Indian Economy Practice Question and Answer

Q:

Process making of bricks by using soil comes under which sector of economic activity?

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  • 1
    Tertiary sector
    Correct
    Wrong
  • 2
    Primary sector
    Correct
    Wrong
  • 3
    Secondary sector
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 3. "Secondary sector"

Q:

An area which supports the economy and export trade of a sea port is called its ______.

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  • 1
    Trade land
    Correct
    Wrong
  • 2
    Hinter land
    Correct
    Wrong
  • 3
    Import land
    Correct
    Wrong
  • 4
    Export land
    Correct
    Wrong
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Answer : 2. "Hinter land"

Q:

Foreign currency which has a tendency of quick migration is called -

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  • 1
    Gold currency
    Correct
    Wrong
  • 2
    Hot currency
    Correct
    Wrong
  • 3
    Scarce currency
    Correct
    Wrong
  • 4
    Soft currency
    Correct
    Wrong
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Answer : 2. "Hot currency "

Q:

Which of the following is a better measurement of Economic Development? 

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  • 1
    NNP
    Correct
    Wrong
  • 2
    Per capita income
    Correct
    Wrong
  • 3
    GDP
    Correct
    Wrong
  • 4
    Disposable income
    Correct
    Wrong
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Answer : 1. "NNP "

Q:

What does the Lorenz Curve indicate?

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  • 1
    Relationship between the price of a certain commodity and its demand
    Correct
    Wrong
  • 2
    Income distribution
    Correct
    Wrong
  • 3
    Rate of employment
    Correct
    Wrong
  • 4
    Taxable income elasticity
    Correct
    Wrong
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Answer : 2. "Income distribution"

Q:

A ____________ occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings.

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  • 1
    Current Account Deficit
    Correct
    Wrong
  • 2
    Budgetary Deficit
    Correct
    Wrong
  • 3
    Revenue Deficit
    Correct
    Wrong
  • 4
    Fiscal Deficit
    Correct
    Wrong
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Answer : 4. "Fiscal Deficit"

Q:

Unemployment that arises when there is a general downturn in business activity is known as 

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  • 1
    Structural unemployment
    Correct
    Wrong
  • 2
    Frictional unemployment
    Correct
    Wrong
  • 3
    Cyclical unemployment
    Correct
    Wrong
  • 4
    Disguised unemployment
    Correct
    Wrong
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Answer : 3. "Cyclical unemployment "

Q:

Stagflation is defined as

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  • 1
    high inflation, low growth, high unemployment
    Correct
    Wrong
  • 2
    high inflation, low growth, high unemployment
    Correct
    Wrong
  • 3
    high inflation, high growth, high unemployment
    Correct
    Wrong
  • 4
    low inflation, high growth, low unemployment
    Correct
    Wrong
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Answer : 2. "high inflation, low growth, high unemployment "

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