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Deciphering the Economics

Indian Economy MCQ’S -02

Q1) Arrange the following events of China in chronological order and choose the correct alternative:

 (i) Special Economic Zones (SEZ)

 (ii) Great Proletarian Cultural Revolution (GPCR)

 (iii) Great Leap Forward Campaign (GLF)

 (iv) Economic reforms were initiated

Choose the correct alternative:

  1. (ii), (iv), (iii), (i)
  2. (iii), (ii), (iv), (i)
  3. (iv), (ii), (i), (iii)
  4. (iv), (i), (ii), (iii)

Ans.) 2 (GLF-1958, GPCR-1966, Economic Reforms-1978, SEZ-1979)

Q2) Read the following statements – Assertion (A) and Reason (R). Choose one of the correct alternatives given below:

Assertion (A): Removal of poverty remains a central concern of planning in India.

Reason (R): Development is not just about factories, dams, and other infrastructure, it is basically about human beings.

Alternatives:

  • Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
  • Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
  • Assertion (A) is true but Reason (R) is false.
  • Assertion (A) is false but Reason (R) is true.

Ans.) (b) Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Q3) Read the following statements – Assertion (A) and Reason (R). Choose one of the correct alternatives given below:

Assertion (A): According to the National Sample Survey, the proportion of poor is higher in rural India than in urban.

Reason (R): After independence, the growth rate of the industry has been lower than that of agriculture.

Alternatives:

  1. Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
  2. Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
  3. Assertion (A) is true but Reason (R) is false.
  4. Assertion (A) is false but Reason (R) is true.

Ans. Assertion (A) is true but Reason (R) is false.

Q4) States, where land reforms were successful on account of they being committed to the policy of ‘land to the tiller’, are:

  1. Kerela and Andhra Pradesh
  2. Punjab and Kerela
  3. Andhra Pradesh and West Bengal
  4. Kerela and West Bengal

Ans.) Kerala and West Bengal

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Q6) Which of the following is not true for small-scale industries? 

  1. SSI is labour intensive and therefore, employment-oriented.
  2. SSI needs small investment and is, therefore, equity-oriented.
  3. SSI is capital intensive and therefore, increases productivity.
  4. SSI shows locational flexibility and is, therefore, equality oriented.

Ans.) SSI is capital intensive and therefore, increases productivity.

Q7) In ________________, the Great Proletarian Cultural Revolution was introduced in China.

  1. 1966
  2. 1975
  3. 1985
  4. 1995

Ans.) 1966

Q8) Read the following statements – Assertion (A) and Reason (R). Choose one of the correct alternatives given below:

Assertion (A): International monetary fund was set in 1944.

Reason (R): To promote international monetary cooperation through a permanent institution that provides machinery for consultation and collaboration on international monetary problems.

Alternatives:

  1. Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
  2. Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
  3. Assertion (A) is true but Reason (R) is false.
  4. Assertion (A) is false but Reason (R) is true.

Ans.) 2. Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)


Q9) Read the following statements – Assertion (A) and Reason (R). Choose one of the correct alternatives given below:

Assertion (A): Second Five Year Plan emphasizes the establishment of heavy industries.

Reason (R): Third Five Year Plan introduced the concept of import substitution as a strategy of industrialization.

Alternatives:

  1. Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
  2. Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).
  3. Assertion (A) is true but Reason (R) is false.
  4. Assertion (A) is false but Reason (R) is true.

Ans.) 2. Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Q10) China is moving ahead of India and Pakistan is true for _________ indicator?

  1. GDP per capita
  2. The proportion of population below the poverty line
  3. HDI ranking
  4. All of the above

Ans.)  All of the above

Q11) Which duty has been removed to increase the competitive position on Indian goods in the international markets?

  1. Custom duty
  2. Export duty
  3. Import duty
  4. None of the above

Ans.)  Export duty

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Q13) A campaign in China in 1958 where people were encouraged to set up industries in their backyard was named as 

  1. Great Leap Forward
  2. Great Proletarian Cultural Revolution 
  3. Anti- rightist Movement
  4. Four Pests Campaign

Ans.) Great Leap Forward

Q14) Arrange the following states in chronological order as per the population below the poverty line in 2011-12 and choose the correct alternative:

  i) Uttar Pradesh

 ii) West Bengal

iii) Karnataka

iv) Gujarat

Choose the correct alternatives,

  1. (iii), (iv), (i), (ii)
  2. (i), (iii), (ii), (iv)
  3. (iv), (ii), (iii), (i)
  4. (ii), (i), (iii), (iv)

Ans.) 2

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