In India, National Income is computed by :

• Ministry of Fianance
• Central Statistical Organisation
• National Development Council
• Finance Commission
Correct Option: B  [ Central Statistical Organisation ]

Remark:

If withdrawal of a worker from employment does not create any output loss, this situation is known as

• Search unemployment
• Voluntary unemployment
• Disguised unemployment
• Frictional unemployment
Correct Option: C  [ Disguised unemployment ]

Remark:

Which among the following in India has the function of recommending Minimum Support Prices for various commodities to the Government ?

• National Farmers Commission
• Commission for Agricultural Costs and Prices
• Central Statistical organization
• Department of Agriculture
Correct Option: B  [ Commission for Agricultural Costs and Prices ]

Remark:

First Five Year Plan started in India in the year?

• 1952
• 1956
• 1950
• 1951
Correct Option: D  [ 1951 ]

Remark: 1951-56

Which is the following is direct tax ?

• Income tax
• Excise duty
• Sales tax
• None of these
Correct Option: A  [ Income tax ]

Remark:

Who was the father of Operation Flood in India ?

• Dr. Varghese Kurien
• M. S. Swaminathan
• A P J Abdul Kalam
• Morarji Desai
Correct Option: A  [ Dr. Varghese Kurien ]

Remark: Operation Flood related to Milk Production.

Mixed economy means an economy where:

• There is co-existence of public sector along with private sector
• Both agriculture and Industry are equally promoted by the state
• There is importance of small scale industries along with heavy industries
• Economy is controlled by military as well as civilian rulers
Correct Option: A  [ There is co-existence of public sector along with private sector ]

Remark:

About Deendayal Antyodaya Yojana (DAY) which of the following is not correct ?

• It focuses on both the rural and urban areas
• It aims at skill development.
• It is a State Government's scheme
• It has replaced Ajeevika
Correct Option: C  [ It is a State Government's scheme ]

Remark:

Poverty is defined as:

• A monetary condition brought about by people's own laziness
• A monetary condition where people do not have enough to satisfy basic needs
• A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income
• All of the above
Correct Option: C  [ A monetary and non-monetary conditions where people lack access to community regulated common resources, opportunities and income ]

Remark:

NABARD stands for:

• National Activated Bank for Agriculture and Rural Development
• National Bank for Agriculture and Rural Development
• National Agricultural Backward and Rural Development
• National Bank for Accelerated Rural Development
Correct Option: B  [ National Bank for Agriculture and Rural Development ]

Remark: