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Indian Economy Test 39

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Indian Economy Test 39
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Which one of the following unemployments is also known as search unemployment which occurs at  the time period between jobs when a worker is searching for or transitioning from one job to another?
  • Question 2
    1 / -0
    What will be the nature of the Beveridge curve when there is prevalent of the long term unemployment due to deterioration of human capital or a negative perception of the unemployed by the potential employers in an economy?
  • Question 3
    1 / -0
    Which one of the following services is included in the services sector of Indian Economy?
    Solution
    Service sector is the tertiary sector of Indian economy and forms the largest contributor to GDP. Tourism, health care, education, transportation, communication, engineering, information technology, finance, banking, management and other such services form part of the services sector in India.
  • Question 4
    1 / -0
    Which one of the following laws/curves stated that the lower the unemployment in an economy, the higher the rate of inflation?
    Solution
    Philips curve is a historical inverse relationship between the rate of unemployment and the rate of inflation in an economy. Philip's curve stated that the lower the unemployment in an economy, the higher the rate of inflation.
  • Question 5
    1 / -0
    Consider the following statements
    1. International Development Association (IDA) is a member of the World Bank Group
    2. IDA complements the International Bank for Reconstruction and Development by lending to development by leading to developing countries which suffer from the lowest gross national income, from troubled credit-worthiness, or from the lowest per capita income
    3. International Development Association and International Banks for Reconstruction and Development are collectively known as the World Bank
    Which of the statements given above are correct?
  • Question 6
    1 / -0
    Which one of the following is the act of stimulating the economy by increasing the money supply or by reducing taxes?
  • Question 7
    1 / -0
    Which one of the following sub-sector of the services sector in India has contributed the highest per cent in the annual growth rate of the GDP?
    Solution
    Real estate, ownership of dwellings and business services are the biggest contributor to growth among the various sub-sectors in the services sector. It formed approximately 14.9% of the share of GDP in 2014-15. It is followed by trade, hotels and restaurants at 11.8%.
  • Question 8
    1 / -0
    Consider the following statements
    1. Under the Differential Rate of Interest Scheme, the public sector banks are required to lend at least one per cent of the total advances as at the end of the preceding year to the weakest of the weak sections of the society.
    2. Under the Differential Rate of Interest (DRI) Scheme, the interest rate of advances made to the weakest of the weak sections of the society 4% per annum.
    Which of the statements given above is/are correct?
  • Question 9
    1 / -0
    Which one of the following services of the Indian Economy has the highest percentage of share in the services sector export?
    Solution
    Computer software services form 46.4% (as of 2014-15) of the exports in the services sector and is the biggest constituent of the service sector exports. Exports in the services sector totalled at $76.59 billion in 2014-15.
  • Question 10
    1 / -0
    Consider the following factors regarding the Structural Unemployment of an economy
    1. Mechanisation of agriculture
    2. Geographical factors or locations
    3. Adoption of robotic technologies to replace unskilled labourers
    Which of the factors given above are correct?
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