INDIAN ECONOMY MCQ

INDIAN ECONOMY MCQ

1. Which one of the following years is regarded as the base year for construction of the Wholesale Price Index in India?
(A) 2011-12 ✔
(B) 2005-06
(C) 1990-91
(D) 2000-01

2. Liberalization of Indian Economy started from
(A) 1995
(B) 1988
(C) 1991 ✔
(D) 1985

3. The apex body which operates the micro-finance scheme by promoting self-help groups of individuals from a homogenous class through banks or non-government organizations is
(A) State Bank of India
(B) National Bank for Agriculture and Rural Development✔
(C) Regional Rural Bank
(D) Grameen Bank

4. What is capital?
(A) Capital is produced means of production ✔
(B) None of the above
(C) Money is capital
(D) Machinery and building capital

5. Bank rate is an instrument of
(A) Reducing Deficit Financing
(B) Increasing Tax Revenue
(C) Credit Control ✔
(D) Reducing Fiscal Deficit

6. National Rural Employment Guarantee Scheme gives the right to employment for
(A) 100 days a year ✔
(B) 30 days a year
(C) 70 days a year
(D) 200 days a year

7. Point out the false statement, India entered into financial structural reform by
(A) Opening of the domestic market to the world trade
(B) devaluation of exchange rate
(C) increasing import restriction ✔
(D) import liberalization

8. Deficit financing of a plan normally has 
(A) A stabilizing effect on the economy
(B) A neutral effect on the economy
(C) An inflationary effect on the economy ✔
(D) A deflationary effect on the economy

9. The Universal Declaration of Human Rights was adopted on
(A) August 14, 1947
(B) October 20, 1962
(C) December 10, 1948 ✔
(D) January 26, 1950

10. In India, the Repo rate is announced by
(A) the Reserve Bank of India ✔
(B) the President of India
(C) the Ministry of Finance, Government of India
(D) the Prime Minister of India

11. Name the programme of poverty alleviation launched the Government of India which was immensely benefited the rural poor.
(A) National Rural Employment Guarantee Programme. ✔
(B) Food for Work programme
(C) Jawhar Rojgar Yojona
(D) Indira Gandhi Rural Housing Programme

12. The objective of TRYSEM is
(A) Training for Self-employment of Woman
(B) Prepare child development programme
(C) Training of Rural Youth for Self-employment  ✔
(D) Self-employment of Urban Youth

13. VAT is imposed on
(A) The value added at each stage of production of a commodity ✔
(B) Aggregate value in terms of cost of production of the producer of a commodity
(C) The final consumer of a commodity
(D) Total value added at the final stage production of a commodity

14. Land Reforms refers to the government's efforts at
(A) regulating land prices
(B) regulating land use
(C) abolishing ownership rights of non-cultivating landlords ✔
(D) making the ownership rights of landlords more secure

15. Peasant farming means - - - - - - - - -
(A) Cultivation is done by hired labor
(B) None of the above
(C) The tenant cultivates the land ✔
(D) The cultivator is the landowner

16. Marginal workers are people with
(A) only 183 days of work in a census year
(B) More than 183 days of work in a census year
(C) Les than 183 days of work in a census year  ✔
(D) None of the above

17. Tertiary sector activities include
(A) Construction activities
(B) Infrastructure services ✔
(C) Cottage industries
(D) Mining activities

18. What is meant by TRIPS?
(A) Trade Related Intellectual Property Rights ✔
(B) Proportionate Tariff rule
(C) Laws relating to a tax rebate
(D) Trade-related laws

19. Existence of huge black money creates
(A) increase in the inequality of income
(B) high living standard for all
(C) decrease in the quality of output ✔
(D) Both B and C

20. Industrial credit is available from
(A) SFCs
(B) IFCI ✔
(C) IDBI
(D) All of the above

21. AGMARK is related to
(A) agricultural goods ✔
(B) agricultural finance
(C) industry
(D) the Indian Railways

22. The index of poverty is prepared on the basis of
(A) Subsistence level of consumption expenditure  ✔
(B) Employment situation
(C) Assets distribution
(D) Income distribution

23. In terms of Human Development Index, India falls under the following category
(A) Low
(B) Very Low
(C) High
(D) Medium ✔

24. In which of the following plans did India experience to successive wars?
(A) Fourth Five Year Plan
(B) Fifth Five Year Plan
(C) Second Five Year Plan
(D) Third Five Year Plan ✔

25. Which of the following factors is most important for the future industrial development of India?
(A) Huge investment is to be undertaken by the investor class
(B) None of the above
(C) Maintenance of industrial peace
(D) Creation of adequate infrastructural facilities ✔

26. In the financing of the Indian plans, indirect taxes have played
(A) A less important role compared to that of direct taxes
(B) A less important role compared to that of deficit financing
(C) A very important role ✔
(D) A negligible role

27. In the second industrial policy of 1956, industries were divided into
(A) Four classes
(B) six classes
(C) Two classes
(D) Three classes ✔

28. The Mahalanobis strategy of Indian Planning gave emphasis to the growth of
(A) Heavy Capital Goods Industrial sector ✔
(B) Small Scale Village Industrial sector
(C) Agricultural sector
(D) Services sector

29. According to Purchasing Power Parity (PPP), India is
(A) Fourth largest economy ✔
(B) Seventh largest economy
(C) Tenth largest economy
(D) Third largest economy

30. Which one, out of the following, is not the objective of Indian Planning?
(A) Self-reliance
(B) Productive employment generation
(C) Industrial growth
(D) Population growth ✔