introduction to indian economy section 1 MCQ Questions & Answers Detailed Explanation

Answer: (d)

National Income is the money value of all goods and services produced in a country during a year. The income method of the calculation of National Income adds up all incomes received by the factors of production generated in the economy during a year.

This includes wages from employment and self-employment, profits to firms, interest to lenders of capital and rents to owners of the land.

Answer: (d)

National Heritage City Development and Augmentation Yojana (HRIDAY) was launched on 21 January 2015 with the aim of bringing together urban planning, economic growth and heritage conservation in an inclusive manner to preserve the heritage character of each Heritage City.

The Scheme shall support the development of core heritage infrastructure projects for heritage assets such as monuments, Ghats, temples etc. along with reviving certain intangible assets.

Answer: (b)

Per capita income or average income or income per person is the mean income within an economic aggregate, such as a country or city.

It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross National Income) and dividing it by the total population.

Answer: (b)

Higher growth in GDP and population can occur together. Per capita income always decreases with high population growth as income per person decreases with rise in population.

Answer: (c)

The slack season in the Indian economy is JanJune.

Answer: (a)

The Securities and Exchange Board of India (SEBI) is the designated regulatory body for the finance and investment markets in India.

It was established in the year 1988 and given statutory powers on 30 January 1992 through the SEBI Act, 1992. It is an autonomous body.