national income & human development index section 4 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) Dadabhai Naoroji
(b) William Digby
(c) V.K.R.V. Rao
(d) M.G. Ranade
The correct answers to the above question in:
Answer: (a)
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Question : 1
The reason in difference between GNP and GDP is
a) Net Foreign Investment
b) Gross Foreign Investment
c) Net Exports
d) Net Factor Income from abroad
Answer »Answer: (d)
NIFA = GNP - GDP
NIFA: refers to the net flow of property income to and from the rest of the world plus the net flow of compensation of employer.
Question : 2
The existence of a parallel economy or black money
a) makes the monetary policies less effective
b) makes the economy more competitive
c) ensure a better distribution of income and wealth
d) ensure increasing productive investment
Answer »Answer: (a)
The existence of a parallel economy or black money makes the monetary policies less effective.
A parallel economy, based on black money or unaccounted money, causes high circulation of money in the market and thus causes inflation etc.
Black Money - Black Money is the proceeds of an illegal transaction on which income and other taxes have not been paid and which can only be legitimised by some form of Money Laundering
Question : 3
From which one of the following enshrined in the constitution, the planning of India derives its objectives and social premises?
a) Fundamental Duties
b) Fundamental Rights
c) Directive Principles of State Policy
d) None of the above
Answer »Answer: (c)
The planning of India derives its objectives and social premises followed by the Directive Principles of State Policy. The Directive Principles of State Policy are guidelines to the central and state governments, to be kept in mind while framing laws and policies.
These provisions, contained in Part IV of the Constitution of India, are not enforceable by any court, but the principles laid down therein are considered fundamental in the governance of the country.
Question : 4
Economic Survey in India is published by
a) Planning Commission
b) Ministry of Finance
c) Indian Statistical Institute
d) Ministry of Commerce
Answer »Answer: (b)
Question : 5
The World Investment Report (WIR) is published by
a) General Agreement on Tariffs on Trade (GATT)
b) International Monetary Fund (IMF)
c) Organisation of Economic Cooperation and Development (OECD)
d) United Nations Conference on Trade and Development (UNCTAD)
Answer »Answer: (d)
Question : 6
National Income is the
a) NNP at factor cost
b) NNP at market price
c) Net Domestic product at market price
d) Net domestic product at factor cost.
Answer »Answer: (a)
National Income is the Net National product at the factor cost.
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