macro fundamentals, GDP, investment & growth section 3 Practice Questions Answers Test with Solutions & More Shortcuts
Macro fundamentals, GDP, Investment, Growth PRACTICE TEST [4 - EXERCISES]
macro fundamentals, GDP, investment & growth section 1
macro fundamentals, GDP, investment & growth section 2
macro fundamentals, GDP, investment & growth section 3
macro fundamentals, GDP, investment & growth section 4
Question : 17
Which of the following constitutes an investment in the economy?
- Production of consumption goods
- Production of capital goods
- Production of services
- Buying and selling of shares
a) (ii) & (iv) only
b) (ii) only
c) (i) & (ii) only
d) All of the above
Answer »Answer: (b)
The value of capital goods produced is defined as investment.
Hence, the production of consumption goods and services are not investment. Buying and selling shares from one person to another person is also not an investment for the economy as only the ownership changes and nothing happens on the ground.
So, only (ii) statement is true.
Question : 18 [UPSC (Pre) 2018]
Consider the following statements.
- In India, State Governments do not have the power to auction non-coal mines.
- Andhra Pradesh and Jharkhand do not have gold mines.
- Rajasthan has iron ore mines.
a) Only 2
b) Only 1 and 2
c) Only 3
d) Only 1 and 3
Answer »Answer: (c)
Question : 19
The visit of foreigners in India to see the various places/events in the country, amounts to which of the following in terms of economy:
a) Import
b) Consumption
c) Production
d) Export
Answer »Answer: (d)
Exports means produced within the country and sold to foreigners (or non-residents). If a foreigner is coming to India and then purchasing goods and services, then it is a case of exports.
In the same way, if a foreigner is coming to India for medical treatment or tourism then the foreigner is basically purchasing medical and tourism services produced in our country.
So, the best possible answer is exports.
Question : 20 [UPSC (Pre) 2018]
Consider the following statements.
- The Food Safety and Standards Act, 2006 replaced the Prevention of Food Adulteration Act, 1954.
- The Food Safety and Standards Authority of India (FSSAI) is under the charge of Director General of Health Services in the Union Ministry of Health and Family Welfare.
a) Only 2
b) Only 1
c) Neither 1 nor 2
d) Both 1 and 2
Answer »Answer: (b)
IMPORTANT indian economy mcq EXERCISES
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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
-
» Banking, Security Market & Insurance
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