Practice Question and Answer

Q:

A ‘Transfer Income’ is an–

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  • 1
    Income which is not produced by any production process
    Correct
    Wrong
  • 2
    Income taken away from one person and given over to another
    Correct
    Wrong
  • 3
    Unearned income
    Correct
    Wrong
  • 4
    Earned income
    Correct
    Wrong
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Answer : 1. "Income which is not produced by any production process"
Explanation :

Income which is not produced by any production process  is called transfer income. It is generally money received by  an individual or family from the state or other body, often the  pension or unemployment benefit.


Q:

GDP at factor cost equals–

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    GDP – Indirect Tax + Subsidy
    Correct
    Wrong
  • 2
    GNP – depreciation
    Correct
    Wrong
  • 3
    NNP + depreciation
    Correct
    Wrong
  • 4
    GDP – subsidy + indirect tax.
    Correct
    Wrong
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Answer : 1. "GDP – Indirect Tax + Subsidy"

Q:

A rising per Capita Income will indicate a better welfare if it is accompanied by –

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    Unchanged Income distribution overall.
    Correct
    Wrong
  • 2
    Changed Income distribution in favour of rich.
    Correct
    Wrong
  • 3
    Changed Income distribution in favour of poor.
    Correct
    Wrong
  • 4
    Changed Income distribution in favour of Industrial Labour.
    Correct
    Wrong
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Answer : 3. "Changed Income distribution in favour of poor."
Explanation :

A rising per Capita Income will indicate a better welfare if it is accompanied by changed Income distribution in favour of Poor.

Q:

The Effect of ‘Investment Multiplier’ is shows on–

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  • 1
    Employment
    Correct
    Wrong
  • 2
    Savings
    Correct
    Wrong
  • 3
    Income
    Correct
    Wrong
  • 4
    Consumption
    Correct
    Wrong
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Answer : 3. "Income "
Explanation :

Investment multiplier means those elements by which investment is increased and due to increasing of investment. There is increase in income and production. So effect of ‘Investment Multiplier’, according to above options is shown on income

Q:

Personal Income produced in a country is not included in–

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  • 1
    Production income from NDP
    Correct
    Wrong
  • 2
    Net Production Income from foreign.
    Correct
    Wrong
  • 3
    Transfer Income from government
    Correct
    Wrong
  • 4
    Current Payment on Foreign loans.
    Correct
    Wrong
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Answer : 4. "Current Payment on Foreign loans."
Explanation :

The Current payment on foreign loans are not included in personal Income. In economics, personal income refers to an individual’s total earnings from wages, investment enterprises, and other ventures. It is the sum of all the incomes received by all the individuals or household during a given period.

Q:

In which Indian state is the place where the Dandi Salt March took place today?

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    Kerala
    Correct
    Wrong
  • 2
    Kashmir
    Correct
    Wrong
  • 3
    Gujarat
    Correct
    Wrong
  • 4
    Delhi
    Correct
    Wrong
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Answer : 3. "Gujarat"
Explanation :

1. The place where Dandi Salt March was carried out is today located in Gujarat state of India.

2. This place is on the coast of Arabian Sea near Dandi city.

3. Dandi March lasted from March 12, 1930 to April 6, 1930.

4. This journey was led by Mahatma Gandhi.

5. The purpose of this journey was to protest against the salt monopoly imposed by the British government.

Q:

Name the Indian classical dance form which is believed to be revealed by Lord Brahma to Bharata, a famous sage, who then codified this sacred dance in a Sanskrit text called ‘Natya Shastra”.

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  • 1
    Kathak
    Correct
    Wrong
  • 2
    Odissi
    Correct
    Wrong
  • 3
    Bharatanatyam
    Correct
    Wrong
  • 4
    Kathakali
    Correct
    Wrong
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Answer : 3. "Bharatanatyam "
Explanation :

1. Bharatanatyam is a fully developed dance form in Indian classical dance, which includes dance, music, singing and acting.

He was revealed by Lord Brahma to a famous sage Bharata.

2. Who then codified this sacred dance in a Sanskrit text called Natya Shastra.

3. Bharatanatyam is considered to be the oldest classical dance style of South India.

Q:

In India, which of the following is NOT an objective of the National Manufacturing Policy?

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  • 1
    To increase the sectoral share of manufacturing in GOP to at least 25% by 2022.
    Correct
    Wrong
  • 2
    To double the exports of manufacturing goods by 2022.
    Correct
    Wrong
  • 3
    To increase the rate of job creation so as to create 100 million additional jobs by 2022.
    Correct
    Wrong
  • 4
    To enhance global competitiveness, domestic value addition, technological depth and environmental sustainability of growth.
    Correct
    Wrong
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Answer : 2. "To double the exports of manufacturing goods by 2022."
Explanation :

In India, the following are the main objectives of the National Manufacturing Policy.

1. To increase the sectoral share of manufacturing in GOP to at least 25% by 2022.

2. To increase the rate of job creation so as to create 100 million additional jobs by 2022.

3. To enhance global competitiveness, domestic value addition, technological depth and environmental sustainability of growth.

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