Economy - Multiple Choice Questions (MCQs) – Page 3

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Recent MCQs

Direct Tax Code in India is related to which of the following?

  1. Sales Tax
  2. Income Tax
  3. Excise Tax
  4. Service Tax
Economy

Which of the following is not an economic activity?

  1. Farming
  2. Service
  3. Voluntary Social Service
  4. Transportation
Economy

Given below are two statements, one is labeled as Assertion (A) and the other as Reason (R).

Assertion (A): During the 20th century, poverty and poor people have become the subject of our concern and duty,
Reason (R) : Strategically there was lack of targeted actions due to which this issue got momentum.

Select the correct answer from the code given below :
Code:

  1. (A) is false but (R) is true
  2. (A) is true but (R) is false
  3. Both (A) and (R) are true but (R) is not the correct explanation of (A)
  4. Both (A) and (R) are true and (R) is the correct explanation of (A)
Economy

At present the share of agriculture in the Gross Domestic Product of India is in the range of:

  1. 10-15 per cent
  2. 16-20 per cent
  3. 21-25 per cent
  4. 26-30 per cent
Economy

Consider the following statements about farm subsidies in India.

1. The input subsidies in India, such as on fertilizers fall under indirect farm subsidies.
2. Reduction in power and irrigation bills offered to farmers fall under direct farm subsidies.
3. The agricultural provisions of the World Trade Organization (WTO) though allow direct farm subsidies, prohibit indirect subsidies.
4. All subsidies provided by the governments in India fall under the indirect subsidies.

Select the correct statements using the code given below.
Code :

  1. 1 and 4
  2. 3 and 4
  3. 2 and 3
  4. 1 and 2
Economy

Who prepares/publishes the Global Multidimensional Poverty Index (MPI) report?

1. World Bank and International Monetary Fund (IMF)
2. Oxford Poverty and World Health Organisation (WHO)
3. Oxford Poverty and Human Development Initiative (OPHI)
4. United Nations Development Programme (UNDP)

Select the correct answer from the codes given below:

  1. 2 and 4
  2. Only 4
  3. 1 and 4
  4. 3 and 4
Economy

Indian rupee has been made fully convertible on:

  1. Current account on March 1, 1993
  2. Current account in August, 1994
  3. Capital account in August, 1994
  4. Current account in April, 1995
Economy

Which of the following statements in relation to Bombay Stock Exchange, is correct?

  1. It is the oldest stock exchange of India
  2. It is known by the name of Dalai Street
  3. It's share index is known by the name of SENSEX
  4. All of the-above
Economy

Headline inflation refers to the change in value of all goods on the basket. On which basis is the headline inflation measured ?

  1. Wholesale Price Index
  2. Consumer Price Index for Industrial Worker
  3. Combined Consumer Price Index
  4. Urban Consumer Price Index
Economy

Consider the following statements and select the correct answer from the code given below:

Assertion(A): The present Government of Uttar Pradesh is focussing on development of industry, infrastructure, energy generation etc.
Reason(R): Heavy investment facilitates economic development.

Codes:

  1. Both (A) and (R) are true and (R) is correct explanation of (A).
  2. Both (A) and (R) are true, but (R) is not the correct explanation of (A).
  3. (A) is true, but (R) is false.
  4. (A) is false, but (R) is true.
Economy

Which among the following are the sources of current revenue for the Central Govt?

I. Corporate Tax
II. Profit from Public Enterprises
III. Sale of National Savings Certificates
IV. Loans received from the World Bank
V. Excise duties

Select the correct answer from the codes given below:
Codes:

  1. I, II and III
  2. II, III and IV
  3. III, IV and V
  4. I, II and V
Economy

Which of the following taxes does not directly increase the price of a commodity to buyers:

  1. Income Tax
  2. Trade Tax
  3. Import Duty
  4. Excise Duty
Economy

In which Five year Plan, the main objective was the eradication of poverty?

  1. Fourth Five year plan
  2. Fifth five year plan
  3. Sixth five year plan
  4. Seventh five year plan
Economy

Malthus argued that the population grows is a ……. progression, while agricultural production/food supply grows in a ……… progression. From the following options, choose the correct answer to fill in the blanks:

  1. Linear, Exponential
  2. Exponential, Linear
  3. Arithmetic, Geometric
  4. Geometric, Arithmetic
Economy

United Nations Development Programme (UNDP) has identified following categories of poverty. Which one is correct?

  1. Income poverty
  2. Human poverty
  3. Both (a) and (b)
  4. None of the above
Economy

Which among the following products is not usually exported from India?

  1. Wheat
  2. Rice
  3. Sugar
  4. Pulses
Economy

The Indian planned economy is based:

  1. On Gandhian system
  2. On the Socialist system
  3. On Capitalist system
  4. On Mixed economy
Economy

The largest item of public expenditure in the Union Budget in recent years has been:

  1. Defence expenditure
  2. Interest payments
  3. Major subsidies
  4. Capital expenditure
Economy

A group formed by India, Brazil, China and other developing countries for future negotiations at WTO is known as:

  1. G-77
  2. G-55
  3. G-22
  4. G-11
Economy

Match List – I with List – II and select the correct answer from the code given below the lists.
List – I (Person) – List – II (Concerned with)

A. M. S. Swaminathan – 1. Social control on Banks
B. L. K. Jha – 2. Milk Production
C. Verghese Kurien – 3. Green Revolution
D. Morarji Desai – 4. Economic Administration Reforms

Code :

  1. 4 1 3 2
  2. 2 3 4 1
  3. 3 4 2 1
  4. 1 2 4 3
Economy

Consider the following statements and select the correct answer using the code given below:

Assertion (A): Educated unemployment increases with high rate of economic growth.
Reason (R): It happens only when there is lack of professional education.

Code:

  1. Both A and R are correct and R is the correct explanation of A
  2. Both A and R are correct but R is not the correct explanation of A
  3. A is true but R is false
  4. A is false but R is true
Economy

The importance of agriculture in the Indian economy is known by which of its following contribution?

  1. National income and employment
  2. Industrial development and international trade
  3. Food supply
  4. All of the above
Economy

Which of the following methods has/have been used to estimate poverty in India ?

1. Head Count Ratio
2. Calorie intake
3. Household Consumption Expenditure
4. Per Capita Income

Select the correct answer from the codes given below.
Codes :

  1. 2 and 3
  2. 1, 2 and 3
  3. 3 only
  4. 1, 2, 3 and 4
Economy

Which of the following statements is not true of the Indian Economy?

  1. Its share of world population is only ~17% but its share of world GDP is ~3.5%.
  2. The share of service sector in India's GDP is only 25%
  3. 45% of its working population is engaged in agriculture, but the contribution of agriculture to the national income is ~15%
  4. India occupies only 2.4% of the world's geographical area.
Economy