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Free download in PDF Development Economics Multiple Choice Questions and Answers for competitive exams. These short objective type questions with answers are very important for Board exams as well as competitive exams. These short solved questions or quizzes are provided by Gkseries.
(1)
An expression coined by economists to describe im economy that is growing at such a slow pace that more jobs are being lost than are being added:
[A]
Growth Recession
[B]
Stagflation
[C]
Recession
[D]
Ritchet Inflation
(2)
‘Planning from below’ is known as:
[A]
Functional planning
[B]
Centralized planning
[C]
Decentralized planning
[D]
Structural planning
Answer: Functional planning
(3)
When the population growth rate of an economy becomes greater than the achievable economic growth rate, it is known as:
[A]
Population Trap
[B]
Population Explosion
[C]
Population Crisis
[D]
None of the above
(4)
_________ got the highest priority during the first plan period in India.
[A]
Development of Agriculture including irrigation
[B]
Growth with social justice
[C]
Self reliance
[D]
Removal of unemployment
Answer: Development of Agriculture including irrigation
(5)
Most of the underdeveloped economies suffer from ____ which do not let the rate of growth go up from a lower level.
[A]
High level of technological unemployment
[B]
High infant mortality
[C]
Hugh monetary mismanagement
[D]
High population pressures
Answer: High population pressures
(6)
According to W.W. Rostow, the stages of economic growth are:
[A]
Five
[B]
Four
[C]
Two
[D]
None of the above
(7)
Which among the following is a characteristic of underdevelopment?
[A]
High rate of urbanization
[B]
Growth of industries
[C]
Vicious circle of poverty
[D]
None of the above
Answer: Vicious circle of poverty
(8)
“Underdeveloped countries are the slums of the world Economy.” This statement is by
[A]
A.N. Caimcross
[B]
Jagdish Bhagwati
[C]
Ragnar Nurkse
[D]
Colin Clark
(9)
By __ growth rate of an economy can be speeded up.
[A]
Investment in human capital formation
[B]
Investment abroad
[C]
Investment in share market
[D]
Investment in primary sector
Answer: Investment in human capital formation
(10)
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]
Both of the above
[D]
None of the above
(11)
The credit of developing the concept of modern economic growth goes to:
[A]
Simon Kuznets
[B]
Arthur Lewis
[C]
Michael P. Todaro
[D]
None of the above
(12)
What have been the reasons of deficit in India’s Balance of Trade in the past?
[A]
High cost and low quality production
[B]
Modest growth of exports
[C]
Very large rise in imports
[D]
All of the above
(13)
A high average level of rear income per head is always associated with a high proportion of the working population engaged in __________ sector.
[A]
Tertiary
[B]
Primary
[C]
Secondary
[D]
None of the above
(14)
Natural resources determine the course of development and constitute the challenge which may not be accepted by the human mind. “Who has said it”?
[A]
Jan Tinbergen
[B]
J.I. Fisher
[C]
W. Arthur Lewis
[D]
None of the above
(15)
Which among the following is NOT a correct statement?
[A]
The founder of Welfare economics was Alfred Marshall.
[B]
Welfare economics is also called ‘economics with a heart’.
[C]
Welfare economics is based on value judgements.
[D]
Welfare economics focuses on questions about equity as well as efficiency.
Answer: The founder of Welfare economics was Alfred Marshall.
(16)
Who is the ‘lender of the last resort’ in the banking structure of India?
[A]
Reserve Bank of India
[B]
State Bank of India
[C]
EXIM Bank of India
[D]
Union Bank of India
Answer: Reserve Bank of India
(17)
____ is the official minimum rate at which the Central Bank of a country is prepared to rediscount approved bills held by the commercial banks.
[A]
Reverse repo rate
[B]
Repo rate
[C]
Prime lending rate
[D]
Bank rate
(18)
In order to control credit, Reserve Bank of India should:
[A]
Decrease CRR and reduce Bank rate
[B]
Increase CRR and increase Bank rate
[C]
Reduce CRR and increase Bank rate
[D]
Increase CRR and decrease Bank rate
Answer: Increase CRR and increase Bank rate
(19)
Which among the following is a function of the Reserve Bank of India?
[A]
Banks under write the securities issued by public or private organizations
[B]
Accepting deposits from the public
[C]
Bank issues the letters of credit to their customers certifying their creditability
[D]
Collecting and compilation of statistical information relating to banking & other financial sectors
Answer: Collecting and compilation of statistical information relating to banking & other financial sectors
(20)
Credit creation power of the commercial banks gets limited by which of the following?
[A]
Credit policy of the central bank
[B]
Banking habits of the people
[C]
Cash reserve ratio
[D]
All of the above
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