NATURE OF INDIAN ECONOMY MCQS SET 03

NATURE OF INDIAN ECONOMY MCQS SET 03

21) Take off stage' in an economy means :
A) steady growth beings
B) economy is stagnant
C) economy is about to collapse
D) all controls are removed
Correct Answer: steady growth beings
   
22) Planning in India derives its objectives from :
A) Fundamental Rights
B) Directive Principles of State policy
C) Fundamental Duties
D) Preamble
Correct Answer: Directive Principles of State policy
   
23) 70% working population of India is engaged in :
A) public sector
B) primary sector
C) secondary sector
D) tertiary sector
Correct Answer: primary sector
   
24) Economic survey is published by :
A) Ministry of Finance
B) Planning Commission
C) Govt. of India
D) Indian Statistical Institute
Correct Answer: Ministry of Finance
   
25) Which one of the following is NOT within the duties of the Planning Commission ?
A) To define the stage of growth and suggest allocation of resources.
B) To make an assessment of the material, capital and human resources
of the country
C) To determine the nature of machinery required for implementation
of plan proposals.
D) To prepare the annual central budget.
Correct Answer: To prepare the annual central budget.

26) The basic difference between imperative and indicative planning is that :
A) It is easier to achieve targets in imperative type of planning.
B) In the case of imperative planning, all economic activities belong to public
sector, while in the other type they belong to the private sector.
C) In the case of imperative planning, the market mechanism is entirely replaced
by a command hierarchy, while in the case of indicative planning, it is looked
upon as a way to improve the functioning of the market system.
D) In the case of indicative planning, there is no need to nationalise any industry.
Correct Answer: In the case of imperative planning, the market mechanism is entirely replaced by a command hierarchy, while in the case of indicative planning, it is looked upon as a way to improve the functioning of the market system.
  
27) Among the achievements of Indian planning, we may include :
1. development of strong infrastructure
2. diversification of industry and exports
3. high growth of national income
4. strong control over prices
A) 1 and 2
B) 1, 2 and 3
C) 1, 2 and 4
D) 2 and 3
Correct Answer: 1 and 2
   
28) Which of the following features indicate that Indian economy is of the developing category?
I. Occupation mainly agricultural
II. Chronic unemployment
III. Poor quality of human capital
IV. Low per capita intake of proteins
A) I, II and III
B) I and IV
C) II and III
D) I, II, III and IV
Correct Answer: I, II, III and IV
   
29) Dadabhai Naoroji theorised on the drain of wealth from India in his book :
A) Poverty under British Rule in India
B) Poverty in British Rules in India
C) Poverty and Un-British Rule in India
D) Poverty of Economic Drain in British India
Correct Answer: Poverty and Un-British Rule in India
   
30) Which of the following may be termed long-term objectives of Indian planning?
1. Self-Reliance
2. Productive employment generation
3. Growth of 7 per cent per annum
4. Growth in infrastructure
A) 1 and 2
B) 3 and 4
C) 1,2 and 4
D) 2, 3 and 4
Correct Answer: 1 and 2