Economics Multiple Choice Questions

Q11. The Per Capita Income in India was ` 20 in 1867-68 was ascertained for the first time by [UPSC (Pre) 2000]

(A) M.G. Ranade
(B) Sir W. Hunter
(C) R.C. Dutta
(D) Dadabhai Naoroji

Ans:(D) Dadabhai Naoroji


Q12. Which of the following statements is not true of the Indian Economy?     [UPPCS (Pre) 2010, 2012]

(A) Its share of world population is only 16%, but its share of world GDP is 1.6%
(B) The share of service sector in India’s GDP is only 25%
(C) 58% of its working population is engaged in agriculture, but the contribution of agriculture to the national income is 22%
(D) India occupies only 2.4% of the world’s geographical area

Ans:(B) The share of service sector in India’s GDP is only 25%


Q13. The growth rate of per capita income at current prices is higher than that of per capita income at constant prices, because the later takes into account the rate of    [Karnataka PSC (Pre) 2000]

(A) growth of population
(B) increase in price level
(C) growth of money supply
(D) increase in the wage rate

Ans:(B) increase in price level


Q14. The most simple and popular method of measuring economic development is to calculate the trend of Gross National Product   (GNP) at      [HPPSC (Pre) 2014]

(A) Current prices
(B) Constant prices
(C) Both of the above
(D) None of the above

Ans:(B) Constant prices


Q15. Which of the following methods is not being used in the unemployment estimation by the NSSO in India?     [UPPCS (Mains) 2005, 2016]

(A) Current monthly status
(B) Current daily status
(C) Current weekly status
(D) Usual principal status

Ans:(A) Current monthly status


Q16. One of the problems in calculating National Income in India is     [UKPSC (Pre) 2016 BPSC (Pre) 2018]

(A) Under-employment
(B) Inflation
(C) Low level of savings
(D) Non-monetised consumption

Ans:(D) Non-monetised consumption


Q17. National Planning Committee was set up by    [MPPCS (Pre) 2013]

(A) Jawahar Lal Nehru
(B) A. Dalal
(C) S. Bose
(D) L.B. Shastri

Ans:(C) S. Bose


Q18. Which was the final authority in India to approve Five Year Plans?    [MPPCS 2008]

(A) Union Council of Ministers
(B) Planning Commission
(C) Prime Minister
(D) National Development Council  (NDC)

Ans:(D) National Development Council  (NDC)


Q19. ….. got the highest priority during the first plan period in India.     [Tripura PSC (Pre) 2018 HCS (Pre) 2014]

(A) Self reliance
(B) Growth with social justice
(C) Development of agriculture including irrigation
(D) Removed of unemployment

Ans:(C) Development of agriculture including irrigation


Q20. Khadi and village industry commission was established in   [HCS (Pre) 2014]

(A) Third Plan
(B) Fourth Plan
(C) Second Plan
(D) First Plan

Ans:(C) Second Plan

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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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