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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) goods and services produced in an economy in a year
(b) goods produced in an economy in a year
(c) final goods produced in an economy in a year
(d) final goods and services produced in an economy in a year
The correct answers to the above question in:
Answer: (d)
Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of time.
GDP was first developed by Simon Kuznets for a US Congress report in 1934. After the Bretton Woods conference in 1944, GDP became the main tool for measuring the country’s economy.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
Consider the following statement:
- Increase in annual private investment.
- Increase in real national income.
- Increase in real per capita income.
- Increase in net annual investment.
a) 2 only
b) 3 only
c) 1 only
d) 4 only
Answer »Answer: (b)
Indian economy is increased by real per capita income
Question : 2
Which of the following is deducted from NNP to arrive at Nl ?
a) Capital consumption allowance
b) Indirect Tax
c) Subsidy
d) Interest
Answer »Answer: (b)
Net national income (NNI) is an economics term used in national income accounting. It can be defined as the net national product (NNP) minus indirect taxes. Net national income encompasses the income of households, businesses, and the government.
Question : 3
Expand NABARD.
a) National Bank for Agri Related Development
b) National Bank for Agricultural and Rural Development
c) National Bank for Agriculture and Resource Development
d) National Bank for Asian Reaserch Development
Answer »Answer: (b)
NABARD stands for National Bank for Agriculture and Rural Development.
It was established on 12 July 1982 by a special Act of parliament to focus on the upliftment of rural India by increasing the credit flow for elevation of agriculture & rural non-farm sector. It is headquartered in Mumbai (Maharashtra).
Question : 4
The farmers are provided credit from a number of sources for their short and long term needs. The main sources of credit to the farmers include :
- the Primary Agricultural Co-operative Societies, Commercial Banks, RRBs and Private money lenders.
- the NABARD, RBI, Commercial banks and Private money lenders.
- the District Central Co-operative Banks (DCCB), the lead banks, IRDP and JRY
- the Large Scale Multi-purpose programme, DCCB, IFFCO and Commercial banks.
a) 1 and 2 only
b) 1 only
c) All of the above
d) 3 and 1 only
Answer »Answer: (b)
Statement 1 lists all the main and primary sources of agricultural credit institutions exclusively for farmers.
Question : 5
National income ignores
a) exports of the IT sector
b) sales of a firm
c) salary of employees
d) sale of land
Answer »Answer: (d)
National Income ignores sale of land.
Question : 6
Match the following in regards to labour force vs sector where
Column A | Column B |
I. Primary Sector | 17.3 |
II. Secondary Sector | 72.1 |
III. Tertiary Sector | 10.6 |
a) 1, 2, 3
b) 3, 2, 1
c) 2, 3, 1
d) 3, 1, 2
Answer »Answer: (c)
Occupational structure refers to the distribution of the workforce in the different occupations of the country.
As the economy grows, the labour force shifts from the primary sector to the secondary and tertiary sector.
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
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