Indian Economy Questions

Q:

What is poverty gap?

 

A) the difference between poverty line and actual income level of all those living below that line B) gap between developed and developing nations
C) gap between the rich and the poor D) gap between infrastructural facilities in developed and developing nations  
 
Answer & Explanation Answer: A) the difference between poverty line and actual income level of all those living below that line

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Q:

Which of the following is NOT a measure of Human Development Index?

 

A) Life expectancy B) Sex ratio
C) Literacy rate D) Gross enrolment
 
Answer & Explanation Answer: B) Sex ratio

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Q:

The purpose of land reforms was to achieve ___________.

 

A) increase in production B) increase the purchasing power of the rural population
C) ensure distributive justice with economic growth D) All options are correct
 
Answer & Explanation Answer: D) All options are correct

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Q:

The demand for labour is the same as the ___________.

 

A) marginal revenue product B) marginal physical product
C) marginal cost D) wage
 
Answer & Explanation Answer: A) marginal revenue product

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Q:

‘KAPILA’ programme, which was making news recently, is associated with which sector?

 

A) MSME B) Intellectual Property Rights
C) Aviation D) Automobile
 
Answer & Explanation Answer: B) Intellectual Property Rights

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Q:

The Standard of living in a country is represented by its

A) Poverty Ratio B) Per Capita Income
C) National Income D) Unemployment Rate
 
Answer & Explanation Answer: B) Per Capita Income

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Q:

For an inferior good demand falls when _________.

 

A) Piece rise   B) Price falls  
C) Income rise   D) Income falls  
 
Answer & Explanation Answer: C) Income rise  

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Q:

Visible and invisible items of debit and credit are the part of___________.

 

A) import-export policy B) balance of payment
C) balance of trade D) annual budget
 
Answer & Explanation Answer: B) balance of payment

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