Nature of Indian Economy Questions and answers

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      1. Nature of Indian Economy
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81). Which one of the following is not a goal included in the Millennium Development Goal of United Nations?
A). To halve the people of the world living with hunger
B). To halve the proportion of the world's people living below $ 2.5
C). To halve the proportion of the world's people without access to safe drinking water
D). To achieve gender equality in access to education
82). Which of the following is not true about an open economy?
1. Free from trade barriers
2. No imports are brought in and no exports are sent out
3. Exports and imports form a large percentage of the GDP
4. Self sufficient
Choose the correct answer from the codes given below
A). 2 and 4
B). 1 and 2
C). 3 and 4
D). All of these
83). Consider the following statements
1. Kerala is the best performer in terms of HDI in India.
2. Kerala has performed better than Norway in terms of overall HDI.
Which of the statements given above is/are correct?
A). Only 1
B). Only 2
C). Both 1 and 2
D). Neither 1 nor 2
84). Which one of the following is not a part of service sector in India?
A). Transport
B). Construction
C). Hotels and restaurants
D). Insurance
85). Choose the correct indices of Physical Quality of Life index.
A). Percentage of unnourished, Percentage of under weight children, Mortality Rate of children
B). Life expectancy, Educational attainment index and standard of living index
C). Gender development index, Gender inequality index, inequality adjusted human development index.
D). Life expectancy, Basic literacy rate, infant Mortality Rate


86). Which one of the following statements with regard to India's economy between 1814 to 1850 is not correct?
A). Between 1814 and 1850, four commodities dominated India's exports- raw silk, opium, cotton and indigo.
B). Between 1814 and 1860, five commodities dominated India's exports--raw silk, opium, cotton, indigo and jute.
C). Indigo and raw silk required processing techniques.
D). Indigo and raw silk were financed by foreign capital.
87). What is meant by disposable personal income
A). A person's income
B). Income remaining out of personal income after the payment of tax
C). Income that remains after meeting necessities
D). Income spend for food only
88). Who presented the first Union Budget of independent India?
A). Morarji Desai
B). John Mathai
C). PK Shanmukham Chetty
D). NK Chanda
89). How can we arrive at NNP from GNP in National Income accounting
A). GNP + Depreciation
B). GNP - Net Indirect Taxes
C). GNP - Depreciation
D). GNP + Net Indirect Taxes
90). Consider the following statements
1. In last ten years, foodgrain production in India has increased ten times of production in first Five Year Plan.
2. Since 2000, India has started producing 200 million tonnes of rice only.
Which of the statements given above is/are correct?
A). Only 1
B). Only 2
C). Both 1 and 2
D). Neither 1 nor 2
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