national income & human development index section 1 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 5 EXERCISES
The following question based on National Income & Human Development Index topic of indian economy mcq
- If a country is experiencing an increase in its per capita GDP, its GDP must necessarily be growing.
- If a country is experiencing negative inflation its GDP must be decreasing.
(a) Only 2
(b) Only 1
(c) Both 1 and 2
(d) Neither 1 nor 2
The correct answers to the above question in:
Answer: (b)
Negative Inflation is a decrease in price level and economic growth is defined as GDP rise. A decrease in inflation means the prices have fallen.
So, there is an increase in purchasing power of money. It is increased consumption therefore GDP increases.
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Read more national income human development index Based Indian Economy Questions and Answers
Question : 1
The concept of Economic Planning in India is derived from which country?
a) UK
b) USA
c) Russia
d) France
Answer »Answer: (c)
The concept of Economic planning in India is derived from Russia.
Question : 2
The national income of a country for a given period is equal to the
a) Sum of total consumption and investment expenditure
b) Total value of goods and services produced by the nationals
c) Money value of final goods and services produced
d) Sum of personal income of all individual
Answer »Answer: (c)
Question : 3
Planning was considered a prerequisite :
- For balanced socio-economic development
- For extending the benefits of development in an even manner.
- For focussing on removal of regional disparities
- For maximizing the utilization of available resources
a) 1, 2 and 3
b) 1 and 2
c) 2, 3 and 4
d) All the above
Answer »Answer: (d)
Planning was considered for balanced socio-economic development to focus on removal of regional disparities and maximizing the utilization of available resources.
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