This quiz works best with JavaScript enabled. Home > Indian Economy > Overview > Indian Economy – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Indian Economy Quiz 5 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the backbone of Indian economy A) Agriculture. B) Industry. C) Service. D) None of theses. Show Answer Correct Answer: A) Agriculture. 2. Which of the following is not a benefit of green revolution? A) Increase in marketed surplus. B) Increase in price of food grains. C) Buffer stock. D) Self-sufficiency. Show Answer Correct Answer: B) Increase in price of food grains. 3. Which year is called Great divide year? A) 1921. B) 1991. C) 1891. D) 1821. Show Answer Correct Answer: A) 1921. 4. The sectors are classified into public on the basis of: A) Employment conditions. B) Ownership of enterprises. C) The nature of the economic activity. D) Number of workers employed in the enterprise. Show Answer Correct Answer: B) Ownership of enterprises. 5. Who constitutes the Finance Commission in India? A) President. B) Finance Minister. C) Parliament. D) Reserve Bank Governor. Show Answer Correct Answer: A) President. 6. 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. 7. 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. 8. 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. 9. 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. 10. 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. 11. 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. 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. 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. 16. 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. 17. 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. 18. Which of these are Structural reforms? A) Short term measures. B) Improve the demand side of the economy. C) Remove growth bottle necks. D) Improving subsidy side of the economy. Show Answer Correct Answer: C) Remove growth bottle necks. 19. Which of the following is not matched correctly? A) Rabi Crop Mustard, Cucumber. B) Rabi Crop Mustard, Barley. C) Zaid Crop Moong, vegetables. D) Kharif Crop Cotton. Show Answer Correct Answer: A) Rabi Crop Mustard, Cucumber. 20. Economic Survey is published by: A) Ministry of Finance. B) Planning Commission. C) Government of India. D) Indian Statistical Institute. Show Answer Correct Answer: A) Ministry of Finance. ← PreviousNext →Related QuizzesIndian Economy QuizzesIndian Economy Quiz 1Indian Economy Quiz 2Indian Economy Quiz 3Indian Economy Quiz 4Indian Economy Quiz 6Indian Economy Quiz 7Indian Economy Quiz 8Indian Economy Quiz 9Indian Economy Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books