1. Which of the following explains the term economic growth?
Correct : D. All the above are right
2. Economic development is characterized by
Correct : C. Both A and B
3. Underdevelopment is defined in terms of?
Correct : B. Per capita income
4. Which of the following explains the term economic development?
Correct : D. All the above
5. Which of the following is generally regarded as the true index of economic growth?
Correct : A. An increase in national income at constant prices during a year
6. The concept of economic growth is___________.
Correct : B. Narrower than the concept of economic development
7. Which of the following is not an indicator of economically underdeveloped countries?
Correct : C. Low proportion of labour force in the primary sector
8. The rate of growth of an economy mainly depends upon ___________ .
Correct : D. All of the above
9. Among the following determinants of growth, which is a non-economic factor?
Correct : C. Favourable legislation
10. Besides increase in output, economic development is concerned with:
Correct : D. All of the above
11. Economic growth can be measured by __________ .
Correct : C. GDP
12. Economic growth can be seen by an outward shift of __________ .
Correct : A. The Production Possibility Frontier
13. Development economics is the study of the
Correct : D. All of the above.
14. A good definition of the meaning of development is the __________.
Correct : D. All of the above.
15. Development economics must have a scope wider than traditional economics because
Correct : C. Transformation of social institutions is necessary for development.
16. The concept of Economic Planning in India is derived from?
Correct : D. Russia
17. Economic development refers to __________.
Correct : B. Economic growth plus changes in output distribution and economic structure.
18. Economic development means__________.
Correct : B. Economic growth plus structural and qualitative changes.
19. In the Ricardian scheme of things, savings are provided by .
Correct : B. Capitalists
20. Which one of the following statements is not in tune with the Ricardian theory of growth?
Correct : D. Profits tend to rise
21. Which one of the following is not an assumption of the Ricardian theory?
Correct : A. Rising real wages
22. Ricardo built his theory round .
Correct : C. Wages
23. In the Ricardian system, a crucial role in development was assigned to .
Correct : C. Profits
24. Which of the following models uses three distinct concepts of stages of growth?
Correct : B. Harrod model
25. The classical theory of economic development is of relevance for the less developed
countries today because it lays emphasis on .
Correct : D. All of the above
26. Which growth model inspired the use of capital-output ratio for development planning?
Correct : A. the Harrod-Domar model
27. Which of the following models makes the assumption of constant saving-income ratio?
Correct : C. Harrod-Domar model
28. The Harrod-Domar model is one of the well- known models of growth. Which of the two
authors of this model wrote earlier and in which year?
Correct : B. Harrood in 1939
29. The concept of economic growth is __________ .
Correct : B. Narrower than the concept of economic development
30. Economic growth in India will happen necessarily if there is .
Correct : B. Capital formation
31. Which of the following is inconsistent with Adam Smith’s theory of development?
Correct : B. There is no limit to the growth process
32. Karl Marx ideas about development theory are available in __________ .
Correct : C. Capital: A Critique of Political Economy
33. In Schumpeter’s theory of development maximum stress has been laid on:
Correct : D. Entrepreneurship
34. Which sector was emphasised most by Ricardo in the context of economic growth?
Correct : C. Agriculture
35. Which one of the following, according to Ricardo, would form a bottleneck to economic
growth?
Correct : A. Shortage of land
36. Which of the following is inconsistent with the Schumpeter's theory of development?
Correct : A. The course of growth is continuous
37. According to the Schumpeter's model, the innovating entrepreneurs get the necessary finance
from__________.
Correct : C. Bank Credit
38. Which one of the following was given a central place by Schumpeter in his theory of
development?
Correct : D. Role of innovations
39. In which year was the first volume of Das Capital be Karl Marx published?
Correct : C. 1867
40. Myrdal builds his theory of economic development around the idea of__________ .
Correct : C. Both A and B
41. The concept of, Vicious Circle of Poverty’ is related to __________.
Correct : B. Nurkse
42. Who formulated the theory of circular and cumulative causation which explains the perpetuation of underdevelopment through growing inequalities between developed and the underdeveloped countries?
Correct : B. Gunnar Myrdal
43. In the context of which region was the 'big push' strategy of development formulated?
Correct : C. Eastern Europe
44. Which among the following is a characteristic of underdevelopment?
Correct : A. Vicious circle of poverty
45. Who fixes the poverty line?
Correct : D. Planning Commission
46. The basic logic behind the ‘big-push’ strategy of development is related to .
Correct : B. External economies
47. Under the ‘big-push’ strategy of development, large investments are to be directed towards
__________.
Correct : A. Agriculture
48. The division of labour, according to Adam Smith, is limited by __________.
Correct : C. Both (a) and (b)
49. The 'big-push' strategy of development was first advocated by:
Correct : A. Paul N-Rosenstein-Rodan
50. Who has given "Big Push Theory"?
Correct : A. R. Rodan
51. Development with unlimited supplies of labour hypothesis was originally formulated by
__________.
Correct : B. W. A. Lewis
52. Identify the economist who first advocated a rolling plan for developing countries?
Correct : C. G. Myrdal
53. Gunnar Myrdal was awarded Noble Prize for Economics in 1974. What is his nationality?
Correct : C. Swedish
54. How much population is living below poverty line in India ?
Correct : C. Approx 26%
55. Economic growth measures the?
Correct : C. Increase in output
56. The basic characteristic of an underdeveloped economy is__________ .
Correct : A. Low income and poverty
57. According to Lewis’s model, the dual economy grows only when __________ .
Correct : A. The modern sector increases its output share relative to the traditional sector.
58. The vicious circle theory states that __________ .
Correct : D. Low per capita income creates low savings that keep incomes low.
59. Who have written the book "Capital and Growth"?
Correct : B. Hicks
60. SEZ India mobile app has been launched in January 2017 by __________.
Correct : C. Ministry of Commerce and Industry
61. Which among the following is First Indian Special Economic Zone (SEZ)?
Correct : B. Kandla SEZ
62. According to the supply side of the vicious circle theory of development a country is poor
because .
Correct : B. It was previously too poor to save and invest
63. The synchronized application of capital to a wide range of different industries is called
__________ by its advocates.
Correct : A. Balanced growth
64. For Rosentein Rodan a major indivisibility is in __________.
Correct : B. Infrastructure
65. Economic growth is important because __________.
Correct : D. People want higher incomes and more consumer goods.
66. The golden-rule saving rate is the rate of saving that __________.
Correct : C. Maximises the level of long-run consumption
67. Backward and forward linkage are relevant for which kind of growth strategy?
Correct : A. Unbalanced growth
68. Two economists have been particularly associated with the formulation of development with
surplus labour hypothesis. One is R. Nurkse. Who is the other?
Correct : B. James S. Duessenberry
69. The concept of economic growth is __________.
Correct : B. Narrower than the concept of economic development
70. The rate of growth of an economy mainly depends upon:
Correct : D. All of the above
71. To achieve full economic growth, Malthus laid special emphasis on the proper combination
of__________.
Correct : A. Production and distribution
72. According to R. Nurkse, the inducement to invest in the context of an underdeveloped
economy is limited mainly by the:
Correct : B. Size of the market
73. We can increase rate of economic growth in India if we increase:
Correct : C. Investment
74. When an economy produces more output per capital the economy is said to be having:
Correct : B. Economic growth
75. By growth rate of an economy can be speeded up.
Correct : C. Investment in human capital formation
76. Gross domestic capital formation is defined as__________.
Correct : D. Net addition to stock after depreciation
77. Economic growth in India will happen necessarily if there is?
Correct : B. Capital formation
78. The most important indicators of HRD .
Correct : C. Both a and b
79. The capital-output ratio is determined by:
Correct : D. All of the above
80. HRD ways in education planning is / are.
Correct : D. All the above
81. Investment in human capital is related with expenditure in __________ .
Correct : D. All the above
82. Mechanism of Human Resource Development includes
Correct : D. All of the above
83. Which of the following is correct regarding the Gross Domestic Savings in India?
Correct : A. Contribution of Household sector is the largest
84. Which of the following would typically be considered “human capital”?
Correct : A. Gender and race
85. On which date Swachh Bharat Abhiyan was launched?
Correct : A. 2nd October
86. Swachch Bharat Mission (Rural) programme comes under which ministry?
Correct : B. Ministry of Drinking Water and Sanitation
87. According to the human capital view of education __________.
Correct : B. Increases human capital and the wages of workers