Economic and Social Development - Online Test
Q1. Laspeyre’s index formula uses the weights of the
Answer : Option B
Explaination / Solution:
In case of calculating the price index, assuming that for individual item price at the base period.
Q2. Source of human capital formation is
Answer : Option B
Explaination / Solution:
Health and education are two integral aspects in human capital formation. It is only a healthy person who can contribute to society and the nation. Therefore expenditure on health is important to build and sustain a healthy nation.
Q3. It is the process of arranging things in groups or classes according to their resemblances
Answer : Option B
Explaination / Solution:
The process of arranging data into homogenous group or classes according to some common characteristics present in the data is called classification.
Q4. ___________ arises when there is an excess of demand for goods over their supply
Answer : Option A
Explaination / Solution:
Demand pull inflation is asserted to arise when aggregate demand in an economy out places aggregate supply resulting in a rise in the general price level.
Q5. APC =
Answer : Option B
Explaination / Solution:
No Explaination.
Q6. What was the rate of growth of real output in our country during the first half of the twentieth century
Answer : Option D
Explaination / Solution:
During the first half of the twentieth century of Indian economy remained almost stagnant. This was clear from the fact that for almost a century, the average annual growth rate of per capita income in India was not more than 0.5%.
Q7. Which of the following is one dimensional diagram?
Answer : Option B
Explaination / Solution:
A diagram in which the size of only one dimension i.e. length is fixed in proportion to the value of the data is called one dimensional diagram. Such diagrams are also popularly called bar diagrams.
Q8. Agricultural diversification means __________ of the __________ labour force in the agricultural sector needs to find alternate employment opportunities in other non-farm sectors
Answer : Option C
Explaination / Solution:
Agriculture diversification refers to the reallocation of some of farm's productive resources into new activities or crops reduces market risk.
Q9. People’s Republic of China was established in
Answer : Option D
Explaination / Solution:
Mao declared the founding of the People's Republic of China on October 1, 1949.
Q10. The economy of India is based on planning through the ___ Year Plan develop executed and monitored by the planning Commission
Answer : Option D
Explaination / Solution:
From 1947 to 2017, the Indian economy was premised on the concept of planning. It was carried through the Five-Year Plans, developed, executed, and monitored by the Planning commission.
