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Indian Economy Model Test 9 in English

Indian Economy Model Test Questions 9 in English

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Question 1
Human Development Index (HDI) does not include which of the following socio-economic indicators?
A
Infant mortality rate
B
GNP per capita
C
Life expectancy
D
Literacy rate
Question 2
Structural unemployment arises due to
A
deflationary condition
B
heavy industry bias
C
shortage of raw materials
D
inadequate productive capacity
Question 3
Which committee fixed poverty line in India?
A
Laksawala Committee
B
Narshiman Committee
C
Rangarajan Committee
D
None of these
Question 4
The Rao-Manmohan model of Economic development was initiated in the year
A
1982
B
1985
C
1991
D
1995
Question 5
Chronic poverty, refers to the persons/ households who have been
A
poor for a long duration
B
poor by birth
C
poor in terms of low food consumption
D
living below the poverty line
Question 6
Prevention of scheduled castes from the use of public wells and from entering schools is called
A
social disabilities
B
religious disabilities
C
economic disabilities
D
intellectual disabilities
Question 7
Where in India are coins minted?
A
Delhi, Mumbai and Kolkata
B
Delhi, Kolkata and Hyderabad
C
Mumbai, Delhi and Bangalore
D
Mumbai, Kolkata and Hyderabad
Question 8
The reason for decrease in national income is not due to
A
growth of population
B
growth of production
C
growth of expenditure
D
growth of consumption
Question 9
Population explosion is associated with
A
high birth rate and low death rate
B
high birth rate and high death rate
C
low birth rate and high death rate
D
low birth rate and low death rate
Question 10
Productivity in Indian Agriculture is low because of
A
inefficient farming techniques
B
lack of cheap and easy availability of credit
C
absence of irrigation over a large part of the sown area
D
all of these
Question 11
“Capital is essential only but it is not enough for the development”. This was said by
A
Nurkse
B
Dorner
C
Adam Smith
D
Marshall
Question 12
Which of the following is not included in the primary sector?
A
forestry
B
fishing
C
water supply
D
mining and quarrying
Question 13
Among the following products exported to western countries in which India stood first?
A
Pepper
B
Sandal
C
Pearl
D
Ivory
Question 14
The lead bank scheme was introduced during
A
1960
B
1965
C
1968
D
1972
Question 15
The basic distinction between urban and rural settlements is the
A
population size
B
population density
C
function
D
location
Question 16
In export trade, letter of credit  is produced by
A
an exporter
B
an importer
C
customs authority
D
shipping company
Question 17
The per capita income of an economy can be calculated by
A
dividing GDP by population
B
dividing GNP by population
C
multiplying GNP by population
D
dividing GNP by number of people employed
Question 18
Bank rate is raised during
A
deflation
B
inflation
C
stable prices
D
unemployment
Question 19
The three tier Panchayat Raj system was introduced by
A
Ashok Mehta Committee
B
Balwani Rai Mehta Committee
C
Reforms Committee
D
Administrative Committee
Question 20
The ‘Great Depression’ occurred in
A
1830
B
1930
C
1980
D
1880
Question 21
The first Five-year plan of India was launched n
A
1947
B
1951
C
1956
D
1961
Question 22
Which one of the following public enterprises is not a ‘Navaratna’ category?
A
Oil and Natural Gas Corporation (ONGC)
B
Mahanagar Telephone Nigam Limited (MTNL)
C
Bharat Sanchar Nigam Limited (BSNL)
D
Indian Oil Corporation (IOC)
Question 23
The first Indian Bank was
A
Trade Bank
B
Imperial Bank
C
Presidency Bank Calcutta
D
None of these
Question 24
C2C is
A
Consumer to Consumer
B
Customer to Customer
C
Customer to Consumer
D
All of these
Question 25
By which type of Bank Account can the holder deposit or withdraw money many numbers of times in a day without restriction?
A
Savings Account
B
Fixed Deposit
C
Current Account
D
Recurring Deposit
Question 26
Which country stands first in planning?
A
Soviet Russia
B
India
C
America
D
Japan
Question 27
The first Agricultural Census in India was conducted in
A
1965-66
B
1970-71
C
1975-76
D
1980-81
Question 28
  1. Subba Rao is the Governor of Reserve Bank of India. What does ‘D’ stand for?
A
Durvi
B
Duvvi
C
Divivi
D
Duvvuri
Question 29
The GDP growth target of 10th plan was
A
8.7%
B
9%
C
9.3%
D
8%
Question 30
The first Planning Commission of India was set up in
A
May, 1960
B
July, 1953
C
March, 1950
D
June, 1973
Question 31
Which of the following non-economic factors determine the economic development of a country?
  1. Social set up             II. Religion
III. Caste                                                   IV. Enterpreneur Of these:
A
I and II are correct
B
I, III and IV are correct
C
I, II and III are correct
D
IV alone is correct
Question 32
The foremost economic problem of India’s agricultural labourers is
A
low income
B
heavy indebtedness
C
poor standard of living
D
absence of organized activity
Question 33
Industrial sickness is nothing but
A
any one part of the factory is being affected
B
unable to pay back the dept
C
unable to create surplus income and running the industry only by receiving the debt
D
change in the ownership of industry
Question 34
The indicator(s) of development according to modern ideology is/are
A
growth in national income
B
growth in per capita income
C
high rate of capital
D
all of these
Question 35
New Entrepreneurs Agency was established in
A
1956
B
1961
C
1980
D
1986
Question 36
Female literacy rate is below 30% (2001 census) in the districts of
A
Kerala
B
Tamil Nadu
C
Uttar Pradesh
D
Karnataka
Question 37
During the second Five-year plan period, the planners worked out the capital output ratio at
A
1 : 5 : 1
B
5 : 4 : 1
C
2 : 3 : 1
D
4 : 3 : 7
Question 38
The expansion of HDI is
A
Hindi Development Institute
B
Human Development Index
C
Human Development Investment
D
None of these
Question 39
Who is the Governor of Reserve Bank of India at present?
A
B.Y. Reddy
B
C. Rangarajan
C
Bimal Jalan
D
D. Subbarao
Question 40
Who is the chairman of 12th Finance Commission?
A
C. Rangarajan
B
K.C. Panti
C
Kelkar
D
Madhavan Ravindra
Question 41
Which of the following is not correctly matched?
A
Central Vigilance Commission - Kripalani Committee
B
Father of All India Service - Sardar Vallabhai Patel
C
Secretary Genral of Non-Aligned - Dr. Rajendra Prasad
D
Union Public Service Commission - A.M. Khusru
Question 42
Agricultural holding tax was recommended by
A
John Mathai Committee
B
Bhoothalingam Committee
C
Wanchoo Committee
D
Raj Committee
Question 43
Indra Awas Yojana (IAY) scheme aimed at
A
providing loan assistance
B
providing houses at free of cost
C
providing transport facilities
D
none of these
Question 44
Which commodity forms the single largest item if India import?
A
Capital goods
B
Food and allied products
C
Gold
D
Oil(fuel)
Question 45
As per  RBI stipulation domestic banks are required to provide _______percent of their net bank credit to priority sector
A
32
B
40
C
10
D
25
Question 46
The Rajiv Gandhi Udyami Mitra Yojana was launched in
A
2006
B
2007
C
2008
D
2009
Question 47
The National Rural Employment Programme was implemented in Tamil Nadu in the year
A
1980
B
1990
C
1970
D
1960
Question 48
Economic drain theory was populated by
A
The Britishers in India
B
Dadabhai Naoroji
C
Vera Anstey
D
V.V. Bhatt
Question 49
The policy RBI follows for control of inflation is
A
increase in Repo rate and CRR
B
decrease in Repo rate and increase in CRR
C
decrease in Repo rate and CRR
D
decrease in bank rate
Question 50
Consider the following statements:
  • Assertion (A): Increased spending on civil administration and defence expenditure in India’s national income is an unwelcome feature.
  • Reason(R): The contribution of these sector does not generate durable income yielding assets to the country.
Now select your answer according to the coding scheme given below:
A
Both (A) and (R) are true, but (R) is not the correct explanation of (A)
B
Both (A) and (R) are true and (R) is not correct explanation of (A)
C
(A) and (R) are false
D
(A) is true but (R) is false
Question 51
Prime Minister Employment Generation Program (PMEGP) was implemented in India by merging the schemes of
A
PMRY and REGP
B
NREP and IRDP
C
IAY and IRDP
D
SFDA and MFAL
Question 52
The most dominant contributor to GDP in recent years is
A
agriculture
B
industry
C
services
D
exports
Question 53
Which of the following is a feature of Tamil Nadu economy?
A
High rural – urban migration
B
Low man-farm employment
C
High urbanization
D
Low urbanization
Question 54
Which one of the following sectors is the major contributor(s) to Tamil Nadu state’s gross domestic product?
A
Agriculture & Allied sectors
B
Secondary sector
C
Service sector
D
Informal sector
Question 55
When there is increase in economic development the share of tertiary (service) sector in National Income will
A
increase
B
decrease
C
remain constant
D
remain proportional
Question 56
Who was not the member of the first National Income Committee of 1949 ?
A
P.C. Mahalanobis
B
D.R. Gadgil
C
Dadabhai Naoroji
D
V.K. R.V. Rao
Question 57
India is a member of which of the following?
A
Asian Development Bank
B
Asia- Pacific Economic Corporation
C
Colombo Plan
D
Organization for Economic Co-operation and Development
Question 58
Consider the following statements
  • Assertion(A): Regional disparities in development have been continuously decreasing in India due to planning.
  • Reason(R): New technology in Indian agriculture is size neutral but not resource nrutral.
  • Now select your answer according to the coding scheme given below:
A
Both (A) and (R) are true, but (R) is not the correct explanation of (A)
B
Both (A) and (R) are true and (R) is not correct explanation of (A)
C
(A) is true but (R) are false
D
(A) is true but (R) is false
Question 59
The Special Economic Zone Act was passed in Indian Parliament in
A
May 2005
B
April 2004
C
May 2008
D
April 2007
Question 60
Which is the largest public sector bank in India?
A
Indian Bank
B
Indian Overseas Bank
C
Canara Bank
D
State Bank of India
Question 61
The first ‘Special Economic Zone’ created in Tamil Nadu is in
A
Coimbatore
B
Chennai
C
Madurai
D
Salem
Question 62
Which of the following is a direct tax?
A
Sales tax
B
Excise duty
C
Excise duty
D
None of these
Question 63
Double counting means
  1. Counting the value of a product at the final stage of production.
  2. Counting the value of a product at each stage of production
  3. Counting the value of a product more than once
A
I only
B
III only
C
I and II
D
I and III
Question 64
Which Five Year Plan gave importance to development of basic and heavy industries?
A
I
B
II
C
III
D
IV
Question 65
The planning commission was set up in
A
1947
B
1948
C
1949
D
1950
Question 66
When was Agricultural Price Commission set up?
A
1950
B
1955
C
1965
D
1975
Question 67
When was National Agricultural Insurance Scheme introduced?
A
1979-1980
B
1989-1990
C
1999-2000
D
2009-2010
Question 68
The architect of the Second Five Year Plan
A
Jawaharlal Nehru
B
Indira Gandhi
C
V.V. Giri
D
P.C. Mahalanobis
Question 69
SARFAESI Act was introduced for the purpose of
A
controlling stock exchanges
B
regulating capital markets
C
streamlining the financial system
D
enabling the banks to realize their views
Question 70
What is Broad money?
A
Currency with public + demand deposits of the public
B
Currency with public + post office savings deposits
C
Currency with public + time deposits of public with banks + demand deposits
D
Currency with public + derived deposits
Question 71
Disposable income is equal to
A
personal income minus subsidies
B
personal income minus taxes
C
personal income minus transfer payment
D
national income minus depreciation
Question 72
Annual rate of inflation of all commodities is 2009-10 was
A
14.4%
B
10%
C
8%
D
11%
Question 73
What is the rank of Tamil Nadu in economic growth among the states in India during 2009-10?
A
3rd
B
4th
C
5th
D
6th
Question 74
The largest contribution to GDP still comes from
A
agriculture
B
manufacturing industries
C
construction
D
services
Question 75
Which one of the following factors does not influence velocity of circulation of money?
A
Quantity of money
B
Selling cost of business firms
C
Credit facilities
D
Business conditions
Question 76
Commonwealth Bank of _______ in August 2010, opened its first Branch in India in Mumbai
A
Denmark
B
Austrialia
C
Canada
D
Ireland
Question 77
Which one of the following comes under NBFIs?
A
Commercial Bank
B
Co-operative Bank
C
UTI
D
None of these
Question 78
In money supply M3= M1+
A
net time deposits of banks
B
total deposits with Post Office savings bank
C
net demand deposits of banks
D
none of these
Question 79
Inflation is most often caused by
A
supply side forces increase costs to producers
B
demand side forces which depress the level of consumer spending
C
rapid expansion of money supply
D
unreasonable wage demands by labour unions
Question 80
An increases in the growth rate of money supply is most likely to be followed by
A
recession
B
decline in economic activity
C
recession and decline in economic activity
D
inflation
Question 81
Match List I correctly with List II and select your answer using the codes given below: Concepts of National Income List I                                 List II
  1. GNP 1. Value of output produced by factors of production by domestic residents
  2. GDP 2. GNP- depreciation
  3. NNP 3. GDP_ depreciation
  4. NDP 4. GDP + Income from abroad
A
2 3 1 4
B
3 4 1 2
C
4 1 2 3
D
1 2 3 4
Question 82
An example of indirect tax is
A
Income tax
B
Sales tax
C
Wealth Tax
D
Gift tax
Question 83
The non tax  revenue of the Central Government does not include
A
fiscal services
B
dividend and profits
C
economic services
D
customs duties
Question 84
If the GDP is measured at the price prevailing at a point of time, then it is called
A
GDP current price
B
GDP market price
C
GDP constant price
D
(A)+(B)+(C)
Question 85
The product method of measuring GDP involves
A
incomes generated from the production of goods and services
B
adding up the value of everything produced in the country during the year
C
adding up all expenditures of final output
D
none of the above
Question 86
A higher interest rate might induce households to ______ but businesses to _______
A
save more, borrow less
B
save less, borrow more
C
save more, borrow more
D
save less, borrow less
Question 87
A developing economy has the following features
A
Low per capita income, chronic unemployment occupational pattern
B
Population pressure
C
Only (A)
D
(A) and (B)
Question 88
Deflation refers to a condition of _______ prices.
A
falling
B
rising
C
constant
D
moderate
Question 89
Which is the correct sequence of various sectors in GDP of India in the descending  order?
A
Primary sector, Secondary Sector, Tertiary sector
B
Primary sector, Tertiary sector, Secondary sector
C
Secondary sector, Tertiary sector, Primary sector
D
Tertiary sector, Secondary sector, Primary sector
Question 90
The National Food Security Act was gazette in
A
September, 2013
B
August 2013
C
September 2012
D
August 2012
Question 91
Net National Income (NNI) does not include
A
Indirect business taxes
B
Corporate income taxes
C
Depreciation charges
D
The rental value of house-owners
Question 92
Till which Five Year Plan, employment strategy had been growth linked?
A
Fifth Five Year Plan
B
Sixth Five Year Plan
C
Seventh Five Year Plan
D
Eighth Five Year Plan
Question 93
Given below are two statements, one labeled as assertion (A) and the other labeled as:
  • Assertion(A): India’s Public Sector helped in the development of a sound industrial base,
  • Reason (R): Public Sector is under State Information Appropriate Policies and providing financial and other support has helped the Public Sector.
A
(A) is correct but (R) is wrong
B
Both (A) and (R) are correct
C
(A) is wrong but (R) is correct
D
Both (A) and (R) are wrong
Question 94
Rate of saving is measured as a proportion of Gross Domestic Product (GDP) at
A
Constant prices
B
Market prices
C
Relative prices
D
None of the above
Question 95
National Income is
A
Income of the Central Government
B
Income of the Central & State Government
C
Total of factor incomes
D
Profits of the Public sector
Question 96
The new agricultural technology can best be described as
A
Land augmenting
B
Labour augmenting
C
Labour displacing
D
Labour displacing
Question 97
The socialist pattern of society was first articulated in the
A
first five year plan
B
Annual plan
C
Second plan
D
Eighth plan
Question 98
The Eleventh five year plan was implemented during the period
A
2005-2010
B
2002-2007
C
2007-2012
D
2006-2011
Question 99
According to the National Human Development Report (NHDR) 2001, Tamil Nadu scored the
A
7th rank
B
3rd rank
C
4th rank
D
9th rank
Question 100
Who among the following computed National Income on the basis of scientific method?
A
Prof. Mahalanobis
B
Dr. K.N. Raj
C
Dr. V.K. R.V. Rao
D
Dr. Vakil
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