national income & human development index section 3 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) agriculture
(b) service sector
(c) industrial sector
(d) trade sector
The correct answers to the above question in:
Answer: (b)
The service sector is one of the three economic sectors. it includes:
- telecommunication,
- hospitality industry/tourism,
- mass media,
- healthcare/hospitals,
- information technology,
- banking,
- insurance,
- investment management,
- accountancy,
- legal services,
- consulting,
- retail sales,
- real estate, and
- education.
The maximum contribution to national income comes from the service sector which contributes more than 50%.
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Read more national income human development index Based Indian Economy Questions and Answers
Question : 1
The multi-dimensional poverty index of UNDP includes
a) 12 indicators
b) 8 indicators
c) 14 indicators
d) 10 indicators
Answer »Answer: (d)
Question : 2
In India, rural incomes are generally lower than the urban incomes. Which of the following reasons account for this?
- A large no. of farmers are illiterate and know little about scientific-agriculture.
- Prices of primary products are lower than those of manufactured products.
- Investment in agriculture has been lower when compared to investment in industry:
a) 1 and 3
b) 1 and 2
c) 1, 2 and 3
d) 2 and 3
Answer »Answer: (c)
In India, a large no. of farmers are illiterate and know little about scientific agriculture. Prices of primary products are lower than those of manufactured products and investment in agriculture has been lower when compared to investment in the industry.
All these reasons are responsible for lower rural income.
Question : 3
Consider the following statements
- High growth will led to inflation.
- High growth will lead to deflation.
a) Only 2
b) Only 1
c) Both 1 and 2
d) Neither 1 nor 2
Answer »Answer: (b)
Typically, higher inflation is caused by strong economic growth. If Aggregate demand in an economy expanded faster than aggregate supply, we would expect to see a higher inflation rate.
If demand is rising faster than supply, then this suggests that economic growth is higher than the long-run sustainable rate of growth.
Question : 4
Which one of the following is not a method of measurement of National income?
a) Income Method
b) Value Added Method
c) Expenditure Method
d) Investment Method
Answer »Answer: (d)
The investment method is not a method of measurement of National income.
There are three methods of measurement:
- income method,
- product or value-added method and
- the expenditure method.
The investment method is only appropriate if the property is let or operated under a management structure by a third party. Income method - Under this method National income is measured as a flow of factor income.
Question : 5
Which of the following methods is not being used in the unemployment estimation by the NSSO in India?
a) Current daily status
b) Current monthly status
c) Usual principal status
d) Current weekly status
Answer »Answer: (b)
Question : 6
Which one of the following countries has the highest percentage of the services sector in the GDP of the country?
a) France
b) United States
c) United Kingdom
d) Spain
Answer »Answer: (b)
The economy of France is the world’s largest single national economy.
It has the highest percentage of the services sector in the GDP equivalent to 79.8%.
The service sector percentage for India is 56.9%
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