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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) All of their incomes
(b) An equal part of their income
(c) A smaller part of their income
(d) A larger part of their income
The correct answers to the above question in:
Answer: (c)
A “subsistence” or necessary level of consumption produces differences in consumption growth rates across income levels. This implies that poor households have lower saving rates because they cannot “afford to save” after buying the necessities.
The institutional and behavioural mechanism also leads to low levels of saving among the poor.
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Question : 1
Human Development Index comprises literacy rates, life expectancy at birth and
- GDP per head in the US dollars.
- GDP per head at real purchasing power.
- GNP in US dollars
- National Income per head in US dollars.
a) 2 only
b) 3 only
c) 1 only
d) 4 only
Answer »Answer: (d)
Human Development Report the HDI combines three dimensions:
- A long and healthy life: Life expectancy at birth,
- Education Index: Mean years of schooling and Expected years of schooling and
- A decent standard of living: GNI per capita (PPP US$).
Question : 2
At present Indian Rupee is
a) fully convertible on current account
b) fully convertible on capital account
c) partially convertible on capital account
d) partially convertible on current account
Answer »Answer: (a)
At present Indian Rupee is fully convertible on the current account. Current account convertibility means that any company that wants to conduct business with outside companies (like TCS, Infy etc.) can convert the dollar payment into a Rupee payment or pay in terms of the dollar itself.
This is fully allowed in India provided that initial permission is taken from RBI.
Question : 3
Consider the following specific stages of demographic transition associated with economic development :
- Low birth rate with low death rate
- High birth rate with high death rate
- High birth rate with low death rate
a) 2, 1, 3
b) 2, 3, 1
c) 1, 2, 3
d) 3, 2, 1
Answer »Answer: (b)
2, 3, 1, i.e. High birth rate with high death rate, High birth rate with low death rate, Low birth rate with low death rate.
Question : 4
One of the main factors that led to rapid expansion of Indian exports is
a) Diversification of exports
b) Liberalisation of the economy
c) Recession in other countries
d) Imposition of import duties
Answer »Answer: (a)
India has rapidly diversified its exports markets from the traditional export partners towards emerging and developing economies. This has played a crucial role in cushioning India’s exports growth during recent years, which has remained fairly steady despite the global economic slowdown.
The rapid diversification of India’s export destinations is encouraging. The widely spreading export markets can be noted from the narrowing dependence on selected economies for exports.
Question : 5
Coal mines were Nationalised in the year :
a) 1976
b) 1971
c) 1972
d) 1970
Answer »Answer: (c)
The Coal Conservation and Development Act, 1974 provides for imposition of excise duty on coal despatches for meeting activities like conservation of coal, development of coal mines execution of stowing and other operations for the safety in coal mines and research work connected with conservation and utilisation of coal, and assistance in mining operation. The Coking Coal (Nationalisation) Act was enacted in 1972.
Question : 6
According to 2011 census urban-rural population ratio was about-
a) 28 : 72
b) 35 : 65
c) 32 : 68
d) 31 : 69
Answer »Answer: (d)
GET Introduction to Indian Economy PRACTICE TEST EXERCISES
introduction to indian economy section 1
introduction to indian economy section 2
introduction to indian economy section 3
introduction to indian economy section 4
introduction to indian economy section 5
introduction to indian economy section 6
introduction to indian economy section 7
introduction to indian economy section 8
introduction to indian economy section 9
introduction to indian economy section 10
introduction to indian economy section 11
introduction to indian economy section 12
introduction to indian economy section 13
introduction to indian economy section 14
Introduction to Indian Economy Shortcuts and Techniques with Examples
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