Economic and Social Issues for NABARD, RBI Quiz-1

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1. In the production approach of calculating GDP, how do we calculate GDP at market prices?

Value added at basic prices + taxes on goods and services – subsidies on goods and services.

Total National Income + Sales Taxes + Depreciation + Net Foreign Factor Income.

Value added at basic prices – taxes on goods and services + subsidies on goods and services.

Consumption (C) + Investment (I) + Government Spending (G) + Net Exports

None of the above

2. While comparing the GDP of any two economies, we adjust for price level differences between the two economies using this tool?

GDF Deflator

GDP per capita

Purchasing Power Parity

Price Index

None of the above

3. Which of the following is not true about GVA?

It gives a picture of the state of economic activity from the producers’ side or supply side.

It facilitates easy cross country comparisons.

The calculation of GVA excludes indirect taxes.

It can be calculated at various levels- firms, industries or sectors.

All are correct

4. India’s ambitious Zero Hunger Programme was initiated by which of the following?

Indian Council of Agricultural Research

Kerala Farmers Federation

Agricultural Promotion and Investment Corporation of Odisha Limited

National Commission on Agriculture

None of the above

5. Sarkaria Commission was setup in:

1999

1984

1991

1987

1994

6. When was Central Vigilance Commission established?

1964

1965

1966

1967

1968

7. Who was the first Chief Election Commissioner of India?

Kalyan Sundaram

T.N Seshan

Sukumar Sen

H.S Brahma

Nasim Zaidi

8. As per the budget 2018-19, the fiscal deficit is targeted at what percentage of the GDP?

3.4%

3.2%

3.7%

3.3%

3.5%

9. The scheme pertaining to leadership development of minority women and being implemented by the Ministry of Minority Affairs is named ___________?

Nai Manzil

Nai Roshni

Mahila Samriddhi Yojna

Nai Udaan

None of above

10. Which theory attempts to explain the functioning of economic markets as a whole, rather than as individual phenomena?

Theory of General Equilibrium

Theory of Supply

Consumer theory

Progressive theory of capital

None of the above