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 Indian Economy Questions

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Q:

The period of Eleventh Five Year Plan is

A) 2005 to 2010 B) 2006 to 2011
C) 2007 to 2012 D) 2008 to 2013
 
Answer & Explanation Answer: C) 2007 to 2012

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Q:

Which state of India has recorded the highest rate of population growth in the last Census 2001

A) Gujarat B) Manipur
C) Nagaland D) Haryana
 
Answer & Explanation Answer: C) Nagaland

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Q:

Among the following rivers which one is the largest

A) Godavari B) Kaveri
C) Yamuna D) Krishna
 
Answer & Explanation Answer: A) Godavari

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Q:

Which one of the following is NOT amethod of measurement of National Income

A) Value added method B) Income method
C) Expenditure method D) Investment method
 
Answer & Explanation Answer: D) Investment method

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Q:

Which of the following is the scheme for which entire premium of the assured person is paid by the Central Government

A) Jawahar Bhima Yojana B) Shiksha Sahyog Yojana
C) Swarnajayanti Shahari Rozagar Yojana D) None of these
 
Answer & Explanation Answer: B) Shiksha Sahyog Yojana

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Q:

Which statement describes the term salary?

A) Salary refers to the fixed amount paid on a daily basis. B) Salary refers to the varying amount paid on a daily basis.
C) Salary refers to the fixed amount paid on a weekly, bi-weekly, or monthly basis. D) None of the above
 
Answer & Explanation Answer: C) Salary refers to the fixed amount paid on a weekly, bi-weekly, or monthly basis.

Explanation:

A salary is best described as a fixed amount of income that is paid to an individual on a weekly, bi-weekly or monthly basis.

 

A salary can also be described as the annual earnings paid out over a year.

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Q:

What is CPC  ?

A) Central Person scheme B) Central Pay commission
C) Central Paid determination D) Central Pay scheme
 
Answer & Explanation Answer: B) Central Pay commission

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Q:

The Income elasticity demand for farm products is

A) High in India B) No demand at all
C) Very low in India D) High supply and no demand
 
Answer & Explanation Answer: C) Very low in India

Explanation:

Income easticity of demand measures the responsiveness of demand for any goods to changes in income. With increase in incomes generally the demand for farm products like rice wheat etc, will not change drastically. With income increase, demand for luxuries such as consumer durables etc will increase. The income elasticity  of demand for farm products is thus low.

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