Structure and Characteristics of Indian Economy – Exercise – 1

Structure and Characteristics of Indian Economy » Exercise – 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
Answer : (c)
Explanation
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2. Who presented the first Union Budget of Independent India ?

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

Answer
Answer : (c)
Explanation
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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
Answer : (b)
Explanation
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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
Answer : (d)
Explanation
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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
Answer : (b)
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