INSIGHT UPSC QUIZ

The GDP of a country cannot be taken as an index of the welfare of the people of that country because:

1. The rise in GDP may be concentrated in the hands of very few individuals or firms.

2. Many activities in an economy are not evaluated in monetary terms.

3. It does not give information about the size of the economy.

4. Externalities do not have any market in which they can be bought and sold.

Which of the statements given above are correct?

The British introduced the railways in India in 1850 and it is considered as one of their most important contributions. In which of the following way(s) the railways affected the economic structure of the India?

1. It enabled people to break geographical and cultural barriers.

2. It fostered commercialisation of Indian agriculture.

Which of the statement(s) given above is/are correct?

 The Budget documents presented to the Parliament, besides the Finance Minister’s Budget Speech, include:

1. Expenditure Budget.

2. Receipt Budget.

3. Expenditure Profile.

4. Output Outcome Monitoring Framework.

Select the correct answer using the code given below.

Poverty is the lack of income and productive resources to ensure sustainable livelihoods. Which among the following are tools/methods used for estimation of poverty in India?

1. Sen Index

2. Poverty Gap Index 

3. Gini Coefficient

4. Inverted Poverty Gap

Select the correct answer using the code given below:

Money is accepted as a medium of exchange because the given currency is authorised by the government of the country. Which among the following are modern forms of money/currency?

Which of the following should be the focus areas in order to bring about comprehensive rural development in India?

In 1991, Indian government introduced a new set of policy measures which changed the direction of our economy. Which among the following were immediate reasons for such a landmark decision?

Consider the following statements with reference to difference between factor cost and market prices:

1. Market prices are the prices as paid by the consumers and factor cost refers to the prices of products as received by the producers. 

2. Market prices include product taxes minus subsides, and factor cost is equal to market prices minus net indirect taxes. 

Which of the statements given above is/are correct?

Arrange the following sources of earning of Union Government of India in decreasing order:

1. Custom duties.

2. Non-Tax Revenue.

3. Non-Debt Capital Receipts.

4. Union Excise Duties.

Select the correct answer using the code given below.

Globalisation is the process of rapid integration or interconnection between countries. Which of the following factors enable/influence the process of globalisation?

1. Increasing foreign trade.

2. Improvement in technology. 

3. Reduction in trade barriers. 

4. Need for skilled persons.

Select the correct answer using the code given below: