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Indian Economy Test 2
Read Instructions for the test.
Negative marks are -0.33 per wrong answer
Right answer is 1 mark
No time limit but finish in 30 mins
Solution can be found at below chapters:
Test series is based on following chapters.
Indian Economy Chapter 3: NEW ECONOMIC POLICY - 1991
Indian Economy Chapter 4: ECONOMICS OF POVERTY
Indian Economy Chapter 5: MACROECONOMICS
Q1: Privatization measures undertaken during New economic policy were
Government ownership of private companies was removed by outright sale of P.S.U or removal of government from managements of these companies.
P.S.Us were granted status of Navratnas and Maharatnas
Divestment in PSU's
all
Q2: Globalization led to the following
Outsourcing
World Trade Organization [W.T.O] was founded
both
none
Q3:Which is true?
India was a founder member and has been instrumental in deciding policies
W.T.O aims to reduce tariff and non tariff barriers amongst nations and ensure all countries take advantage of world’s trade.
both
none
Q4: Criticism of globalization is
increased trade disparity between developed and developing countries
opening of trade has benefited the developed countries more as they have been able to access the developing markets.
developing countries haven’t been able to compete in the markets of developed countries due to inferior goods.
all
Q5:Indian economist to first come up with a concept of the poverty line
GVK Rao
VKRV Rao
Dadabhai nauroji
RC Dutt
Q6: Which is not a category of poverty
always poor
non uniform poor
chronic poor
occasional poor / transient poor
Q7: Multi dimensional poverty index is by which agency
UNEP
UNICEF
UNDP
UNGA
Q8: Which is true ?
Multi dimensional poverty index calculates intensity * incidence
It has replaced the Human poverty index.
both
none
Q9: Incidence of Multi dimensional poverty index is calculated as
Health, Education and standard of living
wealth
both
none
Q10:Indicators of multi dimension poverty index for health include
nutrition
child mortality
both
none
Q11: Indicators of multi dimension poverty index for health include
years of schooling
children enrolled
both
none
Q12: G.I.N.I Coefficient is published by
IMF
World bank
UNDP
UNESCO
Q13: the goods that are consumed by their final purchasers like food and drinks or services like recreation.
finished goods
public goods
end user goods
consumption goods
Q14: the goods that are of durable character which is used in the production process.
finished goods
non durable goods
public goods
capital goods
Q15: _____ is the deletion from the value of gross investments in order to accommodate regular wear and tear of capital.
appreciation
depreciation
penalty
taxation
Q16: sum total of gross value added for all firms in the economy.
Gross national income
Gross domestic product
both
none
Q17: sum total of final expenditures received by all firms in the economy
GDP
GNI
Net domestic product
all
Q18: sum total of factor payments made by firms in the economy
Net national income
GDP
industrial output
gross value added
Q19: Operating expense + consumption of fixed capital + compensation of employees + production taxes - production subsidies =
GDP
Net domestic product
national income
gross value added at basic prices
Q20: GVA [basic prices] + product taxes – product subsidies
GVA [market price]
GDP
National income
net domestic product
Q21: GVA at basic prices - (Production taxes - production subsidies) =
GVA at factor cost
GDP at factor cost
both
none
Q22: GVA at basic prices + product taxes - product subsidies =
GDP
Net domestic product
both
none
Q23: GDP - consumption of fixed capital =
Net domestic product
GDP at factor cost
both
none
Q24: GDP + net primary income from rest of the world =
gross national income
net national income
net domestic product
gross domestic product at market prices
Q25: compensation of employees + property and entrepreneurial income =
primary income
taxation
return on investment
none
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