Which of the following is NOT a objective of economic planning in India? MCQ with Answer and Explanation

Question
Which of the following is NOT a objective of economic planning in India?
A. Economic growth
B. Modernisation
C. Maximisation of inequality
D. Self-reliance
Answer: Option C
Solution (By JKSSB Mock Tests)
Economic planning in India aimed at growth, modernisation, self-reliance and social justice (reduction of inequality), not maximisation of inequality.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The 'General Agreement on Trade in Services' is part of:
A. WTO
B. IMF
C. UNCTAD
D. World Bank
Discuss
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Correct Answer: Option A

Explanation:
GATS is a WTO agreement covering trade in services.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a feature of the 'Gravity Model' of international trade?
A. Trade is determined only by comparative advantage
B. Trade is independent of distance
C. Bilateral trade flows are positively related to the economic sizes of the countries and negatively related to the distance between them
D. Only tariffs determine trade volumes
Discuss
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Correct Answer: Option C

Explanation:
The gravity model predicts that the volume of trade between two countries is proportional to the product of their GDPs and inversely related to the distance (and other trade costs) between them.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'Keynesian cross' model shows equilibrium income where:
A. exports equal imports
B. money supply equals money demand
C. aggregate demand equals aggregate supply
D. interest rate equals inflation
Discuss
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Correct Answer: Option C

Explanation:
The Keynesian cross shows equilibrium where aggregate demand equals aggregate supply.
This question belongs to: Economy GK Economy Set 1
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