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Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 37

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Free Download as PDF Economics Quiz Questions and Answers for Competitive Exams or solved MCQs with answers. These quiz objective questions are helpful for competitive exams SSC, UPSC, IAS, IPS, CDS, NDA, Railways or RRB, psc exams of Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Orissa, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttar Pradesh, West Bengal, Chhattisgarh, Uttarakhand, Jharkhand, Telangana etc.
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(1) The term HYVP in new agriculture strategy stands for
(1) High Yielding Variety Pesticides
(2) High Yielding Volume Production
(3) High Yielding Varieties Programme
(4) High Yielding Volume Programme
Answer: High Yielding Varieties Programme
(2) If more & more capital and labour are applied to a fixed piece of land, the system of cultivation of farming is known as
(1) Intensive cultivation
(2) Extensive cultivation
(3) Cooperative farming
(4) Double cropping
Answer: Intensive cultivation

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(3) Mention the crop where Green Revolution is the most successful one
(1) Tea & Coffee
(2) Wheat & Rice
(3) Wheat & Pulses
(4) Jowar & Oilseeds
Answer: Wheat & Rice
(4) Which of the following is not an item of social security of labour ?
(1) Wage
(2) Maternity benefits
(3) Pensions
(4) Industrial Injury Compensation
Answer: Wage
(5) Which of the following is correct about the Contingent Valuation Method (CVM) used in Environmental Economics ?
(1) It is used only for pollutants.
(2) It is used only for items with positive utilities.
(3) It is used for items under market failures.
(4) It is used only for natural resources
Answer: It is used for items under market failures.
(6) Which among the following is not a cause of sickness of industrial units in India ?
(1) Obsolescent technology
(2) Lack of capital account convertibility
(3) Labour problems
(4) Faulty location
Answer: Lack of capital account convertibility
(7) For the year 2012-13 procurement of wheat has been largest in which of the following States ?
(1) Punjab and U.P.
(2) U.P. and M.P.
(3) U.P. and Haryana
(4) Punjab and Haryana
Answer: Punjab and Haryana
(8) The base year for newly developed All India Consumer Price Index Number – Rural C.P.I and Urban C.P.I. is
(1) 2004 – 05
(2) 2006 – 07
(3) 2009 – 10
(4) 2010
Answer: 2010
(9) On the basis of 10 parameters for the ‘ease of doing business’, World Bank’s latest report, during the period July 2013 to May 2014, India has come to which of the following position ?
(1) 138
(2) 142
(3) 144
(4) 146
Answer: 142
(10) Which is false in following ?
(1) The duration of Tenth Five Year Plan was 2002-2007.
(2) Ryotwari tenure has been the intermediary in Indian land system.
(3) Zamindari system was introduced by Lord Dalhousie
(4) Mahalwari land tenure system was introduced in Agra and Oudh.
Answer: Zamindari system was introduced by Lord Dalhousie
(11) Which of the following States had the lowest women employment percentage under MNREGA programme during 2013-14 ?
(1) U.P. and Rajasthan
(2) Odisha and M.P.
(3) U.P. and Odisha
(4) Rajasthan and West Bengal
Answer: U.P. and Odisha
(12) Given total cost function C = 5Q2 + 20Q + 5, at price = ` 5 marginal cost is
(1) 100
(2) 200
(3) 85
(4) 70
Answer: 70
(13) For testing the significance of overall regression the test to be used is
(1) t Test
(2) F Test
(3) χ2 Test
(4) d Test
Answer: F Test
(14) Including relevant lagged values of the dependent variable on the right hand side of a regression equation could lead to which one of the following ?
(1) Biased but consistent coefficients’ estimates
(2) Biased and inconsistent coefficients’ estimates
(3) Unbiased and inconsistent coefficients’ estimates
(4) Unbiased and consistent coefficients’ estimates
Answer: Biased but consistent coefficients’ estimates
(15) Simplex method is used for solving the problems of
(1) Linear Programming
(2) Input Output Analysis
(3) Regression
(4) Correlation
Answer: Linear Programming

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