployed divided by labor force.
26. In which type of unemployment do the marginal productivity of the workers is zero?
Correct : A. Disguised Unemployment
27. Which is the state with minimum sex ratio in India?
Correct : C. Haryana
28. Which is the state with highest number of Scheduled Castes in India?
Correct : D. Uttar Pradesh
29. Which country is the largest consumer of sugar in the world?
Correct : A. USA
30. Which is the largest sugar-producing country in the world?
Correct : C. BRAZIL
31. When was cotton textile industry established in Mumbai?
Correct : A. 1854
32. Which is the Indian state with the highest number of powerlooms?
Correct : C. Maharashtra
33. Which of the following industries is not a heavy industriy.
Correct : A. Cotton textile
34. Which one of the following agencies, markets steel for the public sector plants?
Correct : B. SAIL
35. Where was oil discovered for the first time in India?
Correct : A. Digboi
36. In production sector, a micro enterprise is an enterprise where investment in plant and
Correct : D. 25 LAKH
37. Which of the following does not form part of current account under balance of payments?
Correct : D. Capital receipts and payments
38. Balance in capital account refer to the
Correct : D. Nation’s sum of net exports of goods, services and financial
39. Balance in capital account refer to the
Correct : A. National Development Council (NDC)
40. When was the first five-year plan of India started?
Correct : D. 1951
41. What as the prime target of the first five-year plan of India?
Correct : B. Development of Agriculture
42. Which programme given the slogan of Garibi Hatao?
Correct : D. 5th five-year plan
43. In which five-year plan India opted for a mixed economy?
Correct : D. Fourth
44. When was the plan holiday declared?
Correct : A. After the third plan
45. National Development Council is consists of:
Correct : D. A & C
46. Three annual plan were launched between:
Correct : B. 1966 to 1969
47. The best indicator of economic growth of any country is:
Correct : C. Gross Domestic Product
48. In agricultural sector net value added is estimated by
Correct : C. Production method
49. National income is
Correct : B. NNP at factor cost
50. To get the Net National Product, what is deducted from the Gross National Product:
Correct : D. Depreciation
51. Economic Development means economic growth with:
Correct : B. Social Change
52. The Planning Commission was formed on -
Correct : C. 15th March 1950
53. The Planning Commission was dissolved on
Correct : B. 17th August 2014
54. NITI Aayog, was formed via a resolution of the Union Cabinet on
Correct : C. 1st January 2015
55. NITI Aayog is the premier ‘Policy Think Tank’ of the Government of India, providing
Correct : A. directional and policy inputs
56. The major objectives of NITI Aayog are to -
Correct : C. Both of these
57. As per Union Budget documents, Nominal GDP of India in the year 2019-20 was
Correct : A. 2.96 Trillion USD
58. NITI Aayog has framed its initiatives for
Correct : B. “15-year Road map”, “7- year vision, strategy and 3 years action plans”
59. As per Ministry of Statistics & Program Implementation, what is the contribution of Primary sector to the GDP of India in the year 2018-19-
Correct : B. 15.87%
60. As per Ministry of Statistics & Program Implementation, what is the contribution of
Tertiary/ Services sector to the GDP of India in the year 2018-19-
Correct : A. 54.40 %
61. As per Ministry of Statistics & Program Implementation, what is the contribution of
secondary sector to the GDP of India in the year 2018-19-
Correct : C. 29.73%
62. When did India become the member of World Trade Organization
Correct : A. On 1 January , 1995
63. According to 'Ease of doing business index' what is India's ranking
Correct : A. 63
64. According to nominal Net State domestic product per capita ----- is the richest state in
India.
Correct : C. Goa
65. According to nominal Net State domestic product per capita ----- is the poorest state in
India.
Correct : B. Bihar
66. What is India's ranking on Human Development Index released by UNDP in the year
2019-
Correct : C. 129
67. Human Development Index assesses the parameter
Correct : D. All the three
68. The gender inequality index in India measures
Correct : B. discrimination between males & females
69. In gender inequality index India ranks at 122 out of 162 countries
Correct : C. 122
70. The Regional Councils of NITI Aayog include
Correct : D. All the three
71. "Antyodaya" scheme of NITI Aayog prioritizes
Correct : C. the service & upliftment of poor, marginalized & downtrodden
72. "Sustainability" as an indicator of economic growth means
Correct : C. responsible use of resources
73. First Five Year Plan was based on …
Correct : A. Harrod-Domar Model
74. Which one of the following programs has been implemented to establish girls’ schools in
the districts having low female literacy rate?
Correct : A. Kasturba Gandhi Education Scheme (KGES)l
75. In terms of total trade (export + import), which among the following is the largest trading partner of India?
Correct : B. China
76. A Closed economy means:
Correct : C. Neither exports nor imports
77. What is Literacy rate
Correct : C. Number of literate persons to total population
78. Measuring number of people who die is
Correct : C. Morality rate
79. The vicious circle theory states that
Correct : D. low per capita income creates low savings that keep incomes low
80. The rate of growth of an economy mainly depends upon:
Correct : D. All of the above
81. With economic growth, the proportion of labour-force engaged in agriculture:
Correct : B. Decreases
82. The Gini coefficient is a technique frequently used to show:
Correct : B. income inequality
83. Disguised unemployment means:
Correct : D. Marginal Productivity of Labour (MPL) is zero.
84. During the recessionary phase of a business cycle:
Correct : A. The natural rate of unemployment will increase dramatically
85. India is passing through the phase of population:
Correct : A. Explosion
86. If an economy is underdeveloped, it means:
Correct : D. All of the above
87. When and by whom was HDI introduced?
Correct : A. In 1990 by UNDP
88. Indicator of HDI is:
Correct : D. All of the above
89. Which plan gave emphasis on removal of poverty for the first time?
Correct : B. Fifth
90. Which are the economic consequences of problem of poverty?
Correct : D. All of the above
91. What is the full form of IRDP?
Correct : A. Integrated Rural Development Programme
92. What are the salient demographic features of India’s population?
Correct : D. All of the above
93. Having insufficient income to provide a minimum standard of living is
Correct : A. Absolute poverty
94. In which among the following year was ‘liberalized industrial policy’ in India was announced for the first time?
Correct : C. 1991
95. "Zero Defect Zero Effect" slogan is related to which of the following scheme?
Correct : B. Make in India
96. After agriculture, --------------provides highest employment to the local & neighborhood
residents.
Correct : C. Small scale sector
97. Parallel economy emerges due to
Correct : B. tax evasion
98. What was the main theme of the 12th five-year plan of India
Correct : B. Faster, more inclusive and sustainable growth