Practice Quiz set 3 - indian economy mcq Online Quiz (set-1) For All Competitive Exams

Q-1)   How many Ex-officio members can be selected from the Union Council of Ministers to be nominated by the Prime Minister in Niti Aayog?

(a)

(b)

(c)

(d)

Explanation:

Maximum of four members of the Union Council of Ministers to be nominated by the Prime Minister to the Niti Aayog.


Q-2)   Consider the following statements:
  1. In the 11th five-year plan, the growth rate of the export was always positive.
  2. In the middle of the 11th five-year plan, the import growth was negative due to external factors.
Which of the statements given above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

Regarding to the 11th five-year plan, in the middle of the plan, the import growth was negative due to external factors and the growth rate of the export was negative during certain period.


Q-3)   Considerthe following statements about Indian Economy?
  1. During 11th Five Year Plan, the foodgrain production steadily increased.
  2. During 11th Five Year Plan, the average inflation on the wholesale price Index is above 10%.
Which of the statements given above is/are correct?

(a)

(b)

(c)

(d)

Explanation:

During The eleventh plan ( 2007-12)the food grain production steadily increased and the average inflation on the wholesale price Index was above 10%.


Q-4)   Which of the two employment programmes are being merged in newly introduced Prime Minister’s Employment Generation Programme?
  1. PMRY
  2. NREP
  3. REGP
  4. RLEGP
Choose the right option

(a)

(b)

(c)

(d)


Q-5)   Which plans and features are wrongly matched?
  1. First Plan - Community development projects
  2. Second - Heavy industries
  3. Third - Green Revolution
  4. Fourth Plan

(a)

(b)

(c)

(d)


Q-6)   Consider the following statements:
  1. Bulk of employment in India is in rural areas.
  2. The disguised unemployment in agricultural sector is perennial.
  3. Industrialization has rendered several people jobless in India.
Which of the statement(s) given above is/ are correct?

(a)

(b)

(c)

(d)


Q-7)   ‘Inclusive growth’ is a phrase used in India’s
  1. 9th Plan
  2. 10th Plan
  3. 11th Plan
  4. 12th Plan
Select the correct answer using the codes given below.

(a)

(b)

(c)

(d)

Explanation:

Inclusive growth is a phrase used in India for 11th (2007-2012) and 12th (2012-2017) Five year plans.


Q-8)   Which of the following statements is/ are correct?
  1. NIFTY is based upon 50 firms in India.
  2. NIFTY is governed and regulated by the Reserve Bank of India.
  3. NIFTY does not trade in mutual funds.
Select the correct answer using the codes given below

(a)

(b)

(c)

(d)

Explanation:

NIFTY is an Index computed from the performance of top stocks from different sectors listed on NSE (National stock exchange). NIFTY consists of 50 companies from 24 different sectors.

Indian Capital Markets are regulated and monitored by the Ministry of Finance, The Securities and Exchange Board of India and The Reserve Bank of India. It does not trade in mutual funds.


Q-9)   Which of the following statements is/are incorrect?
  1. Open Unemployment: It refers to unemployment that occurs at certain seasons of the year. The period of such unemployment varies from state to state, depending upon the methods of farming, the condition of the soil, the type and numbers of crops grown, etc.
  2. Frictional Unemployment: It refers to temporary unemployment that exists during the period, wherein workers leave one job and join some other.
  3. Cyclical Unemployment: It is associated with the downswing and depression phases 9 business cycle. It is the most common type of unemployment in the developed capitalist economies.
Select the incorrect definition using the code given below:

(a)

(b)

(c)

(d)

Explanation:

Seasonal Unemployment: It refers to unemployment that occurs at certain seasons of the year. The period of such unemployment varies from state to state, depending upon the methods of farming, the condition of the soil, the type and numbers of crops grown, etc.

Frictional Unemployment: It refers to temporary unemployment that exists during the period, wherein workers leave one job and join some other.

Cyclical Unemployment: It is associated with the downswing and depression phases 9 business cycle. It is the most common type of unemployment in the developed capitalist economies.


Q-10)   Which among the following is not correct with regard to Sampoorna Garmeena Rozgar Yojana?
  1. The cash component of the programme is borne exclusively by the Central Government.
  2. Foodgrains are provided free of costs to the States/ Union Territories.
Select the answer unsing the code given below:

(a)

(b)

(c)

(d)

Explanation: