UPSC 2018 › Indian Economy › National Income & Economic Growth

3 questions · 2018 · answers as per the UPSC key

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All years of National Income & Economic Growth · Full UPSC 2018 paper
UPSC 2018 · Q47 · Indian Economy › National Income & Economic Growth · Save

If a commodity is provided free to the public by the Government, then

(a) the opportunity cost is zero.
(b) the opportunity cost is ignored.
(c) the opportunity cost is transferred from the consumers of the product to the tax-paying public.
(d) the opportunity cost is transferred from the consumers of the product to the Government.
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Answer: (c) the opportunity cost is transferred from the consumers of the product to the tax-paying public.
UPSC 2018 · Q48 · Indian Economy › National Income & Economic Growth · Save

Increase in absolute and per capita real GNP do not connote a higher level of economic development, if

(a) industrial output fails to keep pace with agricultural output.
(b) agricultural output fails to keep pace with industrial output.
(c) poverty and unemployment increase.
(d) imports grow faster than exports.
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Answer: (c) poverty and unemployment increase.
UPSC 2018 · Q50 · Indian Economy › National Income & Economic Growth · Save

Despite being a high saving economy, capital formation may not result in significant increase in output due to

(a) weak administrative machinery
(b) illiteracy
(c) high population density
(d) high capital-output ratio
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Answer: (d) high capital-output ratio