NATURE OF INDIAN ECONOMY MCQS SET 16

NATURE OF INDIAN ECONOMY MCQS SET 16

151) The deputy chairman of the Planning Commission:
A) is the Prime Minister
B) is the Planning Minister
C) holds the rank of a cabinet minister
D) is an economist of repute
Correct Answer: holds the rank of a cabinet minister
   
152) Who was the first Deputy Chairman of Planning Commission of India?
A) Shri Jawaharlal Nehru
B) Dr. Rajendra Prasad
C) Shri C.Rajagopalachari
D) Shri V.T. Krishnamachari
Correct Answer: Shri V.T. Krishnamachari   
153) The Planning Commission of India:
I. was set up in 1950
II. is a constitutional body
III. is an advisory body
IV. is a government department
A) l and ll
B) II and III
C) l and III
D) III only
Correct Answer: l and III
   
154) Put in chronological order
1. Constitution of National Planning Committee -by the Indian National Congress under Jawaharlal Nehru
2. Planned Economy for India by Visvesvaraya published
3. Bombay Plan
4. Setting up of the National Development Council
A) 1, 2, 3, 4
B) 3, 2, 4, 1
C) 2, 3, 1, 4
D) 2, 1, 3, 4
Correct Answer: 2, 1, 3, 4
   
155) Microeconomics is concerned with:
1. behaviour of industrial decision-makers
2. determination of prices of goods and services
3. changes in the general level of prices
4. the level of employment
A) 1 and 2
B) 2 and 3
C) 3 and 4
D) 1 and 4
Correct Answer: 1 and 2

156) Indicative Planning being pursued in India since the 8th Plan aims at ensuring that:
1. Planning mechanism plays a facilitatory role
2. Planning mechanism brings about a balance between need and supply
3. Planning mechanism concerns itself with optimal utilisation of resources
4. Planning concerns itself with laying down broad directions in which the economy should move
Choose the correct answer from:
A) 1, 2 and 4
B) 1 and 2
C) 2, 3 and 4
D) 1, 2, 3 and 4
Correct Answer: 1, 2, 3 and 4
   
157) Consider the following statements:
1. The highest deciding body for planning in India is the Planning Commission of India.
2. The Secretary of the Planning Commission of India is also the Secretary of National Development Council
3. The Constitution includes economic and social planning in the Concurrent List in the Seventh Schedule of the Constitution of India.
Which of the statements given above is/are correct?
A) 1 and 2
B) 2 only
C) 2 and 3
D) 3 only
Correct Answer: 2 only
   
158) The basic objectives of Indian planning are:
1. economic growth
2. self-reliance
3. employment generation
4. population growth
A) 1, 2 and 4
B) 1, 2 and 3
C) 2 and 3
D) 1, 2, 3 and 4
Correct Answer: 1, 2 and 3
   
159) An underdeveloped economy is generally characterised by:
1. low per capita income
2. low rate of capital formation
3. low population growth
4. working force largely in the tertiary sector
A) 1 and 2
B) 2 and 3
C) 3 and 4
D) 1 and 4
Correct Answer: 1 and 2
   
160) Self-reliance in the economic context implies that a country:
1. meets its demands for all goods and services from its domestic production
2. exports some of its goods but does not need to import anything
3. has sufficient foreign exchange reserves to buy all its needs
4. meets its demand for certain vital goods and services from its domestic production
A) 1 and 3
B) 2 and 4
C) 1, 2 and 3
D) 3 and 4
Correct Answer: 3 and 4