Economics Quiz 1

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Economics Quiz 1

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

1 point

Capitalist

Socialist

Mixed

Both 'a' and 'b'

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2. The most appropriate measure of a country's economic growth is its

1 point

Gross Domestic Product

Net Domestic Product

Net National Product

Per Capita Real Income

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3. Which committee was set up to review the concept of the poverty line?

1 point

S Tendulkar Committee

Lakdawala Committee

Wanchoo Committee

Dutt Committee

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4. To derive Net National Product at Factor Cost From Gross National Product at Factor Cost we need to

1 point

adjust the value of depreciation to it

deduct indirect taxes from it

deduct subsidies from it

add inflation to it

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5. Net Nation Product (NNP) of a country is

1 point

GDP minus depreciation allowances

GNP minus Net Income from Abroad

GNP minus depreciation allowances

GDP plus Net income from Abroad

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6. In India , the national Income is measured on the basis of

1 point

flow of goods only

number of employed youth only

Volume of tac collected per annum

All the above

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7. Economic liberalization in India started with

1 point

substantial changes in industrial licensing policy

the convertibility of Indian rupee

doing away with procedural formalities for foreign direct investment

significant reduction in tax rates

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8. In order to promote village industrialization ,Government of India has set up the Mahatma Gandhi Institute for Rural Industrialization in

1 point

Hyderabad

Wardha

Kolkata

Porbandar

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9. The states Financial Corporations have given assistance mainly to develop

1 point

agriculture farms

cottage industries

medium and small scale industries

large scale industries

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10.The first Chairman of Disinvestment Commission was

1 point

GV Ramkrishna

Madhu Dandavate

C Rangarajan

Indira Gandhi

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