macro fundamentals, GDP, investment & growth section 4 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
- Real GDP has steadily increased in the last decade
- GDP at current market prices has steadily increased in the last decade
(a) Both (i) & (ii)
(b) (ii) only
(c) (i) only
(d) Neither (i) nor (ii)
The correct answers to the above question in:
Answer: (a)
Real GDP (i.e. GDP at constant market prices) and Nominal GDP (i.e. GDP at current market prices) both have steadily increased in the last decade (in fact in the last 30 years) but the growth rate of Real GDP and Nominal GDP has fluctuated and has not increased steadily in the last decade.
Refer the Trends
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Question : 1
‘Super Rice’ was developed by
a) G.S. Khush
b) M.S. Swaminathan
c) P.K. Gupta
d) N.E. Borlaug
Answer »Answer: (a)
Question : 2
Consider the following statements regarding the services trade of India:
- Value of export of services is equal to merchandise exports
- India services trade is steadily in surplus in the last decade
a) Both (i) & (ii)
b) (ii) only
c) (i) only
d) Neither (i) nor (ii)
Answer »Answer: (b)
India’s services exports are around 7.7% of GDP in 2018-19, while merchandise exports are around 12.1% of GDP.
India’s services imports are around 4.6% of GDP in 2018-19. India’s services trade has been consistently in surplus for the last decade.
Refer the Trends
Question : 3
Consider the following statements:
- Decrease in investments will lead to depletion of capital stock in the economy
- A decrease in investments will lead to an increase in the incremental capital-output ratio
- A decrease in investments will lead to a decrease in the production of goods and services
a) (i) & (iii) only
b) (ii) only
c) (i) only
d) None of the above
Answer »Answer: (d)
If investments are decreasing that means there is less production of capital goods in the economy but that does not mean that the existing capital stock will decrease. The existing capital stock will keep on increasing even if investments are decreasing. So, (i) statement is false.
And since existing capital stock will keep on increasing, therefore production of goods and services i.e. GDP will keep on increasing. So, (iii) statement is false.
If investments are decreasing, that means the production of capital goods is decreasing. Then you can’t say anything about the productivity of capital i.e. ICOR.
So, (ii) stamen is also false.
Question : 4
Which of the following are the objectives of the commission for Agricultural costs and prices (CACP)?
- To stabilise agricultural prices.
- To ensure meaningful real income levels to the farmers.
- To protect the interest of the consumers by providing essential agricultural commodities at reasonable rates though public distribution system.
- To ensure maximum price for the farmer.
a) 1, 2 and 4
b) 1, 2 and 3
c) 2, 3 and 4
d) 2, 3 and 4
Answer »Answer: (b)
Question : 5
Green revolution had the greatest impact on
a) Maize
b) Rice
c) Wheat
d) Barley
Answer »Answer: (c)
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