macro fundamentals, GDP, investment & growth section 3 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 4 EXERCISES
The following question based on Macro fundamentals, GDP, Investment, Growth topic of indian economy mcq
- Increasing
- Growth rate increasing
- Growth rate decreasing
- Stagnant
(a) (i) & (iii) only
(b) (i) & (ii) only
(c) (i) only
(d) (iv) only
The correct answers to the above question in:
Answer: (a)
Since last five/six quarters GDP growth is decreasing, while GDP is still increasing.
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Question : 1
Who was the person not associated with the Green Revolution when it started in India?
a) C. Subramaniam
b) M.S. Swaminathan
c) Rafi Ahmed Kidwai
d) Indira Gandhi
Answer »Answer: (c)
Question : 2
Import procedure begins with
a) Marine insurance
b) Mate’s receipt
c) Shipping bill
d) Indent
Answer »Answer: (d)
Question : 3
‘Operation Flood’ is associated with
a) Irrigation Project
b) Flood control
c) Milk production and distribution
d) Storage of food grains
Answer »Answer: (c)
Question : 4
Which of the following statements could be true for a high savings economy?
- Higher investment
- Higher consumption
- Higher exports
a) (ii) & (iii) only
b) (i) & (iii) only
c) (i) & (ii) only
d) All of the above
Answer »Answer: (b)
“Exports must form an integral part of the investment led growth model because higher savings preclude/prevents domestic consumption as the driver of final demand”. [Ref: Economic Survey 2018-19, Vol – I, Page 1] For detailed understanding, you can refer the book on Indian Economy by Vivek Singh.
Question : 5
Consider the following statements.
- The Food Safety and Standards Act, 2006 replaced the Prevention of Food Adulteration Act, 1954.
- The Food Safety and Standards Authority of India (FSSAI) is under the charge of Director General of Health Services in the Union Ministry of Health and Family Welfare.
a) Only 2
b) Only 1
c) Neither 1 nor 2
d) Both 1 and 2
Answer »Answer: (b)
Question : 6
The visit of foreigners in India to see the various places/events in the country, amounts to which of the following in terms of economy:
a) Import
b) Consumption
c) Production
d) Export
Answer »Answer: (d)
Exports means produced within the country and sold to foreigners (or non-residents). If a foreigner is coming to India and then purchasing goods and services, then it is a case of exports.
In the same way, if a foreigner is coming to India for medical treatment or tourism then the foreigner is basically purchasing medical and tourism services produced in our country.
So, the best possible answer is exports.
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