IAS Previous Year ECONOMY Questions – Lecture – 3
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Q. 1) The most appropriate measure of economic growth of a country is its: (2001)
a) Gross Domestic Product
b) Net Domestic Product
c) Net National Product
d) Per Capita Real Income
Q.2) The growth rate of per capita income at current prices is higher than that of per capita income at constant prices, because the latter takes into account the rate of : (2000)
a) growth of population
b) increase in price level
c) growth of money supply
d) increase in the wage rate
Q.3) In an open economy, the national income (Y) of the economy is: (C, I, G, X, M stand for Consumption, Investment, Govt. Expenditure, total exports and total imports respectively): (2000)
a) Y = C + I + G + X
b) Y = I + G –X + M
c) Y = C + I + G + (X – M)
d) Y = C – G + I + (X – M)
Q.4) National Income of India is now measured by?
a) Net National Product at market price
b) Net National Product at factor cost
c) Gross Domestic Product at market price
d) Net Domestic Product at factor cost
Q.5) Given below are two statements, one labelled as
Assertion (A) and the other labelled as Reason (R): (1996) Assertion (A) : Though India’s national income has gone up several fold since 1947, there has been no marked improvement in the per capita income level.
Reason (R) : Sizeable proportion of the population of India is still living below the poverty line.
In the context of the above two statements which one of the following is correct?
a) Both A and R are true and R is the correct explanation of A
b) Both A and R are true but R is not a correct explanation of A
c) A is true but R is false
d) A is false but R is true
Q.6) Life expectancy is the highest in the world in ? (2003)
Q.7) Persons below the poverty line in India are classified as such based whether: (1999)
a) they are entitled to a minimum prescribed food basket
b) they get work for a prescribed minimum number of days in a year
c) they belong to agricultural labour household and the scheduled caste/tribe social group
d) their daily wages fall below the prescribed minimum wages