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OTI365 - CA CPT
CA CPT Basics of General Economics - General Profile of Indian Economy Important Questions

Basics of General Economics - General Profile of Indian Economy

Exam Duration: 45 Mins Total Questions : 30

1 )

In an under-developed economy, employment and under-employment are -

(a)
Low
(b)
High
(c)
Moderate
(d)
Nothing can be said

2 )

In an under-developed economy, Health and Education standards are -

(a)
Low
(b)
High
(c)
Moderate
(d)
Nothing can be said

3 )

In the context of Poverty, BPL stands for

(a)
Budget-Price Line
(b)
Below Poverty Line
(c)
Budgetary Policy Limits
(d)
None of the above

4 )

The GINI index for India in 2000-10 (survey year) was:

(a)
0.368
(b)
0.297
(c)
0.534
(d)
0.182

5 )

Agriculture, Animal Husbandry, etc. are included in -

(a)
Primary Sector
(b)
Secondary Sector
(c)
Tertiary Sector
(d)
All of the above

6 )

Service Activities are included in -

(a)
Primary Sector
(b)
Secondary Sector
(c)
Tertiary Sector
(d)
All of the above

7 )

Demand for industrial goods in rural areas depends on primarily -

(a)
Income Levels of Farmers
(b)
Availability of Industrial Goods in rural areas
(c)
Producers willingness to supply to rural areas
(d)
Government Policies

8 )

Substantial Improvement in Agricultural Productivity was achieved through -

(a)
White Revolution
(b)
Green Revolution
(c)
Red Revolution
(d)
Blue Revolution

9 )

Significant breakthrough by way of productivity increase under Green Revolution was achieved in -

(a)
Wheat
(b)
Rice
(c)
Jute
(d)
Tobacco

10 )

Under the earlier Land Tenure Systems prevailing at the time of independence, Tenant had to pay ____________ to the Landlord.

(a)
Rent
(b)
Land Revenue
(c)
Either (a) or (b)
(d)
Neither (a) nor (b)

11 )

Imposing limits on the amount of Agricultural Land that a family can hold is called -

(a)
Regulation of Land Area
(b)
Security of Land Holdings
(c)
Ceilings on Land Holdings
(d)
Land Revolution

12 )

Which one of the following states has made the least progress in respect of consolidation of holdings?

(a)
Bihar
(b)
Uttar Pradesh
(c)
West Bengal
(d)
Orissa

13 )

Which of the following statements is correct?

(a)
Countries which are industrially well- developed generally have higher per capita income than countries which are not.
(b)
India is capital surplus economy
(c)
Agriculture sector need not depend upon industrial sector for its growth
(d)
None of the above.

14 )

The share of Industry Sector to GDP is showing ______________ trend.

(a)
Increasing
(b)
Decreasing
(c)
Constant
(d)
Nothing can be said

15 )

Identify which of the following is not a part of Basic Goods Industries.

(a)
Non-Ferrous Basic Metals
(b)
Iron and Steel
(c)
Rubber
(d)
Cement

16 )

Identify which of the following is not a part of Intermediate Goods Industries

(a)
Petroleum Products
(b)
Cosmetics and Perfumes
(c)
Chemicals
(d)
Plastic

17 )

Industrial Growth in India is found in _____________ Units.

(a)
Public Sector
(b)
Private Sector
(c)
Both (a) and (b)
(d)
Neither (a) nor (b)

18 )

Expansion in infrastructural facilities include -

(a)
Railway Electrification and Dieselization
(b)
Extraction of Petroleum and Gas Reserves
(c)
Hydro, Thermal and Atomic Power Generation
(d)
All of the above

19 )

In which year Income tax was first introduced -

(a)
1860
(b)
1873
(c)
1948
(d)
1950

20 )

Direct Taxes are imposed on -

(a)
Income / Wealth of the Taxpayer
(b)
Purchase / Sale / Manufacture of goods and Provision of Services
(c)
Both (a) and (b)
(d)
Neither (a) nor (b)

21 )

_____________ was introduced in 1958 and abolished in 1998.

(a)
Income Tax
(b)
Wealth Tax
(c)
Gift Tax
(d)
Estate Duty

22 )

In India, the majority of the contribution to Tax Revenue is by way of -

(a)
Direct Taxes
(b)
Indirect Taxes
(c)
No Taxes
(d)
Nothing can be said

23 )

Measurement at Current Prices constitute -

(a)
Nominal Value
(b)
Real Value
(c)
Both (a) and (b)
(d)
Neither (a) nor (b)

24 )

Net Domestic Product (NDP) equals -

(a)
GDP plus Depreciation
(b)
GDP minus Depreciation
(c)
GNP plus Depreciation
(d)
GNP minus Depreciation

25 )

National income differs from Net National product at market price by the amount of-

(a)
Net indirect taxes
(b)
National bebtinterest
(c)
Subsidies
(d)
Current transfers from the rest of the world

26 )

GDP at market prices = ______________

(a)
GNP at MP - Depreciation
(b)
GNP at MP - NFIA
(c)
GNP at FC - Depreciation
(d)
GNP at FC - NFIA

27 )

______________ is the sum of all incomes actually received by individuals during a given year.

(a)
National Income
(b)
Personal Income
(c)
Personal Disposable Income
(d)
Government Income

28 )

The production method of calculating national income is also known as ______________

(a)
Value added method
(b)
Income method
(c)
Expenditure method
(d)
None of the above

29 )

______________ Sectors have expenditure in the economy.

(a)
Household Sector
(b)
Business Sector
(c)
Government Sector
(d)
All of the above

30 )

Which of the following relationships is true?

(a)
Net Domestic Saving = Net Personal Saving - Retained Earning of Domestic Companies
(b)
Gross Domestic Saving = Net Domestic Saving + Budget Surplus
(c)
Gross Domestic Investment = Gross Fixed Investment + Change in Consumption
(d)
Gross Domestic Product = Consumption + Gross Investment + Government Expenditure + Net Exports