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) 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
The correct answers to the above question in:
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
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Question : 1
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 : 2
Which of the following is definitely a major indication of the state of the economy of a country?
a) Rate of inflation
b) Rate of GDP growth
c) Number of banks in a country
d) None of these
Answer »Answer: (b)
Rate of GDP growth is a major indication of the state of the economy of a country. Economic growth is the increase in the market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in gross domestic product.
Question : 3
Consider the following statements:
- Kerala had highest HDI in 2012.
- It was around 0.92 in the year 2012 for achieving highest literacy rate, quality health services and consumption expenditure of people.
a) 1 and 2
b) 2 only
c) 1 only
d) None
Answer »Answer: (a)
The Human Development Index (HDI) is a composite statistic of life expectancy, education, and income used to rank states.
Among the given states, Kerala was having the highest Human Development Index around 0.92 in the year 2012 for achieving the highest literacy rate, quality health services and consumption expenditure of people.
Question : 4
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 : 5
The first measure of India’s National Income was made by
a) Dadabhai Naoroji
b) William Digby
c) V.K.R.V. Rao
d) M.G. Ranade
Answer »Answer: (a)
Question : 6
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)
GET National Income & Human Development Index PRACTICE TEST EXERCISES
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