Question 1

An underdeveloped economy is characterized by

Accepted Answer

A) High per capita real income 
B) Large proportion of labor force in the tertiary sector 
C) State of deprivation of large proportion of population 
D) All the above 
A) High per capita real income 
B) Large proportion of labor force in the tertiary sector 
C) State of deprivation of large proportion of population 
D) All the above C

Question 2

Consider the following statements and identify the right ones.
i. Higher level of capital-output ratio indicates efficient use of capital.
ii. It reflects the productivity of capital in the economy

Accepted Answer

A) I only 
B) ii only 
C) both 
D) None of the above 
A) I only 
B) ii only 
C) both 
D) None of the above B

Question 3

Consider the following statements and consider the right ones.
i. In India, structure of economy and occupational structure is very similar.
ii. Today, Tertiary sector contributes the highest to the GDP.

Accepted Answer

A) I only 
B) ii only 
C) both 
D) None of the above 
A) I only 
B) ii only 
C) both 
D) None of the above B

Question 4

Capital formation in underdeveloped countries is a major bottleneck. The reason can be

Accepted Answer

A) Small size of market with no incentive for investment 
B) Low level of income 
C) vicious circle of poverty 
D) All the above 
A) Small size of market with no incentive for investment 
B) Low level of income 
C) vicious circle of poverty 
D) All the above

Question 5

Which of the following denotes an underdeveloped economy?

Accepted Answer

A) High level of inequalities 
B) Low level of capital productivity 
C) A relatively closed economy 
D) All the above 
A) High level of inequalities 
B) Low level of capital productivity 
C) A relatively closed economy 
D) All the above

Question 6

The state with lowest death rate is

Accepted Answer

A) West Bengal 
B) Haryana 
C) Bihar 
D) Kerala 
A) West Bengal 
B) Haryana 
C) Bihar 
D) Kerala

Question 7

Which of the following explains the term economic growth?

Accepted Answer

A) Increase in per capita production 
B) Increase in per capita real income 
C) structural change in the economy 
D) all the above are right 
A) Increase in per capita production 
B) Increase in per capita real income 
C) structural change in the economy 
D) all the above are right

Question 8

Which of the following explains the term economic development?

Accepted Answer

A) Improvement in the technology involved 
B) Improvement in production 
C) Improvement in distribution system 
D) All the above 
A) Improvement in the technology involved 
B) Improvement in production 
C) Improvement in distribution system 
D) All the above

Question 9

Which of the following about strategy of balanced growth is right?

Accepted Answer

A) Simultaneous investment in all sectors 
B) All sectors are independent. 
C) Both 
D) None of the above 
A) Simultaneous investment in all sectors 
B) All sectors are independent. 
C) Both 
D) None of the above

Question 10

Economic growth in India will happen necessarily if there is

Accepted Answer

A) Population growth 
B) Capital formation 
C) Technical progress in the global economy 
D) All the above 
A) Population growth 
B) Capital formation 
C) Technical progress in the global economy 
D) All the above

Question 11

Mixed economy means an economy where there is

Accepted Answer

A) Existence of capitalism 
B) Privatization, liberalization and globalization 
C) Existence of both public and private sectors 
D) Growing crops along with rearing animals 
A) Existence of capitalism 
B) Privatization, liberalization and globalization 
C) Existence of both public and private sectors 
D) Growing crops along with rearing animals

Question 12

Indian economy today is a
i. Developing economy
ii. Emerging economy
iii. Dual economy
iv. Non-agricultural economy

Accepted Answer

A) I and ii only 
B) I, ii and iii 
C) I, ii, iii, iv 
D) iii and iv 
A) I and ii only 
B) I, ii and iii 
C) I, ii, iii, iv 
D) iii and iv

Question 13

An open economy is one where

Accepted Answer

A) Deficit financing is absent 
B) No export activities 
C) No import activities 
D) Economy opened to the world 
A) Deficit financing is absent 
B) No export activities 
C) No import activities 
D) Economy opened to the world

Question 14

The additional capital used per unit of additional production is called

Accepted Answer

A) Induced investment 
B) Autonomous investment 
C) Incremental Capital Output ratio 
D) None of the above 
A) Induced investment 
B) Autonomous investment 
C) Incremental Capital Output ratio 
D) None of the above

Question 15

Depression is characterized by

Accepted Answer

A) unprecedented level of underemployment 
B) Drastic fall in income 
C) Drastic fall in output and employment 
D) All the above 
A) unprecedented level of underemployment 
B) Drastic fall in income 
C) Drastic fall in output and employment 
D) All the above

Question 16

Arrange in the right order the contribution of sectors to the GDP from highest to lowest.

Accepted Answer

A) Agriculture, manufacturing, tertiary 
B) Agriculture, tertiary, manufacturing 
C) Tertiary, manufacturing, agriculture 
D) Manufacturing, tertiary, agriculture 
A) Agriculture, manufacturing, tertiary 
B) Agriculture, tertiary, manufacturing 
C) Tertiary, manufacturing, agriculture 
D) Manufacturing, tertiary, agriculture

Question 17

Dual economy refers to existence of

Accepted Answer

A) Imports and export activities 
B) Bilateral ties 
C) Traditional and modern aspects in the economy 
D) Both a and b 
A) Imports and export activities 
B) Bilateral ties 
C) Traditional and modern aspects in the economy 
D) Both a and b

Question 18

Scarcity of capital, technological backwardness and unemployment are generally found in

Accepted Answer

A) Developed countries 
B) Underdeveloped countries 
C) Both 
D) None of the above 
A) Developed countries 
B) Underdeveloped countries 
C) Both 
D) None of the above

Question 19

Consider the following statements and identify the right ones.
i. The share of agriculture to the GDP today is less than 5% today
ii. The tertiary sector contributes about 55%of the occupational structure. (employment)

Accepted Answer

A) I only 
B) ii only 
C) both 
D) None of the above 
A) I only 
B) ii only 
C) both 
D) None of the above

Question 20

Which of the following about strategy of unbalanced growth is right?

Accepted Answer

A) Deliberate imbalance in favor of some sectors 
B) Simultaneous investment in all sectors 
C) Both 
D) None of the above 
A) Deliberate imbalance in favor of some sectors 
B) Simultaneous investment in all sectors 
C) Both 
D) None of the above

An underdeveloped economy is characterized by

Consider the following statements and identify the right ones. i. Higher level of capital-output ratio indicates efficient use of capital. ii. It reflects the productivity of capital in the economy

Consider the following statements and consider the right ones. i. In India, structure of economy and occupational structure is very similar. ii. Today, Tertiary sector contributes the highest to the GDP.

Capital formation in underdeveloped countries is a major bottleneck. The reason can be

Which of the following denotes an underdeveloped economy?

The state with lowest death rate is

Which of the following explains the term economic growth?

Which of the following explains the term economic development?

Which of the following about strategy of balanced growth is right?

Economic growth in India will happen necessarily if there is

Mixed economy means an economy where there is

Indian economy today is a i. Developing economy ii. Emerging economy iii. Dual economy iv. Non-agricultural economy

An open economy is one where

The additional capital used per unit of additional production is called

Depression is characterized by

Arrange in the right order the contribution of sectors to the GDP from highest to lowest.

Dual economy refers to existence of

Scarcity of capital, technological backwardness and unemployment are generally found in

Consider the following statements and identify the right ones. i. The share of agriculture to the GDP today is less than 5% today ii. The tertiary sector contributes about 55%of the occupational structure. (employment)

Which of the following about strategy of unbalanced growth is right?

Human Development Index HDI, Multidimensional Poverty Index MPI and Related Concepts

Indian Agriculture and Rural Development

Indian Industrial Policies and Reforms

Economic and Energy- India

Infrastructure, Economic Development, and Globalization

International Business and Economic Transactions

International Trade and Economic Integration

Filters

Exam 1: Economic Growth and Development: Understanding Underdeveloped Economies, Balanced and Unbalanced Growth Strategies, and the Indian Economy

An underdeveloped economy is characterized by

Consider the following statements and identify the right ones. i. Higher level of capital-output ratio indicates efficient use of capital. ii. It reflects the productivity of capital in the economy

Consider the following statements and consider the right ones. i. In India, structure of economy and occupational structure is very similar. ii. Today, Tertiary sector contributes the highest to the GDP.

Capital formation in underdeveloped countries is a major bottleneck. The reason can be

Which of the following denotes an underdeveloped economy?

The state with lowest death rate is

Which of the following explains the term economic growth?

Which of the following explains the term economic development?

Which of the following about strategy of balanced growth is right?

Economic growth in India will happen necessarily if there is

Mixed economy means an economy where there is

Indian economy today is a i. Developing economy ii. Emerging economy iii. Dual economy iv. Non-agricultural economy

An open economy is one where

The additional capital used per unit of additional production is called

Depression is characterized by

Arrange in the right order the contribution of sectors to the GDP from highest to lowest.

Dual economy refers to existence of

Scarcity of capital, technological backwardness and unemployment are generally found in

Consider the following statements and identify the right ones. i. The share of agriculture to the GDP today is less than 5% today ii. The tertiary sector contributes about 55%of the occupational structure. (employment)

Which of the following about strategy of unbalanced growth is right?

Human Development Index HDI, Multidimensional Poverty Index MPI and Related Concepts

Indian Agriculture and Rural Development

Indian Industrial Policies and Reforms

Economic and Energy- India

Infrastructure, Economic Development, and Globalization

International Business and Economic Transactions

International Trade and Economic Integration

Filters