Home History Geography Polity General Science Indian Economy Grammar
Welcome, Guest

MCQ on Indian Economy

The growth of per capita income of current prices is higher than that of per capita income at constant prices because the later takes into account the rate of

  • growth of population
  • increase in price level
  • growth of money supply
  • increase in the wage rate
  • Correct Option: B  [ increase in price level ]

    Explanation:

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 ]

    Explanation:

The qualification for the Chairman and the members of the Finance Commission are specified in:

  • Finance Act of 1951
  • Finance Act of 1952
  • Finance Act of 1950
  • Finance Act of 1953
  • Correct Option: A  [ Finance Act of 1951 ]

    Explanation:

Which of the following is the role of Finance Commission ?

  • Sharing of net proceeds of taxes between the Centre and States.
  • Recommending principles for governing the grants-in-aid to the States by the Centre
  • Recommendations on matters referred to it by the President for the interest of finance
  • All of the above
  • Correct Option: D  [ All of the above ]

    Explanation:

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 ]

    Explanation: Operation Flood related to Milk Production.

Economic growth is usually coupled with ___________.

  • deflation
  • inflation
  • Stagflation
  • hyper inflation
  • Correct Option: B  [ inflation ]

    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
  • Correct Option: B  [ Collaboration ]

    Explanation:

The equilibrium condition for money market is:

  • demand for money should be equal to supply of money
  • cash in hand should be equal to deposits in bank
  • saving is equal to investment
  • bank rate is equal to repo rate
  • Correct Option: A  [ demand for money should be equal to supply of money ]

    Explanation:

Which of the following is true in respect of Centre-State financial relations ?

  • Amount given by Centre is the only source of income to States
  • States can by-pass Centre while taking foreign loans
  • States can not levy income tax
  • States can claim 100 % share in excise duty on goods produced in the State
  • Correct Option: C  [ States can not levy income tax ]

    Explanation:

Gilt-edged market means:

  • Market of government securities
  • Bullion market
  • Market of commodities
  • Market of pure metals
  • Correct Option: A  [ Market of government securities ]

    Explanation: