Economy Set 1 MCQs

Economy GK

Economy Set 1 MCQs

Practice Economy GK MCQs on basic economic concepts including economy, economics, microeconomics, macroeconomics, goods and services, demand and supply, factors of production, opportunity cost, economic activities, sectors of economy and other fundamental concepts frequently asked in SSC, Railway, Banking, UPSC, JKSSB, JKPSC, Police, Defence and other competitive examinations.

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Practice Questions

Page 75 of 111
Question #1481
The 'trickle-down theory' of development suggests that benefits of growth:
A. only benefit the government
B. are absent
C. remain only with the rich
D. eventually spread to the poor
Discuss
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Correct Answer: Option D

Explanation:
Trickle-down theory suggests that growth benefits eventually reach the poor.
This question belongs to: Economy GK Economy Set 1
Question #1482
The 'capability approach' to development was propounded by:
A. Milton Friedman
B. Arthur Lewis
C. Amartya Sen
D. W.W. Rostow
Discuss
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Correct Answer: Option C

Explanation:
Amartya Sen propounded the capability approach to development.
This question belongs to: Economy GK Economy Set 1
Question #1483
The 'Human Development Index' was introduced by:
A. UNDP in 1990
B. IMF
C. World Bank
D. UNESCO
Discuss
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Correct Answer: Option A

Explanation:
The Human Development Index was introduced by UNDP in 1990.
This question belongs to: Economy GK Economy Set 1
Question #1484
The 'Multidimensional Poverty Index' uses how many indicators?
A. 12
B. 10
C. 5
D. 20
Discuss
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Correct Answer: Option B

Explanation:
MPI uses 10 indicators across three dimensions.
This question belongs to: Economy GK Economy Set 1
Question #1485
The 'poverty line' in India was historically based on a minimum calorie requirement of:
A. 3000 kcal per person per day
B. 2400 kcal rural and 2100 kcal urban per person per day
C. 1200 kcal per person per day
D. 1800 kcal per person per day
Discuss
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Correct Answer: Option B

Explanation:
The poverty line used calorie norms of 2400 kcal rural and 2100 kcal urban.
This question belongs to: Economy GK Economy Set 1
Question #1486
The 'Tendulkar Committee' was constituted in which year?
A. 2000
B. 2005
C. 2009
D. 2013
Discuss
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Correct Answer: Option B

Explanation:
The Tendulkar Committee was constituted in 2005.
This question belongs to: Economy GK Economy Set 1
Question #1487
The 'Rangarajan Committee' on poverty submitted its report in which year?
A. 2016
B. 2018
C. 2011
D. 2014
Discuss
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Correct Answer: Option D

Explanation:
The Rangarajan Committee on poverty submitted its report in 2014.
This question belongs to: Economy GK Economy Set 1
Question #1488
The 'International Poverty Line' of the World Bank is currently set at:
A. USD 1.00 per day
B. USD 10 per day
C. USD 2.15 per day in 2017 PPP
D. USD 5.50 per day
Discuss
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Correct Answer: Option C

Explanation:
The World Bank's international poverty line is USD 2.15 per day in 2017 PPP.
This question belongs to: Economy GK Economy Set 1
Question #1489
The 'Human Capital Formation' includes investment in:
A. financial assets
B. education, health and training
C. machinery
D. physical infrastructure only
Discuss
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Correct Answer: Option B

Explanation:
Human capital formation involves education, health and training investments.
This question belongs to: Economy GK Economy Set 1
Question #1490
The 'demographic transition' refers to changes in:
A. exchange rates
B. inflation
C. income distribution
D. birth and death rates
Discuss
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Correct Answer: Option D

Explanation:
Demographic transition refers to shifts in birth and death rates as an economy develops.
This question belongs to: Economy GK Economy Set 1
Question #1491
The 'dependency ratio' in demography is defined as:
A. dependent population divided by working-age population
B. elderly population divided by children
C. rural population divided by urban population
D. working-age population divided by dependent population
Discuss
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Correct Answer: Option A

Explanation:
Dependency ratio = dependent population / working-age population.
This question belongs to: Economy GK Economy Set 1
Question #1492
The 'child sex ratio' in the Indian census is defined as the number of girls per how many boys in the age group 0-6?
A. 10,000
B. 100
C. 1,000
D. 100,000
Discuss
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Correct Answer: Option C

Explanation:
Child sex ratio is expressed as girls per 1,000 boys in the 0-6 age group.
This question belongs to: Economy GK Economy Set 1
Question #1493
The 'literacy rate' in the Indian census is defined for persons aged:
A. 0-6 years
B. 7 years and above
C. 15-35 years
D. 18-60 years
Discuss
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Correct Answer: Option B

Explanation:
The literacy rate is calculated for the population aged 7 years and above.
This question belongs to: Economy GK Economy Set 1
Question #1494
The 'Total Fertility Rate' is the average number of children born to a woman over her lifetime.
A. Only for working women
B. False
C. True
D. Only for urban women
Discuss
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Correct Answer: Option C

Explanation:
Total fertility rate is the average number of children a woman would have during her reproductive life.
This question belongs to: Economy GK Economy Set 1
Question #1495
The 'replacement level fertility' is generally considered to be about how many children per woman?
A. 3.0
B. 4.0
C. 1.0
D. 2.1
Discuss
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Correct Answer: Option D

Explanation:
Replacement level fertility is about 2.1 children per woman.
This question belongs to: Economy GK Economy Set 1
Question #1496
The 'National Family Health Survey' is conducted by:
A. NITI Aayog
B. Ministry of Health and Family Welfare with IIPS
C. NSSO
D. RBI
Discuss
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Correct Answer: Option B

Explanation:
NFHS is conducted by the Ministry of Health and Family Welfare with the International Institute for Population Sciences.
This question belongs to: Economy GK Economy Set 1
Question #1497
The 'Universal Immunization Programme' aims to protect children against:
A. vaccine-preventable diseases including polio, measles, tuberculosis and others
B. only polio
C. only COVID-19
D. only smallpox
Discuss
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Correct Answer: Option A

Explanation:
Universal Immunization Programme protects children against multiple vaccine-preventable diseases.
This question belongs to: Economy GK Economy Set 1
Question #1498
The 'National Rural Health Mission' was subsumed under:
A. Ayushman Bharat
B. Health and Wellness Centres
C. National Health Mission
D. PM-JAY
Discuss
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Correct Answer: Option C

Explanation:
NRHM and NUHM were subsumed under the National Health Mission.
This question belongs to: Economy GK Economy Set 1
Question #1499
The 'Swachh Bharat Mission' aims to achieve:
A. open defecation free India and solid waste management
B. only water supply
C. only urban sanitation
D. only rural roads
Discuss
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Correct Answer: Option A

Explanation:
Swachh Bharat Mission aims at open defecation free India and solid waste management.
This question belongs to: Economy GK Economy Set 1
Question #1500
The 'Beti Bachao Beti Padhao' scheme aims to:
A. provide maternity benefits
B. promote women's employment only
C. promote male education
D. prevent female foeticide and promote education of the girl child
Discuss
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Correct Answer: Option D

Explanation:
Beti Bachao Beti Padhao aims to address declining child sex ratio and promote girl child education.
This question belongs to: Economy GK Economy Set 1
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