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Indian Economy Model Test 14 in English

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Indian Economy Model Test Questions 14 in English With Answer

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Question 1
Identify the one among the following sub divisions that does not from the subject matter of public finance
A
Public expenditure
B
Financial administration
C
Factor price determination
D
Federal finance
Question 2
The reason for rapid increase in population is
A
Birth rate and death rate increases
B
Birth rate and death rate decreases
C
Birth rate increases but death rate decreases
D
Birth rate decreases but death rate increases
Question 3
World Consumer Day is celebrated on
A
March 15
B
March 16
C
March 14
D
March 11
Question 4
___________ is one wherein very little investment is involved.
A
Large scale industry
B
Small scale industry
C
Cottage industry
D
Medium scale industry
Question 5
‘Communism in Health’ means, health must be provided
A
according to life expectancy
B
according to the need and not according to the ability to pay
C
only to the children
D
only to the aged people
Question 6
Among these two Economics one is known as Father of Economics and the other  is known as Father of Modern Economics. Find the correct combination.
A
Adam Smith - David Ricardo
B
J.M. Keynes - T.R. Malthus
C
Adam Smith - Amarthya Sen
D
Adam Smith - J.M. Keynes
Question 7
With the help of the following clues find out the kind of budget:
  1. It is called a surplus budget.
  2. It is also a case of deficit budget
  3. Modern economists argue that it is very useful for achieving economic stability.
  4. The government’s income or tax revenue and expenditure are not equal.
A
Revenue budget
B
Balanced Budget
C
Zero based budget
D
Unbalanced budget
Question 8
Name the new tax system of the central government. Which is to be implemented by the year 2017.
A
VAT
B
MAT
C
GST
D
ST
Question 9
In which year child labour policy was passed?
A
1980
B
1987
C
1985
D
1982
Question 10
National income of a country can be calculated by
A
2 methods
B
3 methods
C
4 members
D
5 members
Question 11
Which one of the following is correctly matched?
A
Somavari - Chittirai pattam
B
Samba - Karthigai Pattam
C
Navarai - Adi Pattam
D
Zaid - Avani Pattam
Question 12
In which sector fishing and mining come under?
A
Private sector
B
Primary Sector
C
Tertiary sector
D
Secondary sector
Question 13
In which year was green revolution introduced?
A
1967
B
1977
C
1987
D
1957
Question 14
Which is not a cause for population explosion?
A
High birth rate
B
Social customs
C
High death rate
D
Poverty
Question 15
Who gave the name “Hindu rate of growth”?
A
Lionel Robbins
B
Raj Krishna
C
Mahalanobis
D
Barbana Wootten
Question 16
Who is the changing agent of the society?
A
Farmer
B
Entrepreneur
C
Weaver
D
Actor
Question 17
The main functions of NITI Aayog does not include
A
monitoring and evaluation of programmes and initiatives
B
developing mechanisms to formulate credible plans at village level
C
disbursal of funds to central ministries and state governments
D
fostering co-operative federalism and designing strategic policy
Question 18
The term demographic dividend refers to
A
decline in population
B
increase in working class
C
decline in birth rate
D
decline in fertility rate
Question 19
The largest share of energy is consumed by
A
Agricultural
B
Rural power supply
C
Urban power supply
D
Industry
Question 20
The right to Education Act 2009, is not related to
A
Primary education
B
quality of education
C
free education
D
higher education
Question 21
The Lorenz cure is a measure of
A
poverty
B
income inequalities
C
inflation rate
D
tax structure
Question 22
The Chairman of the fourteenth Finance Commission in India
A
Dr. C. Rangarajan
B
Shri. Vijay Kelkar
C
Dr. A.M. Kusho
D
Dr. Y.V. Reddy
Question 23
The planning commission of India was changed as NITI AAYOG in ________
A
March , 2015
B
January, 2015
C
December, 2015
D
April, 2015
Question 24
The LPG model of development was introduced in ________by the Finnace Minister __________.
A
1991, Dr. Manmohan Singh
B
1995 , Shri. Pranab Muharji
C
2000, Shri. P. Chidambaram
D
2010, Shri. Yaswant Sinha
Question 25
The human population is currently exhibition
A
logistic growth
B
exponential growth
C
arithmetic growth
D
zero growth
Question 26
In an open economy, GDP is the sum of
A
Consumption, gross investment, government spending and net exports
B
Consumption, net investment, government spending and net export
C
Consumption, gross investment, government spending and gross exports
D
Wages , rent, interest, profit and depreciation
Question 27
The minimum support prices are a means of supporting the
A
farmers
B
consumers
C
industries
D
retailers
Question 28
Which one of the following is an indirect tax?
A
Income tax
B
Service tax
C
Corporation tax
D
Interest tax
Question 29
India’s Human Development Index HDI in 2011 was better than that of
  • I. China II. Srilanka III. Bangladesh                       IV. South Africa
A
I, II, III, IV
B
III, IV
C
III
D
II, III, IV
Question 30
The Indian Government gets _________ percent of India’s total energy needs are met through imports.
A
30 percent
B
40percent
C
20 percent
D
35 percent
Question 31
Mr. Ladejinsky, an American expert on land reforms, after detailed study observed that one of the following districts worst in land tenure system in Tamil Nadu
A
Namakkal
B
Erode
C
Thanjavore
D
Karur
Question 32
Match the following:
  • Author Name                                Book/ Journal Artcile
  1. Deaton, Angus       1. Adjusted Indian Poverty Estimate for 1999- 2000
  2. Minnas and others    2. India: Poverty, Employment and Social Series
  3. World Bank 1989       3. Poverty in India. Dimensions and Trends
  4. Dandekar and Rath     4. Declining Incidence of Poverty in 1980s
A
1 2 3 4
B
3 4 2 1
C
1 4 2 3
D
3 4 1 2
Question 33
The true measure of economic welfare is now called
A
Welfare Economics
B
National Income
C
Green GNP
D
Net Economic Welfare
Question 34
The share of mechanical and electrical power in agriculture sin the year 2003-2004
A
40 percent
B
84 percent
C
70 percent
D
60 percent
Question 35
Petroleum and Natural Gas Regulatory Board (PNGRB) Act came into force in the year
A
2003
B
2004
C
2005
D
2006
Question 36
How many times has the Indian Currency been demonetized so far?
A
One
B
Three
C
Two
D
Four
Question 37
In the field of agriculture, India is lagging behind
A
Buffer stock
B
Fertiliser use
C
Cereal production
D
Pulses production
Question 38
Prof. P.C. Mahalanobis model  of plan based on the
A
American experience
B
Russian Experience
C
European Experience
D
Asian countries experience
Question 39
The term “sustainable development” first used by the
A
World conservation strategy
B
Brundtland report
C
World Commission on Environment
D
World development report
Question 40
India recorder the highest growth rate of National Income during
A
I Five Year Plan
B
V Five Year Plan
C
VI Five Year Plan
D
VIII Five Year Plan
Question 41
Match the following:
  • States                                Projects
  1. Tamil Nadu               1. Periyar
  2. Kerala                      2. Kunda
  3. Haryana                   3. Damodar Valley
  4. West Bengal              4. Bhakra-Nangal
A
2 1 4 3
B
3 4 2 1
C
4 2 1 3
D
2 3 1 4
Question 42
Disguised unemployment implies
A
Technological inefficiency
B
Zero marginal productivity of labour
C
Full employment
D
Unemployment
Question 43
The aim of Annapurnna scheme is
A
Providing food security for senior citizens
B
Providing food security for children
C
Providing food security for women
D
Providing food security for pregnant women
Question 44
Bharat Nirman Programme aims
A
to provide educational facilities to rural people
B
to provide basic amenities to rural people
C
to provide employment opportunities to rural people
D
to provide health facilities to rural people
Question 45
The per capita income in India in 1867-68 was first ascertained by
A
M.G. Ranade
B
W.Hunter
C
R.C. Dutt
D
Dadabhai Naoroji
Question 46
Which of the statements  given below is/are the features of New Policy?
  1. Reform in trade policy
  2. Reduction in fiscal deficit
  3. To promote Industrial development
  4. Exchange rate
A
1 and 2
B
1, 2 and 3
C
3 and 4
D
2, 3 and 4
Question 47
Which Bank was called Imperial Bank?
A
State Bank of India
B
Reserve Bank of India
C
Bank of India
D
Indian Bank
Question 48
Second Five Year Plan was formulated based on the _________ model.
A
Mahalanobis
B
Rudra
C
Myrdal
D
A.K. Sen
Question 49
The GDP growth of India for a financial year 2015-16 is
A
8.0%
B
7.6%
C
7.2 %
D
7.9%
Question 50
__________% percentage of the country’s total coal is derived from the valley of Damodar and Son in Bihar
A
90%
B
97.6%
C
97%
D
97.5%
Question 51
The new agricultural technology was tried as a pilot project and was called as
A
Integrated Rural Development Programme (IRDP)
B
Integrated District Development Programme (IDDP)
C
Intensive Agricultural Development Programme (IADP)
D
Intensive Agricultural District Programme (IADP)
Question 52
Which plan had set the correct goal in the form of moving “Towards faster and more inclusive growth”?
A
10th plan
B
9th plan
C
11th plan
D
12th plan
Question 53
The Union Government is planning to launch Rashtriya Aviskar Abhiyan to create awareness among the students in
A
Classic music
B
Ancient history
C
Science and arts
D
Science and mathematics
Question 54
Which district has the highest per capita income in Tamil Nadu in 2010-11?
A
Coimbatore
B
Chennai
C
Thanjavur
D
Kanniyakumari
Question 55
Match the following:
  1. NSSO                                       1. 7 day recall methodology
  2. Decline in poverty to 26%             2. 55th round
  3. Decline in poverty to 23.3%           3. 30 day recall methodology
  4. Economics survey                            4. 2000-01
A
4 3 2 1
B
1 4 3 2
C
1 2 3 4
D
2 3 1 4
Question 56
Which of the following is correctly matched?
A
According to 2011 census of India most populous state is - Sikkim
B
According to 2011 census of India least populous state is - UP
C
The Motto of the 2011 census is - Our census Our future
D
According to 2011 census highest proportion of Urban population is - Chennai
Question 57
Match the following:
  1. Red Revolution             1. Meat/Tomato
  2. Pink Revolution             2. Eggs
  3. Golden Revolution         3. Shrimp
  4. Silver Revolution                4. Fruits/Apple
A
1 2 3 4
B
4 3 2 1
C
1 3 4 2
D
2 3 1 4
Question 58
Total outlay for the 11th Five Year Plan period is
A
Rs. 14,88, 147 crore
B
Rs. 21, 56, 571 crore
C
Rs. 36, 44, 718 crore
D
Rs. 78, 846, 782 crore
Question 59
Expand FERA and FEMA
A
Foreign Exchange Regulation Act
B
Foreign Exchange Reserve Act
C
Foreign Exchange Management Act
D
Foreign Exchange Minimum Act
Question 60
Match following and select the correct answer:
  1. TRAI          1. Stock market
  2. SEBI            2. Export promotion
  3. SEZ             3. Electricity
  4. NTPC                4. Telecom
A
4 1 3 2
B
4 1 2 3
C
4 3 2 1
D
3 4 2 1
Question 61
Sustainable development does not include
A
Improvement in health status
B
Improvement in environmental quality
C
Non-utilisation of natural resources
D
Reduction in emissions and waste
Question 62
  •  Tick incorrect answer:
  • The population policy of 2000
A
Concentrates on reproductive health
B
Adopts a decentralized approach
C
Provides incentive to follow two child norm
D
Emphasizes male participation
Question 63
The main causes of rural poverty in India?
  1. Unemployment and underemployment
  2. Population pressures
  3. Indian agriculture is marked by low productivity
  4. A majority of people in rural area do not have enough assets, especially land.
Which of the statements given above is/are correct?
A
I, II, III and IV
B
I, II and III
C
I and II
D
III and IV
Question 64
Choose the correct answer:
  • Agricultural productivity can be measured in terms of
A
Consumption of fertilizer
B
Irrigation facilities
C
Land and labour productivity
D
Mechanization
Question 65
The percentage share of forests in the total area of TamilNadu is
A
13%
B
15%
C
20%
D
17%
Question 66
Globally, Indian agricultural has been ranked first in the production of
A
Rice
B
Groundnut
C
Tobacco
D
Cotton
Question 67
Which one is the oldest as well as the largest industry of India?
A
Paper industry
B
Iron-steel industry
C
Cement industry
D
Textile industry
Question 68
  • Choose the correct answer
  • Which is declared by Government generally at the time of harvest of crops?
A
Minimum support prices
B
Procurement prices
C
Issue prices
D
Retail prices
Question 69
The Kisan Credit Card scheme was introduced in
A
April 1998
B
August 1998
C
March 2011
D
April 2011
Question 70
Which one of the following is not coming under ‘Income Method’ in calculating  National Income?
A
Wage and Salary
B
Income derived from self employment
C
Interest
D
Export of goods and services
Question 71
The self-supporting scheme introduced by the Supreme Court in 2017 to provide legal services for middle and relatively low income groups is known as
A
Middle income group scheme
B
Common Man group scheme
C
Self-supporting group scheme
D
Legal Aid for all – scheme
Question 72
According to world bank, the following scheme is ranked as the world largest public works programme
A
Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
B
Mid day meal Scheme
C
Janani Suraksha Yojana
D
Indira Gandh National Old Age Pension Scheme
Question 73
The GDP growth rate in India for the Year 2015-16 is
A
7.1%
B
7.6%
C
7.2%
D
9.2%
Question 74
India has been ranked 112 out of 159 in 2016 WEFI in September 2016. WEFI refers to
A
Wireless Electronic Fidelity Index
B
World Economic Freedom Index
C
Wireless Electronic Fidelity Internet
D
World Economic Feasibility Index
Question 75
After 1991, the Government of India implemented various reforms in the area of taxation. This was based on the recommendations of the
A
Wanchoo Committee
B
Raja Chellaiah Committee
C
K.N.Raj Committee
D
Narasimham Committee
Question 76
The motto of the Twelfth Five Year Plan is
A
faster, sustainable and more inclusive growth
B
towards faster and more inclusive growth
C
growth with social justice and equality
D
employment generation with faster growth
Question 77
Permanent settlement was the feature of
A
Zamindari system
B
Mahalwari system
C
Ryotwari system
D
None of these
Question 78
Which one of the following committee examined and suggested financial sector reforms
A
Abid Hussain Committee
B
Bhagawathi Committee
C
Chellaiah Committee
D
Narasimham Committee
Question 79
The incorrect statement among the following as per  2011 census is
A
India’s population density is 382 persons/sq.km
B
Sex Ration of India is 940 females/ 1000 males
C
Literacy rate of India is 70.04%
D
Arunachal Pradesh is the least densely populated state of India
Question 80
The objective of Babu Jagjivan Ram Chhatrawas Yojana is
A
to provide hostel facilities to SC boys and girls students
B
to provide educational facilities to girls
C
to provide employment opportunities for girls
D
to provide health facilities for women
Question 81
The main objective of the policy of disinvestment of equity capital of public enterprises is to
A
reduce the burden of budgetary support to them
B
convert them into holding companies
C
hand them over to private entrepreneurs
D
to make them profit earning enterprises
Question 82
The chairman of the 14th Finance commission is
A
C. Rangarajan
B
Y.B. Chavan
C
Y.V. Reddy
D
Vijay Kelkar
Question 83
Which are the “Four factors of productions”?
A
Rupee-Dollar-Ero-Yen
B
GNP-NNP-GDP- NDP
C
Land – Labour –Capital-Organisation
D
Rent-Wage-Interest-Profit
Question 84
Education is
A
Consumption good
B
Investment good
C
None
D
Both
Question 85
In many countries ‘Poverty line’ are measured through the level of
A
Nutrition
B
Population
C
Per Capita Income
D
National Income
Question 86
Match the following:
  1. Jawahar Gram Samriddhi Yojan                       1. 2000-2001
  2. National Social Assistance programme          2. 1993
  3. Employment Assurance Scheme                  3. 1999
  4. Pradhanmantri Gramodaya Yojana                      4. 1995
A
3 1 2 4
B
4 3 1 2
C
3 4 2 1
D
2 3 1 4
Question 87
According to Socio-Economic and Caste Census (SECC), 2015 which state has the highest literacy rate?
A
Sikkim
B
Tamil Nadu
C
Kerala
D
Haryana
Question 88
An entrepreneur is like
A
a crow
B
a duck
C
a peacock
D
an eagle
Question 89
How many people does each ration shop serve?
A
2000
B
2500
C
3000
D
3500
Question 90
What was the fund limit of a small scale industry in the tenth five year plan?
A
75 lakhs
B
100 lakhs
C
50 crore
D
75 crore
Question 91
Theory that explains the location of industry
A
Weber’s Theory
B
Christaller Theory
C
Vonthunan Theory
D
Malthus Theory
Question 92
In which years was the import of food grain in India is Nil?
A
1989 and 1990
B
1993 and 1994
C
1995 and 1996
D
1997 and 1998
Question 93
In which Agricultural crop production does India stand first in the world?
A
Rice
B
Groundnuts
C
Tobacco
D
Sugar
Question 94
How much does India contribute to the world sugar production?
A
15%
B
20%
C
25%
D
30%
Question 95
Match the objectives with Indian plans and give answer using the given codes:
  • Plans                                  Objectives
  1. IV Plan                        1. Inclusive growth
  2. VI Plan                       2. Growth with social justice and equality
  3. IX Plan                 3. Rapid increase in the standard of living of the people
  4. XI Plan                        4. Direct attack on the problem of poverty
A
2 3 1 4
B
3 4 2 1
C
4 3 2 1
D
3 4 1 2
Question 96
The major causative factor in the unequal development of Indian Economy in recent years are:
  1. Slow growth of agriculture widened the urban-rural divide
  2. Organised sector firms decreased informal employment
  3. Delivery of essential services at the grass-root level is poor
  4. Total employment in the economy has increased in recent years
A
I and II correct
B
II and III correct
C
II, III and IV correct
D
I, III and IV correct
Question 97
Which of the following are Government measures to deal with uncertainty in agriculture:
  1. Guaranteed agricultural prices
  2. Buffer stock schemes
  3. Crop insurance
  4. Foreign direct investment in agriculture
A
I and III
B
I, II and III
C
I, II and IV
D
I, III and IV
Question 98
Match the following Towns in the List I with the Industries in the List II:
  • List I                                 List II
  1. Kalpakkam           1. News print
  2. Jharia                  2. Oil refining
  3. Mathura               3. Coal mining
  4. Nepanagar              4. Nuclear power plant
A
4 2 1 3
B
4 3 2 1
C
1 2 3 4
D
3 4 1 2
Question 99
In the total land area, the minimum forest cover, required to maintain the ecological balance is
A
50%
B
40%
C
33%
D
25%
Question 100
Tamil Nadu State Economic Growth rate was ___ percentage in the year 2016-17.
A
6.74%
B
7.90%
C
7.94%
D
8.01%
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