Indian Economy › National Income & Economic Growth – UPSC Prelims PYQs

With reference to the sectors of the Indian economy, consider the following pairs : Economic activity | Sector

1. Storage of agricultural produce | Secondary
2. Dairy farm | Primary
3. Mineral exploration | Tertiary
4. Weaving cloth | Secondary

How many of the pairs given above are correctly matched ?

With reference to physical capital in Indian economy, consider the following pairs : Items | Category

1. Farmer's plough | Working capital
2. Computer | Fixed capital
3. Yarn used by the weaver | Fixed capital
4. Petrol | Working capital

How many of the above pairs are correctly matched ?

Which of the following activities constitute real sector in the economy ?

1. Farmers harvesting their crops
2. Textile mills converting raw cotton into fabrics
3. A commercial bank lending money to a trading company
4. A corporate body issuing Rupee Denominated Bonds overseas

Select the correct answer using the code given below :

Consider the following statements : Other things remaining unchanged, market demand for a good might increase if

1. price of its substitute increases
2. price of its complement increases
3. the good is an inferior good and income of the consumers increases
4. its price falls

Which of the above statements are correct?

With reference to Indian economy, demand-pull inflation can be caused/increased by which of the following?

1. Expansionary policies
2. Fiscal stimulus
3. Inflation-indexing wages
4. Higher purchasing power
5. Rising interest rates

Select the correct answer using the code given below.

Consider the following statements :

1. Purchasing Power Parity (PPP) exchange rates are calculated by comparing the prices of the same basket of goods and services in different countries.
2. In terms of PPP dollars, India is the sixth largest economy in the world.

Which of the statements given above is/are correct?

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

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

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

With reference to Indian economy, consider the following statements :

1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade.
2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade.

Which of the statements given above is/are correct?

Economic growth in country X will necessarily have to occur if

The national income of a country for a given period is equal to the

In the context of Indian economy, consider the following statements:

1. The growth rate of GDP has steadily increased in the last five years.
2. The growth rate in per capita income has steadily increased in the last five years.

Which of the statements given above is/are correct?

In the context of Indian economy, consider the following pairs:

1. Melt down – Fall in stock prices
2. Recession – Fall in growth rate
3. Slow down – Fall in GDP

Which of the pairs given above is/are correctly matched?

With reference to BRIC countries, consider the following statements:

1. At present, China’s GDP is more than the combined GDP of all the three other countries.
2. China’s population is more than the combined population of any two other countries.

Which of the statements given above is/are correct?

With reference to Indian economy, consider the following statements :

1. The Gross Domestic Product (GDP) has increased by four times in the last 10 years.
2. The percentage share of Public Sector in GDP has declined in the last 10 years.

Which of the statements given above is/are correct ?

The term “Prisoner’s Dilemma” is associated with which one of the following?

Which one of the following is the correct sequence in the decreasing order of contribution of different sectors to the Gross Domestic Product of India?

Which one among the following countries has the lowest GDP per capita?

With reference to the Indian economy, consider the following activities:

1. Agriculture, Forestry and Fishing
2. Manufacturing
3. Trade, Hotels, Transport and Communication
4. Financing, Insurance, Real Estate and Business services The decreasing order of the contribution of these sectors to the Gross Domestic Product (GDP) at factor cost at constant prices (2000-01) is

The term National Income represents

Consider the following States: I. Gujarat II. Karnataka III. Maharashtra IV. Tamil Nadu

The descending order of these States with reference to their level of Per Capita Net State Domestic Product is

The most appropriate measure of a country’s economic growth is its

The following table shows the percentage change in the consumption of electricity by five towns P, Q, R, S, T from 1986 to 1988: Town Per cent change from 1986 to 1987 From 1987 to 1988 P +8 −18 Q +15 −11 R +6 +9 S −7 −5 T +13 −6 If town T consumed 500,000 units in 1986, how much did it consume in 1988?

The growth rate of per capita income at current prices is higher than that of per capita income at constant prices, because the latter takes into account the rate of

The new Gross Domestic Product (GDP) series released by the Central Statistical Organisation (CSO) in February 1999 is with reference to base price of

Match List I with List II

and select the correct answer using the codes given below the Lists:

List I I. Boom II. Recession III. Depression IV. Recovery

List II A) Business activity at high level with increasing income, output and employment at macro level B) Gradual fall of income, output and employment with business activity in a low gear C) Unprecedented level of under employment and unemployment, drastic fall in income, output and employment D) Steady rise in the general level of prices, income, output and employment

Codes:

In an open economy, the national income (Y) of the economy is: (C, I, G, X, M stand for Consumption, Investment, Government Expenditure, total exports and total imports respectively.)

Consider the following statements:

1. There is persistent investment over time only in select locales.
2. Some areas are agro-climatically less conducive to development.
3. Some areas continue to face little or no agrarian transformation and the consequent lack of social and economic opportunities.
4. Some areas have faced continuous political instability.

Regional disparities in India are high and have been rising in recent years because

Which of the above statements are correct?

Since 1980, the share of the tertiary sector in the total GDP of India has

A consumer is said to be in equilibrium, if

The supply-side economics lays greater emphasis on the point of view of the

The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of

National Income is the

Assertion (A): Though India’s national income has gone up several fold since 1947, there has been no marked improvement in the per capita income level.

Reason (R): Sizeable proportion of the population of India is still living below the poverty line. In the context of the above two statements which one of the following is correct?

The main reason for low growth rate in India, in spite of high rate of savings and capital formation is

Consider the diagram given below: (Pie-chart showing family expenditure with segments labelled T: Transport, Ec: Education of children, H: Housing, C: Clothing, F: Food, S: Savings, O: Others.) From the diagram shown it would be right to conclude that