Economics - Online Test
Q1. Which is the apex institute at national level which provide re-finance facilities to institutions engaged in providing rural credit
Answer : Option B
Explaination / Solution:
National Bank for Agriculture and Rural Development bank has been entrusted with "matters concerning policy, planning and operations in the field of credit for agricultural and other economic activities in rural areas in India
Q2. Arrange these countries according to their HDI ranking from top to bottom (i) India (ii) China (iii) Pakistan. Options are as follow
Answer : Option D
Explaination / Solution:
The Human Development Index (HDI) is a composite statistic of life expectancy, education, and income per capita indicators. A country scores higher HDI when the life expectancy at birth is longer, the education period is longer, and the income per capita is higher.China is having HDI 0.917, India 0.624 and Pakistan 0.550
Q3. Which is the primary objective of economic planning in India
Answer : Option C
Explaination / Solution:
The primary motive of economic planning is to bring economic growth and reduce inquality in the country. Other than this, it also had other objectives like increase employment opportunities and attain self sufficiency.
Q4. The major source of Revenue receipts for the government is not
Answer : Option A
Explaination / Solution:
No Explaination.
Q5. When the distribution is negatively skewed
Answer : Option A
Explaination / Solution:
A distribution is negatively skewed the mean is usually lesser than the median and Median is lesser than Mode.
Q6. All those who are able to do work and are also willing to work but are not able to get proper work
Answer : Option C
Explaination / Solution:
Open unemployment is a situation where in a large section of the labour force does not get a job that may yield them regular income. This type of unemployment can be seen and counted in terms of the number of unemployed persons. The labour force expands at a faster rate than the growth rate of economy.
Q7. Final goods are those goods
Answer : Option C
Explaination / Solution:
No Explaination.
Q8. According to Marshall, the law of diminishing marginal utility applies on ___________?
Answer : Option B
Explaination / Solution:
No Explaination.
Q9. Opening up the Indian economy to foreign investors and allowing Indian investors to invest abroad
Answer : Option A
Explaination / Solution:
Globalisation is the integration of the domestic economy with the rest of the world through trade and capital (investment) flows.
Q10. Real exchange rate is the price of
Answer : Option B
Explaination / Solution:
Real exchange rate tells how much the goods and services in the domestic country can be exchanged for the goods and services in a foreign country.
