introduction to indian economy section 5 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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introduction to indian economy section 14
Question : 26
If it will be true to classify India as
a) a trade-surplus economy
b) a food-deficit economy
c) a labour-surplus economy
d) a capital-surplus economy
Answer »Answer: (c)
India is a labour-surplus economy because in India there is disguised unemployment along with underemployment which means that qualified, skilled workforce willing to work is available but there are not enough employment opportunities.
Question : 27 [SSC CGL Pre 2007]
The total number of nationalised banks in India is
a) 19
b) 14
c) 21
d) 30
Answer »Answer: (c)
The Government of India issued an ordinance (‘Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969’)) and nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969.
These banks contained 85 per cent of bank deposits in the country. A second dose of nationalization of 6 more commercial banks followed in 1980. As of now, there are 26 Nationalized Banks in India.
Note: As of 2017, There are 21 Nationalized Bank in India. These are Allahabad Bank, Andhra Bank, Bank of India, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Indian Bank, Indian Overseas Bank, IDBI Bank, Oriental Bank of Commerce, Punjab & Sindh Bank, Punjab National Bank, State Bank of India, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Bank.
Question : 28
Per capita Income of a country is derived from
a) Population
b) None of these
c) National Income and population both
d) National Income
Answer »Answer: (c)
The per capita income of a country is derived from both National income and population both. Per capita income is obtained by dividing national income by the total population of the country. Per capita income, also known as income per person, is the mean income of the people in a country.
It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross national income) and dividing it by the total population.
Question : 30 [SSC CPO 2004]
Which one of the following taxes is collected and utilized by the State Governments ?
a) Custom duties
b) Corporation tax
c) Land revenue
d) Personal income tax
Answer »Answer: (c)
The Constitution allocates the taxation of agricultural income to states. Lan revenue is a major source of revenue for states in India.
For purpose of revenue management, a State is divided into various districts, each in the charge of a Deputy Commissioner, also known as Collector indicating his responsibility for the realization of all Government revenues.
IMPORTANT indian economy mcq EXERCISES
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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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