Indian Economy MCQ Practice Set – Series 8

Indian Economy MCQ Practice Set Questions Answers – Series 8

1) The percentage of urban population India according to Census 2001, is:

a) 20.8

b) 25.7

c) 27.3

d) 27.8

View Answer
Option – d)

2) Which one of the following States of India has a million city as per 2001 Census report?

a) Assam


c) Chhattisgarh

d) Orissa

View Answer
Option – b)

3)  Which one of the following Five Years Plans of India had growth with social justice and equality for achieving its goal as the main focus?

a) VI

b) VII


d) IX

View Answer
Option – d)

4) National income is based on the:

a) total revenue of the State

b) production of goods and services

c) net profit earned and expenditure made by the State

d) the sum of all factions of income

View Answer
Option – b)

5)  Self-reliance in the economic context implies that a country:

1. meets its demands for all goods and services from its domestic production

2. exports some of its goods but does not need to import anything

3. has sufficient foreign exchange reserves to buy all its needs

4. meets its demand for certain vital goods and services from its domestic production

(a) 1 and 3

(b) 2 and 4

(c) 1, 2 and 3

(d) 3 and 4

View Answer
Option – d)

6) ‘Globalization of Indian Economy’ means:

(a) stepping up external borrowings

(b) establishing Indian business units abroad

(c) having minimum possible restrictions on economic relations with other countries

(d) giving up programs of import substitution

View Answer
Option – c)

7) Disguised unemployment in India is mainly related to :

1. agricultural sector

2. rural area

3. factory sector

4. urban area

(a) 1 and 2

(b) 1 and 3

(c) 2 and 4

(d) 3 and 4

View Answer
Option – a)

8) Among the following who are eligible to benefit from the “Mahatma Gandhi National Rural Employment Guarantee Act” ?

(a) Adult members of only the scheduled Caste and scheduled tribe households

(b) Adult members of below poverty line (BPL) households

(c) Adult members of households of all backward communities

(d) Adult members of any household

View Answer
Option – d)

9) For which one of the following purposes, the Government has launched the Rajiv Awas Yojana?

a) To provide affordable houses to people living BPL To provide 

b)affordable houses to rural poor

c) To provide affordable houses to minorities

d) To provide affordable houses to slum dwellers and the urban poor

View Answer
Option – d)

ans: d

10) Which of the following prints currency notes of the denomination of Rs. 100?

(a) The Bank Note Press, Dewas

(b) The Indian Security Press, Nasik Road

(c) The Security Printing Press, Hyderabad

(d) All of the above

View Answer
Option – a)

11) The Planning Commission of India:

I. was set up in 1950

II. is a constitutional body

III. is an advisory body

IV. is a government department

(a) I and II

(b) II and III

(c) I and III

(d) III only

View Answer
Option – c)

12) The situation with increasing unemployment and inflation is termed as:

(a) hyperinflation

(b) galloping inflation

(c) stagflation

(d) reflation

View Answer
Option – c)

13) How do we define the terms bull and bear with regard to stock markets?

(a) A bull is an optimistic operator who first buys and then sells shares in expectation of the price going up; a bear is a pessimistic market operator who sells the shares in expectation of buying them back at a lower price

(b) There is nothing significantly different as both operate in the capital market

(c) Bull is one who first sells a share and then buys it at a lower price; bear means one who first buys and then sells it in expectation of prices going up

(d) A bull is ready to buy any share; a bear only deals in government securities

View Answer
Option – a)

14) The National Stock Exchange functions from:

(a) New Delhi

(b) Mumbai

(c) Nagpur

(d) Kolkata

View Answer
Option – b)

15) Which of the following is not a method of estimating national income?

(a) Income method

(b) Value-added method

(c) Expenditure method

(d) Export-import method

View Answer
Option – d)

16) The per capita income has been low in India because:

(a) of population growth

(b) of price rise

(c) more people are in rural areas

(d) of regional imbalances

View Answer
Option – a)

17) As the economy develops, the share of the tertiary sector in the GDP:

a) Decreases

b) Decreases then increases

c) Increases

d) Remainds constant

View Answer
Option – c)

18) It will be true of classify India as:

a) A food-deficit economy

b) A labour-surplus economy

c) A trade-surplus economy

d) A capital-surplus economy

View Answer
Option – b)

19) Which one of the following States of India records the highest sex-ratio?

a) Kerala

b) Karnataka

c) Meghalaya

d) Tamil Nadu

View Answer
Option – a)

20) As per the Census of 2011, the least urbanized State of India is:

a) Arunachal Pradesh

b) Assam

c) Himachal Pradesh

d) Uttaranchal

View Answer
Option – c)

Thank You!!