MCQs
Total Questions : 650
| Page 5 of 65 pages
Answer: Option A. -> Study of sales of TISCO
Answer: (a)
Microeconomics is a branch of economics that studies the behaviour of individuals and firms in making decisions regarding the allocation of limited resources. Typically, it applies to markets where goods or services are bought and sold.
This is in contrast to macroeconomics, which involves the “sum total of economic activity, dealing with the issues of growth, inflation, and unemployment.”
So the study of sales of TISCO will come under microeconomics.
Answer: (a)
Microeconomics is a branch of economics that studies the behaviour of individuals and firms in making decisions regarding the allocation of limited resources. Typically, it applies to markets where goods or services are bought and sold.
This is in contrast to macroeconomics, which involves the “sum total of economic activity, dealing with the issues of growth, inflation, and unemployment.”
So the study of sales of TISCO will come under microeconomics.
Answer: Option B. -> grant to states
Answer: (b)
All expenditures that promote economic growth and development are termed development expenditure.
Expenditure on infrastructure development, public enterprises or the development of agriculture increase productive capacity in the economy and bring income to the government.
Expenditures in the nature of consumption such as Defence, interest payments, expenditure on law and order, public administration, do not create any productive asset which can bring income or returns to the government are non-development expenditures.
Answer: (b)
All expenditures that promote economic growth and development are termed development expenditure.
Expenditure on infrastructure development, public enterprises or the development of agriculture increase productive capacity in the economy and bring income to the government.
Expenditures in the nature of consumption such as Defence, interest payments, expenditure on law and order, public administration, do not create any productive asset which can bring income or returns to the government are non-development expenditures.
Answer: Option C. -> Rajiv Awas Yojana
Answer: (c)
Rajiv Awas Yojana (RAY) envisages a “Slum Free India" with inclusive and equitable cities in which every citizen has access to basic civic infrastructure and social amenities and decent shelter.
It aims to make India slum-free by 2022 by providing people with shelter or housing, free of cost. It was introduced by the Union Ministry of Housing and Alleviation.
Answer: (c)
Rajiv Awas Yojana (RAY) envisages a “Slum Free India" with inclusive and equitable cities in which every citizen has access to basic civic infrastructure and social amenities and decent shelter.
It aims to make India slum-free by 2022 by providing people with shelter or housing, free of cost. It was introduced by the Union Ministry of Housing and Alleviation.
Answer: Option D. -> output method
Answer: (d)
For calculating national income, the Indian economy is divided into 14 broad sectors, which are then grouped into three main categories A, B and C.
In India, agriculture, forestry and logging, fishing, mining and quarrying, registered manufacturing and construction units are included in category A. The output method is applied to category A.
The value added by this category is found by subtracting the value of raw materials and other inputs from the aggregate of commodity-wise output.
Answer: (d)
For calculating national income, the Indian economy is divided into 14 broad sectors, which are then grouped into three main categories A, B and C.
In India, agriculture, forestry and logging, fishing, mining and quarrying, registered manufacturing and construction units are included in category A. The output method is applied to category A.
The value added by this category is found by subtracting the value of raw materials and other inputs from the aggregate of commodity-wise output.
Question 45. In the context of the Indian economy, consider the following statements
Which of the statements given above is/are correct?
- The growth rate of GDP has steadily increased in the last five years.
- The growth rate in per capita income has steadily increased in the last five years.
- The growth rate of GDP has steadily increased.
Which of the statements given above is/are correct?
Answer: Option D. -> None of these
Answer: (d)
Answer: (d)
Answer: Option B. -> It stands for agricultural marketing
Answer: (b)
AGMARK is a certification mark employed on agricultural products in India, assuring that they conform to a set of standards approved by the Directorate of Marketing and Inspection, an agency of the Government of India.
The present AGMARK standards cover quality guidelines for 205 different commodities spanning a variety of Pulses, Cereals, Essential Oils, Vegetable Oils, Fruits & Vegetables, and semi-processed products.
Answer: (b)
AGMARK is a certification mark employed on agricultural products in India, assuring that they conform to a set of standards approved by the Directorate of Marketing and Inspection, an agency of the Government of India.
The present AGMARK standards cover quality guidelines for 205 different commodities spanning a variety of Pulses, Cereals, Essential Oils, Vegetable Oils, Fruits & Vegetables, and semi-processed products.
Answer: Option E. -> None of These
Answer: (e)
On 29 January 2010, the Central Statistical Organisation (CSO) introduced the new series of national accounts statistics with the base year 2004-05, in place of the previous series with the base year 1999- 2000.
The new series on National Accounts Statistics has been introduced after a comprehensive review of both the database and the methodology employed in the estimation of various aggregates.
Answer: (e)
On 29 January 2010, the Central Statistical Organisation (CSO) introduced the new series of national accounts statistics with the base year 2004-05, in place of the previous series with the base year 1999- 2000.
The new series on National Accounts Statistics has been introduced after a comprehensive review of both the database and the methodology employed in the estimation of various aggregates.
Answer: Option D. -> substantial changes in industrial licensing policy
Answer: (d)
Economic liberalisation in India started with substantial changes in industrial licensing policy. The LPG Model (Liberalisation, Privatisation & Globalisation) was introduced by Dr Manmohan Singh in 1991 as India was facing problems of depleting reserves.
Under liberalization, the industrial licensing policy was changed and under the new licensing policy the private players can set up their industrial units without obtaining a license from the government and thus private investment in India increased drastically.
Answer: (d)
Economic liberalisation in India started with substantial changes in industrial licensing policy. The LPG Model (Liberalisation, Privatisation & Globalisation) was introduced by Dr Manmohan Singh in 1991 as India was facing problems of depleting reserves.
Under liberalization, the industrial licensing policy was changed and under the new licensing policy the private players can set up their industrial units without obtaining a license from the government and thus private investment in India increased drastically.
Answer: Option D. -> Simon Kuznet
Answer: (d)
Answer: (d)
Answer: Option A. -> a labour-surplus economy
Answer: (a)India is a labour-surplus economy because in India there is disguised unemployment along with under-employment which means that qualified, skilled workforce willing to work is available but there are not enough employment opportunities.
Answer: (a)India is a labour-surplus economy because in India there is disguised unemployment along with under-employment which means that qualified, skilled workforce willing to work is available but there are not enough employment opportunities.
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