Q641. The Gandhian Plan was expounded in 1944 by
A N.R. Sarkar
B Kasturi Bhai Lal Bhai
C Jai Prakash Narayan
D Shriman Narayan Agarwal
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Correct answer: Shriman Narayan Agarwal
Q642. In India, planned economy is based on
A Gandhian System
B Socialist System
C Capitalist System
D Mixed Economy System
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Correct answer: Mixed Economy System
Q643. What was India’s estimated GDP growth rate for 2018-19 in the Economic survey?
A 6.3% - 7.1%
B 7.2% - 7.5%
C 7% - 7.5%
D 7% - 7.2%
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Correct answer: 7% - 7.5%
Q644. One of the problems in calculating National Income in India is
A Under-employment
B Inflation
C Low level of savings
D Non-monetised consumption
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Correct answer: Non-monetised consumption
Q645. Economic Survey in India is published by
A Ministry of Finance
B Planning Commission
C Ministry of Commerce
D Indian Statistical Institute
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Correct answer: Ministry of Finance
Q646. Which of the following methods is not being used in the unemployment estimation by the NSSO in India?
A Current monthly status
B Current daily status
C Current weekly status
D Usual principal status
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Correct answer: Current monthly status
Q647. National Sample Survey Office (NSSO) was established in the year
A 1950
B 1951
C 1947
D 1948
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Correct answer: 1950
Q648. Which among the following are the factors that determine the national income of a country?
A Quantity and Quality of factors of produced
B The state of technical knowledge
C Economic and Political stability
D All of the above
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Correct answer: All of the above
Q649. When National Income is calculated with reference to a base year, it is called
A Nominal national income
B Real national income
C Net national income
D Gross national income
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Correct answer: Real national income
Q650. The most simple and popular method of measuring economic development is to calculate the trend of Gross National Product (GNP) at
A Current prices
B Constant prices
C Both of the above
D None of the above
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Correct answer: Constant prices
Q651. Which of the following is/are the component(s) of Gross Domestic Capital Formation (GDCF)? 1. Gross Domestic Saving 2. Net Capital Inflow 3. Direct Foreign Investment Choose the correct answer from the codes given below. Code
A Only 1
B Only 2
C Only 3
D Both 1 and 2
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Correct answer: Both 1 and 2
Q652. In an open economy, the National Income (y) of the economy is (C, I, G, X, M, Y stand for Consumption, Investment, Government Expenditure, Total Exports, Total Imports and National Income, respectively). Select the correct answer from the following.
A Y = C + I + G + X
B Y = I + G – X + M
C Y = C + I + G + (X – M)
D Y = C + I – G + (X – M)
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Correct answer: Y = C + I + G + (X – M)
Q653. The term National Income represents
A Gross National Product at market price minus depreciation
B Gross National Product at market price minus depreciation plus net factor Income from abroad
C Gross National Product at market price minus depreciation and indirect tax plus subsidies
D Gross National Product at market price minus net factor income from abroad
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Correct answer: Gross National Product at market price minus depreciation and indirect tax plus subsidies
Q654. National Income is the
A Net National Product at market price
B Net National Product at factor cost
C Net Domestic Product at market price
D Net Domestic Product at factor cost
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Correct answer: Net National Product at factor cost
Q655. Human Development Index (HDI) comprises literacy rates, life expectancy at birth and
A Gross Domestic Product per head in US Dollars
B Gross Domestic Product per head at real purchasing power
C Gross National Product in US Dollars
D National Income per head in US Dollars
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Correct answer: National Income per head in US Dollars
Q656. The growth rate of per capita income at current prices is higher than that of per capita income at constant prices, because the later takes into account the rate of
A growth of population
B increase in price level
C growth of money supply
D increase in the wage rate
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Correct answer: increase in price level
Q657. Which of the following statements is not true of the Indian Economy?
A Its share of world population is only 16%, but its share of world GDP is 1.6%
B The share of service sector in India’s GDP is only 25%
C 58% of its working population is engaged in agriculture, but the contribution of agriculture to the national income is 22%
D India occupies only 2.4% of the world’s geographical area
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Correct answer: The share of service sector in India’s GDP is only 25%
Q658. The Per Capita Income in India was ` 20 in 1867-68 was ascertained for the first time by
A M.G. Ranade
B Sir W. Hunter
C R.C. Dutta
D Dadabhai Naoroji
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Correct answer: Dadabhai Naoroji
Q659. The first measure of India’s National Income was made by
A William Digby
B Dadabhai Naoroji
C M.G. Ranade
D V.K.R.V. Rao
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Correct answer: Dadabhai Naoroji
Q660. Which of the following causes have been mainly responsible for the slow growth of real per capita income in India? 1. Rapid rise in population 2. Rapid rise in prices 3. Slow pace of progress in agriculture and industrial fields 4. Non-availability of foreign exchange Choose the correct answer from the codes given below.
A Only 1 and 2
B Only 1 and 3
C Only 1 and 4
D All of these
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Correct answer: Only 1 and 3