MCQs
Total Questions : 112
| Page 9 of 12 pages
Answer: Option C. -> (i) only
Answer: (c)
GDP is the goods and services produced within the domestic territory of the country, so imported items are not part of GDP.
Investment in the Indian economy means the value of capital goods that the economy will get in a particular period whether by domestic production or through imports. This is because, whatever capital equipment we import, also helps in increasing future production.
So, investment in India is equal to capital goods produced in India plus imported capital goods minus exported capital goods. For a detailed understanding, you can refer to the book on Indian Economy by Vivek Singh.
Answer: (c)
GDP is the goods and services produced within the domestic territory of the country, so imported items are not part of GDP.
Investment in the Indian economy means the value of capital goods that the economy will get in a particular period whether by domestic production or through imports. This is because, whatever capital equipment we import, also helps in increasing future production.
So, investment in India is equal to capital goods produced in India plus imported capital goods minus exported capital goods. For a detailed understanding, you can refer to the book on Indian Economy by Vivek Singh.
Answer: Option A. -> Milk production
Answer: (a)
Answer: (a)
Question 83. Following are the statements associated with RAJFED. Choose the correct answer from the codes given below.
Statement A:
RAJFED is working in the state to make available HYV seeds, fertilizers and pesticides to farmers at fair prices.
Statement B:
RAJFED is working in the state to ensure fair prices to farmers for their crops.
Statement C:
RAJFED is working in the state as an apex development bank for agriculture.
Statement A:
RAJFED is working in the state to make available HYV seeds, fertilizers and pesticides to farmers at fair prices.
Statement B:
RAJFED is working in the state to ensure fair prices to farmers for their crops.
Statement C:
RAJFED is working in the state as an apex development bank for agriculture.
Answer: Option A. -> A and B are correct
Answer: (a)
Answer: (a)
Question 84. Shanta Kumar Committee has submitted its report on restructuring of Food Corporation of India (FCI) to Mr. Modi. Read the following recommendations and find the incorrect ones.
- FCI procurement should focus on the western belt, where farmers get the minimum support price.
- FCI should hand over the procurement of wheat and rice to four states which include Punjab, Haryana, Andhra Pradesh and Chattisgarh.
- Proposed uniform tax of minimum 3% and maximum 4% on wheat and rice and the same to be included in the minimum support price.
Answer: Option B. -> Only 1 and 2
Answer: (b)
Answer: (b)
Answer: Option A. -> 1956
Answer: (a)
Answer: (a)
Answer: Option A. -> M.S. Swaminathan
Answer: (a)
Answer: (a)
Answer: Option B. -> Y.H. Malegam
Answer: (b)
Answer: (b)
Question 88. Which of the following are included as part of India’s GDP?
Select the correct answer using the code given below:
- Activities in Indian embassies and consulates in other countries
- Air India services between two different countries
- Value addition in India’s economic territory
- Economic activities of residents of India in international waters
Select the correct answer using the code given below:
Answer: Option D. -> All of the above
Answer: (d)
GDP is the total final value of goods and services produced within the domestic territory of a country in a specified time period (generally a financial year).
The concept of domestic territory (economic territory) is different from the geographical or political territory of a country.
The domestic territory of a country includes the following:
Political frontiers of the country including its territorial waters.
Ships, and aircrafts operated by the residents of the country between two or more countries, for example, Air India’s services between different countries.
Fishing vessels, oil and natural gas rigs and floating platforms operated by the residents of the country in the international waters or engaged in extraction in areas where the country has exclusive rights of operation.
Embassies, consulates and military establishments of the country located in other countries, for example, the Indian embassy in the U.S.A., Japan etc. It excludes all embassies, consulates and military establishments of other countries and offices of international organisations located in India.
Thus, the domestic territory may be defined as the political frontiers of the country including its territorial waters, ships, aircraft, fishing vessels operated by the residents of the country, embassies and consulates located abroad etc.
Answer: (d)
GDP is the total final value of goods and services produced within the domestic territory of a country in a specified time period (generally a financial year).
The concept of domestic territory (economic territory) is different from the geographical or political territory of a country.
The domestic territory of a country includes the following:
Political frontiers of the country including its territorial waters.
Ships, and aircrafts operated by the residents of the country between two or more countries, for example, Air India’s services between different countries.
Fishing vessels, oil and natural gas rigs and floating platforms operated by the residents of the country in the international waters or engaged in extraction in areas where the country has exclusive rights of operation.
Embassies, consulates and military establishments of the country located in other countries, for example, the Indian embassy in the U.S.A., Japan etc. It excludes all embassies, consulates and military establishments of other countries and offices of international organisations located in India.
Thus, the domestic territory may be defined as the political frontiers of the country including its territorial waters, ships, aircraft, fishing vessels operated by the residents of the country, embassies and consulates located abroad etc.
Question 89. Green Revolution made the country self-sufficient in food production but had some fallouts. Consider the following statements.
Select the correct statements from the codes given below.
- It is successful in the case of wheat, but not in the case of pulses.
- Brought inter-state disparities.
- Help in restoring soil fertility.
- The reduced water table in some states.
Select the correct statements from the codes given below.
Answer: Option B. -> 1, 2 and 4
Answer: (b)
Answer: (b)
Answer: Option B. -> Commercial Banks
Answer: (b)
Answer: (b)
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