MCQs
Total Questions : 150
| Page 1 of 15 pages
Answer: Option B. -> Only 1
Answer: (b)
Negative Inflation is a decrease in price level and economic growth is defined as GDP rise. A decrease in inflation means the prices have fallen.
So, there is an increase in purchasing power of money. It is increased consumption therefore GDP increases.
Answer: (b)
Negative Inflation is a decrease in price level and economic growth is defined as GDP rise. A decrease in inflation means the prices have fallen.
So, there is an increase in purchasing power of money. It is increased consumption therefore GDP increases.
Question 2. Planning was considered a prerequisite :
- For balanced socio-economic development
- For extending the benefits of development in an even manner.
- For focussing on removal of regional disparities
- For maximizing the utilization of available resources
Answer: Option D. -> All the above
Answer: (d)Planning was considered for balanced socio-economic development to focus on removal of regional disparities and maximizing the utilization of available resources.
Answer: (d)Planning was considered for balanced socio-economic development to focus on removal of regional disparities and maximizing the utilization of available resources.
Answer: Option D. -> GNP minus depreciation allowances
Answer: (d)
The Net National Product (NNP) of a country is GNP minus depreciation allowances. NNP is the actual addition to the year’s wealth.
While calculating GNP, we ignore depreciation of assets but in reality, the process of production uses up the fixed assets or there is some wear and tear or fixed assets by process of depreciation.
In order to arrive at NNP, we deduct depreciation from GNP.
Answer: (d)
The Net National Product (NNP) of a country is GNP minus depreciation allowances. NNP is the actual addition to the year’s wealth.
While calculating GNP, we ignore depreciation of assets but in reality, the process of production uses up the fixed assets or there is some wear and tear or fixed assets by process of depreciation.
In order to arrive at NNP, we deduct depreciation from GNP.
Answer: Option C. -> Money value of final goods and services produced
Answer: (c)
Answer: (c)
Answer: Option C. -> Russia
Answer: (c)The concept of Economic planning in India is derived from Russia.
Answer: (c)The concept of Economic planning in India is derived from Russia.
Answer: Option C. -> Dadabhai Naoroji
Answer: (c)
Answer: (c)
Answer: Option D. -> Per capita real income
Answer: (d)
The most appropriate measure of a country’s economic growth is its per capita real income. Per capita income is average income, a measure of the wealth of the population of a nation.
It is used to measure a country’s standard of living thus a better indicator of economic growth. Economic growth is the increase in the inflation-adjusted market value of the Goods and services produced by the economy over time.
Answer: (d)
The most appropriate measure of a country’s economic growth is its per capita real income. Per capita income is average income, a measure of the wealth of the population of a nation.
It is used to measure a country’s standard of living thus a better indicator of economic growth. Economic growth is the increase in the inflation-adjusted market value of the Goods and services produced by the economy over time.
Answer: Option C. -> Per Capita Real Income
Answer: (c)
Answer: (c)
Question 9. Consider the following statements regarding Indian planning.
Which of the statements given above is/are correct?
- The second five year plan emphasized on the establishment of heavy industries.
- The third five year plan aimed to achieve self-sufficiency in foodgrains and increase agricultural production to meet the requirements of industry and exports.
Which of the statements given above is/are correct?
Answer: Option C. -> Both 1 and 2
Answer: (c)
The Second Five Year Plan heralded in a true sense the Socialist Project of the then Prime Minister, Jawaharlal Nehru. The economic policies of Nehru were heavily influenced by the erstwhile Union of Soviet Socialist Republics (USSR) which had followed the path of speedy industrialisation to expand the manufacturing base of its economy.
The Second Five year Plan focused mainly on heavy industry as against the First Plan which was essentially an agricultural plan. This was done to boost domestic production and manufacturing of goods. The third plan aimed to achieve self-sufficiency in foodgrains and to increase agricultural production to meet the requirements of industry and exports.
Answer: (c)
The Second Five Year Plan heralded in a true sense the Socialist Project of the then Prime Minister, Jawaharlal Nehru. The economic policies of Nehru were heavily influenced by the erstwhile Union of Soviet Socialist Republics (USSR) which had followed the path of speedy industrialisation to expand the manufacturing base of its economy.
The Second Five year Plan focused mainly on heavy industry as against the First Plan which was essentially an agricultural plan. This was done to boost domestic production and manufacturing of goods. The third plan aimed to achieve self-sufficiency in foodgrains and to increase agricultural production to meet the requirements of industry and exports.
Answer: Option C. -> 2, 3 and 1
Answer: (c)
With low economic development, generally, the economy has a high birth rate and high death rate with less awareness and improper healthcare.
As an economy develops, the birth rate remains high but the death rate declines due to improved healthcare. However, with the highest economic development, birth rate and death rate lowers because of max awareness and excellent healthcare.
Answer: (c)
With low economic development, generally, the economy has a high birth rate and high death rate with less awareness and improper healthcare.
As an economy develops, the birth rate remains high but the death rate declines due to improved healthcare. However, with the highest economic development, birth rate and death rate lowers because of max awareness and excellent healthcare.
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