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Indian Economy – Yearwise Qutions – Micro And Macro Economics – W.B.C.S. Mains Examination.
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WBCS Main Question Paper – 2019
- GDP (at market price) – NIT = ?
(A) NNP (at market price)
(B) GNP (at factor cost)
(C) NDP (at market price)
(D) NNP (at factor cost) - Who is the author of the book ‘Poverty and Un-British Rule in India’?
(A) Dadabhai Naoroji
(B) Amartya Sen
(C) Pranab Mukherjee
(D) Amit Mitra - GNP = GDP + X – M
where M means
(A) income earned and received by nationals within the boundaries of foreign countries
(B) income received by foreign nationals from within the country.
(C) volume of commodities and services produced during the accounting year
(D) indirect taxes and subsidies. - A currency with a value that fluctuates as a result of the country’s
political or economic uncertainty is known as
(A) Hard Currency
(B) Soft Currency
(C) Both (A) and (B)
(D) None of the above - A condition of slow economic growth and relatively high unemployment– economic stagnation – accompanied by rising prices is known as
(A) Stagflation
(B) Hyper-inflation
(C) Demand-pull inflation
(D) Cost push inflation - Industrial sickness due to the managerial incompetence and wrong
policies pursued deliberately for want of genuine stake is known as
(A) Genuine sickness
(B) Incipient sickness
(C) Induced sickness
(D) None of the Above - Since April 2014 the Reserve Bank of India has adopted the new
measure of inflation which is known as
(A) Consumer Price Index
(B) New Consumer Price Index
(C) Wholesale Price Index
(D) None of the above
WBCS Main Question Paper – 2018
- Women to men ratio in India as per 2011 Census is
a) 920 : 1000
b) 930 : 1000
c) 940 : 1000
d) 980 : 1000 - GDP at factor cost is
a) GDP minus indirect taxes plus subsides
b) GNP minus depreciation allowances
c) NNP plus depreciation allowances
d) GDP minus subsides plus indirect taxes - Who wrote a book describing the theory of economic drain of India during
British rule?
a) Late Lajpat Rai
b) Mahatma Gandhi
c) Jawaharlal Nehru
d) Dadabhai Naoroji - As per 2011 Census, the Indian State with highest literacy rate is
a) Goa
b) Kerala
c) Mizoram
d) Tripura - India is said to be in the second stage of demographic transition because
a) both birth and death rates are high.
b) birth rate is high but death rate is declining due to improving
healthcare
c) death rates and birth rates are falling
d) None of the above - In India GDP is higher than GNP because
a) Import is higher than exports
b) capital inflow is higher than capital outflow.
c) net factor income is negative
d) government expenditure is more than income - Select the correct answer about the Indian states in Health-Sector:
a) Kerala is the best performer in term of the expectancy at birth (both male and female) in last decade.
b) Madhya Pradesh the worst in terms of life expectancy at birth (both maleand female) in last five years.
c) The highest birth rate in India is found in Goa.
d) Both the statement given in (a) and (b) are correct. - National Income of India is compiled by
a) Finance Commission
b) Indian Statistical Institute
c) National Development Council
d) Central Statistical Organisation - People below poverty line in India are classified as such based on
whether
(based on the consumption expenditure)
a) they are entitled to a minimum prescribed food basket.
b) they get work for a minimum number of days in a year.
c) they belong to minority groups
d) their daily wages follows below prescribed minimum wages. - Which of the following is likely to cause current account deficit in India?
I. Reduced excise duties on Sports Utility Vehicles
II. Reduced duties on Gold
III. Ban of export of Onions
a) Both I & II
b) Both II & III
c) Only I & III
d) I, II & III - Which among the following is popularly known as mercantile law of
India?
a) Contract Law
b) Law of Torts
c) Labour Law
d) Property Law - National income calculated at current price in India has shown a
tendency to rise at a faster rate than national income at constant prices because
a) General price level has been rising fast
b) India’s population has been rising.
c) Base year chosen is abnormal
d) None of the above
WBCS Main Question Paper – 2017
- One of the problems in calculating the national income in India
correctly is
(A) under-employment
(B) inflation
(C) non-monetized consumption
(D) low savings - India’s wage policy is based on
(A) Cost of living
(B) Standard of living
(C) Productivity
(D) None of the above - Data of estimation of India’s National Income is issued by
(A) Planning Commission
(B) National Data Centre
(C) Central Statistical Organization
(D) None of the above - The most important source of capital formation in India has seen
(A) Household savings
(B) Public sector savings
(C) Government revenue surpluses
(D) Corporate savings - How much does the primary sector contribute to India’s GDP ?
(about 17% – 2019)
(A) 26%
(B) 20%
(C) 53%
(D) 14% - What base year is used to calculate per capita income in India ?
(base year – 2011-12 in 2019)
(A) 2004-05
(B) 2011-12
(C) 2001-02
(D) 2014-15 - Which is not added in the calculation of national income of India ?
(A) The value of goods and services
(B) The sold value of the old fridge
(C) Services rendered by the housewives
(D) Both (B) and (C) - Who among the following did not estimate the incidence of poverty in
India ?
(A) B. S. Minhas
(B) P. K. Bardhan
(C) V. M. Dandekar and N. Rath
(D) Raj Krishna - In India, which of the following affects poverty line the most ?
(A) Level of prices
(B) Production quantum
(C) Per capita income
(D) Quantum of gold reserve - Which of the following are the main causes of slow rate of growth of
per capita income in India ?
1. High capital – output ratio
2. High rate of growth of population
3. High rate of capital formation
4. High level of fiscal deficits
(A) 1, 2
(B) 2, 3, 4
(C) 1, 4
(D) All of the above - National Sample Survey Organisation (NSSO) was established in
(A) 1947
(B) 1948
(C) 1949
(D) 1950 - Which state has the highest per capita income in India ?
(A) Delhi
(B) Punjab
(C) Goa
(D) West Bengal - The average rate of domestic savings (gross) for the Indian economy
is currently estimated to be in the range of
(A) 15% to 20%
(B) 20% to 25%
(C) 25% to 30%
(D) 30% to 35% - Mixed economy means an economy where
(A) there is co-existence of public sector along with private sector.
(B) both agriculture and industry are equally promoted by the state.
(C) economy is controlled by military as well as civilian live.
(D) there is importance of small scale industries along with heavy
industries. - Which one of the following is / are a / an indicator of the financial
health of a country ?
(i) GDP
(ii) PPP
(iii) FDI in a year
(A) Only (i)
(B) Only (ii)
(C) Only (iii)
(D) All (i), (ii) & (iii) - The Human Development Index (HDI) is a composite of three
indicators such as
(A) longevity, educational attainment and standard of living
(B) longevity, poverty and change in output
(C) growth, poverty and educational attainment
(D) poverty, standard of living and educational attainment - Which one of the following is a driving force influencing the industrial
growth of an economy ?
(A) Economic factors only
(B) Investment only
(C) Innovation / Market base only
(D) All of the above - Consider the following statements :
(1) India’s GDP is more than its GNP.
(2) Net Factor Income from Abroad (NFIA) is positive for India.
Which of the statements given above is / are correct ?
(A) 1 only
(B) 2 only
(C) Both 1 and 2
(D) Neither 1 or 2 - In India, inflation is measured by
(A) wholesale price index number
(B) consumer price index number for urban non-manual workers
(C) net national product at market prices
(D) gross national product at market prices - How much population is living below poverty line in India ?
(A) Approx. 23.6 %
(B) Approx. 25%
(C) Approx. 26%
(D) Approx. 27% - India is regarded as a country with ‘Demographic Dividend’. This is
due to
(A) its high population in the age group below 15 years
(B) its high population in the age group of 15-64 years
(C) its high population in the age group above 65 years
(D) its high total population - The largest percentage of bonded labour in India belongs to
(A) scheduled castes
(B) scheduled tribes
(C) other backward classes
(D) None of the above - India opted for ‘mixed economy’ in
(A) framing of the constitution
(B) Industrial Policy of 1948
(C) Second Five Year Plan
(D) None of the above
WBCS Main Question Paper – 2016
- Consider the following specific stages of demographic transition
associated with economic development-
(1) Low birth rate with low death rate
(2) High birth rate with high death rate
(3) High birth rate with low death rate
Select the correct answer using the codes given below
(A) 1, 2, 3
(B) 2, 1,3
(C) 2, 3, 1
(D) 3, 2, 1 - What is the percentage of people below Poverty line according to
Rangarajan Committee ?
(A) 32 per cent
(B) 29.5 per cent
(C) 26 per cent
(D) 40 per cent - Which of the following benefits from inflation ?
(A) Lender
(B) Borrower
(C) Both
(D) None of the above - On the basis of the Report of the Census Commission, the biggest city
in India is-
(A) Kolkata
(B) Mumbai
(C) Delhi
(D) Nagpur - The contribution of agriculture and allied sectors to the Gross
Domestic Product of India in 2012-13 was —
(A) 15%
(B) 14.1%
(C) 17%
(D) 20% - Which of the following states has the literacy rate lower than the
national average ?
(A) Karnataka
(B) West Bengal
(C) Andhra Pradesh
(D) Maharashtra - Has the inequality of income been reduced very much because of
increased national income in India in the last three decades ?
(A) Yes
(B) No
(C) May be
(D) May be not - The average rate of domestic savings (gross) for the Indian economy is
currently estimated to be in the range of –
(A) 15 to 20 % (2019)
(B) 20 to 25 %
(C) 25 to 30 %
(D) 30 to 35 %
9.More than one-third of India’s population is concentrated in the states of
–
(A) Uttar Pradesh, Maharashtra, Bihar
(B) Uttar Pradesh, Bihar, Andhra Pradesh
(C) Uttar Pradesh, Tamil Nadu, West Bengal
(D) Uttar Pradesh, Maharashtra, Madhya Pradesh
- Which among the following items is taken as the real measure of a
country’s international competitiveness —
(A) Real Exchange Rate
(B) Nominal Exchange Rate
(C) Superfluous Exchange Rate
(D) None of the above - What are the conditions to be fulfilled by a country including India to
obtain structural adjustment loan from the World Bank ?
(A) Privatisation
(B) Liberalisation
(C) Globalisation
(D) All of the above - Devaluation of currency leads to —
(A) fall in domestic prices
(B) increase in domestic prices
(C) can’t be predicted
(D) None of the above - The components of HDI is / are
(A) Life expectancy index
(B) Infant mortality rate
(C) Population growth rate
(D) All of the above - Arrange the following Indian states in descending order from
urbanisation point of view.
(1) West Bengal
(2) Tamil Nadu
(3) Maharashtra
(4) Gujarat
Select the correct answer using the codes given below.
(A) 1, 2, 3. 4
(B) 2, 3, 4, 1
(C) 3, 4, 2, 1
(D) 4, 3, 2, 1 - The most important source of capital formation in India has been –
(A) Household saving
(B) Public sector saving
(C) Government revenue surpluses
(D) Corporate saving - In India, inflation measured by the –
(A) Wholesale Price Index Number
(B) Consumer Price Index for urban non-manual workers
(C) Consumer Price Index
(D) National Income Deflation - Economic growth in India will happen necessarily if there is –
(A) Population growth
(B) Capital formation
(C) Technical progress in the global economy
(D) All of the above - In India, inflation measured by the –
(A) National Income Deflation
(B) Whole sale Price Index Number
(C) Consumer Price Index
(D) None of the above - What is the Global rank of India in terms of its purchasing power parity ?
(A) 3rd
(B) 5th
(C) 10th
(D) 17th - Factors responsible for current inflation are —
(A) circulation of black money
(B) government expenditure on subsidy
(C) excess of demand over supply of goods
(D) All of the above - Which of the following governmental steps has proved relatively
effective on controlling the double digit rate inflation in the Indian economy
during recent years ?
(A) Containing budgetary deficits and unproductive expenditure
(B) Streamlined public distribution system
(C) Enhanced rate of production of all consumer goods
(D) Pursuing an export oriented strategy - India is regarded as a country with ‘Demographic Divide’. This is due
to –
(A) its high population in the age group below 15 years
(B) its high population in the age group below 15 – 64 years
(C) its high population in the age group above 65 years
(D) its high total population
WBCS Main Question Paper – 2015
- World Trade Organisation (WTO) advised less developed countries to
(A) Impose export subsidy
(B) Practice exchange control measures
(C) Practice market opening and free trade in goods and services
(D) None of the above - Advantages of foreign capital are found in this way (find correct
statement)
(A) It is often speculative and creates uncertainty in capital market
(B) It may bring unsuitable technology
(C) It bridges the gap between domestic investment and savings
(D) It results in economic drain - If withdrawal of workers from employment does not create output
loss, this is
(A) Search unemployment
(B) Voluntary unemployment
(C) Disguised unemployment
(D) Frictional unemployment - Which of the following is not true about Indian economy
(A) The contribution of the primary sector in the GDP is increasing
regularly
(B) The share of its tertiary sector increased
(C) The share of the secondary sector never crossed 40%
(D) It is an agrarian economy directly shifting towards service economy
5. The decade 1965-1975 witnessed, in India
(A) Very high growth of Industries
(B) High growth of Industries
(C) Stagnation
(D) None applies
- A closed economy is in which
(A) money supply is fully controlled
(B) deficit financing takes place
(C) only export is there
(D) neither export nor import takes place
- Major burden of excise tax falls on
(A) Very wealthy persons
(B) Rich persons
(C) Low middle class and poor persons
(D) None of the above
WBCS Main Question Paper – 2014
- ‘Fiscal Drag‘ implies –
(A) A situation where inflation pushes income into higher tax bracket
creep
(B) The situation of decrease in income taxes
(C) A situation of increase in real purchasing power
(D) None of the above - Poverty in less developed countries largely due to
(A) Voluntary idleness
(B) Income inequality
(C) Lack of cultural activities
(D) Lack of intelligence of the people - National Income of India is measured by –
(A) C.S.O.
(B) Planning Commission
(C) Finance Ministry
(D) R.B.I - Merit goods are those goods in which
(A) The social benefit is much greater than the sum of private benefits to individual consumers
(B) The private benefits is much greater than the social benefit
(C) The Benefits are equal
(D) None of the above - Devaluation of currency by a country is meant to lead to –
(i) expansion of import trade
(ii) promotion of import substitution
(iii) expansion of export trade
(iv) All the above Options :
(A) (i) only
(B) (ii) and (iii)
(C) (i) and (ii)
(D) (iv) - D. A. (Dearness Allowance) is paid on the basis of –
(A) Standard of living
(B) Per capita Income
(C) Consumer Price index
(D) National Income
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