Development Economics Quiz | Development Economics Multiple Choice Questions and Answers

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Questions
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

Answer: Growth Recession
2 ‘Planning from below’ is known as:
A Functional planning
B Centralized planning
C Decentralized planning
D Structural planning

Answer: Functional planning
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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

Answer: Population Trap
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

Answer: Five
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

Answer: A.N. Caimcross
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

Answer: Constant prices
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

Answer: Simon Kuznets
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

Answer: 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

Answer: Tertiary
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

Answer: W. Arthur Lewis
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

Answer: 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

Answer: All of the above

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