Indian Economy Practice Question and Answer
8 Q: Which of the following is not included in the national income?
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5efbff36e824154f4027a1c1- 1win the lotterytrue
- 2Government expenditure incurred on construction of new bridgesfalse
- 3Charged rent of houses in owner's possessionfalse
- 4None of thesefalse
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Answer : 1. "win the lottery"
Q: To the economist, total cost includes 1520 05b5cc604e4d2b4197774b4c4
5b5cc604e4d2b4197774b4c4- 1neither implicit nor explicit costs.false
- 2implicit, but not explicit, costs.false
- 3explicit, but not implicit, cost.false
- 4explicit and implicit costs.true
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Answer : 4. "explicit and implicit costs."
Explanation :
Answer: D) explicit and implicit costs. Explanation:
Q: Which among the following formulates fiscal policy?
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5ec37a128463ff0219fff578- 1RBItrue
- 2Finance Ministryfalse
- 3SEBIfalse
- 4Planning Commissionfalse
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Answer : 1. "RBI "
Q: Which of the following activities are examples of data gathering? 3927 05b5cc601e4d2b4197774b458
5b5cc601e4d2b4197774b458- 1Counting the votes in an election to determine the next governortrue
- 2Making a pie chart showing the kinds of television sets owned by people in a sample of 1,000false
- 3Finding the mean weight of cancer patients in a studyfalse
- 4Using the results of a mathematical model to predict the next day's weatherfalse
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Answer : 1. "Counting the votes in an election to determine the next governor"
Explanation :
Answer: A) Counting the votes in an election to determine the next governor Explanation: Option A) "Counting the votes in an election to determine the next governor" is the only one where data gathering is done. In all other options, data is already collected and now analyzing of data is going on.
Q: Short-term finance is usually for a period ranging up to
2908 15d42ab8757579c3e8f509307
5d42ab8757579c3e8f509307- 15 monthsfalse
- 210 monthsfalse
- 312 monthstrue
- 48 monthsfalse
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Answer : 3. "12 months "
Q: In a cut motion, when the amount of demand is reduced by Rs 100/- , it is known as
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5d7b8785268c0f29d590e05d- 1Disapproval of policy cutfalse
- 2Economy cutfalse
- 3Vote on Accountfalse
- 4Token cuttrue
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Answer : 4. "Token cut"
Q: The Economic development depends on-
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5dc8e8e754f77a2c5d35c2a2- 1Natural resourcesfalse
- 2Capital formationfalse
- 3Size of the marketfalse
- 4All of thesetrue
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Answer : 4. "All of these"
Q: Which of the following industries has the highest labor force in India?
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5efbf5c3196e681f76e96f43- 1Cement Industryfalse
- 2textile industrytrue
- 3Jute Industryfalse
- 4Iron-steel industryfalse
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Answer : 2. "textile industry"
Explanation :
In 2021, 43.96 percent of the workforce in India were employed in agriculture, while the other half was almost evenly distributed among the two other sectors, industry and services. While the share of Indians working in agriculture is declining, it is still the main sector of employment.