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) Some financial choice are taken by authorities and different are left to market forces
(b) All financial determinations are taken based mostly on the demand and provide forces
(c) Government has full handle over the exclusive sector
(d) Economic judgements are taken after maintaining in view the social welfare
The correct answers to the above question in:
Answer: (b)
Market-based economic climate refers back to the financial system the place all financial judgements are taken based mostly on the demand and provide circumstances prevailing out there.
Government has minimal interference in financial actions. Private gamers are free to supply the items and expertise based mostly on the demand and provides alerts out.
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Read more national income human development index Based Indian Economy Questions and Answers
Question : 1
Which one of the following is not included in the Agriculture and Allied Services of Indian Economy?
a) Forestry
b) Fishing
c) Logging
d) Food Processing
Answer »Answer: (d)
Agriculture (crops) and allied sectors are like forestry, logging and fishing. Food processing is not included in the Agriculture and allied services of Indian Economy.
Question : 2
Which of the following statements is not true of the Indian Economy?
a) The share of service sector in India’s GDP is only 25%
b) Its share of world population is only 16%, but its share of world GDP is 1.6%
c) India occupies only 2.4% of the world’s geographical area
d) 58% of its working population is engaged in agriculture, but the contribution of agriculture to the national income is 22%
Answer »Answer: (a)
Question : 3
While calculating HDI, the maximum value and minimum value for life expectancy at birth (years) are taken as
a) 85 and 25
b) 100 and 25
c) 80 and 20
d) 90 and 30
Answer »Answer: (a)
Question : 4
Who estimated national income in India first?
a) R.C. Dutt
b) Dadabhai Naoroji
c) V.K. R.V. Rao
d) D.R. Gadgil
Answer »Answer: (b)
Dadabhai Naoroji had estimated national income in India first. National income estimate before independence was prepared by Dadabhai Naoroji in 1876.
He estimated national income by estimating the value of agricultural production and then adding some percentage of non– agricultural production. This method was non–scientific.
VKRV Rao - The first person to adopt a scientific procedure postmating the national income was Dr VKRV Rao in 1931.
R.C. Dutt - He was an Indian civil servant, economics, historian, writer and translator of Ramayan & Mahabharat. D.R. Gadgil - A social scientist and the first critic of Indian planning.
Question : 5
Consider the following statements. Human capital formation as a concept is better explained in terms of a process which enables
- individuals of a country to accumulate more capital.
- increasing the knowledge, skill levels and capacities of the people of the country.
- accumulation of tangible wealth.
- accumulation of intangible wealth.
a) 2 and 4
b) 1 and 2
c) 1, 3 and 4
d) Only 2
Answer »Answer: (a)
Question : 6
The Hindu rate of growth refers to the growth rate of
a) National Income
b) Per Capita Income
c) Literacy
d) Population
Answer »Answer: (a)
GET National Income & Human Development Index PRACTICE TEST EXERCISES
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