Economics 10

Welcome to your Economics 10

1. The Per Capita Income in India was ` 20 in 1867-68 was ascertained for the first time by

a) Sir W. Hunter
b) M.G. Ranade
c) Dadabhai Naoroji
d) R.C. Dutta

(a)

(b)

(c)

(d)

2. The most appropriate measure of a country’s economic growth is its

a) Net Domestic Product
b) Gross Domestic Product
c) Per Capita Real Income
d) Net National Product

(a)

(b)

(c)

(d)

3. The most appropriate measure of a country’s economic growth is its

a) Net Domestic Product
b) Gross Domestic Product
c) Net National Product
d) Per capita real income

(a)

(b)

(c)

(d)

4. Consider the following stages of demographic transition associated with economic development:
(1)Low birth rate with a low death rate
(2)High birth rate with a high death rate
(3)High birth rate with a low death rate
Select the correct answer using the following codes:

a) 2, 1 and 3
b) 1, 2 and 3
c) 2, 3 and 1
d) 3, 2 and 1

(a)

(b)

(c)

(d)

5. Consider the following statements regarding Indian planning.
(1)The second five year plan emphasized on the establishment of heavy industries.
(2)The third five year plan aimed to achieve self-sufficiency in foodgrains and increase agricultural production to meet the requirements of industry and exports.
Which of the statements given above is/are correct?

a) 2 only
b) 1 only
c) Both 1 and 2
d) Neither 1 nor 2

(a)

(b)

(c)

(d)

6. ‘World Development Report’ is an annual publication of

a) United Nations Development Programme
b) International Bank of Reconstruction and Development
c) World Trade Organisation
d) International Monetary Fund

(a)

(b)

(c)

(d)

7. National product at factor cost is equal to

a) National product at market prices – indirect taxes + subsidies
b) Domestic product + Net factor income from abroad
c) Gross domestic-product – depreciation
d) National product at market prices + Indirect taxes + subsidies

(a)

(b)

(c)

(d)

8. The most simple and popular method of measuring economic development is to calculate the trend of Gross National Product (GNP) at

a) Constant prices
b) Current prices
c) None of the above
d) Both of the above

(a)

(b)

(c)

(d)

9. In India, rural incomes are generally lower than urban incomes. Which of the following reasons account for this?
(1)A large number of farmers are illiterate and know little about scientific agriculture.
(2)Prices of primary products are lower than those of manufactured products.
(3)Investment in agriculture has been lower when compared to investment in the industry

a) 1 and 2
b) 1, 2 and 3
c) 1 and 3
d) 2 and 3

(a)

(b)

(c)

(d)

10 . Consider the following statements:
(1)In India, more than 85% agriculture workers are mainly casual labourers.
(2)Agriculture labourers in India are mainly dominated by the backward classes.
Which of the statements given above is/are correct?

a) 1 and 2
b) 2 only
c) 1 only
d) None

(a)

(b)

(c)

(d)

11. In free economy, inequalities in income is due to

a) private property and inheritance
b) free competition
c) differences in the marginal productivity of labour
d) private property only

(a)

(b)

(c)

(d)

12. The term National Income represents

a) Gross National Product at market price minus depreciation plus net factor Income from abroad

b) Gross National Product at market price minus depreciation

c) Gross National Product at market price minus net factor income from abroad

d) Gross National Product at market price minus depreciation and indirect tax plus subsidies

(a)

(b)

(c)

(d)

13. Share of food in total consumption expenditure has been coming down as Per Capita Income grew over time in last sixty years because

a) people have been preferring non-cereal items in their food basket

b) people have been purchasing less food

c) growth in food expenditure has been lower than growth in per capita income

d) percentage of the poor in population has increased over time

(a)

(b)

(c)

(d)

14. Consider the following statements:
(1)Agriculture including allied activities accounted for about 55% employment in the country according to census 2011.
(2)The growth in agriculture and allied sectors is a necessary condition for inclusive growth in India.
Which of the statements given above is/are correct?

a) 1 and 2
b) 2 only
c) 1 only
d) None

(a)

(b)

(c)

(d)

15. As per 2011 census, arrange the following states/union territories in decreasing order of population.

a) Puducherry – Mizoram – Chandigarh – Sikkim

b) Chandigarh – Puducherry – Mizoram – Sikkim

c) Chandigarh – Puducherry – Sikkim – Mizoram

d) Puducherry – Chandigarh – Sikkim – Mizoram

()

16. Harrods-Domar model of growth is based on the concepts of and their equality.
(1)Population and productivity growth.
(2)Investment and average growth rate of income.
(3)Actual, warranted and natural growth rate.
(4)Productivity growth and investment growth. Codes:

a) 3 only
b) 1 and 4
c) 1 and 3
d) 1, 2 and 3

(a)

(b)

(c)

(d)

17. Which of the following would cause consumption to rise?

a) a greater proportion of the population is between age 20 and 30
b) the GDP Deflator rises
c) transitory income increases
d) income is taken from poor people and given to rich people

(a)

(b)

(c)

(d)

18. In which year was the 20 point economic programme was announced for the very first time?

a) 2006
b) 1975
c) 1986
d) 1982

(a)

(b)

(c)

(d)

19. The term mixed economy denoted the existence of both

a) private and public sector
b) rural and urban sector
c) heavy and small industry
d) developed and under developed sector

(a)

(b)

(c)

(d)

20. Indicate the vital change in the measurement of National Income of India.

a) Calculation has been changed from factor cost to market prices
b) Base year has been changed from 2004-05 to 2011-12
c) Both the base year and calculation method have been changed
d) Calculation has been changed from current prices to constant prices

(a)

(b)

(c)

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