introduction to indian economy section 13 MCQ Questions & Answers Detailed Explanation

Answer: (c)

Answer: (c)

GNP is the total value of all final goods and services produced within a country in a particular year, plus income earned by its citizens (including income of those located abroad), minus income of non-residents located in that country.

GNP measures the value of goods and services that the country’s citizens produced regardless of their location.

Answer: (d)

Punjab National Bank, National Thermal Power Corporation Ltd, New Delhi, and Bharat Petroleum Corporation Ltd. were awarded the Golden Peacock Award 2002 for Excellence in Corporate Governance (GPAECG).

Golden Peacock Awards, instituted by the Institute of Directors in 1992, are now regarded as the holy grail of Corporate Excellence worldwide.

All institutions whether public, private, non-profit, government, business, manufacturing and service sector are eligible to apply.

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.

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.

Answer: (d)

The Government of India in February 2000, announced the National Population Policy (NPP) with the objectives,

1. The immediate objective is to address the unmet needs for contraception, health care infrastructure and basic reproductive and child health care.
2. The medium-term objective is to bring the Total Fertility Rate (TFR) to replacement levels of 2.1 by 2010.
3. 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.