national income & human development index section 2 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
(a) Asian Development Bank
(b) World Bank
(c) International Labour Organisation
(d) International Monetary Fund
The correct answers to the above question in:
Answer: (d)
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Read more national income human development index Based Indian Economy Questions and Answers
Question : 1
It will be true to classify India as
a) a labour-surplus economy
b) a food-deficit economy
c) a trade-surplus economy
d) a capital-surplus economy
Answer »Answer: (a)
India is a labour-surplus economy because in India there is disguised unemployment along with under-employment which means that a qualified, skilled workforce willing to work is available but there are not enough employment opportunities.
Trade Surplus Economy - Economic measure of positive Balance of trade where a country’s export exceed its imports. Surplus Labour is a concept used by Karl Marx in his critique of political economy.
Capital Surplus - It is equity that cannot otherwise be classified as capital stock or retained earnings.
Question : 2
The economist who for the first time scientifically determined National Income in India
a) V.K.R.V. Rao
b) D.R. Gadgil
c) Manmohan Singh
d) Y.V. Alagh
Answer »Answer: (a)
The first person to adopt a scientific procedure in estimating the national income was Dr. V.K.R.V Rao in 1931.
Question : 3
Who among the following was the Chairman of National Committee appointed by Government of India in 1949?
a) P.C. Mahalanobis
b) C.R. Rao
c) K.N. Raj
d) V.K.R.V. Rao
Answer »Answer: (a)
Question : 4
The ‘activity rate’ of an economy depends upon so many factors, such as :
- School leaving age
- Popularity of higher education
- Social customs
- Retirement age
a) 2 and 3
b) 1 and 2
c) 2, 3 and 4
d) 1, 2, 3 and 4
Answer »Answer: (d)
The labour force of an economy is known as the activity rate (also called the participation rate).
It is shown in per cent and always as a proportion of an economy. The concept of the ‘demographic dividend’ is related to this rate.
Question : 5
The Government of India has decided to revise the base for estimating the GDP from
a) 2004-05 to 2013-14
b) 2001-02 to 2010-11
c) 2001-02 to 2011-12
d) 2004-05 to 2011-12
Answer »Answer: (d)
Question : 6
ABC Index announced by the Government of India is associated with which of the following?
a) Health
b) Agriculture
c) Education
d) Communication
Answer »Answer: (a)
GET National Income & Human Development Index PRACTICE TEST EXERCISES
national income & human development index section 1
national income & human development index section 2
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