Indian Economy Practice Question and Answer
8 Q: Amartya Sen was awarded the Noble Prize for his contribution to–
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6336e5cc30141c336c3a466b- 1Monetary Economicsfalse
- 2Welfare Economicstrue
- 3Econometricsfalse
- 4Development Economicsfalse
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Answer : 2. "Welfare Economics"
Explanation :
Explain: -For Welfare Economics and Social Choice Theory, Amartya Sen, in 1998 was awarded the Noble Prize. Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level. ... The field of welfare economics is associated with two fundamental theorems.
Q: The Relationship between rate of interest and consumption level was firstly estimated by–
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650ad9d0cb11fc5036ce9d90- 1Amartya Senfalse
- 2Milton Freedmantrue
- 3Irwing Fischerfalse
- 4James Duezan Berryfalse
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Answer : 2. "Milton Freedman "
Explanation :
Explain: -With increase in rate of interest there is decrease in consumption level i.e. there is inverse relation between rate of interest and consumption level.
Q: In which of the following years was the Reserve Bank of India nationalised?
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644bde2a6842c5ce47ce8093- 11935false
- 21949true
- 31927false
- 41965false
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Answer : 2. "1949"
Q: Who is a chairman of 15th Finance Commission of India?
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6411768aa37bb1a5e180e3e2- 1Nirmala Sitharamanfalse
- 2Dr. Ashok Lahirifalse
- 3N. K. Singhtrue
- 4Ajay Narayanfalse
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Answer : 3. "N. K. Singh "
Q: The Production of a commodity mostly through the natural process is an activity of–
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6336e2c193021d4ee41af39b- 1Primary Sectortrue
- 2Secondary Sectorfalse
- 3Tertiary Sectorfalse
- 4Technology Sectorfalse
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Answer : 1. "Primary Sector "
Explanation :
Explain: -The Production of a commodity mostly through the natural process is an activity of primary sector. For Example:– agriculture an agricultural products, fertilizers, animal husbandry etc
Q: The Removal of prohibitions and hindrance by the government is called.
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632c5e285c208a6bf7ebaca7- 1Globalisationfalse
- 2Privatisationfalse
- 3Liberalisationtrue
- 4Bilateral understanding.false
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Answer : 3. "Liberalisation "
Q: Multinational firm is–
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632c4aa65c208a6bf7eb3703- 1A company started by foreign governmentsfalse
- 2A single company established in different countriestrue
- 3A company in India started by U.S. governmentfalse
- 4A company started jointly by India and U.S. Ans.false
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Answer : 2. "A single company established in different countries "
Q: Arthashastra by “Kautilya” is related with–
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6336e0a45c208a6bf71b2a05- 1Military Phasefalse
- 2Political Reigntrue
- 3Social Phasefalse
- 4Economic Postulatesfalse
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Answer : 2. "Political Reign"
Explanation :
Expl:- The Kautilya’s Arthasastra is related to political reign. Arthastra is an ancient Indian treatise on statecraft, economic Policy and Military strategy, written in sanskrit.
The Arthashastra is an ancient Indian treatise on statecraft, economic policy and military strategy, written in Sanskrit.