introduction to indian economy section 13 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 14 EXERCISES
-
Top 500+ Basic Indian Economy GK MCQ Quiz For SSC IBPS »
-
New Indian Economy GK MCQ Quiz PDF For UPSC/IAS Prelims »
-
Basic Indian Economy Concepts MCQs Quiz For RRB NTPC Exam »
-
New 499+ Fundamentals of Indian Economy MCQ Quiz For IBPS »
-
555+ Indian Economy Concepts Basics Fundamentals MCQ Quiz »
-
Top 500+ Indian Economy GK MCQs Quiz PDF For SSC UPSC RRB »
-
New 499+ Indian Economy GK Question And Answers Quiz PDF »
-
Best 500+ Indian Economy General Knowledge MCQ Quiz PDF »
-
500+ Indian Economy General Studies Online MCQ Quiz PDF »
-
New 500+ Indian Economy Basic Static GK MCQ Quiz For IBPS »
-
500+ Introduction to Indian Economy GK MCQ Quiz For SSC »
-
800+ Latest Indian Economy GK Questions & Answers MCQ PDF »
-
1000+ Indian Economy GK Questions And Answers Quiz PDF »
-
1000+ Indian Economy Basic Concepts GK MCQ PDF For SBI PO »
The following question based on Introduction to Indian Economy topic of indian economy mcq
- Reserve currency acts as the international pricing currency in the global market for commodities like oil and gold.
- The country whose local currency is accepted as reserve currency gets an added advantage in terms of lower commodity rates in the international market.
(a) 1and 2 both
(b) 2 only
(c) 1 only
(d) None
The correct answers to the above question in:
Answer: (a)
A reserve currency (or anchor currency) is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves, and that is commonly used in international transactions for commodities, like oil and gold.
Persons who live in a country that issues a reserve currency can purchase imports and borrow across borders more cheaply than persons in other nations because they need not exchange their currency to do so.
Discuss Form
Read more introduction Based Indian Economy Questions and Answers
Question : 1
Which one of the following is not considered as an infrastructure investment ? Investment in a
a) Railways project
b) Power project
c) Telecommunication
d) Automobile industry
Answer »Answer: (d)
Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function.
The term typically refers to the technical structures that support a society, such as roads, bridges, water supply, sewers, electrical grids, telecommunications, and so forth, and can be defined as “the physical components of interrelated systems providing commodities and services essential to enable, sustain, or enhance societal living conditions.”
Viewed functionally, infrastructure facilitates the production of goods and services, and also the distribution of finished products to markets, as well as basic social services such as schools and hospitals;
For example, roads enable the transport of raw materials to a factory.
So an investment in infrastructure does not include the automobile industry which is a capital-based industry.
Question : 2
Fiscal policy is concerned with
a) Public expenditure and debt
b) Public revenue
c) Bank rate policy
d) Both (a) and (b)
Answer »Answer: (d)
Fiscal policy is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy.
The two main instruments of fiscal policy are government taxation and changes in the level and composition of taxation and government spending can affect the following variables in the economy:
- Aggregate demand and the level of economic activity;
- the pattern of resource allocation; and
- the distribution of income.
Question : 3
Why is demographic dividend likely to be manifested in India in future?
a) Population of children below 7 years is likely to increase
b) opulation in the age group above 65 years is likely to increase
c) Population in the age group of 15-64 years is likely to increase
d) Population in the age group between 8-15 years is likely to increase.
Answer »Answer: (c)
Question : 4
Consider the following statement
- The immediate objective is to address the unmet needs for contraception, health care infrastructure and basic reproductive and child health care.
- The medium-term objective is to bring the Total Fertility Rate (TFR) to replacement levels of 2.1 by 2010.
- The long-term objective is to achieve a stable population by 2045, at a level consistent with the requirement of sustainable economic growth, social development and environmental protection.
a) 2 only
b) 3 only
c) 1 only
d) 1, 2 and 3
Answer »Answer: (d)
The Government of India in February 2000, announced the National Population Policy (NPP) with the objectives,
- The immediate objective is to address the unmet needs for contraception, health care infrastructure and basic reproductive and child health care.
- The medium-term objective is to bring the Total Fertility Rate (TFR) to replacement levels of 2.1 by 2010.
- The long-term objective is to achieve a stable population by 2045, at a level consistent with the requirement of sustainable economic growth, social development and environmental protection.
Question : 5
Who was the first Indian governor of the Reserve Bank of India?
a) Sachindra Roy
b) C.D. Deshmukh
c) S Mukherjee
d) None of these
Answer »Answer: (b)
C.D. Deshmukh was the first Indian to be appointed as the Governor of the Reserve Bank of Indian in 1943.
He subsequently served as the Finance Minister in the Union Cabinet (1950–1956). He was a civil servant by profession.
Question : 6
Per Capita income is maximum in which of the following states in India?
a) Punjab
b) Himachal Pradesh
c) Gujarat
d) Goa
Answer »Answer: (d)
Generally, per capita income is the indicator of the progress of any country. According to World Development Report 2009, the per capita income of India was $950. Goa has the highest per capita income in India.
Goa leads the country with a per capita income of Rs.1,92,652. Delhi comes in second after Goa with PCI of Rs.1,75,812 followed by Chandigarh (1,28,634 – 2011) & Haryana (1,09,227).
Note: According to recent data given by the Ministry of Statistics and Programme Implementation, Goa has the highest NSDP per capita among 33 Indian states and union territories.
NSDP per capita of Goa is estimated at 224,138 Indian rupees in 2013-14 at current prices. The ranking of Delhi is two with a per capita income of around 212,219 INR. Sikkim is third, Chandigarh is fourth and Puducherry is the fifth richest economy of India.
Bihar, Uttar Pradesh, Manipur, Assam, and Jharkhand is top 5 poorest state in terms of NSDP per capita. These five states have net state domestic product per capita below Rs.50,000.
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
Verbal Reasoning
Question & Answer Quiz
Non Verbal Reasoning
Question & Answer Quiz
Quantitative Aptitude
Question & Answer Quiz
Computer MCQ
Question & Answer Quiz
General English
Question & Answer Quiz
History GK
Question & Answer Quiz
Polity GK
Question & Answer Quiz
Geography GK
Question & Answer Quiz
Economy GK
Question & Answer Quiz
General Awareness GK
Question & Answer Quiz
Recently Added Subject & Categories For All Competitive Exams
Most Important Antonyms Vocabulary - IBPS Clerk Prelims 2024
Latest Antonyms multiple choice questions and answers with free PDFfor IBPS Clerk Prelims 2024. English Vocabulary practice exercise for all bank exam
Continue Reading »
Syllogism Practice Questions Answers PDF - IBPS Clerk 2024
Practice Verbal Reasoning Syllogism multiple choice questions and answers with Fully solved explanation, PDF for the IBPS Clerk Prelims 2024 Bank Exam
Continue Reading »
IBPS Clerk Prelims 2024 Synonyms Questions Solved Answers
Most important IBPS Clerk Prelims 2024 Synonyms and Antonyms multiple choice questions and answers with detailed solutions, English vocabulary PDF Download
Continue Reading »
New Cloze Test Questions and Answers PDF - IBPS Clerk 2024
The most important Cloze Test questions with detailed answers for upcoming IBPS Clerk prelims 2024. Latest English verbal ability practice MCQs, PDF
Continue Reading »