Practice Quiz set 1 - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) The concept of Economic Planning in India is derived from which country?
(a)
(b)
(c)
(d)
The concept of Economic planning in India is derived from Russia.
Q-2) Consider the following statements :- In the history of Indian planning, the actual growth rate of the GDP has never been higher than the targeted growth rate.
- In the first five year plan, the actual GDP growth rate was more than the targeted growth rate.
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
In the first Five Year Plan, the actual GDP growth rate was more than the targeted growth rate.
Q-3) Harrod-Domar model of growth is based on the concepts of and their equality. - Population and productivity growth.
- Investment and average growth rate of income.
- Actual, warranted and natural growth rate.
- Productivity growth and investment growth. Codes:
(a)
(b)
(c)
(d)
Q-4) In which year was the 20 point economic programme was announced for the very first time?
(a)
(b)
(c)
(d)
The Twenty Point Programme was initially launched by Prime Minister Indira Gandhi in 1975 and was subsequently restructured in 1982 and again in 1986. With the introduction of new policies and programmes, it has been finally restructured in 2006 and it has been in operation at present.
The basic objective of the 20-Point Programme is to eradicate poverty and to improve the quality of life of the poor and the underprivileged population of the country.
Q-5) Consider the following statements: - In India, more than 85% agriculture workers are mainly casual labourers.
- Agriculture labourers in India are mainly dominated by the backward classes.
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
Agriculture labourers in India are mainly dominated by the backward classes and more than 85% agriculture workers are manly casual labourers.
Q-6) Consider the following statements: - Agriculture including allied activities accounted for about 55% employment in the country according to census 2011.
- The growth in agriculture and allied sectors is a necessary condition for inclusive growth in India.
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
The growth in agriculture and allied sectors is a necessary condition for inclusive growth in India. Agriculture including allied activities accounted for about 55% employment in the country according to census 2011.
Q-7) Which of the following statements is/are correct?
- If a country is experiencing an increase in its per capita GDP, its GDP must necessarily be growing.
- If a country is experiencing negative inflation its GDP must be decreasing.
Select the correct answer using the codes given below
(a)
(b)
(c)
(d)
Negative Inflation is a decrease in price level and economic growth is defined as GDP rise. A decrease in inflation means the prices have fallen.
So, there is an increase in purchasing power of money. It is increased consumption therefore GDP increases.
Q-8) Consider the following statements regarding Indian planning.
- The second five year plan emphasized on the establishment of heavy industries.
- The third five year plan aimed to achieve self-sufficiency in foodgrains and increase agricultural production to meet the requirements of industry and exports.
Which of the statements given above is/are correct?
(a)
(b)
(c)
(d)
The Second Five Year Plan heralded in a true sense the Socialist Project of the then Prime Minister, Jawaharlal Nehru. The economic policies of Nehru were heavily influenced by the erstwhile Union of Soviet Socialist Republics (USSR) which had followed the path of speedy industrialisation to expand the manufacturing base of its economy.
The Second Five year Plan focused mainly on heavy industry as against the First Plan which was essentially an agricultural plan. This was done to boost domestic production and manufacturing of goods. The third plan aimed to achieve self-sufficiency in foodgrains and to increase agricultural production to meet the requirements of industry and exports.
Q-9) In India, rural incomes are generally lower than urban incomes. Which of the following reasons account for this?
- A large number of farmers are illiterate and know little about scientific agriculture.
- Prices of primary products are lower than those of manufactured products.
- Investment in agriculture has been lower when compared to investment in the industry
(a)
(b)
(c)
(d)
In India, a large number of farmers are illiterate and know little about scientific-agriculture methods. Prices of primary products are lower than those of manufactured products and investment in agriculture has been lower when compared to investment in the industry.
All these reasons are responsible for lower rural income.
Q-10) Planning was considered a prerequisite :- For balanced socio-economic development
- For extending the benefits of development in an even manner.
- For focussing on removal of regional disparities
- For maximizing the utilization of available resources
Select the correct answer using the codes given below :Codes :
(a)
(b)
(c)
(d)
Planning was considered for balanced socio-economic development to focus on removal of regional disparities and maximizing the utilization of available resources.