Economics Questions and Answers - Set 9 | Indian Economy Solved Multiple Choice Questions(MCQs)

1 Who amongst the following made the following statement ? “The Table of nature is laid for the few. Those who come uninvited will starve”

1 Julius Simon

2 E. Boserup

3 T.W. Malthus

4 H. Dalton

View Answer

Answer:T.W. Malthus

2 Which of the following is not part of a life - table ?

1 It shows age - specific death rate

2 Age - specific life expectancy can be estimated

3 Probability of surviving at particular year of age can be estimated

4 Age - specific birth rate can be estimated

View Answer

Answer: Age - specific birth rate can be estimated

3 Pollution is an example of Market failure because :

1 The market price is less than the efficient price

2 The market price is higher than the efficient price

3 Property rights are poorly distributed

4 Those who suffer from pollution are compensated outside the market

View Answer

Answer:The market price is less than the efficient price

4 “For goods that are unrelated in consumption, efficiency requires that tax rates be inversely proportional to elasticity of demand”. This is the definition of :

1 The benefits - received principle

2 The second best principle

3 The inverse elasticity rule

4 The Ramsey Rule

View Answer

Answer: The Ramsey Rule

5 A forward - shifted tax will affect :

1 Buyers and Sellers equally

2 Sellers more than buyers

3 government revenue negatively

4 Buyers more than sellers

View Answer

Answer: Buyers more than sellers

6 The case for progressive tax rates rests on :

1 Benefits received

2 Cost of service

3 Ability to pay

4 None of the above

View Answer

Answer:Ability to pay

7 Primary deficit is measured by :

1 Fiscal deficit − interest payments

2 Budget deficit − interest payments

3 Budget deficit + total borrowings

4 Total Revenue expenditure −total revenue receipts

View Answer

Answer:Fiscal deficit − interest payments

8 Which organisation in India has been given the responsibility to monitor the progress of sustainable development goals ?

1 Reserve Bank of India

2 Central Statistical Office

3 NITI Aayog

4 National Sample Survey office

View Answer

Answer:NITI Aayog

9 Which of the following does not come under Small Savings Schemes as per Government of India ?

1 Post office deposits

2 Public Provident Fund

3 Jan Dhan Accounts

4 Sukanya Samiridhi Yojana

View Answer

Answer: Jan Dhan Accounts

10 Which one of the following schemes provide upto ` 2 lacs accidental death Insurance to the people in the age group of 18 - 70 years ?

1 Atal Pension Yojna

2 Pradhan Mantri Jeevan Jyoti Bima Yojna

3 Pradhan Mantri Suraksha Bima Yojna

4 Atal Jeevan Beema Yojna

View Answer

Answer:Pradhan Mantri Suraksha Bima Yojna

11 An entrepreneur’s short - run total cost function is C=q3−10q2+17q+66. If p=5 the output at which profit is maximised by this entrepreneur is :

1 7

2 6

3 5

4 2/3

View Answer

Answer:7

12 The production function in Input - Output Analysis propounded by W.W. Leontief has implied the value of elasticity of substitution between inputs as :

1 One

2 Zero

3 Constant

4 Infinity

View Answer