Human Capital Formation in India test

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Human Capital Formation in India test - 14

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Weekly Quiz Competition

Question 1
1 / -0

High Population leads to higher expenditure on social overheads. Here Social Overheads includes________.

A
hospitals

B
roads

C
schools

D
all of the above
Question 2
1 / -0

The Incentive / Reward in respect of Labour is called ___________.

A
Rent

B
Wages

C
Interest

D
Profit

Solution

The Incentive / Reward in respect of Labour is called wages. Wages can also be defined as some price which is to be paid to the workers for their labour contribution in the production mechanism of the economy,
Question 3
1 / -0

As per the Law of Diminishing Returns, fixed factor becomes inadequate because ____________.

A
It is scarce

B
It has no perfect substitutes

C
Both A and B

D
Neither A nor B

Solution

As per the Law of Diminishing Returns, Fixed Factor becomes inadequate because -
a) It is scarce
b) It has no perfect substitutes
Law of variable proportions is also known as the law of law of diminishing returns. This law shows the production function with one input factor variable while keeping the other input factors constant.
Question 4
1 / -0

As part of Banking Sector Reforms in 1991, . Banks can now operate in India.

A
Private Sector Banks belonging to Resident Persons

B
Foreign Banks

C
Both (a) and (b)

D
Neither (a) nor (b)

Solution

In the banking sector reforms, the policy of privatization allowed private parties to own banks and run them and the policy of globalization allowed the foreign banks to operate in the domestic territory of India.
Question 5
1 / -0

As part of Banking Sector Reforms in 1991, CRR and SLR were -

A
Increased

B
Reduced

C
Maintained at constant level

D
None of the above

Solution

In the banking sector reforms, the policy of liberalization aim at decreasing the cash reserve ratio and statutory liquidity ratio of the bank so that banks can operate freely on the credit creating process and money supply could restored again in the economy.
Question 6
1 / -0

Which of the following was not immediate cause of 1991 economic crisis:

A
Rapid growth of population

B
Severe inflation

C
Expanding Fiscal deficit

D
Rising current account deficit

Solution

During 199, the economic crisis arose due to many economic problems as the government was facing high fiscal deficit due to rising current account deficit which acted as two spiral rate which lead to heavy inflation in the economy.
Question 7
1 / -0

If Capital Formation / Investment is required for maintaining the existing standard of living for the additional population, it is called____.

A
demographic investment

B
economic investment

C
both (a) and (b)

D
neither (a) nor (b)
Question 8
1 / -0

Assuming the PPC does not shift, which of the following is true?

A
Point A is desirable but is inefficient

B
Point D represents a more efficient allocation of resources than points A and F.

C
Point H is desirable but is not attainable.

D
Point G is desirable and attainable

Solution

Production possibility curve shows the different combinations of the production of two commodities that can be achieved in an economy given the resources and technology which are to be fully utilized. Therefore to achieve any point beyond PPC that is point H, there is need for increase in the present supply of resources and technology which may be desirable for the economy but not attainable.
Question 9
1 / -0

Which of the following statements is correct with regard to external sector in the pre-reform period?

A
Foreign trade policy was very liberal, it allowed import of all types of goods

B
Import of foodgrains was strictly prohibited

C
Balance of payments situation was quite comfortable

D
None of the above

Solution

None of the statements are correct with regard to external sector in the pre-reform period.
In pre-reform period-
a) Foreign trade policy was not liberal, it did not allow import of all types of goods.
b) Import of food grains was not prohibited.
c) Balance of payments situation was not very stable.
Question 10
1 / -0

____________ of credit control affects specific sectors of the economy.

A
Qualitative Methods

B
Quantitative Methods

C
Both (a) and (b)

D
Neither (a) nor (b)

Solution

Qualitative methods of credit control affects specific sectors of the economy. Qualitative instruments of credit control are those instruments which focus on select sectors of the economy. This policy of credit control is also known as policy of selective control.

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Re-Attempt Weekly Quiz Competition

Human Capital Formation in India test - 14

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Human Capital Formation in India test - 14

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SHARING IS CARING

Question 1

hospitals

roads

schools

all of the above

Question 2

Rent

Wages

Interest

Profit

Solution

Question 3

It is scarce

It has no perfect substitutes

Both A and B

Neither A nor B

Solution

Question 4

Private Sector Banks belonging to Resident Persons

Foreign Banks

Both (a) and (b)

Neither (a) nor (b)

Solution

Question 5

Increased

Reduced

Maintained at constant level

None of the above

Solution

Question 6

Rapid growth of population

Severe inflation

Expanding Fiscal deficit

Rising current account deficit

Solution

Question 7

demographic investment

economic investment

both (a) and (b)

neither (a) nor (b)

Question 8

Point A is desirable but is inefficient

Point D represents a more efficient allocation of resources than points A and F.

Point H is desirable but is not attainable.

Point G is desirable and attainable

Solution

Question 9

Foreign trade policy was very liberal, it allowed import of all types of goods

Import of foodgrains was strictly prohibited

Balance of payments situation was quite comfortable

None of the above

Solution

Question 10

Qualitative Methods

Quantitative Methods

Both (a) and (b)

Neither (a) nor (b)

Solution

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