Indian Economy Practice Question and Answer
8 Q: Which one of the following is not a clause of the World Trade Organisation?
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60125f788f4dda4a277cf829- 1Lowering trade barriers with negotiationsfalse
- 2Most favoured nation treatmentfalse
- 3Providing financial support to the countries having deficit balance of paymentstrue
- 4Discouraging unfair trade practices such as anti-dumping and export subsidiesfalse
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Answer : 3. "Providing financial support to the countries having deficit balance of payments"
Explanation :
Providing financial support to the countries having deficit balance of payments.
Q: At present, what kind of unemployment problem remains a very serious problem in the country?
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5f62def583fe9a4cdd3adc98- 1Rural unemploymentfalse
- 2Urban unemploymentfalse
- 3Educated unemploymenttrue
- 4Open unemploymentfalse
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Answer : 3. "Educated unemployment "
Q: Who gave priority to the Second Five Year Plan?
1225 05f9fc90033d1d86b9ab17635
5f9fc90033d1d86b9ab17635- 1Agriculturefalse
- 2Servicesfalse
- 3Heavy Industriestrue
- 4Foreign Tradefalse
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Answer : 3. "Heavy Industries"
Q: In which year Kisan Credit Card Scheme was launched?
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61139d8688e0566940a6f0a0- 11990false
- 21950false
- 31998true
- 42000false
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Answer : 3. "1998"
Q: The Micro, Small and Medium Enterprises Development Act was passed in the year ____.
1218 15fe2e3034c864b4aa0e43f83
5fe2e3034c864b4aa0e43f83- 12002false
- 22006true
- 32004false
- 42008false
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Answer : 2. "2006"
Explanation :
Notification for enforcement of MSME Act, 2006, The Provisions of the Micro, Small and Medium Enterprises Development Act, 2006 (27 of 2006) shall come into force from 2nd October, 2006.
Q: Who was the first to assess national income in India?
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5f029c62e890ce63e579d010- 1Dada Bhai Naorojitrue
- 2R.C.V Raofalse
- 3V.K.R.V Raofalse
- 4D .R. Gadanilfalse
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Answer : 1. "Dada Bhai Naoroji"
Q: Which of the following statements is correct?
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6336e8b55c208a6bf71b7807- 1Most workers will work for less than their reservation wagefalse
- 2The reservation wage is the maximum amount of any firm will pay for a workerfalse
- 3Economic rent is the difference between the market wage and the reservation wagetrue
- 4Economic rent is the amount one must pay to enter a desirable labour marketfalse
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Answer : 3. "Economic rent is the difference between the market wage and the reservation wage"
Q: Who introduced this definition of Mudra itself which creates Mudra?
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6052f54a4999e13f2a6bcf1b- 1Marshalfalse
- 2Hansonfalse
- 3Crowtherfalse
- 4Crowmertrue
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