Indian Economy Quiz 6

Production function expresses

Which one of the following is not a characteristic of the population of a developed country?

Which plan gave emphasis on removal of poverty for the first time?

GDP at Factor Cost is

“Interest is a reward for parting with liquidity” is according to

Extension or contraction of quantity demanded of a commodity is a result of a change in the

Cross elasticity of demand between petrol and car is

‘Supply creates its own demand’. This statement is related to

FERA in India has been replaced by

National Income Estimates in India are prepared by

The term ‘Mixed Economy’ denotes

The Law of Demand expresses

A situation where we have people whose level of income is not sufficient to meet the minimum consumption expenditure is considered as

Full convertibility of a rupee means

India is called a mixed economy because of the existence of
1. Public Sector
2. Private Sector
3. Joint Sector
4. Cooperative Sector

the present Indian monetary system is based on

Gross Domestic Product is defined as the value of all

An exceptional demand curve is one that moves

Production function explains the relationship between

The Draft of the Five Year Plans in India is approved by the

The term stagflation refers to a situation where

If two commodities are complements, then their cross-price elasticity is

Opportunity cost of production of a commodity is

Surplus earned by a factor other than land in the short period of referred to as

Who is the Ex-officio Chairman of the Niti Aayog?

Which from the following is not true when the interest rate in the economy goes up?

Which one of the following is not a method of measurement of National Income?

Labour Intensive Technique would get chosen in a

Which one of the following would not constitute an economic activity?

Net National Product of a country is

Brain drain

Formalised system of trading agreements with groups of countries is known as

Which one of the following is not a method of estimating National Income?

The monetary policy is India is formulated by

A short-term government security paper is called

Under which market condition do firms have excess capacity?

Price theory is also known as

National Income is the

The exchange of commodities between two countries is referred as

A want becomes a demand only when It is backed by the

The terms “Micro Economics” and “Macro Economics” were coined by

During periods of inflation, tax rates should

Which is the biggest tax paying sector in India?

“Economics is what it ought to be” – This statement refers to

The excess of price a person is to pay rather than forego the consumption of the commodity is called

The existence of a parallel economy or Black Money

Which of the following taxes are levied and collected by the centre but their net proceeds are wholly transferred to states?

Census of population in India is done after every

When the price of a commodity falls, we can expect

According to the Suresh Tendulkar Committee which came out with fresh data on poverty, the Below Poverty Line (BPL) number is now