Journey of a Thousand Miles begins with One Click!!!
Score Card
Test Name
Marks
Answered
Unanswered
Correct
Wrong
Indian Economy Test
Retake Test
Go Home
Take Next Test
Indian Economy Test 3
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 4: ECONOMICS OF POVERTY
Indian Economy Chapter 5: MACROECONOMICS
Q1: The universal basic income scheme would involve
monthly income for basic necessities to all
income to the poor only
food security to all
food pension to all elderly
Q2: Difference between the average consumption level and the relevant poverty line is called
poverty gap
deprivation lelvel
classification error
none
Q3:government expenditure - government income =
trade deficit
budget deficit
income deficit
primary deficit
Q4: import expenditure – export revenue is
balance of trade
balance of payments
trade deficit
all
Q5:revenue deficit – grants given to state for building capital assets is
Effective revenue deficit
revenue deficit
trade deficit
fiscal deficit
Q6: revenue expenditure – revenue income =
revenue deficit
primary deficit
budget deficit
trade deficit
Q7: net borrowing from home + borrowing from RBI + borrowing from abroad =
Gross fiscal deficit
net fiscal deficit
primary deficit
government deficit
Q8: difference between the government’s total expenditure and its total receipts including borrowing =
primary deficit
poverty gap
fiscal deficit
budget deficit
Q9: gross fiscal deficit – net interest payments =
primary deficit
wealth deficit
interest deficit
trade coverage ratio
Q10:Fiscal Responsibility and Budget Management Act is to reduce
budget deficit
fiscal deficit
revenue deficit
b and c
Q11: Which is true ?
F.D > R.D > E.R.D > P.D > B.D
Non plan expenditure > plan expenditure
Revenue receipt > capital receipt
all
Q12: The macroeconomic variable that considers the addition when the Indian worker earns in foreign countries and subtractions of income earned by foreigners in India is called
gross domestic product
gross national product
net national product
none
Q13: Net.National.Product at market prices – indirect taxes + subsidies =
GDP
NDP
National income
net asset value
Q14: national income is
N.N.P at factor cost
N.N.P at market prices
both
none
Q15: N.N.P [market price] + current transfers [salaries, pensions, fees transferred abroad] =
Net disposable income
Gross disposable income
both
none
Q16: GDP that is evaluated by considering the goods and services at a constant rate. is called
Real GDP
Nominal GDP
both
none
Q17: GDP that is evaluated at the current prevailing price is
real GDP
GNI
Net domestic product
nominal GDP
Q18: nominal GDP / real GDP =
Net national income
GDP
GDP deflator
gross value added
Q19: In the absence of indirect taxes or subsidies the GDP is equal to the
Net disposable income
Net domestic product
national income
gross value added at basic prices
Q20: GDP is taken as a measure of welfare of a country but it isn’t one as
Distribution of GDP isn’t uniform
Non monetary exchanges not counted
externalities are not counted
all
Q21: the number of times a unit of money changes hands during a unit period of time. =
Velocity of circulation of money
GDP at factor cost
money supply
GDP dflator
Q22: Which is true?
Speculative demand for money is inversely proportional to rate of interest.
When the interest rate is high people expect it to fall and so convert their money into bonds.
When people feels the rates are too low they convert bonds to money anticipating an increase in the interest rates.
all
Q23: it is a record of transactions of goods, services and assets of residents of a country with the rest of the world. =
balance of trade
GDP at factor cost
both
balance of payments
Q24: Which is true ?
BOP has two components – current account and capital account
National income [Rs. 84 lac Cr.] and the Per capita income [Rs. 74000] have been rising every year
Share of services in the Gross Value Added at basic price [current] is 60%
all
Q25: Current account consists of
export and import of trade and invisibles
net foreign income
international aid
all
UPSCFEVER - POPULAR PAGES
Join The Movement
Share
upscfever.com
Discussions and Comments
Submit
Reset