Question 1 1 / -0
If a certain country P has only 6 citizens namely A, B, C, D, E and F whose monthly incomes are given below, then find the per capita income of P.
A 10,000 B 15,000 C 20,000 D 4000 E 2000 F 12,000
Solution
Per capita income:
10,000 + 15,000 + 20,000 + 4000 + 2000 + 12,000 =
= 10,500
Question 2 1 / -0
If a person weighs 88 kg and has a height of 2 metres, then which of the following is true about the given individual?
Solution
Body Mass Index (BMI) =
, i.e.
=
= 22
Using the BMI scale:
Underweight: BMI is less than 18.5.
Normal weight: BMI is 18.5 to 24.9.
Overweight: BMI is 25 to 29.9.
Obese: BMI is 30 or more
We can say that the mentioned individual is Healthy
Question 3 1 / -0
In a certain state P, the breakup of its population is given below. Find its literacy rate.
Age Can read or write Illiterate Below 7 Years 4 7 7-21 Years 50 60 21-55 Years 35 45 55 and above 20 10
Solution
Literacy rate is the total percentage of population which can read and write with understanding in 7 and above age group.
Total population above 7 years = 50 + 60 + 35 + 45 + 20 + 10 = 220
Who can read and write above 7 years = 50 + 35 + 20 = 105
Literacy rate =
× 100 = 47.7%
Question 4 1 / -0
Which of the following statements regarding development are true?
Solution
All the people have different notions of development or progress, depending upon their own aspirations or desires. Development for one may be destructive for the others. Destructive creation refers to circumstances in which innovation results in more damage to the economy than beneficial outcomes. For development, people do look at a mix of goals, which not only focus on seeking/earning more income but also on non-material aspects like equal treatment, respect of others, dignity of labour, a safe and secure work environment, pollution-free surroundings, etc. The development goals of people are not only about better income, but also about other important things in life, such as safe and secure environment, equal treatment, freedom, etc.
Question 5 1 / -0
Which of the following attributes is considered as the most important for comparing different countries?
Solution
Basically the most important attributes for comprising countries is per capita income as it gives a rough sketch of the development of the countries and then using different measures like HDI, IMR, etc. Countries with higher income are more developed than countries with less income.
Question 6 1 / -0
The World Development Report is brought out by the
Solution
The World Development Report (WDR) is an annual report being published since 1978 by the International Bank for Reconstruction and Development (IBRD) or World Bank. Each WDR provides in-depth analysis of a specific aspect of economic development.
Question 7 1 / -0
What is meant by literacy rate?
Solution
Literacy rate is defined as the proportion of population aged 7 years or above who can read and write with understanding. In 2011, India had a literacy rate of 74%; 82% for men and 65% for women. The literacy rate varies wildly by state. Bihar is the least literate with a rate of 63.82%. Tripura has the third highest literacy rate in India. According to the 2011 census, literacy level was 93.91% in Kerala and 91.58% in Mizoram, among the most literate states in the country. U.S. literacy rate for 2018 was 99.90%.
Question 8 1 / -0
Infant mortality rate indicates the number of children that die before the age of one year as a proportion of
Solution
Infant mortality rate (IMR) is the number of deaths per 1,000 live births of children under one year of age. The rate for a given region is the number of children dying under one year of age, divided by the number of live births during the year, multiplied by 1,000.
Question 9 1 / -0
Kerala has low Infant Mortality Rate because it has
Solution
Kerala has low Infant Mortality Rate because it has adequate provision of basic health and educational facilities.
Question 10 1 / -0
Human Development Report published by UNDP compares countries based on:
Solution
The Human Development Report published by UNDP compares countries based on the educational levels of the people, their health status and per capita income. The Human Development Report (HDR) is an annual report published by the Human Development Report Office of UNDP.
Question 11 1 / -0
Besides seeking income, people also seek things like equal treatment, self respect, freedom, security, etc. These are referred to as
Solution
Beside seeking more income, one way or the other, people also seek things like equal treatment, freedom, and security. These are non-material things. The desire of the people is to work on a regular basis, earn better wages, and receive decent price for their crops or other products that they produce. They want more income.
Question 12 1 / -0
Which of the following features belong to Primary Sector?
Solution
Primary Sector is the economic sector that produces goods by exploiting the natural resources because it forms the base for all the products that are associated directly with land and water. The primary sector of the economy includes any industry involved in primary production, that is the extraction and collection of natural resources, such as mining. Primary Sector is the most important sector in developing countries. Three-fourth of the GDP is contributed by Secondary and Tertiary sectors.
Question 13 1 / -0
Match the following:
Sector Activities A. Primary (i) Banking and Insurance B. Secondary (ii) Woolen Garments C. Tertiary (iii) Fish Farming
Choose the correct option.
Solution
The primary sector consists of the fishermen who are involved exclusively in active fishing.
Question 14 1 / -0
While calculating GDP,
Solution
While calculating GDP, the value of final goods and services should be considered, and not the actual number of goods and services produced. It is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of the country's economic health.
Question 15 1 / -0
The task of measuring GDP in India is taken by
Solution
The value of final goods and services produced in each sector during a particular year provides the total production of the sector for that year. And the sum of production in the three sectors is called the Gross Domestic Product or GDP of a country. In India, the mammoth task of measuring GDP is undertaken by the Central government ministry. This ministry, with the help of various government departments of all the Indian States and Union Territories, collects information related to total volume of goods and services and their prices, and then estimates the GDP.
Question 16 1 / -0
Tertiary sector is an important sector in developing the country because the
Solution
In a developing country, the basic services such as hospitals, educational institutions, post offices, police stations, etc are required. The government has to take responsibility for the provision of these services, thereby making tertiary sector more important. The service sector makes an important contribution to GDP in developing countries, providing employment, inputs and public services and increasing standard of living for the economy.
Question 17 1 / -0
NREGA by providing a 'right to work' is consistent with ____________.
Solution
NREGA Act aims to follow the Directive Principles of State Policy enunciated in Part IV of the Constitution of India. The law by providing a 'right to work' is consistent with Article 41 that directs the State to secure to all citizens the right to work. The statute also seeks to protect the environment through rural works which is consistent with Article 48A that directs the State to protect the environment.
Question 18 1 / -0
Workers in agricultural sector are under-employed. This kind of employment is called
Solution
Underemployment is hidden, in contrast to someone who does not have a job, and is clearly visible as unemployed. Hence, it is called disguised unemployment. This situation is also known as 'hidden unemployment'. In such a situation, more people are engaged in a work than required.
Question 19 1 / -0
Under NREGA, 2005, all those who are able to and are in need of work have been guaranteed
Solution
Under NREGA 2005, 100 days of employment in a year are guaranteed by the government. National Rural Employment Guarantee Act, 2005, is an Indian labour law and social security measure that aims to guarantee the 'right to work'.
Question 20 1 / -0
Sushma works in a telecom company. She attends her office from 09:00 am to 5:00 pm regularly. In addition to her regular salary, she gets provident fund as per the rules laid down by the government. Sunday is a paid holiday for her. She is working in a/an
Solution
She works in an organised sector. Since it is a telecom company, it is not a primary or secondary sector company. It belongs to tertiary sector. Moreover, organised sector is a sector where the employment terms are fixed and regular, and the employees get assured work.
Question 21 1 / -0
Many organised sector enterprises are found in the unorganised sector. They adopt such strategies to
Solution
Organised sector enterprises adopt such strategies to evade taxes and refuse to follow laws. Tax evasion is the illegal evasion of taxes by individuals, corporations, and trusts. In unorganised sector they can avail discount, escaping duty which otherwise is to be paid in their legitimate business.
Question 22 1 / -0
Protection and support to the unorganised sector workers is necessary for
Solution
Protection and support to unorganised sector workers is necessary for social and economic development. The workers in the unorganised sector do not get paid leaves, provident fund, payment during holidays, gratuity, etc. They are often exploited and not paid a fair wage and their earnings are low and not regular.
Question 23 1 / -0
In the private sector, the ownership of assets and delivery of services is in the hands of
Solution
In Public sector, the government owns most of the assets and provides all the services. Activities in the private sector are guided by the motive to earn profits. To get such services one has to pay money to these individuals and companies.
Question 24 1 / -0
Which of the following options is an example of Public Sector?
Solution
Railways and post office are an example of Public Sector. A Public Sector Undertaking, known as PSU, is a company in which majority of the stake (more than 50%) is owned by the Government.
Question 25 1 / -0
GDP refers to
Solution
GDP refers to Gross Domestic Product. It is one of the most common indicators used to track the health of a nation's economy. It represents the total dollar value of all goods and services produced over a specific time period, often referred to as the size of the economy.
Question 26 1 / -0
Match list A with list B and select the correct answer using the codes given below.
A B (A) Women employment (i) World Bank (B) World Development Report (ii) Average income (C) Health and education (iii) Bihar (D) Low per capita income (iv) Social indicators (E) Per capita income (v) Increases family income
Solution
Working women's contributions have been essential in abating the effects of stuck or stalled family income growth.
Question 27 1 / -0
Which of the following occupations does not belong to the tertiary sector?
Solution
Fisherman exploits the natural resources. Hence, he does not belong to the tertiary sector. The tertiary sector or service sector is the third economic sector of the three-sector theory. The others include the secondary sector (approximately the same as manufacturing), and the primary sector (raw materials). The service sector consists of the production of services instead of end products. Services (also known as "intangible goods") include attention, advice, access, experience, and affective labour.
Question 28 1 / -0
Match list-A with list-B and select the correct answers using the codes given below the lists
A B (A) Human Development Report (i) Government of India (B) Economic Survey (ii) World Bank (C) World Development Indicators (iii) United Nations Development Programme (D) Hand Book of Statistics on Indian Economics (iv) Reserve Bank
Choose the correct option.
Solution
The Human Development Report (HDR) is an annual report published by the Human Development Report Office of the United Nations Development Programme.
Question 29 1 / -0
Under-employment occurs when people
Solution
Under-employment is the situation when people are apparently working but all of them are made to work less than their potential. Under-employment has been studied from a variety of perspectives, including economics, management, psychology, and sociology.
Question 30 1 / -0
Which type(s) of unemployment is/are found mostly in urban areas?
Solution
Seasonal unemployment and disguised unemployment are primarily found in the primary sector. Primary sector activities are mostly carried out in the rural areas. Educated unemployment is unemployment among people with academic degree. They do not find opportunities related to their education, leading to their unemployment.
Question 31 1 / -0
National Development Council was set up in the year
Solution
National Development Council was set up on 6 August, 1952, to strengthen and mobilize the effort and resources of the nation in support of the Five Year Plans made by the Planning Commission, to promote common economic policies in all vital spheres, and to ensure the balanced and rapid development of all parts of the country.
Question 32 1 / -0
Mahatma Gandhi National Rural Employment Guarantee Scheme was started by
Solution
The central government in India made a law implementing the right to work in 200 districts of India, which is called Mahatma Gandhi National Rural Employment Guarantee Scheme. This act was passed in September 2005.
Question 33 1 / -0
The unemployment problem can be solved by
Solution
Development of industries in semi-rural areas can provide employment to a large number of people. Unemployment and underemployment in India are caused by more basic structural factors, such as lack of capital, use of capital-intensive technologies, lack of access to land for agricultural household, lack of infrastructure, rapid growth of population resulting in large annual increments in labour force year after year, etc.
Question 34 1 / -0
Economic Development of a country is measured on the basis of
Solution
Economic development means that the rate of production is greater than the rate of increase in population and the rate of growth of GDP is high enough to fulfill the basic needs of the population. It is measured on the basis of average or per capita income. The another method of measuring it is to calculate it through national income and public facilities.
Question 35 1 / -0
Consider the following statements and identify the correct response from the options given thereafter. Statement - I: The most serious economic problems of India are poverty and unemployment. Statement - II: There is a strong link between economic growth and poverty reduction.
Solution
The broad causes for economic problems in India are - poverty, unemployment, population explosion, and slow growth rate of backwardness of agriculture, insufficient industrial development, inappropriate education system, and emphasis on capital-intensive technology. The higher growth rates have helped significantly in the reduction of poverty. Therefore, it is becoming clear that there is a strong link between economic growth and poverty reduction. Economic growth widens opportunities and provides the resources needed to invest in human development.
Question 36 1 / -0
The quality of education in a country does not depend upon
Solution
The quality of education in a country does not depend upon the health status of the people.
Question 37 1 / -0
'MGNREGA' aims to guarantee the
Solution
The Central Government of India made a law implementing the 'right to work', which is called MGNREGA.
Question 38 1 / -0
Which of the following is a feature of a developing country?
Solution
Agriculture is the main occupation in a developing country. When a good is produced by exploiting natural resources, it is an activity of the primary sector. It is an important sector because it forms the base for all other products that are subsequently made. Indian agriculture sector accounts for 18 per cent of India's gross domestic product (GDP) and provides employment to 50 per cent of the countries workforce.
Question 39 1 / -0
The formula to calculate BMI is
Solution
Body Mass Index is a simple calculation using a person's height and weight. This is a numerical value of your weight in relation to your height. The formula is BMI =
, where kg is a person's weight in kilograms and m
2 is their height squared (in metres).
Question 40 1 / -0
In India, the NREGA (2005) reserves 1/3 proposed employment for
Solution
NREGA reserves 1/3 proposed employment for women. It also guarantees 100 days of wage employment in the financial year to a rural household whose adult members volunteer to do unskilled manual work. In this scheme, one-third of the proposed job will be reserved for women.
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