Indian Economy MCQs
Indian Economy Multiple Choice Questions (MCQs) for SSC, State and all One Day Examinations of India. Objective Questions on Indian Economy for competitive examinations.
11. Which scenario best describes a Goldilocks economy?
[A] High inflation, High economic growth
[B] Low inflation, High economic growth
[C] Low inflation, Steady economic growth
[D] High inflation, Low economic growth
Show Answer
Correct Answer: C [Low inflation, Steady economic growth]
Notes:
A Goldilocks economy signifies a balance of low inflation and steady growth, avoiding extremes. The term is widely used in macroeconomics to represent optimal conditions for policy makers. It is named after the fairy tale character Goldilocks, indicating “just right” economic conditions.
12. Who among the following advocated the adoption of ‘ PURA’ model to eradicate rural poverty?
[A] Dr. A.P.J. Abdul Kalam
[B] Sri Abhijit Sen
[C] Moulana Abdul Kalam Azad
[D] Prof. A.M. Patha
Show Answer
Correct Answer: A [Dr. A.P.J. Abdul Kalam]
Notes:
PURA model to eradicate rural poverty was advocated by Dr. A.P.J. Abdul Kalam, theformer president of India. In PURA model (Provision of urban amenities to rural areas) he discussed about the development of the rural development in India.
13. Which of the following was the operational period of 12th Five Year Plan?
[A] 2007–12
[B] 2012–17
[C] 2015–20
[D] 2005–10
Show Answer
Correct Answer: B [2012–17]
Notes:
Twelfth Plan (2012–2017) of the Government of India has been decided to achieve a growth rate of 8.2% but the National Development Council (NDC) on 27 December 2012 approved a growth rate of 8% for the Twelfth Five-Year Plan.
14. Who is the author of Das Kapital?
[A] J S Mill
[B] Adam Smith
[C] Keynes
[D] Karl Marx
Show Answer
Correct Answer: D [Karl Marx]
Notes:
Das Kapital, a critique of political economy is a foundational theoretical text in materialist philosophy, economics and politics by Karl Marx . It was published in 1867.
15. Which country does Economist Dambisa Moyo belong to?
[A] Zambia
[B] Namibia
[C] Africa
[D] None of the above
Show Answer
Correct Answer: A [Zambia]
Notes:
Zambian-born economist Dambisa Moyo focuses on wealth and poverty in the global economy. A key critic on development aid for low-income economies, her work has earned her the Friedrich Hayek Institute’s lifetime achievement award.
16. Which economist wrote “The Presidency Banks and the Indian Economy”?
[A] Amit Mitra
[B] Amiya Kumar Bagchi
[C] Aravind Panagariya
[D] Bibek Debroy
Show Answer
Correct Answer: B [Amiya Kumar Bagchi]
Notes:
The Presidency Banks and the Indian Economy is written and published by Amiya Kumar Bagchi in 1989.
17. Which of the following measures are not for the protection of workers in the unorganized sector?
[A] Government fixing minimum wages and minimmum working hours
[B] Government providing cheap loans to self employed people
[C] Government providing subsidised food and education
[D] None of the above
Show Answer
Correct Answer: D [None of the above]
Notes:
All the given options are the measures taken by the government for the protection of workers in unorganized workers. Because of the conditions in the unorganized sector, there is a need for the government to give protection to these workers.
18. Which of the following is not an advantage of GM crops?
[A] High productivity
[B] Faster growth plants
[C] More productivity
[D] High prices to farmers
Show Answer
Correct Answer: D [High prices to farmers]
Notes:
The GM crops don’t give high prices to the farmers but give high returns to the farmers because of high productivity.
19. What is the growing of 2 crops per year in the same piece of land known as?
[A] Mixed farming
[B] Multiple cropping
[C] Mono Cropping
[D] None of the above
Show Answer
Correct Answer: B [Multiple cropping]
Notes:
Multiple cropping is the practice of growing two or more crops in the same piece of land during a single growing season. Ex: tomatoes + onions + marigold
20. Which is the largest oilseed producing state in India?
[A] Gujarat
[B] Maharashtra
[C] Karnataka
[D] Madhya Pradesh
Show Answer
Correct Answer: A [Gujarat]
Notes:
India’s largest oilseed producing state is Gujarat because of its position as the top groundnut producing state of India.
