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Structure and Characteristics of Indian Economy – 1 – 1

1. Which one of the following years has been adopted as a base year for estimating national income of the after 2010 ?

(a) 1999-2000
(b) 2002-2003
(c) 2004-2005
(d) 
 2008-2009

ANSWER

EXPLANATION

2. Who presented the first Union Budget of Independent India ?

(a) Morarji Desai
(b) John Mathai
(c) RK Shanmukham Chetty
(d) NK Chanda

ANSWER

EXPLANATION

3. What percentage of the total population of the world resides in India ;as estimated in 2011 ?

(a) 15
(b) 17.5
(c) 20
(d) 22.5

ANSWER

EXPLANATION

4. Which one of the following is the most appropriate method to measure the economic growth of a country ?

(a) National Income
(b) Net National Produce
(c) Gross Capital Formation
(d)
 Gross Domestic Product

ANSWER

EXPLANATION

5. In which of the following types of the economy are the factors of production owned individually ?

(a) Socialist
(b) Capitalist
(c) Mixed
(d) Both ‘a’ and ‘b’

ANSWER

EXPLANATION

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