MCQ on Indian Economy
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
Explanation:
The period of high inflation and low economic growth is termed as:
- Stagnation
- Take-off stage in economy
- Stagflation
- Depression
Explanation:
First Five Year Plan started in India in the year?
- 1952
- 1956
- 1950
- 1951
Explanation: 1951-56
Which activity is not included in service sector ?
- Trade, hotels and restaurants
- Real estate, finance and insurance
- Transport and communication
- Electricity, gas and water supply
Explanation:
The World Trade Organisation has replaced which organisation ?
- ITO
- UNCTAD
- GATT
- OECD
Explanation:
When two or more persons working jointly on the basis of a common plan of action, then it is called:
- Co-operation
- Collaboration
- Co-ordination
- Consulting
Explanation:
A closed economy is an economy in which:
- the money supply is fully controlled
- deficit financing takes place
- only exports take place
- Neither exports nor imports take place.
Explanation:
Assertion (A) :
The development programmes undertaken in India are oriented towards economic growth along with social justice.
Reason (R) :
Indian economy is afflicted with poverty, unemployment and inequalities.
Select the correct answer from the following options.
- Both (A) and (R) are correct, and (R) is the correct explanation for (A)
- Both (A) and (R) are correct, but (R) is not the correct explanation for (A)
- (A) is correct, but (R) is not correct
- (A) is not correct, but (R) is correct
Explanation:
The Mahalanobis strategy of Indian Planning gave emphasis to the growth of:
- Agricultural sector
- Services sector
- Heavy Capital Goods Industrial sector
- Small scale Village Industrial sector
Explanation:
In order to control inflationary price rise, Reserve Bank directs Banks to
- Reduce rate of interest on credit
- Reduce Statutory Liquidity Ratio (SLR)
- Increase Cash Reserve Ratio (CRR)
- Buy bonds from capital market
Explanation: