ECONOMY MCQS SET 51

ECONOMY MCQS SET 51

501) Three states which had HDI higher than China:
A) Maharashtra, Madhya Pradesh and Kerala
B) Haryana, Punjab an Maharashtra
C) Kerala, Punjab and Maharashtra
D) Gujarat, Maharashtra and Kerala
Answer:  Kerala, Punjab and Maharashtra
   
502) National income is arrived at by adding to Net Domestic Product:
A) depreciation
B) net inflow from abroad
C) indirect taxes
D) subsidies
Answer:  net inflow from abroad
   
503) The product method of calculating National Income is otherwise known as:
A) Value added method
B) Income method
C) Expenditure method
D) Net Output method
Answer:  Value added method
   
504) Know Your Customer (KYC) regulations have been introduced in financial transactions under the regulations of:
A) Banking Companies Act
B) Prevention of Money Laundering Act
C) Reserve Bank of India Act
D) Companies Act
Answer:  Prevention of Money Laundering Act
   
505) India's Trade Policy (20l5-20) seeks to:
1. Raise the share of India in world exports from 2 to 3.5% by 2020;
2. Achieve a growth of 25% per annum in exports;
3. Double Indian exports of goods and services by 2020.
Which of the above are correct?
A) 1 only
B) 1 and 2
C) 2 and 3
D) 1 and 3
Answer:  1 only

506) In order to promote village industrialization, Government of India has set up the Mahatma Gandhi Institute for Rural Industrialization in:
A) Hyderabad
B) Wardha
C) Kolkata
D) Porbandar
Answer:  Wardha
   
507) Relative poverty refers to a situation where:
A) a person falls behind others
B) a Person is unable to obtain the necessaries for life
C) a Person is below poverty line
D) a Person is poorer than another in the developed world
Answer:  a person falls behind others
   
508) Use of energy requirements (calorie) as a measure of poverty in India was made for the first time by:
A) Amartiya Sen
B) Dandekar and Rath
C) Planning Commission
D) T.N. Srinivasan
Answer:  Dandekar and Rath
   
509) The concept of 'Pindex' as a measure of income shortfall was proposed by:
A) Jagdish Bhagwati
B) P.S.Loganathan
C) B.S.Minhas
D) Amartiya Sen
Answer:  Amartiya Sen
  
510) The fastest increasing component of the Central Government expenditure is:
A) defense
B) interest payment
C) subsidies
D) natural calamities
Answer:  subsidies