Development Test

Result

Development Test - 18

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Weekly Quiz Competition

Question 1
1 / -0

Take-off is the __________ stage in economic development.

A
Third

B
Fourth

C
Sixth

D
Second

Solution

Walt Rustow in his book established a theory of how the development of a country is a step by step process. In his theory he have given five different stages of development- traditional society, pre conditions to take off, take off, drive to maturity and high mass consumption respectively. Take off as given is the third stage of development.
Question 2
1 / -0

Which of the following is a normative statement?

A
Unemployment in India is reducing by 0.25% every year

B
India will become the largest economy in the world by 2050

C
India's inflation is currently at 6.50%

D
The growth will increase as the inflation increases
Question 3
1 / -0

The words 'economic overheads' refer to ______________.

A
Hospitals

B
Schools

C
Railways

D
Roads

Solution

Economic overhead refers to such things as roads, power transmission systems, telecommunications, etc
Question 4
1 / -0

The National Development Council includes _________.

A
All Central Cabinet Minister

B
Chief Ministers of all States

C
Cabinet Ministers of all States

D
Members of the Estimates Committee of Parliament

Solution

The National Development Council is presided over by the Prime Minister of India and includes all Union Ministers, Chief Ministers of all the States and Administrators of Union Territories and Members of the NITI Aayog.
Question 5
1 / -0

Financial allocation to the States is made on the recommendation of the ________.

A
Finance Commission

B
Planning Commission

C
Prime Minister

D
President of India

Solution

Finance Commission (FC) is an institution which is appointed by the President. One of the core functions of the Finance Commission is to make a balanced distribution of the tax revenue among the union and state governments. the FC recommends the financial distribution, grants provided to the states and maintain the balance in expenditure.
Question 6
1 / -0

What are the key requirements for a positive economics statement?

A
It should have numbers

B
It should make logical sense

C
It should be a fact

D
It should make economic sense.
Question 7
1 / -0

Which of the following is true given that the PPF contains product A and Product B?

A
Increase in production of product A will decrease the production of product B on the PPF and vice versa.

B
If production of A increases production of B must also increase

C
If production of B increases production of A must also increase

D
None of the above are true
Question 8
1 / -0

In India, Finance Commission deals with ___________.

A
Private sector finances

B
States finances

C
Local finances

D
Centre-State financial relations

Solution

In India, Finance Commission deals with Centre-State financial relation. The Finance Commission was established by the President of India in 1951 under Article 280 of the Indian Constitution. It was formed to define the financial relations between the central government of India and the individual state governments
Question 9
1 / -0

A Finance Commission is constituted every __________.

A
Three years

B
Two years

C
Five years

D
Four years

Solution

A Finance Commission is constituted every five years.
Question 10
1 / -0

Foreign aid is needed to _________.

A
Supplement the domestic savings of developing nations

B
Assure the capital imports needed for development

C
Prevent the absolute gap between rich and poor nations from widening further

D
All the above

Solution

Foreign aid referred to the flow of men, money and material resources from the United States immediately after the last war. The outflow was to achieve economic recovery and efficiency development.
Foreign aid is needed to supplement the domestic savings of developing nations. Also, it is needed to assure the capital imports needed for development. Moreover, it is needed to prevent the absolute gap between rich and poor nations from widening further.

Thus, the correct answer is D.

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Re-Attempt Weekly Quiz Competition

Development Test - 18

Result

Development Test - 18

Score

-

Rank

-

SHARING IS CARING

Question 1

Third

Fourth

Sixth

Second

Solution

Question 2

Unemployment in India is reducing by 0.25% every year

India will become the largest economy in the world by 2050

India's inflation is currently at 6.50%

The growth will increase as the inflation increases

Question 3

Hospitals

Schools

Railways

Roads

Solution

Question 4

All Central Cabinet Minister

Chief Ministers of all States

Cabinet Ministers of all States

Members of the Estimates Committee of Parliament

Solution

Question 5

Finance Commission

Planning Commission

Prime Minister

President of India

Solution

Question 6

It should have numbers

It should make logical sense

It should be a fact

It should make economic sense.

Question 7

Increase in production of product A will decrease the production of product B on the PPF and vice versa.

If production of A increases production of B must also increase

If production of B increases production of A must also increase

None of the above are true

Question 8

Private sector finances

States finances

Local finances

Centre-State financial relations

Solution

Question 9

Three years

Two years

Five years

Four years

Solution

Question 10

Supplement the domestic savings of developing nations

Assure the capital imports needed for development

Prevent the absolute gap between rich and poor nations from widening further

All the above

Solution

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