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Indian Economy Model Test 9 in English
Indian Economy Model Test Questions 9 in English
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Question 1 |
Human Development Index (HDI) does not include which of the following socio-economic indicators?
Infant mortality rate | |
GNP per capita | |
Life expectancy | |
Literacy rate |
Question 2 |
Structural unemployment arises due to
deflationary condition | |
heavy industry bias | |
shortage of raw materials | |
inadequate productive capacity |
Question 3 |
Which committee fixed poverty line in India?
Laksawala Committee | |
Narshiman Committee | |
Rangarajan Committee | |
None of these |
Question 4 |
The Rao-Manmohan model of Economic development was initiated in the year
1982 | |
1985 | |
1991 | |
1995 |
Question 5 |
Chronic poverty, refers to the persons/ households who have been
poor for a long duration | |
poor by birth | |
poor in terms of low food consumption | |
living below the poverty line |
Question 6 |
Prevention of scheduled castes from the use of public wells and from entering schools is called
social disabilities | |
religious disabilities | |
economic disabilities | |
intellectual disabilities |
Question 7 |
Where in India are coins minted?
Delhi, Mumbai and Kolkata | |
Delhi, Kolkata and Hyderabad | |
Mumbai, Delhi and Bangalore | |
Mumbai, Kolkata and Hyderabad |
Question 8 |
The reason for decrease in national income is not due to
growth of population | |
growth of production | |
growth of expenditure | |
growth of consumption |
Question 9 |
Population explosion is associated with
high birth rate and low death rate | |
high birth rate and high death rate | |
low birth rate and high death rate | |
low birth rate and low death rate |
Question 10 |
Productivity in Indian Agriculture is low because of
inefficient farming techniques | |
lack of cheap and easy availability of credit | |
absence of irrigation over a large part of the sown area | |
all of these |
Question 11 |
“Capital is essential only but it is not enough for the development”. This was said by
Nurkse | |
Dorner | |
Adam Smith | |
Marshall |
Question 12 |
Which of the following is not included in the primary sector?
forestry | |
fishing | |
water supply | |
mining and quarrying |
Question 13 |
Among the following products exported to western countries in which India stood first?
Pepper | |
Sandal | |
Pearl | |
Ivory |
Question 14 |
The lead bank scheme was introduced during
1960 | |
1965 | |
1968 | |
1972 |
Question 15 |
The basic distinction between urban and rural settlements is the
population size | |
population density | |
function | |
location |
Question 16 |
In export trade, letter of credit is produced by
an exporter | |
an importer | |
customs authority | |
shipping company |
Question 17 |
The per capita income of an economy can be calculated by
dividing GDP by population | |
dividing GNP by population | |
multiplying GNP by population | |
dividing GNP by number of people employed |
Question 18 |
Bank rate is raised during
deflation | |
inflation | |
stable prices | |
unemployment |
Question 19 |
The three tier Panchayat Raj system was introduced by
Ashok Mehta Committee | |
Balwani Rai Mehta Committee | |
Reforms Committee | |
Administrative Committee |
Question 20 |
The ‘Great Depression’ occurred in
1830 | |
1930 | |
1980 | |
1880 |
Question 21 |
The first Five-year plan of India was launched n
1947 | |
1951 | |
1956 | |
1961 |
Question 22 |
Which one of the following public enterprises is not a ‘Navaratna’ category?
Oil and Natural Gas Corporation (ONGC) | |
Mahanagar Telephone Nigam Limited (MTNL) | |
Bharat Sanchar Nigam Limited (BSNL) | |
Indian Oil Corporation (IOC) |
Question 23 |
The first Indian Bank was
Trade Bank | |
Imperial Bank | |
Presidency Bank Calcutta | |
None of these |
Question 24 |
C2C is
Consumer to Consumer | |
Customer to Customer | |
Customer to Consumer | |
All of these |
Question 25 |
By which type of Bank Account can the holder deposit or withdraw money many numbers of times in a day without restriction?
Savings Account | |
Fixed Deposit | |
Current Account | |
Recurring Deposit |
Question 26 |
Which country stands first in planning?
Soviet Russia | |
India | |
America | |
Japan |
Question 27 |
The first Agricultural Census in India was conducted in
1965-66 | |
1970-71 | |
1975-76 | |
1980-81 |
Question 28 |
- Subba Rao is the Governor of Reserve Bank of India. What does ‘D’ stand for?
Durvi | |
Duvvi | |
Divivi | |
Duvvuri |
Question 29 |
The GDP growth target of 10th plan was
8.7% | |
9% | |
9.3% | |
8% |
Question 30 |
The first Planning Commission of India was set up in
May, 1960 | |
July, 1953 | |
March, 1950 | |
June, 1973 |
Question 31 |
Which of the following non-economic factors determine the economic development of a country?
- Social set up II. Religion
I and II are correct | |
I, III and IV are correct | |
I, II and III are correct | |
IV alone is correct |
Question 32 |
The foremost economic problem of India’s agricultural labourers is
low income | |
heavy indebtedness | |
poor standard of living | |
absence of organized activity |
Question 33 |
Industrial sickness is nothing but
any one part of the factory is being affected | |
unable to pay back the dept | |
unable to create surplus income and running the industry only by receiving the debt | |
change in the ownership of industry |
Question 34 |
The indicator(s) of development according to modern ideology is/are
growth in national income | |
growth in per capita income | |
high rate of capital | |
all of these |
Question 35 |
New Entrepreneurs Agency was established in
1956 | |
1961 | |
1980 | |
1986 |
Question 36 |
Female literacy rate is below 30% (2001 census) in the districts of
Kerala | |
Tamil Nadu | |
Uttar Pradesh | |
Karnataka |
Question 37 |
During the second Five-year plan period, the planners worked out the capital output ratio at
1 : 5 : 1 | |
5 : 4 : 1 | |
2 : 3 : 1 | |
4 : 3 : 7 |
Question 38 |
The expansion of HDI is
Hindi Development Institute | |
Human Development Index | |
Human Development Investment | |
None of these |
Question 39 |
Who is the Governor of Reserve Bank of India at present?
B.Y. Reddy | |
C. Rangarajan | |
Bimal Jalan | |
D. Subbarao |
Question 40 |
Who is the chairman of 12th Finance Commission?
C. Rangarajan | |
K.C. Panti | |
Kelkar | |
Madhavan Ravindra |
Question 41 |
Which of the following is not correctly matched?
Central Vigilance Commission - Kripalani Committee | |
Father of All India Service - Sardar Vallabhai Patel | |
Secretary Genral of Non-Aligned - Dr. Rajendra Prasad | |
Union Public Service Commission - A.M. Khusru |
Question 42 |
Agricultural holding tax was recommended by
John Mathai Committee | |
Bhoothalingam Committee | |
Wanchoo Committee | |
Raj Committee |
Question 43 |
Indra Awas Yojana (IAY) scheme aimed at
providing loan assistance | |
providing houses at free of cost | |
providing transport facilities | |
none of these |
Question 44 |
Which commodity forms the single largest item if India import?
Capital goods | |
Food and allied products | |
Gold | |
Oil(fuel) |
Question 45 |
As per RBI stipulation domestic banks are required to provide _______percent of their net bank credit to priority sector
32 | |
40 | |
10 | |
25 |
Question 46 |
The Rajiv Gandhi Udyami Mitra Yojana was launched in
2006 | |
2007 | |
2008 | |
2009 |
Question 47 |
The National Rural Employment Programme was implemented in Tamil Nadu in the year
1980 | |
1990 | |
1970 | |
1960 |
Question 48 |
Economic drain theory was populated by
The Britishers in India | |
Dadabhai Naoroji | |
Vera Anstey | |
V.V. Bhatt |
Question 49 |
The policy RBI follows for control of inflation is
increase in Repo rate and CRR | |
decrease in Repo rate and increase in CRR | |
decrease in Repo rate and CRR | |
decrease in bank rate |
Question 50 |
Consider the following statements:
- Assertion (A): Increased spending on civil administration and defence expenditure in India’s national income is an unwelcome feature.
- Reason(R): The contribution of these sector does not generate durable income yielding assets to the country.
Both (A) and (R) are true, but (R) is not the correct explanation of (A) | |
Both (A) and (R) are true and (R) is not correct explanation of (A) | |
(A) and (R) are false | |
(A) is true but (R) is false |
Question 51 |
Prime Minister Employment Generation Program (PMEGP) was implemented in India by merging the schemes of
PMRY and REGP | |
NREP and IRDP | |
IAY and IRDP | |
SFDA and MFAL |
Question 52 |
The most dominant contributor to GDP in recent years is
agriculture | |
industry | |
services | |
exports |
Question 53 |
Which of the following is a feature of Tamil Nadu economy?
High rural – urban migration | |
Low man-farm employment | |
High urbanization | |
Low urbanization |
Question 54 |
Which one of the following sectors is the major contributor(s) to Tamil Nadu state’s gross domestic product?
Agriculture & Allied sectors | |
Secondary sector | |
Service sector | |
Informal sector |
Question 55 |
When there is increase in economic development the share of tertiary (service) sector in National Income will
increase | |
decrease | |
remain constant | |
remain proportional |
Question 56 |
Who was not the member of the first National Income Committee of 1949 ?
P.C. Mahalanobis | |
D.R. Gadgil | |
Dadabhai Naoroji | |
V.K. R.V. Rao |
Question 57 |
India is a member of which of the following?
Asian Development Bank | |
Asia- Pacific Economic Corporation | |
Colombo Plan | |
Organization for Economic Co-operation and Development |
Question 58 |
Consider the following statements
- Assertion(A): Regional disparities in development have been continuously decreasing in India due to planning.
- Reason(R): New technology in Indian agriculture is size neutral but not resource nrutral.
- Now select your answer according to the coding scheme given below:
Both (A) and (R) are true, but (R) is not the correct explanation of (A) | |
Both (A) and (R) are true and (R) is not correct explanation of (A) | |
(A) is true but (R) are false | |
(A) is true but (R) is false |
Question 59 |
The Special Economic Zone Act was passed in Indian Parliament in
May 2005 | |
April 2004 | |
May 2008 | |
April 2007 |
Question 60 |
Which is the largest public sector bank in India?
Indian Bank | |
Indian Overseas Bank | |
Canara Bank | |
State Bank of India |
Question 61 |
The first ‘Special Economic Zone’ created in Tamil Nadu is in
Coimbatore | |
Chennai | |
Madurai | |
Salem |
Question 62 |
Which of the following is a direct tax?
Sales tax | |
Excise duty | |
Excise duty | |
None of these |
Question 63 |
Double counting means
- Counting the value of a product at the final stage of production.
- Counting the value of a product at each stage of production
- Counting the value of a product more than once
I only | |
III only | |
I and II | |
I and III |
Question 64 |
Which Five Year Plan gave importance to development of basic and heavy industries?
I | |
II | |
III | |
IV |
Question 65 |
The planning commission was set up in
1947 | |
1948 | |
1949 | |
1950 |
Question 66 |
When was Agricultural Price Commission set up?
1950 | |
1955 | |
1965 | |
1975 |
Question 67 |
When was National Agricultural Insurance Scheme introduced?
1979-1980 | |
1989-1990 | |
1999-2000 | |
2009-2010 |
Question 68 |
The architect of the Second Five Year Plan
Jawaharlal Nehru | |
Indira Gandhi | |
V.V. Giri | |
P.C. Mahalanobis |
Question 69 |
SARFAESI Act was introduced for the purpose of
controlling stock exchanges | |
regulating capital markets | |
streamlining the financial system | |
enabling the banks to realize their views |
Question 70 |
What is Broad money?
Currency with public + demand deposits of the public | |
Currency with public + post office savings deposits | |
Currency with public + time deposits of public with banks + demand deposits | |
Currency with public + derived deposits |
Question 71 |
Disposable income is equal to
personal income minus subsidies | |
personal income minus taxes | |
personal income minus transfer payment | |
national income minus depreciation |
Question 72 |
Annual rate of inflation of all commodities is 2009-10 was
14.4% | |
10% | |
8% | |
11% |
Question 73 |
What is the rank of Tamil Nadu in economic growth among the states in India during 2009-10?
3rd | |
4th | |
5th | |
6th |
Question 74 |
The largest contribution to GDP still comes from
agriculture | |
manufacturing industries | |
construction | |
services |
Question 75 |
Which one of the following factors does not influence velocity of circulation of money?
Quantity of money | |
Selling cost of business firms | |
Credit facilities | |
Business conditions |
Question 76 |
Commonwealth Bank of _______ in August 2010, opened its first Branch in India in Mumbai
Denmark | |
Austrialia | |
Canada | |
Ireland |
Question 77 |
Which one of the following comes under NBFIs?
Commercial Bank | |
Co-operative Bank | |
UTI | |
None of these |
Question 78 |
In money supply M3= M1+
net time deposits of banks | |
total deposits with Post Office savings bank | |
net demand deposits of banks | |
none of these |
Question 79 |
Inflation is most often caused by
supply side forces increase costs to producers | |
demand side forces which depress the level of consumer spending | |
rapid expansion of money supply | |
unreasonable wage demands by labour unions |
Question 80 |
An increases in the growth rate of money supply is most likely to be followed by
recession | |
decline in economic activity | |
recession and decline in economic activity | |
inflation |
Question 81 |
Match List I correctly with List II and select your answer using the codes given below:
Concepts of National Income
List I List II
- GNP 1. Value of output produced by factors of production by domestic residents
- GDP 2. GNP- depreciation
- NNP 3. GDP_ depreciation
- NDP 4. GDP + Income from abroad
2 3 1 4 | |
3 4 1 2 | |
4 1 2 3 | |
1 2 3 4 |
Question 82 |
An example of indirect tax is
Income tax | |
Sales tax | |
Wealth Tax | |
Gift tax |
Question 83 |
The non tax revenue of the Central Government does not include
fiscal services | |
dividend and profits | |
economic services | |
customs duties |
Question 84 |
If the GDP is measured at the price prevailing at a point of time, then it is called
GDP current price | |
GDP market price | |
GDP constant price | |
(A)+(B)+(C) |
Question 85 |
The product method of measuring GDP involves
incomes generated from the production of goods and services | |
adding up the value of everything produced in the country during the year | |
adding up all expenditures of final output | |
none of the above |
Question 86 |
A higher interest rate might induce households to ______ but businesses to _______
save more, borrow less | |
save less, borrow more | |
save more, borrow more | |
save less, borrow less |
Question 87 |
A developing economy has the following features
Low per capita income, chronic unemployment occupational pattern | |
Population pressure | |
Only (A) | |
(A) and (B) |
Question 88 |
Deflation refers to a condition of _______ prices.
falling | |
rising | |
constant | |
moderate |
Question 89 |
Which is the correct sequence of various sectors in GDP of India in the descending order?
Primary sector, Secondary Sector, Tertiary sector | |
Primary sector, Tertiary sector, Secondary sector | |
Secondary sector, Tertiary sector, Primary sector | |
Tertiary sector, Secondary sector, Primary sector |
Question 90 |
The National Food Security Act was gazette in
September, 2013 | |
August 2013 | |
September 2012 | |
August 2012 |
Question 91 |
Net National Income (NNI) does not include
Indirect business taxes | |
Corporate income taxes | |
Depreciation charges | |
The rental value of house-owners |
Question 92 |
Till which Five Year Plan, employment strategy had been growth linked?
Fifth Five Year Plan | |
Sixth Five Year Plan | |
Seventh Five Year Plan | |
Eighth Five Year Plan |
Question 93 |
Given below are two statements, one labeled as assertion (A) and the other labeled as:
- Assertion(A): India’s Public Sector helped in the development of a sound industrial base,
- Reason (R): Public Sector is under State Information Appropriate Policies and providing financial and other support has helped the Public Sector.
(A) is correct but (R) is wrong | |
Both (A) and (R) are correct | |
(A) is wrong but (R) is correct | |
Both (A) and (R) are wrong |
Question 94 |
Rate of saving is measured as a proportion of Gross Domestic Product (GDP) at
Constant prices | |
Market prices | |
Relative prices | |
None of the above |
Question 95 |
National Income is
Income of the Central Government | |
Income of the Central & State Government | |
Total of factor incomes | |
Profits of the Public sector |
Question 96 |
The new agricultural technology can best be described as
Land augmenting | |
Labour augmenting | |
Labour displacing | |
Labour displacing |
Question 97 |
The socialist pattern of society was first articulated in the
first five year plan | |
Annual plan | |
Second plan | |
Eighth plan |
Question 98 |
The Eleventh five year plan was implemented during the period
2005-2010 | |
2002-2007 | |
2007-2012 | |
2006-2011 |
Question 99 |
According to the National Human Development Report (NHDR) 2001, Tamil Nadu scored the
7th rank | |
3rd rank | |
4th rank | |
9th rank |
Question 100 |
Who among the following computed National Income on the basis of scientific method?
Prof. Mahalanobis | |
Dr. K.N. Raj | |
Dr. V.K. R.V. Rao | |
Dr. Vakil |
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