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 Indian Economy Questions

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Q:

Generally unemployment in a developing country takes place because of ___________.

 

A) lack of complementary factors of production B) seasonal factors
C) lack of effective demand D) switch over from one job to another
 
Answer & Explanation Answer: A) lack of complementary factors of production

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Exam Prep: Bank Exams

1 21103
Q:

Which of the following policies of the financial sectors is basically designed to transfer local financial assets into foreign financial assets freely and at market determined exchange rates?

A) Capital Account Convertibility B) Financial Deficit Management
C) Mimimum Support Price D) Restrictive Trade Practices
 
Answer & Explanation Answer: A) Capital Account Convertibility

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Q:

When did India's population touch 100 crore mark

A) May, 2001 B) May 2000
C) May, 2002 D) May, 2003
 
Answer & Explanation Answer: B) May 2000

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Q:

Where was electricity supply first introduced in India

A) Kolkata B) Mumbai
C) Darjeeling D) Chennai
 
Answer & Explanation Answer: C) Darjeeling

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Q:

Which plan gave emphasis on removal of poverty for the first time

A) Fourth B) Fifth
C) Sixth D) Seventh
 
Answer & Explanation Answer: B) Fifth

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29 19329
Q:

In India national, National Income is calculated by the method which is known as

A) the combined method B) the income method
C) the product method D) the expenditure method
 
Answer & Explanation Answer: A) the combined method

Explanation:

In India, National Income is calculated by the combined method. It combines two methods i.e product or output method and the income method. This is done to overcome the problem of deficiency of statistics. The product method endeavours to find out the net contribution to national income of all producing units. The income method adds up income and payments accruing of factors of production. This method is used in the tertiary  sector like government services banking etc and also in the commoity sector if output data is not available.

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Q:

In an economy , the sectors are classified into public and private on the basis of

A) employment conditions B) nature of economic activities
C) ownership of enterprises D) use of raw materials
 
Answer & Explanation Answer: C) ownership of enterprises

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Q:

The first Census in India during the British period was held during the tenure of

A) Lord Dufferin B) Lord Lytton
C) Lord Mayo D) Lord Ripon
 
Answer & Explanation Answer: C) Lord Mayo

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