TNPSC Master: Economics

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4/23/2017

TNPSC - Economics and Commerce Questions with Answers

TNPSC Master 4/23/2017

1. Decimal system was introduced n Indian Monetary system from? 1957

2. Pus-Sugandha-5 is a variety of - Paddy

3. Kisan Credit Card Scheme was launched - 1998-99

4. Who is said to be Father of Economics - Adam Smith

5. The sate in which total cost equals to total revenue is called - Break even point

6. Market Economy means - Availability of Competitions

7. Zero Base Budgeting in government budget was at first prepared in - America

8. Economic problem mainly arises due to - Scarity of resources

9. Four Factor of Production are - Land, Labour, Capital and Organisation

10. Who Said, ; Supply decides its demand at its own'?. I.B.Saw

11. Amartya Sen received Nobel Prize of Economy in - 1998

12. The person described economic drainage theory at the British Time - Dadabhai Nauroji

13 Principle of Trusteeship was proposed by - M.K.Gandhi

14. Indian Economy may be termed as - A Developin Economy

15. Human Development Index was developed by - Pakistani economist Mahbub ul Haq

16. Second Five year plan was based on - Mahalbobis Model

17. Who wrote 'Wealth of Nations' - Adam Smisth

18. Who was Agrilculture Minister at the time of Green Revolution (1966) - C.Subramanyam.

19. National Dairy Development Board was established in - 1970

20. Two factors that influence per capita income are - National Income and Population

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1/02/2017

TNPSC General Economics MCQ - 3

TNPSC Master 1/02/2017 0

41. Returns to scale refers to the production function where

A. All factors are fixed

B. Some factors are fixed and others are variable

C. All factors are variable

D. None of the above

42. In the case of diminishing returns to scale, a given proportionate increase in all factors causes

A. A more than proportionate increase in output

B. An equal proportionate increase in output

C. A less than proportionate increase in output

D. None of the above

43. Increasing returns to scale occurs due to

A. Division of labour C. Economies of scale

B. Specialization D. All of the above

44. The cause for diminishing returns to scale is:

A. Improper proportion of factors of production

B. Difficulty in the combination of certain factors

C. Excess combination of certain factors

D. All of the above

45. The solution to diminishing returns to scale is :

A. Technical progress

B. Expansion of resources

C. Proper combination or resources

D. All of the above

46. Economies of scale refers to:

A. Advantages resulting from large scale production

B. Disadvantages resulting from large scale production

C. Advantages resulting from the increase in the number of consumers

D. All of the above

47. Which one of the following is not related to economies of scale:

A. Scope for division of labour and specialization

B. Scope for getting inputs at cheaper rates

C. Difficulty faces by the managers to coordinate the business

D. Scope for better storage facilities

48. The law of Diminishing returns is applicable to:

A. Agriculture only C. In short-run only

B. Industry only D. Universally

49. Let a firm employs 5 labourers and produces 120 units of output. When 6 labourers are employed the firm produces 136 units of output. Then the marginal product is________

A. 120 C. 6

B. 136 D. 16

50. A firm produces 200 units of commodity X by employing 10 workers and 240 units of the same commodity by employing 12 workers. Then the Average Product of the worker is _______

A. 200 C. 20

B. 240 D. 40

51. Other things remaining the same, the quantity of a product demanded increases with __________ in price.

A. Increase

B. Decrease

C. Variation

D. None of the above

52. When total utility is maximum, marginal utility is:

A. Maximum

B. One

C. Zero

D. Infinite

53. For complementary goods, the cross elasticity of demand:

A. Positive

B. Negative

C. Zero

D. None

54. Relation between price of a commodity and demand for another

commodity is measured by:

A. Price elasticity

B. Income elasticity

C. Cross elasticity

D. Elasticity of substitution

55. When TU falls, MU is:

A. Rises

B. Zero

C. Positive

D. Negative

56. Demand varies ________ with price.

A. Directly

B. Positively

C. Inversely

D. None of the above

57. When Q = f (P), the elasticity coefficient is measured by:

A. ∆Q/∆P / P/Q

B. ∆P/∆Q * Q/P

C. ∆Q/∆P * P/Q

D. ∆P/∆Q / Q/P

58. Income elasticity of demand for inferior good is:

A. Negative

B. Positive

C. Zero

D. Unity

59. In the case of luxury goods, the income elasticity of demand will be:

A. Less than unity

B. Unity

C. More than unity

D. All the above

60. Income elasticity is positive, but less than unity in the case of:

A. Necessity

B. Luxury

C. Inferior

D. Substitutes

Answer Keys

41 C 42 C 43 D 44 D 45 D 46 A 47 C 48 D 49 D 50 C

51 B 52 C 53 B 54 C 55 D 56 C 57 C 58 A 59 C 60 A

Tags # Economics # General Knowledge # General Studies Continue Reading

TNPSC General Economics MCQ - 2

TNPSC Master 1/02/2017 0

21. Transformation of inputs into outputs is known as

A. Production C. Distribution

B. Consumption D. Exchange

22. ----- is an example of secondary input

A. Land C. Capital

B. Labour D. Raw material

23. Odd-man out from the following

A. Steel C. Education

B. Medicine D. Train

24. The choice of techniques of production is related to the problem of

A. What to produce C. For whom to produce

B. How to produce D. None of the above

25. The functional relationship between inputs and outputs is called

A. Production function C. Investment function

B. Consumption function D. Saving function

26. Firms owned by one individual is known as

A. Proprietorship C. Corporations

B. Partnership D. None of the above

27. Firms owned by two or more individuals is known as

A. Proprietorship C. Corporations

B. Partnership D. None of the above

28. Firms owned by stock holders are known as

A. Proprietorship C. Corporations

B. Partnership D. None of the above

29. The major objective of a firm is

A. Profit maximization C. Sales maximization

B. Revenue maximization D. None of the above

30. Which one of the following is an example of fixed input

A. Raw materials C. Plant and equipments

B. Casual workers D. All of the above

31. In short-run

A. All inputs are fixed

B. All inputs are variable

C. Some inputs are fixed and some are variable

D. None of the above

32. In long-run

A. All inputs are fixed

B. All inputs are variable

C. Some inputs are fixed and some are variable

D. None of the above

33. Marginal product of a factor is

A. The additional product received by the firm due to the employment of an additional unit of a variable factor

B. Addition to the total product when one more unit of a factor is employed

C. The rate of change in the total product per unit change in the

variable factor.

D. All of the above

34. Production function expresses

A. The relationship between input and output

B. How maximum output is produced with the given input

C. What is the least-cost combination of input to produce the given output

D. All of the above

35. The variable cost of a firm vary in direct proportion to the

A. Volume of its output C. Volume of its sale

B. Extent of its profits D. All of the above

36. Law of variable proportions is concerned with

A. Long-run production function

B. Laws of returns to scale

C. Short-run production function

D. None of the above

37. The ‘point of inflection’ come in which stage of the law of variable proportions

A. Stage I C. Stage III

B. Stage II D. None of the above

38. A rational producer will select his level of production in which stage of the law of variable proportions

A. Stage I C. Stage III

B. Stage II D. Either Stage I or Stage II

39. Total product reaches at maximum when

A. MP is increasing C. MP = 0

B. MP is maximum D. MP is negative

40. At the ‘point of inflection’

A. MP is maximum C. TP is maximum

B. AP is maximum D. All of the above

ANSWER KEYS

21 A 22 D 23 C 24 B 25 A 26 A 27 B 28 C 29 A 30 C

31 C 32 B 33 D 34 D 35 A 36 C 37 A 38 B 39 C 40 A

Tags # Economics # General Knowledge # General Studies Continue Reading

TNPSC General Economics MCQ - 1

TNPSC Master 1/02/2017 0

1. The subject matter of economics is concerned with

A. Production

C. Distribution and exchange

B. Consumption

D. All of the above

2. The economic problem arises since

A. Wants are unlimited

B. Resources are limited

C. Resources are capable of alternative uses

D. All of the above

3. The wants of the people are

A. Limited

C. Unlimited

B. Satiable

D. All of the above

4. Economic problem arises in

A. Planned economies

C. Mixed economies

B. Free market economies

D. All of the above

5. The resources are :

A. Limited

B. Unlimited

C. Not only limited but are capable of alternative uses

D. None of the above

6. Which one of the following is an example of an economic good

A. Sunlight

C. Petrol

B. Air

D. None of the above

7. ----- is not an example of free good

A. Sunlight

C. Petrol

B. Car

D. Computer

8. The term production refers to:

A. Producing things which are capable of satisfying human wants

B. Creation or addition of utilities

C. Transformation of inputs into output

D. All of the above

9. The problem of allocation of resources is concerned with:

A. What to produce

C. For whom to produce

B. How to produce

D. All of the above

10. The distribution of national product among the members of the society is the problem of:

A. What to produce

C. For whom to produce

B. How to produce

D. All of the above

11. Production is said to be efficient when:

A. The re-allocation of resources cannot increase the production of the article even by one unit

B. More output is produced with the given input

C. Resources are fully employed

D. All of the above

12. Which one of the following come under macro economics:

A. Per capita income

C. Individual income

B. Study of a firm

D. Theory of factor pricing

13. Which one of the following is not come under macro economics

A. National income

C. Disposable income

B. Per capita income

D. Individual income

14. Partial equilibrium analysis come under:

A. Micro economics

C. Welfare economics

B. Macro economics

D. International economics

15. “The starting point of all economic activity is the existence of human wants” Who said this?

A. Adam Smith

C. Ricardo

B. Selligman

D. Alfred Marshall

16. Production and consumption takes place simultaneously in the case of

A. Goods

B. Services

C. Both in the case of goods and services

D. Neither in the case of goods and services

17. Economics is a social science because

A. The central point in economics is man and his problems

B. Economics uses scientific approach to derive its laws

C. Like History, Politics and Psychology economics deals with the problems of human being

D. All of the above

18. Economic growth can be achieved through

A. Advanced technology

C. Both A & B

B. Expansion of resources

D. Neither A & B

19. Micro economics doesn’t deal with:

A. The study of individual economic units

B. Determination of factor prices

C. Price determination of commodities

D. General equilibrium analysis

20. Name the economist who analyses the subject matter of economics into two branches: micro economic analysis and macro economic analysis.

A. Adam Smith

C. Ragner Frisch

B. Alfred Marshall

D. P A Samuelson

ANSWER KEYS

1 D 2 D 3 C 4 D 5 C 6 C 7 A 8 D 9 A 10 C

11 A 12 A 13 D 14 A 15 B 16 B 17 D 18 C 19 D

20 C

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11/05/2016

List of Five year plan and Details of NITI Aayog for all Exams Preparation

TNPSC Master 11/05/2016 0

Five year Plan

What is Five year Plane?: Five Year Plans is centralized and integrated National Economic Programs. First implemented Five year plan in the Soviet Union (Present Russia) in the late 1920s by Joseph Stalin . India launched its First Five year plan in 1951, Jawaharlal Nehru was the first Chairman of the Planning Commission.

List of Five year Plan and Its Target

First Five Plan - 1951–1956 - Target: 2.1 and Achieved: 3.61 (The First Five Year Plan was based on the Harrod–Domar model)
Second Five Plan - 1956–1961 - Target: 4.5 and Achieved: 4.27 (The Second Five Year Plan was based on the Mahalanobis model)
Third Five Plan - 1961–1966 - Target: 5.6 and Achieved: 2.84
Fourth Five Plan - 1969–1974 - Target: 5.7 and Achieved: 3.30
Fifth Five Plan - 1974–1978 - Target: 4.4 and Achieved: 4.80
Sixth Five Plan - 1980–1985 - Target: 5.2 and Achieved: 5.66
Seventh Five Plan - 1985–1990 - Target: 5.0 and Achieved: 6.01
Eighth Five Plan - 1992–1997 - Target: 5.6 and Achieved: 6.78
Ninth Five Plan - 1997–2002 - Target: 57.6 and Achieved: 43.3
Tenth Five Plan - 2002–2007 - Target: 52.9 and Achieved: 47.8
Eleventh Five Plan - 2007–2012 - Target: 47.8 and Achieved: 45.7
Twelfth Five Plan - 2012–2017 - Target: 45.2 and Achieved: 34.3

Rolling Plan and Annual Plan

Rolling Plan - 1978–1980
Annual Plans - 1990–1992

NITI Aayog (National Institution for Transforming India): National Institution for Transforming India Aayog is a Government of India policy think-tank established by Prime Minister Narendra Modi after his having dissolved the Planning Commission. The Union Government of India announced formation of NITI Aayog on 01.01.2015 and the first meeting of NITI Aayog was held on 08.02.2015. Here given the details of Chairman and Members of NITI Aayog etc.

Chairperson: Shri Narendra Modi, Hon'ble Prime Minister of India

Vice Chairperson: Shri Arvind Panagariya

Full-Time Members

Shri Bibek Debroy
Shri V.K. Saraswat
Prof. Ramesh Chand

Ex-officio Members

Shri Rajnath Singh, Minister of Home Affairs
Shri Arun Jaitley, Minister of Finance; Minister of Corporate Affairs; and Minister of Information and Broadcasting
Shri Suresh Prabhu, Minister of Railways
Shri Radha Mohan Singh, Minister of Agriculture

Special Invitees

Shri Nitin Gadkari, Minister of Road Transport and Highways; and Minister of Shipping
Shri Thawar Chand Gehlot,Minister of Social Justice and Empowerment
Smt. Smriti Zubin Irani, Minister of Human Resource Development.

Chief Executive Officer: Smt. Sindhushree Khullar

-------------------------------------------------------------------------------

References:

Tags # Commerce # Economics # General Knowledge Continue Reading

8/17/2016

TNPSC - Economics Important Questions with Answers - 4

TNPSC Master 8/17/2016 0

Which State produces maximum pulses in the country? – Madhya Pradesh
In which activity percentage share of cooperative sector is the highest? – Sugar production
Economic Planning is a subject of which list? – Union List
When was the Rolling plan designed? – 1978-83
Why is Poverty in less developed countries largely? – Due to income inequality
Among the remedies of inflation, what can we include? – Lowering bank rate
Who sings on One-rupee currency notes? – Finance Secretary of India
terms of economics, which recession occurring two times with a small gap in between? – Deep Recession
In India, which first bank of limited liability managed by Indians and founded in 1881? – Oudh Commercial Bank
Bouncing of cheques has become an offence. What is the punishment for the same? – 6 months imprisonment
Which Public Sector bank’ emblem figures a dog and the words ‘faithful, friendly’ in it? – Syndicate Bank
What does Inflation imply? – Rise in general price index
When was the decimal system of currency introduced in India? – 1957
What is the mean of Cheap Money? – Low Rate of Interest
Which bank is the Banker of the Banks? – RBI
From where does the National Stock Exchange functions? – Mumbai
Which is the oldest ‘stock exchange of India? – Bombay Stock Exchange
By which bill does the government make arrangement for the collection of revenues for a year? – Finance Bill
If the price of an inferior good falls, what about its demand? – Remains constant
In which year was Railway Budget in India separated from general budget? – 1924-25
What is the investment in public works? – Capital expenditure
With which Economic growth is usually coupled? – Inflation
Which is the largest (in terms of turnover) Public Sector organisation in India? – Indian Oil Corporation
How is the difference between visible exports and visible imports defined? – Balance of trade
Who long do the World Bank and IMF give respectively? – Long term and short term credits
Consequent upon the recommendations of the Working Group on Rural Banks, in which year were 5 Rural Regional Banks initially set up? – 1975
Through which methods is the national income of India estimated mainly? – Production and income methods
From when was the Zero Base Budgeting in India first experimented? – April, 1987
On which do Companies pay Corporation Tax? – Incomes
Why is the Gross National Income always more than Net National Income? – Direct taxes
Which is the updated base for Wholesale Price Index (WPI) ? – 2004-2005
After textiles, which is India’s second important industry? – Iron and steel
What is the effect of inflation on tax revenue results in a situation? – Fiscal drag
By which band is Monetary policy regulated? – Central Bank
Immediately prior to change in the measure of Food Inflation, which index was being used for measuring it? – Wholesale Price Index
Who is responsible for the collection and publication of monetary and financial information? – Reserve Bank of India
Which is at the apex of Industrial Finance in India? – Industrial Development Bank of India
Which bank gives long term loan to farmers? – Land Development Bank
During whose viceroyalty was the system of Budget introduced in India? – Canning
Who is the chairman of 13th Finance Commission? – Vijay Kelkar
Main’ bearers of the burden of indirect tax are? – consumers
Which Committee was formed to suggest means for eradicating black money? – Cheiliah Committee
What is the mean of Ad Valorem? – According to value
The ‘Uruguay Round’ negotiations resulted in the establishment of which organization? – WTO
From which country does More than one-third of the crude steel production of the world comes? – China
What is the mean of ‘Take off stage’ in an economy? – Steady growth begins
When had India a plan holiday? – After the drought of 1966
Who was the first Chairman of the Planning Commission? – Pt. Jawahar Lal Nehru
Which Committee’s recommendations are being followed for estimating Poverty Line in India? – Lakdawala Committee
For which purpose, the Government has launched the Rajiv Awas Yojana? – To provide affordable houses to rural poor

Tags # Economics # General Knowledge # General Studies Continue Reading

TNPSC - Economics Important Questions with Answers - 3

TNPSC Master 8/17/2016 0

1. CENVAT is associated with which rate? – Rate of indirect tax

2. What does National income ignore? – Salary of employees

3. How is Indian economy ? – Mixed economy

4. Upon which development the Second Five Year Plan laid mote stress? – Industrialisation

5. Which is the amount of insurance cover provided to the workers of the unorganized sector under Rashtriya Swasthya Bima Yojana ? – Rs. 30,0007

6. What is the inflation experienced in the country at present? – Cost-push inflation

7. What is Broad money in India? – M3

8. By which bank are the central banking functions in India performed? – Reserve Bank of India

9. Of which bills Open market operations of a Central Bank are sale and purchase? – Trade bills

10. Stock Exchanges play a role in an economy how may itbe termed? – Useful but need strict regulation

11. What is temporary tax levied to obtain additional revenue? – Surcharge

12. Among Indian Economists who had done pioneering work on National Income ? – V. K. R. V. Rao

13. From which sector is the largest contribution in India’s National Income? – Tertiary sector

14. The highest-weight in the revised Whole Sale Price Index, implemented from September 2010 is given to which item? – Food items

15. The performance of which industry is considered performance of the core industry? – Oil and Petroleum

16. Which is the biggest Public Sector undertaking in the country? – Railways

17. Which committee was assigned to recommend reforms in the insurance sector? – Malhotra Committee

18. What percentage of country’s demand for natural rubber is met by in indigenous production? – 97%

19. What is the main source of fund for the National Highway Authority of India? – Cess

20. Which body finalises the Five Year Plan proposals? – National Development Council

21. By whom was the first attempt to initiate economic planning in India made? – By M. Visvesvaraya

22. In five year plan the actual growth performance in India in respect of GDP (at factor cost) was less than the target set? – Ninth five year plan

23. Under Indira Gandhi National Old Age Pension Scheme (IGNOAPS), the benefits are available to the people having howmuch minimum age of? – 65 years

24. What is an essential attribute of inflation? – Increase in prices

25. Which bank prints currency notes of the denomination of Rs. 100? – The Bank Note Press, Dewas

26. Amongst the currency quotes USD/JPY, USD/Euro and USD/CAD, which one is referred as the base currency for quotes? – US $

27. Of which purpose was Nationalisation of banks done? – Consolidating the economy

28. In which year, some more commercial banks in addition to the first lot of 141 were nationalised in India? – 1980

29. Who are Debenture holders of a company? – Its creditors

30. What is the basic attribute of a formal organization? – Rules and regulations

31. In recent years, how have the capital outlays for the defence service? – Increasing steadily

32. Which tax is not levied by the Union Government? – Profession Tax

33. Which organizations agency is involved in drafting the Union Budget of India? – Administrative Ministries only

34. Which agency has the power to declare any industrial unit as a potentially sick unit? – BIFR

35. What is the mean of Invisible Export? – Export Services

36. In India, in which sector was the co-operative movement initiated ? – Agricultural credit

37. In India, which is regulated by the forward Markets Commission? – Commodities Futures Trading

38. For internal financing of Five Year Plans, the government depends on which source? – Taxation only

39. Who was the author of the chapter on “Objectives of Planned Development” for the Third Five Year Plan? – Morarji Desai

40. Of the various ways of financing government’s investment expenditure, what is the least inflationary? – taxation

41. Which Mahatma Gandhi series of currency notes issued by the RBI has “ecology” depicted on it ? – Rs. 100

42. To prevent recurrence of scams in Indian Capital Market, To whom has the Government assigned regulatory powers? – SEBI

43. In 1921, the Presidency Banks of Bengal, Madras and Bombay were nationalised to give birth to which bank? – State Bank of India

44. From which sector does the highest sector wise contribution to gross domestic saving comes? – Household sector

45. In the short run, a producer,’ how long continues his production? – Fixed cost

46. Which is the largest importer country of Indian textile? – USA

47. What does the ‘Year of Great Divide’ refere? – To rapid growth rate in population after 1921

48. What was the decentralisation system recommended? – Balwant Rai Mehta

49. What is the principal source of revenue to the State Government in India? – Sales Tax

50. A crossed cheque is one, which can be encashed only at which bank? – State Bank of India

Tags # Economics # General Knowledge # General Studies Continue Reading

TNPSC - Economics Important Questions with Answers - 2

TNPSC Master 8/17/2016 0

1. Which one of the following pairs is called an open market operation?

(a) Selling and buying of securities or bills by the central bank

(b) Selling and buying of foreign exchange

(d) Selling and buying of gold in the open market by commercial banks

Answer: A

2. Which one of the following is a source of non-tax revenue for governments?

(a) Import duty on cars

(b) Octroi at check points on roads

(d) Excise duty on beverages

Answer: C

3. The Laffer Curve explains the relationship between which of the following?

(a) Tax rates and tax revenue

(b) Tax rates and employment

(d) Tax rates and government expenditure

Answer: A

4. What does an increase in the ratio of revenue deficit to gross fiscal deficit indicate?

(a) An increase in investment

(b) an increase in the utilization of borrowed funds for revenue purposes

(d) An increase in the utilization of borrowed funds for lending

Answer: B

5. Which of the following is not a non-tariff barrier?

(a) Voluntary export restraint

(b) Health and product standards

(d) Ad-valorem duties

Answer: D

6. In the Balance-of-Payment Account, the transfer payments are included in which one of the following?

(a) Current account

(b) Service account

(d) Official Reserves account

Answer: A

7. Which one of the following explains Balance-of-Payment adjustment mechanism under the gold standard?

(a) Devaluation

(b) Flexible exchange rates

(d) Price-specie flow mechanism

Answer: D

8. Which of the following is the highest form of economic integration among different nations?

(a) Custom Union

(b) Free Trade Area

(d) Common Market

Answer: D

9. Which one of the following best characterizes the Bretton Woods System of exchange rates?

(a) Adjustable fixed exchange rates

(b) Fixed exchange rates

(d) Pegged exchange rates

Answer: C

0. Which of the following is meant by growth in the context of growth and development?

(a) Growth of gross national product in money terms

(b) Growth of per capita income in money terms

(d) Growth of per capita income in real terms

Answer: D

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TNPSC - Economics Important Questions with Answers - 1

TNPSC Master 8/17/2016 0

1.Income consumption line of the ‘Consumer Theory’ is analogous in ‘Production Theory’ to which one of the following?

(a) Expansion path

(b) Isoquant line

(d) Isocost line

Answer: A

2. Which one of the following is the correct sequence of magnitude of minimal in ascending order in marginal cost (MC) curve, average cost (AC) curve and average variable cost (AVC) curve?

(a) MC, AVC, AC

(b) AVC, AC, MC

(d) AC, MC, AVC

Answer: A

3. Given What is the approximate percentage in real capital GNP?

% change in nominal GNP = 1.8

% change in population = 0.5

% change in price level = 1.3

(a) Zero

(b) 0.5

(d) 1.3

Answer: C

4. Who developed the Time Preference Theory of Interest?

(a) Irving Fisher

(b) N. Senior

(d) J.M. Keynes

Answer: A

5. Which one of the following is the most important determinant of speculative demand for money?

(a) Income

(b) Interest rate

(d) Prices

Answer: B

6. Which one of the following equations was used by Fischer to explain the Quantity Theory of Money? (Symbols have their usual meanings)

(a) MV = PT

(b) MP = VT

(d) PV = MT

Answer: A

7. If Y is the total money income of the community, M is the money supply and P is the price level, then how is Vy (the income velocity of money) defined as?

(a) Vy = M/Y

(b) Vy = Y/M

(d) Yy = PY/M

Answer: D

8. When shall an increase in money supply have a small effect on nominal Gross Domestic Product?

(a) If the velocity is decreasing

(b) If the velocity is unchanged

(d) If the Government’s spending is also increasing

Answer: A

9. What is the theory that opening a country to world markets gives an opportunity to utilze unemployed and underemployed resources known as?

(a) Ricardian theory

(b) Heckscher – Ohlin theory

(d) Strategic trade Theory

Answer: C

10. Which one of the following is a qualitative credit control method?

(a) Open market operations

(b) Bank rate

(d) Moral suasion

Answer: D

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1/29/2016

Important Social Scheme for Competitive Examination

TNPSC Master 1/29/2016 0

Important Social Scheme ( Name, Year and Purpose)

Central Government Health Scheme (CGHS) - 1954 - Medical care facilities to Central Government employees, Pensioners.
Integrated Child Development Services - 1975 - Child Development
Integrated Rural Development Program - 1978 - Rural Development
Indira Awaas Yojana - 1985 - Finance assistance to construct rural Houses.
National Literacy Mission Programme - 1988 - Education
Midday Meal Scheme - 1995 - Free of Cost Lunch for School Children.
Sampoorna Grameen Rozgar Yojana - 2001 - Rural Self Employment
Pradhan Mantri Gram Sadak Yojana - 2000 - Rural Development
Kasturba Gandhi Balika Vidyalaya - 2004 - Education
Deendayal Disabled Rehabilitation Scheme - 2003 - Social Justice
Rajiv Gandhi Grameen Vidyutikaran Yojana - 2005 - Rural Electrician
Janani Suraksha Yojana - 2005 - Mother Care
Jawaharlal Nehru National Urban Renewal Mission - 2005 - Urban Development.
Aam Aadmi Bima Yojana - 2007 - Insurance
Gramin Bhandaran Yojana - 2007 - Agriculture
National Food Security Mission - 2007 - Production and Productivity of Wheat, rice, and pulsus.
Bachat Lamp Yojana - 2009 - Electrification
Indira Gandhi Matritva Sahyog Yojana - 2010 - Mother Care
Pradhan Mantri Adarsh Gram Yojana - 2010 - Model Village
Pradhan Mantri Jan Dhan Yojana - 2014 - Financial Inclusion
Saksham or Rajiv Gandhi Scheme for Empowerment of Adolescent Boys - 2014 - Skill Development
Atal Pension Yojana - 2015 - Pension
Deen Dayal Upadhyaya Gram Jyoti Yojana - 2015 - Rural Power Supply
Digital India Programme - 2015 - Digitally Empowered Nation
Pradhan Mantri Suraksha Bima Yojana - 2015 - Insurance
Pradhan Mantri Jeevan Jyoti Bima Yojana - 2015 - Insurance
Smart Cities Mission - 2015 - Urban Development
Atal Mission for Rejuvenation and Urban Transformation - 2015 - Urban Development.

Tags # Economics # General Knowledge # General Studies Continue Reading

1/24/2016

Indian Economy - GDP, GNP, NNP, NI

TNPSC Master 1/24/2016 0

India - Gross Domestic Product (GDP) and Gross National Income (GNI).

Real GDP or Gross Domestic Product (GDP) at constant (2011-12) prices in the year 2014-15 is estimated at 106.44 lakh crore INR, showing a growth rate of 7.3 percent over the GDP for the year 2013-14 of 99.21 lakh crore.
Nominal GDP or GDP at current prices in the year 2014-15 is estimated at Rs. 125.41 lakh crore, with growth rate of 10.5 percent against Rs. 113.45 lakh crore for 2013-14.
The Gross National Income (GNI) at 2011 -12 prices is estimated at 105.13 lakh crore. At current prices, this figure is 123.84 lakh crore rupees.
In earlier estamates released on 9th February 2015, GDP at constant and current prices was 106.57 and 126.54 lakh crore INR, respectively.

(Sources and Reference: http://statisticstimes.com/)

National Income - (GDP, GNP, NNP, NI)

1. What is Gross Domestic Product (GDP)?

GDP = Domestic Products + Foreign income in India - Indian income in foreign countries

2. What is Gross National Product (GNP)?

GNP = GDP - Foreign income in India + Indian income in foreign countries

3. What is Net National Income (NNP)?

NNP = GNP - Depreciation

4. What is National Income (NI)

NI = NNP - Indirect taxes + Subsidies

For more details you may refer the following link: Click Here

Tags # Economics # General Knowledge # Group 1 Continue Reading

11/05/2015

Economics - Important Questions and Answers for All Competive Exams

TNPSC Master 11/05/2015 0

1. If Nominal GDP is equal to real GDP, then

a. The GDP deflator is equal to zero

b. The GDP deflator is equal to one

c. The GDP deflator is less than one

d. None of the above is correct

Answer: The GDP deflator is equal to one

2. Fiscal policy in India is formulated by

a. The Planning Commission

b. The Reserve Bank of India

c. The Finance Ministry

d. The Securities and Exchange board of India

Answer: The Finance Ministry

3. Which one of the following does not affect credit creation power of Commercial Banks?

a. Cash reserve ratio

b. Statutory liquidity ratio

c. Adequacy ratio

d. Cash-deposit ratio

Answer: Adequacy ratio

4. Special Drawings Rights (SDRs) relate to

a. The International Monetary Fund

b. The World Bank

c. The Reserve Bank of India

d. The World Trade Organization

Answer: The International Monetary Fund

5. The present Indian monetary system is based on

a. Gold Reserve System

b. Proportional Reserve System

c. Convertible Currency System

d. Minimum Reserve System

Answer: Minimum Reserve System

6. A situation where we have people whose level of income is not sufficient to meet the minimum consumption expenditure is considered as

a. Absolute Poverty

b. Relative Poverty

c. Urban Poverty

d. Rural Poverty

Answer: Absolute Poverty

7. Investment in human capital is related with expenditure in

a. Education

b. Training

c. Health services

d. All the above

Answer: All the above

8. India is called a mixed economy because of the existence of

a. Public Sector & Private Sector

b. Joint Sector only

c. Cooperative Sector

d. None of these

Answer: Public Sector & Private Sector

9. Who estimated the National Income for the first time in India?

a. Mahalanobis

b. V.K.R.V. Rao

c. Sardar Patel

d. Dadabhai Naoroji

Answer: Dadabhai Naoroji

10. When the productive capacity of the economic system of a State is inadequate to create a sufficient number of jobs, it is called

a. Seasonal Unemployment

b. Structural Unemployment

c. Disguised Unemployment

d. Cyclical Unemployment

Answer: Structural Unemployment

Tags # Commerce # Economics # General Studies Continue Reading

Economics - Important Questions for All Competive Exams

TNPSC Master 11/05/2015 0

1. Money supply is governed by the
a. Planning Commission
b. Finance Commission
c. Reserve Bank of India
d. Commercial Banks

Answer: Reserve Bank of India

2. Which one among the following is not true for Special Economic Zones?
a. No permission for subcontracting
b. No license is required for import
c. Manufacturing and service activities are allowed
d. No routine examination of cargo for export/import by customs authorities

Answer: No permission for subcontracting

3. Which one ignores National income
a. Sales of a firm
b. Sale of land
c. Salary of employees
d. Exports of the IT sector

Answer: Sale of land

4. Economic development depends on
a. Natural resources
b. Capital formation
c. Size of the market
d. All of the above

Answer: All of the above

5. National income is generated from
a. Any Laborious activity
b. Any Money making activity
c. Any Profit-making activity
d. Any Productive activity

Answer: Any Money making activity

6. Revealed Preference Theory was propounded by
a. Adam Smith
b. P.A.Samuelson
c. Marshall
d. S. Mill

Answer: P.A.Samuelson

7. The Draft of the Five Year Plans in India is approved by the
a. Planning Commission
b. National Productivity Council
c. National Development Council
d. Ministry of Finance

Answer: National Development Council

8. Nature of unemployment in agriculture in India is
a. Only disguised
b. Both (a) and (b)
c. Only seasonal
d. None of the above
Answer: Only seasonal

9. The terms "Micro Economics" and "Macro Economics" were coined by
Ragner Frisch
Alfred Marshall
Ragner Nurkse
J.M. Keynes
Answer: Ragner Frisch

10. Who among the following is not a neoclassical Economist?
a. Robert Solow
b. J.E.Meade
c. Paul Rom
d. T.W.Swan

Answer: T.W.Swan

Tags # Commerce # Economics # General Studies Continue Reading

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Indian Economy - GDP, GNP, NNP, NI

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Economics - Important Questions and Answers for All Competive Exams

Economics - Important Questions for All Competive Exams

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