1. Which of the following explains the term economic growth?
Correct : D. all the above are right
2. Which of the following explains the term economic development?
Correct : D. All the above
3. An underdeveloped economy is characterized by
Correct : C. State of deprivation of large proportion of population
4. Scarcity of capital, technological backwardness and unemployment are generally
found in
Correct : B. Underdeveloped countries
5. Which of the following denotes an underdeveloped economy?
Correct : D. All the above
6. Capital formation in underdeveloped countries is a major bottleneck. The reason
can be
Correct : D. All the above
7. Consider the following statements and identify the right ones.
i. Higher level of capital-output ratio indicates efficient use of capital. ii. It reflects the productivity of capital in the economy
Correct : B. ii only
8. Which of the following about strategy of balanced growth is right?
Correct : A. Simultaneous investment in all sectors
9. Which of the following about strategy of unbalanced growth is right?
Correct : A. Deliberate imbalance in favor of some sectors
10. The additional capital used per unit of additional production is called
Correct : C. Incremental Capital Output ratio
11. Depression is characterized by
Correct : D. All the above
12. Consider the following statements and identify the right ones.
i. During independence, Indian economy was heavily dependent on the tertiary sector ii. Development of industrial and services sector was not limited.
Correct : D. none
13. Consider the following statements and identify the right ones.
i. The share of agriculture to the GDP today is less than 5% today ii. The tertiary sector contributes about 55%of the occupational structure. (employment)
Correct : D. none
14. Dual economy refers to existence of
Correct : C. Traditional and modern aspects in the economy
15. Mixed economy means an economy where there is
Correct : C. Existence of both public and private sectors
16. Indian economy today is a
i. Developing economy ii. Emerging economy iii. Dual economy iv. Non-agricultural economy
Correct : B. I, ii and iii
17. Consider the following statements and consider the right ones.
i. In India, structure of economy and occupational structure is very similar. ii. Today, Tertiary sector contributes the highest to the GDP.
Correct : B. ii only
18. Arrange in the right order the contribution of sectors to the GDP from highest
to lowest.
Correct : C. Tertiary, manufacturing, agriculture
19. The financial year in India is
Correct : A. April 1 to March 31
20. Consider the following statements and identify the right ones.
i. National income is the monetary value of all final goods and services produced. ii. Depreciation is deducted from gross value to get the net value
Correct : C. both
21. The state with lowest death rate is
Correct : A. West Bengal
22. The state with lowest birth rate is
Correct : B. Kerala
23. Consider the following statements and identify the right ones.
i. The Planning Commission was set up by the Government resolution. ii. It formulates plans for effective utilization of resources.
Correct : C. both
24. Economic growth in India will happen necessarily if there is
Correct : B. Capital formation
25. An open economy is one where
Correct : D. Economy opened to the world
26. Which three indicators are used in the Human Development Index (HDI)?
i) Standard of living ii) Education iii) Life expectancy iv) Condition of environment
Correct : B. Only I, II, & III
27. Who releases the Human Development Report?
Correct : C. United Nations
28. Who secured the top rank in The Human Development Report 2018?
Correct : B. Norway
29. What is the rank of India in the Human Development Index 2018?
Correct : D. 130th
30. When was the Gender Inequality Index (GII) introduced?
Correct : A. 2010
31. Who invented the Human development Index?
Correct : B. Mahbub –ul Haqq
32. Who releases the Multidimensional Poverty Index (MPI)?
Correct : C. UNDP
33. Which of the following about strategy of unbalanced growth is right?
Correct : A. Deliberate imbalance in favour of some sectors
34. Consider the following statements and identify the right ones.
i. Unbalanced growth strategy is also known as Mahalanobis strategy ii. This strategy was adopted in India after the 7th five-year plans.
Correct : A. I only
35. The concept of PQLI was developed by
Correct : A. Morris D Morris
36. The parameter/s of the PQLI is/are
Correct : D. A and C
37. Consider the following statements and identify the right ones
i. The Oxford PHI publishes Human Development Report ii. The HDR is published biennially.
Correct : D. none
38. The concept of HDI was popularized by
Correct : D. Mahbub Ul Haq
39. The component/s of HDI is/are
Correct : A. Life expectancy index
40. The Multidimensional Poverty Index has been developed by
Correct : B. Oxford HDI
41. Which of following is not a component of MPI?
Correct : C. Occupation
42. Consider the following statements and identify the right ones.
i. Each indicator in educational dimension is equally weighted at 1/6 ii. Each indicator in standard of living is equally weighted at 1/8
Correct : A. I only
43. Which of the following is not an indicator to measure MPI?
Correct : D. Profession
44. Which of the following was the 1st state to bring out state HDR?
Correct : C. Madhya Pradesh
45. The investment by government to create socio-economic infrastructure is
Correct : B. Autonomous investment
46. Inclusive governance includes
Correct : D. All the above
47. Which one of the following is NOT one of the dimensions to the Human
Development Index?
Correct : D. Political freedom
48. Which one of the following is NOT one of the indicators for the Human
Development Index dimensions?
Correct : B. Gross domestic product per capita
49. Indian agriculture is typically characterized as?
Correct : C. land scare, labour surplus economy
50. The National Bank for Agriculture and Rural Development (NABARD) was
established in the year?
Correct : D. 1982
51. NABARD (National Bank for Agriculture and Rural Development) was established in
the?
Correct : C. Sixth Five Year plan
52. Which Indian state produces the largest quantity of pulses?
Correct : C. Madhya Pradesh
53. Which agency is responsible for procurement, distribution and storage of food grain
production in India?
Correct : B. Food Corporation of India
54. Who regulates the markets in agricultural products in India?
Correct : B. Agricultural Produce Market Committee (APMC) Act enacted by States
55. Which sector is the backbone of Indian economy?
Correct : D. Agriculture Sector
56. Which among the following is not a cereal?
Correct : C. Gram
57. Which among the following does not belong to welfare schemes for the farmers?
Correct : D. Employee Referral Scheme
58. When did the Government present Kisan Credit Card Scheme?
Correct : B. August 1998
59. Which is the highest food grain producing Indian state, as per 2013-14?
Correct : C. Uttar Pradesh
60. Which is the highest Pulses producing Indian state, as per 2013-14?
Correct : A. Madhya Pradesh
61. Which Indian state has the largest irrigated agricultural area, as per 2010 survey?
Correct : D. Uttar Pradesh
62. Which is the largest rice producing Indian state, as per 2013-14 records?
Correct : C. West Bengal
63. Which is the largest jowar producing Indian state, as per 2011-12 records?
Correct : D. Maharashtra
64. Which is the leading Indian state in cotton production, as per 2013-14 records?
Correct : B. Gujarat
65. Which is the leading Indian state in groundnut production, as per 2013-14 records?
Correct : B. Gujarat
66. Which is the highest coconut producing Indian state, as per 2013-14 records?
Correct : B. Kerala
67. The characteristic features of Indian Agriculture are:
1. Labour surplus economy 2. Structural unemployment 3. Large size of land holding 4. Traditional technology of production Which statements are correct?
Correct : C. 1 and 4
68. The Apex institution in the spare of agriculture credit is:
Correct : D. NABARD
69. As we know, a lot of people from underdeveloped states migrate to various progressive states as agricultural labour. What are the major problems of agriculture in India owing to which people have to leave their own land and work as laborer on somebody else’s farm/land?
1. Lack of irrigation facilities, low productivity of land and uncertain monsoon. 2. Non availability of fertilizers etc. on subsidized rates. 3. Single crop cultivation. Select the correct option
Correct : D. All the three Ans:
70. Marginal land holding is when,
Correct : A. Owning less than one hectare of land
71. Arrange in the right order the contribution of sectors to the GDP from highest to
lowest.
Correct : C. Tertiary, manufacturing, agriculture
72. What are the real problems of the Indian agriculture?
I. Dependence on Erratic Monsoon II. Low productivity III. Constraints of financial resources and indebtedness IV. Lack of land reforms V. Small land size and fragmentation of landholdings
Correct : D. All
73. What as the prime target of the first five-year plan of India?
Correct : B. Development of Agriculture
74. Approx. __ % of Indian population is still Agriculturist.
Correct : C. 58%
75. Contribution of agriculture to Gross National Product is approximately?
Correct : D. 17.5%
76. Which of the following is the commercial crop in India?
Correct : D. All of the above
77. Who approves the Fair and Remunerative Price (FRP) of sugarcane?
Correct : A. Cabinet Committee on Economic Affairs
78. The Green Revolution in India was the outcome of the efforts of who amongst the
following?
Correct : A. M.S. Swaminathan
79. Consider the following statements and identify the right ones.
i. The Industrial Policy of 1948 was the first industrial policy statement by the Government ii. It gave leading role to the private sector
Correct : A. I only
80. Consider the following statements and identify the right ones.
i. As per the 1948 policy, six industries were under the mixed sector ii. New units could be set up by the private sector
Correct : A. i only
81. Which of the following was not an objective of the 1956 industrial policy?
Correct : D. None of the above
82. Consider the following statements and identify the right ones.
i. The 1980 industrial policy emphasized "economic federalism" ii. Liberal license policies were advocated for agro-based industries
Correct : C. both
83. The most urgent problem which prompted the introduction of the New Economic Policy
in 1991 was
Correct : B. All of these
84. Which of the following industries are to be given compulsory licensing?
Correct : D. All the above
85. Which of the following industries was de-reserved in 1993?
Correct : C. Mining of copper and zinc
86. Which of the following is not a Maha-Ratna industry?
Correct : D. Airports Authority of India
87. Which of the following is a nav Ratna category unit?
Correct : D. All the above
88. Consider the following statements and identify the right ones.
i. The new manufacturing policy aims to create 100 million jobs and increase share of manufacturing sector in the GDP ii. A special purpose vehicle is created to develop infrastructure on PPP mode
Correct : C. both
89. Which of the following statements is correct?
Correct : A. The public sector was given a dominant position in the newly Independent India
90. All of the following developments were noticed during 1991 (when economic
reforms were enforced) except one. Identify it.
Correct : C. Foreign reserves were maintained at a very high level.
91. At present only __________ industries are reserved for the public sector.
Correct : D. 3
92. At present there are only _________ industries for which licensing are compulsory.
Correct : B. 3
93. At present, in which sector 100 per cent FDI is allowed in India?
Correct : B. Drugs and pharmaceuticals
94. As a result of the New Industrial Policy, 1991:
Correct : C. Prior approval of central government for establishing new undertakings and expanding existing undertaking is not requir
95. Which of the following is also known as International Bank for Reconstruction and
Development?
Correct : D. World Bank
96. In which among the following year was ‘liberalized industrial policy’ in India was
announced for the first time?
Correct : C. 1991
97. Increase in aggregate output of goods and services
Correct : C. Economic growth
98. The economic reforms were intended to take the Indian economy into three specific
directions which are
Correct : A. LPG
99. LPG stands for
Correct : A. Liberalisation, Privatisation, Globalisation
100. Under the industrial policy of 1991, the number of industries reserved for the
public sector have been reduced from 17 to