This quiz works best with JavaScript enabled. Home > Class 12 > Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy – Quiz 11 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 11 (25 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. One of the following was high during British rule over India: A) Literacy rate. B) Female literacy rate. C) Infant mortality rate. D) Life expectancy. Show Answer Correct Answer: C) Infant mortality rate. 2. MGNREGA was first proposed in 1991 by A) Indra Ghandhi. B) P.V. Narasimha Rao. C) B.R Ambedkar. D) A.P.J. Kalam. Show Answer Correct Answer: B) P.V. Narasimha Rao. 3. Which are the qualitative techniques used in monetary policy1) Open market operations 2) Credit Rationing 3) Moral Suasion Which of the techniques given above are correct? A) Only 1 and 2. B) Only 2 and 3. C) Only 1 and 3. D) All of the above. Show Answer Correct Answer: B) Only 2 and 3. 4. "TRYSEM" a Programme made for the: A) Employment to Rural youths. B) Employment to Urban youths. C) Development of nutrition intake in the food of poor of the country. D) Providing road connectivity to the villages. Show Answer Correct Answer: A) Employment to Rural youths. 5. What was the share of Service Sector to GDP, in India on 1950-51 and 1990-91? A) 50%. B) 28 %. C) 40%. D) 80%. Show Answer Correct Answer: B) 28 %. 6. What is the main purpose of the Goods and Services Tax (GST) in India? A) To simplify the tax structure and unify indirect taxes in India. B) To eliminate all forms of taxation in India. C) To increase the overall tax burden on citizens. D) To promote only direct taxes in the economy. Show Answer Correct Answer: A) To simplify the tax structure and unify indirect taxes in India. 7. What is the primary objective of trade unions in collective bargaining? A) Create conflicts between workers and management. B) Negotiate better wages, benefits, and working conditions. C) Promote individual interests over collective goals. D) Focus solely on reducing company profits. Show Answer Correct Answer: B) Negotiate better wages, benefits, and working conditions. 8. What is the impact of digital India by 2019? A) E governance and e services are not there. B) Digitally not empowered citizen. C) Wi-Fi in 8700000 schools. D) Net zero imports by 2020. Show Answer Correct Answer: D) Net zero imports by 2020. 9. Consider the following statements:1. Arms length pricing and Transfer pricing are one and the same. 2. They refer to the transactions between the 2 divisions of the same company. Which of the above statements are correct? A) 1 only. B) 2 only. C) Both 1 and 2. D) Neither 1 nor 2. Show Answer Correct Answer: B) 2 only. 10. Economic development is a ..... concept than economic growth. A) Narrower. B) Wider. C) Better. D) Worse. Show Answer Correct Answer: B) Wider. 11. Consider the following statements about Advance Price Agreements:1. APAs help the companies to plan their tax payments in a better way. 2. APAs are useful in avoiding double taxation. Which of the above statements are correct? A) 1 only. B) 2 only. C) Both 1 and 2. D) Neither 1 nor 2. Show Answer Correct Answer: C) Both 1 and 2. 12. What is the definition of globalisation in this chapter? A) The integration between countries through foreign trade and foreign investments by multinational corporations (MNCs). B) The rapid rise and influence of MNCs in the globalisation process. C) The interconnectedness of regions across the world in various dimensions. D) The integration of production and markets through MNCs. Show Answer Correct Answer: A) The integration between countries through foreign trade and foreign investments by multinational corporations (MNCs). 13. Look at the following statements about real exchange rate1) It is taken as a measure of a country's international competitiveness 2) It refers to the relative price of goods 3) It has bearing on export and imports of the country Which of the statements given above are correct? A) Only 1 and 2. B) Only 2 and 3. C) Only 1 and 3. D) All of the above. Show Answer Correct Answer: D) All of the above. 14. Which of the following is a feature of the Indian economy? A) Resource-dependent economy. B) Manufacturing-driven economy. C) Service-oriented economy. D) Agricultural-based economy. Show Answer Correct Answer: C) Service-oriented economy. 15. Which of the following statements is true in respect of Public Sector? A) Big companies own most of the assets. B) Government owns the assets. C) A group of people owns most of the assets. D) An individual owns most of the assets. Show Answer Correct Answer: C) A group of people owns most of the assets. 16. Consider the following statements:1. Tax mitigation and Tax avoidance are one and the same. 2. Both come under the domain of strategies of Tax planning. Which of the above statements are correct? A) 1 only. B) 2 only. C) Both 1 and 2. D) Neither 1 nor 2. Show Answer Correct Answer: D) Neither 1 nor 2. 17. The labour force can be defined as: A) Those of workers who are seeking work and are available for work at current wage rate. B) Anyone who is working or actively seeking work. C) The population between school-leaving age and retirement age. D) Those who could claim benefit if they were to become unemployed. Show Answer Correct Answer: A) Those of workers who are seeking work and are available for work at current wage rate. 18. Which one is a primary occupation? A) Tailor. B) Basket weaver. C) Flower cultivator. D) Milk vendor. Show Answer Correct Answer: C) Flower cultivator. 19. ..... unemployment mainly occurs during recession or depression. A) Structural. B) Frictional. C) Cyclical. D) Disguised. Show Answer Correct Answer: C) Cyclical. 20. Agriculture is an unorganized sector A) True. B) False. C) All the above. D) None of the above. Show Answer Correct Answer: A) True. 21. What are state highways? A) Roads linking a state capital with different district headquarters. B) Roads linking different districts in a state. C) Roads linking a state capital with other state capitals. D) Roads linking State capital with important cities. Show Answer Correct Answer: A) Roads linking a state capital with different district headquarters. 22. Full form of JAM A) Jan-Dhan Yojana, aapna and mobile. B) Jan-dhan Yojana Aadhaar and mobile connectivity. C) Jan dhan Yojana Aadhaar and Mani connectivity. D) Jan dhan Yojana ATM and mobile connectivity. Show Answer Correct Answer: B) Jan-dhan Yojana Aadhaar and mobile connectivity. 23. When we produce goods by exploiting natural resources, it is an activity of ..... A) Primary sector. B) Secondary sector. C) Tertiary sectory. D) Industrial sector. Show Answer Correct Answer: A) Primary sector. 24. What is the current status of the Indian economy as of 2023? A) The Indian economy is stagnant with no growth expected in 2023. B) The Indian economy is growing at a rate of 10% in 2023 without any challenges. C) The Indian economy is growing at a rate of 6-7% in 2023, facing challenges like inflation and global uncertainties. D) The Indian economy is in a recession with a negative growth rate. Show Answer Correct Answer: C) The Indian economy is growing at a rate of 6-7% in 2023, facing challenges like inflation and global uncertainties. 25. Deendayal Upadhyay Shramev Jayate Karyakram does not include which? A) Apprentice Protsahan Yojana. B) Pradhan Mantri Rozgar Protsahan Yojana. C) Revamped Rashtriya Swasthya Bima Yojana. D) Universal Account Number. Show Answer Correct Answer: B) Pradhan Mantri Rozgar Protsahan Yojana. ← PreviousNext →Related QuizzesClass 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 1Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 2Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 3Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 4Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 5Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 6Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 7Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 8Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 9Class 12 Economics (Indian Economic Development) Chapter 2 Current Challenges Facing The Indian Economy Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books