NATURE OF INDIAN ECONOMY MCQS SET 05

NATURE OF INDIAN ECONOMY MCQS SET 05

41) Match List I (Period) with List II (Growth rate of India's population) and select the correct answer using the codes given below the lists
List I      List II
A. 1891 to 1921      1. High growth with definite sign of slowing down and stabilisation
B. 1921 to 1951      2. Stagnant population growth
C. 1951 to 1981      3. Steady population growth
D. 1981 to 2011      4. Rapid high population growth
Below the Codes are given in A B C D order
A) 2 4 3 1
B) 2 3 4 1
C) 4 3 1 2
D) 4 1 3 2
Correct Answer: 2 3 4 1
   
42) What percentage of the total population of the world resides in India, as estimated in 2011?
A) 15
B) 17.5
C) 20
D) 22.5
Correct Answer: 17.5
   
43) Which of the following is used for the measurement of distribution of income?
A) Laffer Curve
B) Engel's Law
C) Gini-Lorenz Curve
D) Phillips Curve
Correct Answer: Gini-Lorenz Curve
   
44) Which one of the following sectors is the major contribution towards the Gross Domestic Saving in India in recent time?
A) Public sector
B) Private sector
C) Corporate sector
D) Household sector
Correct Answer: Household sector
   
45) Consider the following statements
1. Keynesian theory advocates a mixed economy with a large role of government and public sector.
2. J M Keynes had strongly supported the Laissez-Faire policy of capitalism.
Which of the statements given above is/are correct?
A) Only 1
B) Only 2
C) Both 1 and 2
D) Neither 1 nor 2
Correct Answer: Only 1

46) Which one of the following economists firstly introduced Gross Domestic Product to measure the economic growth of a country?
A) Simon Kuznet
B) Max O Lorenz
C) John Maynard Keynes
D) Ernst Engel
Correct Answer: Simon Kuznet
   
47) During which decade did the population record a negative growth rate in India?
A) 1921-1931
B) 1911-1921
C) 1941-1951
D) 1931-1941
Correct Answer: 1911-1921
   
48) Consider the following statements
1. Phillips Curve is an inverse relationship between the rate of unemployment and the rate of inflation in an economy.
2. Engel's law observes that as income rises, the proportion of income spent on food falls even if the actual expenditure on food rises.
Which of the statements given above is/are correct?
A) Only 1
B) Only 2
C) Both 1 and 2
D) Neither 1 nor 2
Correct Answer: Both 1 and 2
   
49) Mixed economy means an economy where
A) both agriculture and industry are equally promoted by the state.
B) there is co-existence of private sector along with the public sector.
C) there is importance of small scale industries along with heavy industries.
D) economy is controlled by military as well as civilian rulers.
Correct Answer: there is co-existence of private sector along with the public sector.
  
50) The value of all final goods and services produced by the normal residents of a country and their property, whether operating within the domestic territory of the country or outside in a year is termed as
A) Gross National Income
B) Net National Income
C) Gross Domestic Product
D) Net Domestic Product
Correct Answer: Gross National Income