Indian Economy Practice Question and Answer
8 Q: In which country did the Industrial Revolution first take place?
1163 061139258f65c04691bf240a5
61139258f65c04691bf240a5- 1Englandtrue
- 2Francefalse
- 3Germanyfalse
- 4Indiafalse
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Answer : 1. "England"
Q: Values of total goods and services produced in a country is its _____.
1163 05f437c5d77e1d45e845c02fc
5f437c5d77e1d45e845c02fc- 1Gross Revenue Incomefalse
- 2Gross Domestic Producttrue
- 3Total Goods Revenuefalse
- 4Total Incomefalse
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Answer : 2. "Gross Domestic Product "
Q: Inflation in India is measured on which of the following indexes / indicators?
1161 06023ed55e4d6c265698f905a
6023ed55e4d6c265698f905a- 1Gross Domestic Product (GDP)false
- 2Wholesale Price Index (WPI)true
- 3Cost of Living Index (CLI)false
- 4Consumer Price Index (CPI)false
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Answer : 2. "Wholesale Price Index (WPI)"
Q: Which of the following is considered a capital expense?
1161 064c3960f29beb3482a3bcc49
64c3960f29beb3482a3bcc49- 1Pensionfalse
- 2Payment of salariesfalse
- 3Subsidiesfalse
- 4Construction of school buildingstrue
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Answer : 4. "Construction of school buildings"
Explanation :
1. Capital expenditure is money spent by the government on the development of machinery, equipment, buildings, health facilities, education etc.
2. It also includes expenditure by the government on the acquisition of fixed assets like land and investments which give future profits or dividends.
3. Creation of assets as well as repayment of loans is also capital expenditure, as it reduces liability.
Q: How much of India's population is dependent on agricultural industry?
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5f7d4e1590b25c12b1ef7384- 160%false
- 270%false
- 358.9%true
- 4Othersfalse
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Answer : 3. "58.9%"
Q: What is the purpose of economic activities? Both
1158 05f7d50403c7d8710e0147a08
5f7d50403c7d8710e0147a08- 1Livelihoodtrue
- 2Entertainmentfalse
- 3A) and (B)false
- 4None of thesefalse
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Answer : 1. "Livelihood"
Q: Which of the following region contributes most to India's GDP?
1157 05f62de88d00d384a6bc04acd
5f62de88d00d384a6bc04acd- 1primary sectorfalse
- 2Secondary sectorfalse
- 3Tertiary sectortrue
- 4None of thesefalse
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Answer : 3. "Tertiary sector "
Q: Which economist prepared the first human development index?
1154 05f7d51623371cf6f4d4e545b
5f7d51623371cf6f4d4e545b- 1Prof. Amartya Senfalse
- 2Mehboob-ul-Haqtrue
- 3Dr. Manmohan Singhfalse
- 4None of thesefalse
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