Economics Multiple Choice Questions


Q61. Paul Krugaman is a/an             [MPPCS (Mains) 2009]

(A) Scientist
(B) Sportsman
(C) Banker
(D) Economist

Ans:(D) Economist


Q62. For the existence of a market which is indispensable?                [MPPCS (Pre) 1997]

(A) Banks
(B) Economic laws
(C) Prices
(D) Trade unions

Ans:(C) Prices


Q63. Indian Economy is characterised as                      [UPPCS (Pre) 1995]

(A) backward economy
(B) developed economy
(C) developing economy
(D) underdeveloped economy

Ans:(C) developing economy


Q64. The Gandhian economy is based on the principle of             [UPPCS (Pre) 2013]

(A) Competition
(B) Trusteeship
(C) State control
(D) None of the above

Ans:(B) Trusteeship


Q65. Economically, one of the results of the British rule in India in the 19th century was the  [UPSC (Pre) 2018]

(A) increase in the export of Indian handicrafts
(B) growth in the number of Indian owned factories
(C) commercialisation of Indian agriculture
(D) rapid increase in the urban population

Ans:(C) commercialisation of Indian agriculture


Q66. In India, National Income is computed by which of the following?  [UPPCS (Pre) 1995, 2006]

(A) Planning Commission
(B) Ministry of Finance
(C) Central Statistical Organisation
(D) Reserve Bank of India

Ans:(C) Central Statistical Organisation


Q67. The national income of a country for a given period is equal to the    [UPSC (Pre) 2013]

(A) Total value of goods and services produced by the nationals
(B) Sum of total consumption and investment expenditure
(C) Sum of personal income of all individual
(D) Money value of final goods and services produced

Ans:(D) Money value of final goods and services produced


Q68. Which among the following sectors contribute most to GDP of India?      [MPPCS (Pre) 2008]

(A) Primary sector
(B) Secondary sector
(C) Tertiary sector
(D) All three contribute equally

Ans:(C) Tertiary sector


Q69. Which one of the following is the correct sequence in the decreasing order of contribution of different sectors to the Gross Domestic Product of India?     [UPSC (Pre) 2008]

(A) Service, Industry, Agriculture
(B) Service, Agriculture, Industry
(C) Industry, Service, Agriculture
(D) Industry, Agriculture, Service

Ans:(A) Service, Industry, Agriculture


Q70. Indicate the vital change in the measurement of National Income of India.     [RAS (Pre) 2015]

(A) Base year has been changed from 2004-05 to 2011-12
(B) Calculation has been changed from factor cost to market prices
(C) Calculation has been changed from current prices to constant prices
(D) Both the base year and calculation method have been changed

Ans:(D) Both the base year and calculation method have been changed

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Read More Sections of Indian Economy Objective Questions

Each section contains maximum 80 Questions. To practice more questions visit other sections.

 Indian Economy Objective Questions – Section-1


 Indian Economy Objective Questions – Section-2


 Indian Economy Objective Questions – Section-3


 Indian Economy Objective Questions – Section-4


 Indian Economy Objective Questions – Section-5


 Indian Economy Objective Questions – Section-6

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