EconomicsOnline Test
Indian Economy Model Test 4 in English
Indian Economy Model Test Questions 4 in English
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Question 1 |
The main proposal of Dunkel Draft with reference to agriculture is
reduction in agriculture subsidy | |
introduction of modern methods of cultivation | |
promotion of agriculture marketing | |
none of these |
Question 2 |
Economic development depends on
quantity of human resources | |
quality of human resources | |
area of land | |
none of these |
Question 3 |
Rural Poverty is due to
lack of adequate employment | |
surplus labour | |
low wage rate | |
all of these |
Question 4 |
Census in India is conducted every
5 years | |
10 years | |
12 years | |
3 years |
Question 5 |
The important objective of the development of the Co-operative sector are
prevention of concentration of economic power | |
wider dispersal of ownership of productive resources | |
active involvement of people in the development programme | |
all these |
Question 6 |
Family planning in India has to face a number of obstacles in rural areas because of
Psychological factors and social orthody | |
unawareness of the use of family planning | |
corruption by the administrators | |
none of these |
Question 7 |
A strategy of industrialization an development of the industries was adopted in
First Five Year Plan | |
Second Five Year Plan | |
Third Five Year Plan | |
Fifth Five Year Plan |
Question 8 |
Mixed Economy means
private sector and public sector functional together | |
production by the private sector alone | |
means of production under Government Control | |
traditional social activities |
Question 9 |
Tax revenue is distributed between the Central and State Government by the
Planning Commission | |
Election Commission | |
Finance Commission | |
Public Accounts Committee |
Question 10 |
In recent years, the Indian Economy has been characterized as a
backward economy | |
developed economy | |
developing economy | |
none of these |
Question 11 |
Which of the following is the most important objective of five year planning of India?
Reducing price instability | |
Increasing capital economy | |
Increasing per capital income | |
Reducing unequality of income and wealth |
Question 12 |
Central Banking functions in India are performed by the
Reserve Bank of India | |
Central Bank of India | |
Bank of India | |
State Bank of India |
Question 13 |
Which item earns maximum foreign exchange for India?
Leather and leather goods | |
Spices | |
Medicines | |
Rice |
Question 14 |
Indian agriculture is at present
commercial | |
commercial | |
export surplus | |
self sufficient with little surplus |
Question 15 |
Inflation is calculated by Finance Ministry on the basis of
consumer price index | |
cost of living index | |
wholesale price index | |
retail price index |
Question 16 |
Poverty line is an indicator of
rural population | |
unemployment | |
low food intake | |
weak government |
Question 17 |
India’s recent industrial development is due to
low interest rate | |
larger number of entrepreneurs | |
privatization | |
liberal industrial policy |
Question 18 |
What is dual pricing?
Wholesale price & retail price | |
Pricing by agents and pricing by retailers | |
Price fixed by the government and price fixed in the open market | |
None of these |
Question 19 |
The father of Economics is
J.M.Keynes | |
Adam Smith | |
Malthus | |
David Ricardo |
Question 20 |
Which of the following statement is not true?
Commercial banks keep some cash with the Central Bank | |
Inflation results in increase in cost of living | |
Reserve Bank is the Central Bank of India | |
Reserve Bank gives loan to any member of the public |
Question 21 |
The market price of the commodity is determined
by demand | |
by supply | |
by Government officials | |
by the equilibrium of demand and supply |
Question 22 |
The paper money is issued in India by
The Commercial Bank | |
State Bank of India | |
Government of India | |
Reserve Bank of India |
Question 23 |
The Hundi is a kind of
written promise to pay | |
an order to pay | |
an Indian form of bill | |
a crossed cheque |
Question 24 |
The bank rate is fixed by the
Government | |
Commercial Bank | |
Central Bank | |
Stock Exchanges |
Question 25 |
Budget is the
proposal of taxation | |
annual financial statement of income | |
money bill | |
annual financial statement of income and expenditure |
Question 26 |
How many Commercial banks have been so far nationalized since 1969?
20 | |
14 | |
12 | |
27 |
Question 26 Explanation:
Note:19 in 2010
Question 27 |
What is the percentage contribution of industry to employment?
10 | |
40 | |
60 | |
20 |
Question 28 |
Which of the following is not a country practicing mixed economy?
U.K | |
Italy | |
India | |
U.S.A. |
Question 29 |
The largest state in population in India’s
Madhya Pradesh | |
Bihar | |
West Bengal | |
Uttar Pradesh |
Question 30 |
India is
an advanced country | |
a backward country | |
an underdeveloped country | |
a developing country |
Question 31 |
Consider the following statements:
- Indian agriculture is a gamble in the monsoon
- Agriculturists in India follow old technology
II is true | |
II id false | |
Both are true | |
Both are true |
Question 32 |
Which of the following features of Indian Economy cause problems in the measurement of National income?
- Illiteracy II. Growth of public sector
I and II | |
I,II and IV | |
I,II and III | |
II,III and IV |
Question 33 |
The estimated amount of black money in 1996 was
Rs.3,40,000 Cr | |
Rs. 4,00,00Cr | |
Rs.5,50,000 Cr | |
Rs. 3,00,000 Cr |
Question 34 |
Which one of the following is not an employment programme?
National Rural Development Programme | |
Integrated Rural Development Programme | |
Jawahar Rozgr Yojana | |
Training of Rural Youth for Self-employment |
Question 35 |
In Tamil Nadu, a large quantity of water is used by
Agricultural Sector | |
Industrial Sector | |
Households | |
Mining Sector |
Question 36 |
Indian Agriculture is having the following features
- Disguised unemployment II. High productivity
I and II only | |
II and III only | |
II and IV only | |
I and IV only |
Question 37 |
Which Bank serves as a Banker’s Bank?
State Bank of India | |
Reserve Bank of India | |
Union Bank of India | |
Central Bank of India |
Question 38 |
Which one of the following is not an effective solution to solve the problem of poverty in India?
Control of population growth | |
Increase the production of necessities of life | |
Equitable distribution of incomes | |
Increasing the salaries of the workers |
Question 39 |
Inflation means
very high prices | |
rising prices | |
falling prices | |
very low prices |
Question 40 |
Match List I with list II and select the correct answer using the codes given below:
List I List II
- Rajmannar Committee 1. Industrial Licensing
- Dutt Committee 2. Direct Taxes
- Wanchoo Committee 3. Central and State fiscal relation
- Chakravarthy Committee 4. Monetary System
3 1 2 4 | |
2 3 1 4 | |
1 4 3 2 | |
4 2 1 3 |
Question 41 |
The sickness of some of the industries in India is mainly due to
Shortage of raw material | |
labour problem | |
transport problem | |
mis-management |
Question 42 |
Disguised unemployment in India is mainly related to
- Agricultural sector II. Rural area
I and II are correct | |
II and IV are correct | |
III and IV are correct | |
I and III are correct |
Question 43 |
Which term is not related to International Trade?
O. E. C. D | |
O. P. E. C | |
G. D. P | |
E. E. C |
Question 44 |
Which of the following are priority objectives of the Eighth plan?
- Universalisation of elementary education
- Growth and diversification of Agriculture
- Containment of population growth
- Gradual privatization of public sector undertakings
I, II and IV are correct | |
II,III and IV are correct | |
I, III and IV are correct | |
I, II and III are correct |
Question 45 |
The number of countries participating in GATT negotiations is
50 | |
70 | |
90 | |
110 |
Question 46 |
Consider the following statements:
- Fifty years of planning has enabled India to become self sufficient in food
- India now has entered the Ninth Plan period
I alone is correct | |
I and II are correct | |
II alone is correct | |
I and II are wrong |
Question 47 |
In India largest number of workers are employed in
Iron and Steel Industry | |
Cotton Textile Industry | |
Jute Mill Industry | |
Sugar Industry |
Question 48 |
Which of the following shows that India is Over populated?
India is the second most popular country next to China | |
The growth rate is highest in the world | |
There is a poverty, unemployment and pressure of land high birth rate | |
Small size land holdings |
Question 49 |
Life Insurance Corporation of India is an example of
Development Bank | |
Commercial Bank | |
Investment Bank | |
Co-operative Bank |
Question 50 |
The reason for unemployment in rural areas of India is
poor industrial development | |
mechanization of agriculture | |
heavy density of population and halfhearted implementation of agrarian reforms | |
high illiteracy rate |
Question 51 |
When was the First Five Year Plan launched in India?
1950 | |
1954 | |
1947 | |
1955 |
Question 52 |
Population explosion in a country takes place when it has
high birth rate and high death rate | |
high birth rate and low death rate | |
low birth rate and high death rate | |
low birth rate and low death rate |
Question 53 |
Very important hurdle in the way of economic development of India is
poverty | |
low capital formation | |
low saving rate | |
inefficient workers |
Question 54 |
In India, professional tax is levied by
Union Government | |
State Government | |
Local Bodies | |
none of these |
Question 55 |
Which industry provides jobs to the maximum number of people?
Iron and Steel | |
Cotton Textiles | |
Sugar Industry | |
Tea Processing |
Question 56 |
Dumping refers to
selling at low prices | |
Selling at low prices in foreign markets | |
selling at high prices | |
none of these |
Question 57 |
The aim of starting Industrial estates is
to attract foreign investors | |
to help small entrepreneurs | |
to promote large scale industries | |
to help sick industrial units |
Question 58 |
A budget is
an estimate of the expenditure and receipts of Government for one year | |
a record of the past performance of Government | |
a forcast of Government’s future financial targets | |
a statements about the performances of public enterprises |
Question 59 |
Amartya Sen was awarded Nobel prize in
Chemistry | |
Economics | |
Medicine | |
Physics |
Question 60 |
Income Tax Rebate for senior citizens in the budget of 1994-95 qualifies people who are
58 and above | |
60 and above | |
65 and above | |
70 and above |
Question 61 |
Trade Related Intellectual property Rights (TRIP) is a part of
Shimla Agreement | |
Rights guaranteed in the constitution of India | |
SAARC agenda | |
GATT agenda |
Question 62 |
Minimum Needs Programme was introduced during the
Sixth Plan | |
Eighth plan | |
Third Plan | |
No such programme was introduced |
Question 63 |
The Regulated Market aims at getting the farmers
loans | |
more consumers | |
fair prices | |
free lands |
Question 64 |
‘GATT’ has been replaced by
ILO | |
ITA | |
WOTT | |
WTO |
Question 65 |
‘Land to the tiller’ involves
abolition of Zamindari System | |
ceiling of land holding | |
tenancy reforms | |
all of these |
Question 66 |
Which one is not the feature of agricultural labourers?
They are unorganized | |
They are migratory in character | |
They are skilled and highly productive | |
They are poor |
Question 67 |
Which one does not accept deposit from public?
State Bank of India | |
Indian Bank | |
Indian Overseas Bank | |
Reserve Bank of India |
Question 68 |
Due to which of the following problems the currency of a nation meets strong pressure?
Capital flight | |
People shift to gold | |
Savings in banks discouraged | |
All of these |
Question 69 |
Among these which one is the negative effect of Green Revolution?
Area of land attitude cultivation increased | |
A change in the attitude of the farmers | |
Depletion of forest and pasture ands | |
Generate market surplus |
Question 70 |
Which one represents joint supply?
Birds and Cages | |
Radio Sets and TV sets | |
Wool and Mutton | |
Guitars and Violins |
Question 71 |
What is the cure for inflation?
Decrease money supply | |
Increase the bank rate | |
Devaluation of currency | |
All of these |
Question 72 |
Windfall profit occurs because of
Skilled management | |
Monopoly element | |
Unexpected circumstances | |
Efficient production |
Question 73 |
The dominant occupation of Indians is
Trade | |
Industry | |
Transport | |
Agriculture |
Question 74 |
Mother Industry is the name given to
iron and steel industry | |
sugar industry | |
cotton industry | |
cement industry |
Question 75 |
Inflation is controlled through monetary policy by
RBI | |
Bank of India | |
Central Bank | |
none of these |
Question 76 |
AGMARK is
a Co-operative for egg productions | |
a quality guarantee stamp for commodities like edible oils, ghee, honey etc., | |
a regulated agricultural market | |
farmer’s co-operative |
Question 77 |
Transporation creates
time utility | |
place utility | |
both time and place utility | |
none of these |
Question 78 |
Which is the largest single source of central Government’s earning from tax revenue?
Excise Duty | |
Customs Duty | |
Wealth Duty | |
Income Tax |
Question 79 |
Consider the following statements:
- Assertion(A): Cotton and Textile industry in Tamil Nadu is in crisis
- Reason(R): Yield of cotton is very low in Tamil Nadu.
Both (A) and (R) are false | |
Both (A) and (R) are true | |
(A)is true, but (R) is false | |
(A) is false, but (R) is true |
Question 80 |
“Crop Insurance Scheme” is beneficial to the farmers, because
- under this scheme farmers are protected against risks of crop failures on payment of certain premium
- under this scheme loans are given to the poor farmers
- under this scheme farmers are assured of a fixed income and they are encouraged to increase production
- under this scheme the rate of interest is low.
I and III are correct | |
II and III are correct | |
I, II and III are correct | |
I and IV are correct |
Question 81 |
Match List I with List II correctly and select your answer using the codes given below:
List I List II
- Green Revolution 1. Operation flood
- Milk Production 2. Indian agriculture
- Land reforms 3. Samathuvapuram
- Casteless Society 4. Ceiling on land holdings
1 3 4 2 | |
2 1 4 3 | |
4 3 2 1 | |
2 1 3 4 |
Question 82 |
Expands PDS
Private Duty System | |
Public Distribution System | |
Public Demand Society | |
Public Dentist Society |
Question 83 |
NABARD’S primary role is
to provide term loans to State Co-operative banks | |
to assist state Governments for share capital contributions | |
to act as a refinance institution | |
all of these |
Question 84 |
Wanchoo Committee is associated with the following:
Direct taxation | |
Indirect taxation | |
Import duties | |
Export duties |
Question 85 |
Disguised unemployment refers to
persons with no jobs | |
more persons employed for a job which a few can accomplish | |
unemployment among women | |
unemployment among educated |
Question 86 |
In 1991 India devalued the rupee by
15.5% | |
18% | |
22% | |
33% |
Question 86 Explanation:
Note: In 1991 two times devalued 1st time 9%, 2nd time -11%
Question 87 |
Debentures are issued to raise
seasonal working capital | |
cyclical working capital | |
normal working capital | |
none of these |
Question 88 |
Who acts as the chairman of the National Development Council?
Minister of planning | |
Secretary of the planning Commission | |
Minister of state for planning | |
Prime Minister |
Question 89 |
The Industrial Credit and Investment Corporation of India (ICICI) was established to provide financial assistance to industrial units in
Private Sector | |
Public Sector | |
Joint sector | |
Small scale sector |
Question 90 |
The object of the fiscal policy is
economic development | |
distribute justice | |
price stability | |
all of these |
Question 91 |
Which of the following is the largest (in terms of profit) public sector organization in India?
Steel Authority of India | |
Bharat Heavy Electricals | |
Bharat Petroleum | |
Oil and Natural Gas Commission |
Question 92 |
The highly labour intensive industry in India is
Iron and Steel Plants | |
Textile Mills | |
Construction | |
Handicrafts |
Question 93 |
The Green Revolution has led to
increase in production | |
increase in regional inequalities | |
maximum benefit to the wheat crop | |
all of these |
Question 94 |
SIDCO is concerned with
Steel production | |
Small Scale Industries | |
Large Scale industries | |
none of these |
Question 95 |
What is a financial year?
March to March | |
April to April | |
May to May | |
January to January |
Question 96 |
AGMARK refers to
egg production | |
regulated agricultural market | |
Co-operative bank | |
quality guarantee stamp for agricultural commodities |
Question 97 |
NABARD is a
Bank | |
Bureau | |
Board | |
Department |
Question 98 |
A person who has an account in a bank is considered to be
a Debtor | |
a Customer | |
a Creditor | |
an Agent |
Question 99 |
Economic planning is necessary for
rapid increase in national income | |
rapid economic growth | |
establishing socialistic society | |
all of these |
Question 100 |
What is meant by Industrial sickness?
Lack of funds for survival | |
More unemployment | |
High cost of production | |
More capital required |
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