Economics set 1 MCQs
Practice interactive objective questions for this topic. Select an option to instantly verify your answer and read detailed explanations.
Q.31
Match the concepts in column A with their respective descriptions in column B. Column A
A
a-5, b-1, c-2, d-3
B
a-2, b-3, c-4, d-1
C
a-2, b-1, c-4, d-3
D
a-5, b-3, c-2, d-1
Q.32
According to Census 2011, which district displays the highest population?
A
Kollam
B
Ajmer
C
Thane
D
Pune
Q.33
NDP = .
A
GDP - Depreciation
B
GDP + Depreciation
C
GDP - Net factor income from abroad
D
GDP + Net factor income from abroad
Q.34
During the period of 1947 to 1990, how many five-year plans were completed?
Q.35
Under which scheme are collateral free loans of up to ₹10 Lakh extended by the Member Lending Institutions (MLIs) in India?
A
National Strategy for Financial Inclusion
B
Pradhan Mantri MUDRA Yojana
C
Stand Up India scheme
D
Pradhan Mantri Jan Dhan Yojana
Q.36
Which of the following options best describes the primary cause of the per capita income decline?
A
Slower population growth
B
Population growth exceeding economic growth
C
Increase in exports
D
Decrease in inflation
Q.37
____is the provision of small credit to those who would have no other access to financial services.
A
Microloan
B
Microfinance
C
Homeloan
D
Pradhan Mantri Awas Yojana
Q.38
Which of the following goods needs further transformation in the economic process?
A
Consumer durable goods
B
Finished goods
C
Intermediate goods
D
Capital goods
Q.39
What was India's annual exponential growth rate as per the 2011 Census?
A
1.24%
B
2.14%
C
1.64%
D
1.94%
Q.40
As per the definition of Census of India, a 'marginal worker' is a person who works for:
A
less than 183 days (or six months) in a year
B
more than 183 days (or six months) in a year
C
eight months in a year
D
83 days in a year
Q.41
Which is the joint digital skills initiative for employability through digital skills by National Career Service and Microsoft India?
A
Digisaksham
B
Vidyadaan
C
Shiksha Vani
D
Swayam
Q.42
According to Census of India 2011, what is the gap between male and female literacy rate in India?
A
21.59%
B
18.30%
C
24.84%
D
16.68%
Q.43
According to the Agricultural and Processed food products Export Development Authority (APED(A) 2020-2021, which state of India has the first rank in grapes production?
A
Maharashtra
B
Karnataka
C
Bihar
D
Uttar Pradesh
Q.44
Which of the following is an example of capital receipts?
A
Revenue from the sale of government assets
B
Taxes on income
C
Interest on government bonds
D
Grants-in-aid from other governments
Q.45
The National Youth Policy 2014 defines youth as population between the ages of and .
A
20;29
B
15;25
C
15;29
D
10;19
Q.46
Which of the following definitions best describes the concept of microfinance?
A
A microfinance institution is a company registered under the Companies Act, 1956, and engaged in the business of loans and advances and acquisition of shares /stocks/ bonds/ debentures/ securities issued by the government.
B
Microfinance is a banking service provided to unemployed or low-income individuals or groups, who otherwise would have no other access to financial services.
C
A microfinance institution is a digital-only and mobile-first bank.
D
Microfinance refers to providing banking services to individuals living in rural areas.
Q.47
What challenge does foreign investment often face in India?
A
Excessive foreign competition
B
Inconsistent regulatory environment
C
Lack of skilled labour
D
Lack of consumer base
Q.48
As for the year 2020-21, which of the following states had the lowest unemployment rate among people aged 15 years and above?
A
Sikkim
B
Madhya Pradesh
C
Gujarat
D
Chhattisgarh
Q.49
Which of the following is a difference between self-help groups (SHGs) and microfinance institutions (MFIs) in India?
A
SHGs are non-profit organisations, while MFIs are for-profit organisations.
B
SHGs provide only credit, while MFIs provide a range of financial services.
C
SHGs are typically small, community-based organisations, while MFIs are larger and more formal institutions.
D
SHGs rely on government subsidies for funding, while MFIs rely on commercial sources of funding.
Q.50
Identify the sequence of implementation of the following taxes. I.Land revenue II.Sales tax III.MODVAT IV.Service tax
A
III, II, IV, I
B
II, IV, I, III
C
IV, II, I, III
D
I, II, III, IV
Q.51
What is the empirically fitted relationship between the rate of change of money, wage, and rate of unemployment known as?
A
Friedman's model
B
Keynesian model
C
Baumol hypothesis
D
Philips curve
Q.52
What was the actual growth rate of the first five year plan?
A
2.1%
B
4.5%
C
5.6%
D
3.6%
Q.53
Which of the following correctly defines 'Net Worth'?
A
Total Liabilities
B
Total Assets minus Total Liabilities
C
Total Reserves
D
Total Assets
Q.54
Which of the following is NOT correct with regards to the history of calculating National Income (NI) in India?
A
First official attempt to compute NI was made by PC Mahalanobis.
B
Dadabhai Naoroji divided the Indian economy into two parts: primary sector and secondary sector.
C
National Income is NNP at FC.
D
National Income is GDP at MP.
Q.55
Which of the following statements is/are correct? i. The first green revolution led to over exploitation of natural resources. ii. The second Green Revolution was more focused on Southern India. iii. The second green revolution ensured in achieving sustainable livelihood security.
A
i and iii
B
Only ii
C
ii and iii
D
i and ii
Q.56
As per the report of the NITI Aayog in 2023, which among the following states in India has the lowest percentage of the total population that is multidimensionally poor?
A
Goa
B
Kerala
C
Sikkim
D
Uttarakhand
Q.57
Which of the following statements is correct about the composition of the agriculture sector and employment in GDP post-independence?
A
The proportion of employment has declined significantly but not the share of the agriculture sector in GDP.
B
The proportion of both the agriculture sector and employment in GDP has increased significantly.
C
The proportion of both the agriculture sector and employment in GDP has declined significantly.
D
The proportion of GDP contributed by the agricultural sector declined significantly but not the employment depending on the agriculture sector.
Q.58
The Parliament passed the Essential Defence Services Bill, 2021 in August 2021. Which of the following is an objective behind passing it?
A
To encourage more FDI in defence services
B
To prohibit strikes, lockouts and layoffs in units engaged in essential defence services
C
To appoint more women in defence services
D
To implement one rank one pension
Q.59
In which five-year plan was the 'food, work, and productivity' slogan used?
A
Sixth
B
Fifth
C
Fourth
D
Seventh
Q.60
Each of the following statements includes two terms. In three cases, the two terms mean the same as each other. In which of the following cases do the two terms NOT mean the same as each other?
A
Unitary
B
Proportionate
C
Unpredictable
D
Disproportionate