This quiz works best with JavaScript enabled. Home > Indian Economy > Indian Economy – Quiz 7 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy Quiz 7 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Under the ..... all those who are able to, and are in need of work, in a rural area are guaranteed 100 days of employment in a year by the government. A) Right to work. B) Employment Right Act. C) National Rural Employment Guarantee Act 2005. D) None of above. Show Answer Correct Answer: C) National Rural Employment Guarantee Act 2005. 2. Who constitutes the Finance Commission in India? A) President. B) Finance Minister. C) Parliament. D) Reserve Bank Governor. Show Answer Correct Answer: A) President. 3. Deficit financing implies A) Printing new currency notes. B) Replacing new currency with worn out currency. C) Public expenditure in excess of public revenue. D) Public revenue in excess of public expenditure. Show Answer Correct Answer: C) Public expenditure in excess of public revenue. 4. The scheme for improving access to secondary education is? A) National program for education of girls at elementary level. B) Model school scheme. C) Rashtriya Madhyamik Shiksha abhiyan. D) Kasturba Gandhi Balika Vidyalaya. Show Answer Correct Answer: C) Rashtriya Madhyamik Shiksha abhiyan. 5. Identify which of the following is not the reason for introducing economic reforms in India? A) Deficit in Balance of Trade. B) Deficit in Balance of Payments. C) Excess of foreign exchange reserve. D) Rise in Price essential goods. Show Answer Correct Answer: C) Excess of foreign exchange reserve. 6. Name the sector which continues to be the largest employer even in the year 2000. A) Primary. B) Secondary. C) Banking section. D) Tertiary. Show Answer Correct Answer: A) Primary. 7. Which statement is wrong? Mahatma Gandhi National Rural Employment Guarantee Act 2005 guarantees A) 100 days of work to rural unemployed in a year. B) 100 days of work to urban unemployed in a year. C) Government to provide unemployment allowances if it fails to provide jobs. D) It should be the kind of work that help increasing production from land to be given the preference under this ACT. Show Answer Correct Answer: B) 100 days of work to urban unemployed in a year. 8. Economic growth measures the A) Growth of productivity. B) Increase in nominal income. C) Increase in output. D) None of the above. Show Answer Correct Answer: C) Increase in output. 9. Full form of GDP A) Gross domestic product. B) Great domestic products. C) Gross delivery process. D) None of above. Show Answer Correct Answer: A) Gross domestic product. 10. Out of 200 million children in the school going age group, how many are attending schools? A) One-fourth. B) Half. C) Two-thirds. D) One-fifth. Show Answer Correct Answer: C) Two-thirds. 11. In which sector there is no provision for overtime, paid leave, holidays etc. A) Organised sector. B) Public sector. C) Unorganised sector. D) Primary sector. Show Answer Correct Answer: C) Unorganised sector. 12. When was tha Reserve Bank of India taken over by the Government? A) 1942. B) 1949. C) 1952. D) 1959. Show Answer Correct Answer: B) 1949. 13. Disguised employment is a situation A) When a person does not have a job. B) When he is jobless. C) When a person is incapable. D) When more people r employed then needed. Show Answer Correct Answer: D) When more people r employed then needed. 14. Which of the following is the most appropriate meaning of underemployment? A) Workers are not paid for their work. B) Workers are working less than what they are capable of doing. C) Workers are working in a lazy manner. D) Workers do not want to work. Show Answer Correct Answer: B) Workers are working less than what they are capable of doing. 15. Who carries economic activities? A) Individuals. B) Firms. C) Government. D) All of the above. Show Answer Correct Answer: D) All of the above. 16. Which sector has the largest contribution in GDP? A) Agriculture sector. B) Industrial sector. C) Service sector. D) Manufacturing sector. Show Answer Correct Answer: C) Service sector. 17. Which of the following is also known as disguised employment? A) Over employment. B) Factory employment. C) Under employment. D) Unemployment. Show Answer Correct Answer: A) Over employment. 18. All goods which are used as raw material for further production of other goods or for resale in the same year are called A) Capital Goods. B) Intermediate goods. C) Final goods. D) None of above. Show Answer Correct Answer: B) Intermediate goods. 19. What percentage of Indian population is dependent on agriculture? A) 65% of total population. B) 53% of total population. C) 40% of total population. D) 65% of total population. Show Answer Correct Answer: B) 53% of total population. 20. The Indian government currently bans foreign investment in A) Atomic energy. B) The hospitality subsector. C) Electrical power. D) Software engineering. Show Answer Correct Answer: A) Atomic energy. ← PreviousNext →Related QuizzesIndian Economy Quiz 1Indian Economy Quiz 2Indian Economy Quiz 3Indian Economy Quiz 4Indian Economy Quiz 5Indian Economy Quiz 6Indian Economy Quiz 8Indian Economy Quiz 9Indian Economy Quiz 10Indian Economy Quiz 11 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books