MCQs
Total Questions : 150
| Page 5 of 15 pages
Answer: Option A. -> Sustainable development
Answer: (a)
Answer: (a)
Answer: Option B. -> imperative planning
Answer: (b)
Imperative planning is not a feature of the economic planning of India. In the case of imperative planning economic activities belong to the public sector.
In this type of planning economic decisions are made through a central planning authority instead of a market system. There is the absence of institutions of private property, competition and profit motive of industrialists.
Answer: (b)
Imperative planning is not a feature of the economic planning of India. In the case of imperative planning economic activities belong to the public sector.
In this type of planning economic decisions are made through a central planning authority instead of a market system. There is the absence of institutions of private property, competition and profit motive of industrialists.
Answer: Option D. -> Sex Ratio
Answer: (d)
Answer: (d)
Answer: Option B. -> Social Exclusion
Answer: (b)
Answer: (b)
Answer: Option C. -> Planning of imperative nature
Answer: (c)
Indicative planning is peculiar to the mixed economy. In a mixed economy, the public and private sectors work together. In indicative planning, the private sector is neither rigidly controlled nor directed to fulfil the targets and priorities of the plan.
The state provides all types of facilities to the private sector but does not direct it, rather indicates the areas in which it can help in implementing the plan.
Under imperative planning, all economic activities and resources of the economy operate under the direction of the state. There is complete control over the factors of production by the state. There is no consumer’s sovereignty in such planning.
Answer: (c)
Indicative planning is peculiar to the mixed economy. In a mixed economy, the public and private sectors work together. In indicative planning, the private sector is neither rigidly controlled nor directed to fulfil the targets and priorities of the plan.
The state provides all types of facilities to the private sector but does not direct it, rather indicates the areas in which it can help in implementing the plan.
Under imperative planning, all economic activities and resources of the economy operate under the direction of the state. There is complete control over the factors of production by the state. There is no consumer’s sovereignty in such planning.
Question 46. Consider the following statements in regard to the GDP of a country :
Which of the statements given above is/are correct?
- Real GDP is calculated by keeping inflation into consideration.
- Nominal GDP is calculated on the basis of the prices of goods and services produced in the current year.
Which of the statements given above is/are correct?
Answer: Option C. -> Both 1 and 2
Answer: (c)
Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e., inflation or deflation).
Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region.
Answer: (c)
Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e., inflation or deflation).
Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region.
Answer: Option B. -> Dadabhai Naoroji
Answer: (b)
Dadabhai Naoroji had estimated national income in India first. National income estimate before independence was prepared by Dadabhai Naoroji in 1876.
He estimated national income by estimating the value of agricultural production and then adding some percentage of non– agricultural production. This method was non–scientific.
VKRV Rao - The first person to adopt a scientific procedure postmating the national income was Dr VKRV Rao in 1931.
R.C. Dutt - He was an Indian civil servant, economics, historian, writer and translator of Ramayan & Mahabharat. D.R. Gadgil - A social scientist and the first critic of Indian planning.
Answer: (b)
Dadabhai Naoroji had estimated national income in India first. National income estimate before independence was prepared by Dadabhai Naoroji in 1876.
He estimated national income by estimating the value of agricultural production and then adding some percentage of non– agricultural production. This method was non–scientific.
VKRV Rao - The first person to adopt a scientific procedure postmating the national income was Dr VKRV Rao in 1931.
R.C. Dutt - He was an Indian civil servant, economics, historian, writer and translator of Ramayan & Mahabharat. D.R. Gadgil - A social scientist and the first critic of Indian planning.
Question 48. Consider the following statements. Human capital formation as a concept is better explained in terms of a process which enables
- individuals of a country to accumulate more capital.
- increasing the knowledge, skill levels and capacities of the people of the country.
- accumulation of tangible wealth.
- accumulation of intangible wealth.
Answer: Option A. -> 2 and 4
Answer: (a)
Answer: (a)
Answer: Option A. -> National Income
Answer: (a)
Answer: (a)
Answer: Option C. -> Concurrent list
Answer: (c)The Concurrent List or List-III is a list of 52 items given in Part XI of the Constitution of India, concerned with relations between the Union and States. Economic planning is specified in Concurrent list.
Answer: (c)The Concurrent List or List-III is a list of 52 items given in Part XI of the Constitution of India, concerned with relations between the Union and States. Economic planning is specified in Concurrent list.
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