introduction to indian economy section 1 Practice Questions Answers Test with Solutions & More Shortcuts
Introduction to Indian Economy PRACTICE TEST [14 - EXERCISES]
introduction to indian economy section 1
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Question : 46 [SSC GL 2013]
Tick the correct option with regards to the contribution towards GDP (Gross Domestic Product) from Agriculture
a) During 1950-51 (GDP 11-00%) and 2011-12 (GDP 25%)
b) During 1950-51 (GDP 51-88%) and 2011-12 (GDP 14-01%)
c) During 1990-91 (GDP 29-53%) and 2011-12 (GDP 66-77%)
d) During 1980-81 (GDP 35-69%) and 2011-12 (GDP 20-69%)
Answer »Answer: (b)
Agriculture contributed more than 50 per cent of India’s GDP in 1950-51.
The contribution of agriculture and allied sectors to India’s GDP has been declining since then. Agriculture’s contribution fell down to 14.5 per cent in 2010-11 and to 14.1 per cent in 2011-12.
Question : 47
In free economy, inequalities in income is due to
a) private property and inheritance
b) private property only
c) differences in the marginal productivity of labour
d) free competition
Answer »Answer: (a)
In free economy, inequalities in income is due to private property and inheritance.
Question : 48
Among the socio-economic factors responsible for the high birth rate in India we may include
- large scale poverty
- high mortality rate of children of poor parents
- prevalence of child marriage
- adverse sex ratio
a) 1, 2 and 4
b) 2, 3 and 4
c) 1 and 2
d) 1, 2 and 3
Answer »Answer: (c)
Question : 49 [SSC CGL 2000]
Structural unemployment arises due to :
a) inadequate productive capacity
b) heavy industry bias
c) shortage of raw materials
d) deflationary conditions
Answer »Answer: (a)
Structural unemployment is a form of unemployment resulting from a mismatch between demand in the labour market and the skills and locations of the workers seeking employment.
Structural unemployment is a result of the dynamics of the labour market, such as agricultural workers being displaced by mechanized agriculture, unskilled labourers displaced by both mechanization and automation, or industries with declining employment.
Many of these displaced workers are “left behind” due to costs of training and moving (e.g., the cost of selling one’s house in a depressed local economy), inefficiencies in the labour markets, such as discrimination or monopoly power, or because they are unsuited for work in growing sectors such as health care or high technology.
Question : 50
GDP deflator is used to :
a) measure the inflation in a country.
b) compare the GDP of a country vis a vis other countries of the world.
c) measure the relative reduction in GDP growth rate of a country.
d) estimate the purchasing power of the citizen of a country.
Answer »Answer: (a)
GDP deflator is An economic metric that accounts for inflation by converting output measured at current prices into constant-dollar GDP. The GDP deflator shows how much a change in the base year’s GDP relies upon changes in the price level.
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Introduction to Indian Economy Shortcuts »
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indian economy MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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