Human Capital Formation in India test - 14

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Human Capital Formation in India test - 14
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  • Question 1
    1 / -0
    High Population leads to higher expenditure on social overheads. Here Social Overheads includes________.
  • Question 2
    1 / -0
    The Incentive / Reward in respect of Labour is called ___________.
    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 ____________.
    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.
    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 -
    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:
    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____.
  • Question 8
    1 / -0
    Assuming the PPC does not shift, which of the following is true?

    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?
    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.
    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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