Tag: economics

Questions Related to economics

The Ease of Doing Business Report, an international publication, is published every year by which of the following organisation(s)?
(A) World Bank
(B) WTO
(C) Reserve Bank of India.

  1. Only (A)

  2. Only (B)

  3. Only (C)

  4. Both (A) and (B)


Correct Option: A
Explanation:

The Ease of Doing Business Report is a report that is published annually. It was developed in 2003. Its aim is to measure the costs to firms of business regulations in 190 countries. It is an international publication which is published by World Bank. World  Bank is an international financial institution.

Thus, the correct answer is A.

Which of the following is not a social sector programme of the Govt of India?

  1. Mid Day Meal scheme

  2. Sarva Siksha Abhiyan

  3. National Rural Health Mission

  4. Look East Policy


Correct Option: D
Explanation:

Mid Day Meal scheme is a programme to better the nutritional standing of school-age children all over the world. Another, Sarva Siksha Abhiyan aims at universalisation of primary education. Moreover, the National Rural Health Mission provides adequate health care. These are all social sector programmes of the Govt of India. However, Look East Policy is not a social sector programme. It is a policy to improve relations with our eastern neighbours and countries of South-East Asia.

Thus, the correct answer is D.

India entered into an agreement to purchase Liquefied Natural Gas (LNG) from some East Asian Nations. This is the part of India's initiative in the direction of _____________.

  1. Look East policy

  2. Switch over to LNG

  3. Business with most favoured nations only

  4. Convention on Supplemental Compen-sation (CSC)


Correct Option: A
Explanation:

India’s Look East Policy is a policy to develop relations of extensive economic and strategic importance with the nations of Southeast Asia. The support from Asian countries has increased India’s importance at the global level. India took an initiative in this direction. It has entered into an agreement to purchase Liquefied Natural Gas(LNG) from some east Asian countries.

Thus, the correct answer is A.

Which one of the following countries is not considered a Newly Industrialized Country (NIC)?

  1. South Africa

  2. Mexico

  3. Brazil

  4. France


Correct Option: D
Explanation:

France is a developed country. International Monetary Fund includes France in the list of advanced economies. Hence, France is not considered a Newly Industrialized Country.
Newly Industrialised Countries are those countries whose economies have not yet reached a developed country's status but whose economic growth is much higher than other developing countries.

Which of the following is not true about farmers in the least Developed Countries (LDCs)?

  1. The staple crop is the chief source of food

  2. Labour is underutilized except for planting and harvesting seasons

  3. On the traditional farm, output is always greater than consumption

  4. Cultivators utilize only a small portion of land


Correct Option: C
Explanation:

The farmers in the least developed countries (LDCs) have staple crop as the chief source of food. Moreover, labour is underutilized in these countries, except for planting and harvesting seasons. Also, cultivators utilise only a small portion of land here.

Thus, the correct answer is C.

The Govt of India has created a women's Self-Help Group Development Fund so that it can reduce their interest burden. What is the size of the fund?

  1. Rs. 100 crores

  2. Rs. 200 crores

  3. Rs. 250 crores

  4. Rs. 500 crores


Correct Option: D
Explanation:

The Govt of India has created the Self-Help Group Development Fund of women. Self Help Groups are being promoted through this fund. It is for the realization of socio-economic development. Also, the fund helps to reduce the interest burden. The size of the fund is Rs. 500 crores.

Thus, the correct answer is D.

As per some newspaper reports , the Asia-Pacific Region is facing various global crises. What are these crises?
A) Financial crises
B) Fuel and food crises
C) Climate change

  1. Only A

  2. Only B

  3. Only C

  4. All A, B and C


Correct Option: D
Explanation:

The various global crises have affected the Asia-Pacific region with unexpected speed and force. These crises include: financial crisis(slow down of economic growth), fuel and food crisis and climatic change.

Thus, the correct the answer is D.

State whether the following statements are True or False:
India has 25% of the world's population.

  1. True

  2. False


Correct Option: B
Explanation:

According to the demographics, world’s population refers to the total number of people or human beings who are currently living. It was estimated to have reached a figure of 7.8 billion people as of March 2020. Moreover, India is referred to as the second most populated country in the world. Also, it has been estimated to have 17.7% of the total word’s population.

Thus, the correct answer is B.

Fill in the blanks from the alternatives given.
India occupies ______% of the total world land area.

  1. 2.4

  2. 4.2

  3. 3.3

  4. none of these


Correct Option: A
Explanation:

The percentage of area occupied by India is 2.4 percent of the total land area of the world. However, it tends to support 16.7 percent of the world's population.

Thus, the correct answer is A.

Fill in the blanks from the alternatives given.
The year ___ is described as the year of Great Divide.

  1. 1947

  2. 1951

  3. 1921

  4. none of these


Correct Option: C
Explanation:

The year 1921 is referred to as a “year of the great divide” in the demographic history of India. It is when the mortality started to decline which lead to an acceleration in the rate of population growth. Also, during the next three decades (1921-51) the  population growth rate continued at a level of over one per cent per annum.

Thus, the correct answer is C.