OM SAI RAM
INDIAN ECONOMICS
1. The standard of living in a country is respresented by its-
(a) Per capita income (b)National income
(c) Poverty ratio (d) Unemployment rate
2. Human Development Index was developed by the-
(a) UNO (b) UNDP
(c) WTO (d) World Bank
3. National Income is
(a) NNP at factor cost (b) NDP at factor cost
(c) NNP at market prices (d) NDP at market prices
4. The per capita income is obtained by:
(a) Summing up the income of all the citizens of the country
(b) Dividing national income by the population
(c) Estimating the minimum income of individual citizens
(d) Dividing the total national capital with the profit earned
5. To evaluate NNP at factor cost we deduct.
(a) NIT (b) NFIA
(c) NDP FC (d) DGP FC
6. Which of the following is not a method of estimating national income?
(a) Income method (b) Export-import method
(c) Value-added method (d) Expenditure method
7. NDP does not include:
(a) Payment made for income taxes (b) Undistributed profits
(c) Depreciation allowances (d) Net exports
8. Which of the following is not correct?
(a) GNP = NNP + Depreciation
(b) Saving + Taxes = Investment + Government Spending
(c) Personal Income = Disposable Income + Direct Taxes
(d) NNP + Indirect Taxes = National Income
9. Net factor income from abroad added to GDP gives:
(a) GNP (b) NNP
(c) NDP (d) Per capita income
10. Human well-being is measured by:
(a) CPI : Consumer price Index (b) HRI : Human Resource Index
(c) HDI : Human Development Index (d) HSBI : Human Socio-Benefit Index
11. As per latest report of UNDP, India’s ranking is _______ out of the 177 counties.
(a) 120th rank (b) 125th rank
(c) 127th rank (d) 131st rank
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12. The National income of India is estimated by the-
(a) NCAER (b) Indian Statistical Institute
(c) Planning Commission (d) Central Statistical Organisation
13.______ Sector contributes most towards national income
(a) Primary sector (b) Secondary sector
(c) Service sector (d) None of the above
14. The maximum number of people in India work in the
(a) Primary Sector (b) Secondary sector
(c) Tertiary Sector (d) None of the above
15. Which of the following is the apex bank for agriculture credit in India?
(a) RBI (b) NABARD
(c) IDBI (d) ICICI
16. ‘‘Mining’’ are included in the
(a) Primary Sector (b) Secondary sector
(c) Tertiary Sector (d) None of the above
17. Contracting the role of public sector and encouraging the private sector expansion is the policy of
(a) Liberalization (b) Globalization
(c) Privatization (d) None of these
18. Agricultural marketing in India has certain defects which do not include:
(a) Inadequate transport facilities (b) Lack of standard measures and weights
(c) Agricultural produce not being properly graded (d) Insufficient price incentives by the government
19. Who is the originator of Green Revolution in India?
(a) Norman E. Borlaug (b) M.S. Swaminathan
(c) Garry Backer (d) None of these
20. The success of the Green Revolution does not require:
(a) Adequate irrigation facilities (b) Availability of high yielding seeds
(c) Pesticides and chemical fertilizers (d) Large scale mechanization
21. As a result of the New Industrial Policy, 1991 ;
(a) The public sector has been stripped off all its power
(b) The public sector has been given the commanding heights of the economy
(c) The public sector’s portfolio will be reviewed with greater realism. The focus will be on strategic high tech
and essential infrastructure Industries.
(d) The public sector’s management has been passed over to the private sector
22. At present there are only _______ industries for which licensing is compulsory.
(a) 18 (b) 5
(c) 10 (d) 9
23. The difference between visible exports and visible imports is defined as:
(a) Balance of trade (b) Balance of payment
(c) Balance terms of trade (d) all the above
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24. Low productivity of agriculture in India is not caused by:
(a) Inadequate availability of inputs (b) Subdivision of land holdings
(c) Less area under cultivation (d) Poor finance facilities
25. Which is not the main feature of economic reforms?
(a) Liberalization (b) Privatization
(c) Planned economy (d) Globalization
26. When does the problem of unfavourable balance of payment arise?
(a) When exports decrease (b) when exports increase
(c) when imports increase (d) when imports are greater than exports
27. Disinvestment was done in
(a) Public sector (b) Private sector
(c) Joint sector (d) None of the above
28. ‘ Devaluation’ means:
(a) Converting rupee into gold
(b) Lowering of the value of one currency in comparison to some foreign currency
(c) Making rupee dearer in comparison to some foreign currency
(d) None of these
29. Special Economic Zones (SEZ) have been created first time in the
(a) EXIM policy, 2000 (b) EXIM policy, 2005
(c) Industrial policy, 1956 (d) Industrail policy, 1991
30. Poverty Gap is :
(a) The difference between poverty line and actual income levels of all those living below that line
(b) Gap between the rich and the poor
(c) Gap between developed nations and developing nations
(d) Gap in infrastructural facilities between developed and developing nations.
31. In India, we are more concerned with _______ poverty.
(a) Absolute (b) Relative
(c) Both (a) and (b) (d) None of the above
32. Unemployment in India is due to
(a) Poor manpower planning (b) Population explossion
(c) Inappropriate educational system (d) All of these
33. The type of unemployment mostly found in India can be characterised as:
(a) Structural (b) Frictional
(c) Cyclical (d) Disguised
34.Unemployment which occurs when workers move from one job to another job is known as :
(a) Seasonal unemployment (b) Frictional unemployment
(c) Cyclical unemployment (d) Technological unemployment
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35.The Food for work programme was renamed as
(a) Rural Landless Employment Guarantee programme (RLEGP)
(b) National Rural Employment programme (NREP)
(c) Jawahar Rozgar Yojana (JRY)
(d) Integrated Rural Development Programme (IRDP)
36. MGNREGA was stared in
(a) 2008-09 (b) 2001-02
(c) 2003-04 (d) 2006-07
37. The components of HDI is /are
(a) Life expectancy index (b) Infant mortality rate
(c) Population growth rate (d) All of the above
38. If we subtract depreciation of capital from the gross National product at factor cost, we get
(a) Net National product at market price (b) Net National product at factor cost
(c) Real National product (d) Nominal Natioanal product
39. Which among the following is not considered when the national income is estimated?
(a) The profit of joint stock companies
(b) The market price of the factors used in the production which is owned by the entrepreneur
(c) Income of the self employed people
(d) Transfer earning
40. If Gross Domestic product is subtracted from gross national product then we will get
(a) Net factor earning of the national factors of production from the external countries
(b) Depreciation cost
(c) Net indirect tax
(d) Operational surplus
41. The growth of service sector in Indian economy is
(a) The sign of development (b)Not the sign of development
(c) May not be the sign of development (d) May be the sign of development
42. As a result of green revolution in Indian agriculture
(a) Regional disparity in agricultural production is observed
(b) Inequality of the distribution of income among the farmers is resulted
(c) Disparity among the pattern of the food crops production is seen
(d) All of the above
43. Which of the following is the part of the institutional reforms in Indian agriculture?
(a) Use of high yielding variety of seed (b) Cultivation with improved technology
(c) Abolition of zamindary system (d) Application of chemical fertilizers
44. Which type of the following industries were emphasised in India during the second five Year plan
(1956-61) ?
(a) Rural small scale industries (b) Heavy iron and steel industries
(c) Textile industries (d) Jute industries
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45. What percentage of India’s population lives under poverty lines?
(a) 40% (b) 35%
(c) 15% (d) 20%
46. The new economic reforms took place in
(a) 1985 (b) 1991
(c) 2001 (d) 2008
47. By the recommendations of which committee under the guidance of Ministry of Finance of the
government of India in the year 1999 the Insurance Regulatory and Development Authority (IRDA) was
established for the purpose of regulating the insurance system of the country?
(a) Narasimham committee (b) Malhotra committee
(b) Raja chellish committee (d) Rangarajan committee
48. Gross Domestic product at factor cost (GDPFC) can be derived from the gross domestic product at market
piece (GDPMP) by the following method:
(a) GDPFC = GDPMP – subsidies + indirect tax
(b) GDPFC = GDPMP – indirect tax + subsidies
(c) GDPFC = GDPMP + Net earnings of the National factors of production from the external countries
(d) GDPFC = GDPMP + Consumption of fixed capital
49. The relationship between Nross National Product (NNP) and the Nross Domestic Product (NDP) is
(a) NNP = NDP – consumption of fixed capital
(b) NNP = NDP + Depreciation cost
(c) NNP = NDP + Net factor earnings of the National factors from the external countries
(d) NNP = NDP – Net factor earnings of the National factors from the external countries
50. If in a country for a particular Year the nominal gross domestic product is ₹ 50,000 and the real gross
domestic product is ₹ 40,000, then the GDP deflator will be
(a) 80 (b) 125
(c) 90,000 (d) 10,000
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