MCQs
Total Questions : 150
| Page 8 of 15 pages
Question 71. Consider the following statements:
Which of the statements given above is/are correct?
- Minimum Wages Act is only applicable to the scheduled employments of the centres and the states.
- Minimum Wages Act has allowed discrimination between male and female workers or different minimum wages for them.
Which of the statements given above is/are correct?
Answer: Option C. -> 1 only
Answer: (c)
The Minimum Wages Act, 1948 is Indian legislation enacted by the Parliament of India for statutory fixing of minimum wages to be paid to skilled and unskilled labours of centre and state.
Minimum Wages Act does not allow discrimination between male and female workers.
Answer: (c)
The Minimum Wages Act, 1948 is Indian legislation enacted by the Parliament of India for statutory fixing of minimum wages to be paid to skilled and unskilled labours of centre and state.
Minimum Wages Act does not allow discrimination between male and female workers.
Answer: Option A. -> measure the inflation in a country.
Answer: (a)
The GDP deflator is an economic metric that accounts for inflation by converting output measured at current prices into constant-dollar GDP.
The GDP deflator shows how much a change in the base year’s GDP relies upon changes in the price level.
Answer: (a)
The GDP deflator is an economic metric that accounts for inflation by converting output measured at current prices into constant-dollar GDP.
The GDP deflator shows how much a change in the base year’s GDP relies upon changes in the price level.
Answer: Option D. -> 7% - 7.5%
Answer: (d)
Answer: (d)
Answer: Option D. -> sale of land
Answer: (d)National Income ignores sale of land.
Answer: (d)National Income ignores sale of land.
Question 75. Consider the following statements:
- According to the data studied by planning commission in 2011–12, 21.9% of the population of India falls under the poverty line.
- The incidence of poverty is measured by the poverty ratio, which is the ratio of number of poor to the total population expressed as percentage.
Answer: Option A. -> 1 and 2
Answer: (a)Both the statements are correct.
Answer: (a)Both the statements are correct.
Answer: Option A. -> Life expectancy, educational attainment and per capita income
Answer: (a)
Answer: (a)
Answer: Option C. -> Both 1 and 2
Answer: (c)
Agriculture and Allied sectors contribute less than 20% around 17% of the Gross Domestic Product of India.
Around 60% of the net sown agricultural area of India is dependent on rainfall.
Answer: (c)
Agriculture and Allied sectors contribute less than 20% around 17% of the Gross Domestic Product of India.
Around 60% of the net sown agricultural area of India is dependent on rainfall.
Question 78. Consider the following statements:
Which of the statements given above is/are correct about the Indicative planning?
- The state sets broad parameters and goals for the economy.
- The targets to be achieved are broadly set by the state.
- The plan is made for the specific time period of about 15 years.
Which of the statements given above is/are correct about the Indicative planning?
Answer: Option A. -> 1 and 2
Answer: (a)
Indicative planning is a form of economic planning implemented by a state in an effort to solve the problem of imperfect information in the market and mixed economies in order to increase economic performance.
Regarding indicative planning, the state sets broad parameters and goals for the economy and the targets to be achieved are broadly set by the state.
Answer: (a)
Indicative planning is a form of economic planning implemented by a state in an effort to solve the problem of imperfect information in the market and mixed economies in order to increase economic performance.
Regarding indicative planning, the state sets broad parameters and goals for the economy and the targets to be achieved are broadly set by the state.
Question 79. Consider the following statements relating to estimation of National Income.
- Foreigners working in Indian Embassies are normal residents of India.
- Foreigners working in the office of WHO, World Bank, UNO etc, located in India are not normal residents of India.
- Indians working in foreign embassies in India are not normal residents of India.
Answer: Option A. -> 1 and 3
Answer: (a)Statement 2 is correct as it comes under the perview of nonresident/International resident.
Answer: (a)Statement 2 is correct as it comes under the perview of nonresident/International resident.
Answer: Option A. -> signs of economic recovery during an economy downturn
Answer: (a)Green shoots is the first signs of an improvement in an economy that is performing badly. It was first used in this sense by Norman Lamont, the then Chancellor of the Exchequer of the United Kingdom, during the 1991 recession.
Answer: (a)Green shoots is the first signs of an improvement in an economy that is performing badly. It was first used in this sense by Norman Lamont, the then Chancellor of the Exchequer of the United Kingdom, during the 1991 recession.
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