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BPSC Economics Optional Objective Question Paper for Students
(A) First Five-Year Plan
(B) Second Five-Year Plan
(C) Third Five-Year Plan
(D) Fourth Five-Year Plan
Option b – Second Five-Year Plan
Planning in India, in a real sense, began with the Second Five-Year Plan. Who was the architect of Indian Planning?
(A) Jawaharlal Nehru
(B) Morarji Desai
(C) C.D. Deshmukh
(D) P.C. Mahalanobis
Option d – P.C. Mahalanobis
The core Sector in the planning means
(A) Agriculture
(B) Defense
(C) Iron and Steel Industry
(D) Selected Basic Industry
Option d – Selected Basic Industry
The goal of the Third Five-Year Plan in India is
(A) equal distribution of Income
(B) self-sufficiency and decreased dependency on foreign aid
(C) development of Backward castes
(D) increase in the share of the private sector
Option b – self-sufficiency and decreased dependency on foreign aid
The basic objective of the Fifth Five Years Plan was
(A) Poverty Removal
(B) Reforms in the public distribution system
(C) Inclusive growth
(D) Exclusive growth
Option a – Poverty Removal
During which Five Year Plan was the Emergency claimed, new elections took place and the Janta Party was elected?
(A) Third
(B) Fourth
(C) Fifth
(D) Sixth
Option c – Fifth
The slogan of ‘poverty abolition’ was given in which Five Year Plan?
(A) Second Plan
(B) Fourth Plan
(C) Fifth Plan
(D) Sixth Plan
Option c – Fifth Plan
What is the growth rate aimed at in the Eighth Five-Year Plan?
(A) 5.6%
(B) 6%
(C) 6.5%
(D) 7%
Option a – 5.6%
The period of the Eleventh Five-Year Plan in India was
(A) 2005-2010
(B) 2006-2011
(C) 2007-2012
(D) 2008-2013
Option c – 2007-2012
The Second Five Year Plan was based on which model?
(A) Solow model
(B) Domar model
(C) Robinson’s model
(D) Mahalanobis model
Option d – Mahalanobis model
Bank means
A) Capital organization
B) Commercial organisation
C) Savings organization
D) Loan organization
Option b – Commercial organisation
Banks give loans to these
A) Merchants
B) Industrialists
C) Students, farmers, craftsmen
D) All the above
Option d – All the above
The account for daily transactions
A) Savings account
B) Current account
C) Both A & B
D) None
Option b – Current account
The special feature of the current account
A) Countless withdrawals
B) Countless deposits
C) The bank pays no interest
D) All of the above
Option d – All of the above
ATM means
A) Automatic Teller Machine
B) Automated Teller Machine
C) Automatic Telling Machines
D) Automated Tellers
Option b – Automated Teller Machine
Online banking services can be accessed through these
A) Debit Card
B) Credit Card
D) All the above
Option d – All the above
One cannot withdraw an amount in a given period
A) Current deposit
B) Fixed deposit
C) Commercial deposit
D) All the above
Option b – Fixed deposit
The deposit has more rate of interest
A) Current deposit
B) Fixed deposit
C) Both A & B
D) None
Option b – Fixed deposit
Which one of the following is NOT correct?
(a) The Average Revenue and Marginal Revenue curves of a perfectly competitive firm are perfectly elastic
(b) The Marginal Revenue curve of the monopoly firm is above its Average Revenue curve
(c) In the long run, a competitive firm earns only normal profits
(d) In equilibrium, the Marginal Cost Curve of the monopoly firm may be rising, falling, or constant
Option b – The Marginal Revenue curve of the monopoly firm is above its Average Revenue curve
Zero price elasticity of demand means
(a) whatever the change in price, there is absolutely no change in demand
(b) for a small change in price, there is a small change in demand
(c) for a small change in price, there is a large change in demand
(d) for a large change in price, there is a small change in demand
Option a – whatever the change in price, there is absolutely no change in demand
In a closed economy with no taxes, if the marginal propensity to consume is always 0.90, then the value of the multiplier will be
(a) 10.00
(b) 1.00
(c) 0.90
(d) 0.10
Option b – 1.00
According to simple Keynesian theory, the slope of the aggregate consumption curve against income is
(a) Positive
(b) Negative
(c) Zero
(d) Infinity
Option b – Negative
In economics, if a diagram has a line passing through the origin and has a 45° angle with either axis and it is asserted that along the line X = Y, what is tacitly assumed?
(a) Both variables are pure numbers.
(b) Both variables are in the same unit.
(c) Both variables are in different units.
(d) At least one variable is a pure number.
Option b – Both variables are in the same unit
Normally, there will not be a shift in the demand curve when
(a) price of a commodity falls
(b) consumers want to buy more at any given price
(c) average income rises
(d) population grows
Option a – price of a commodity falls
A market, in which there are a large number of firms, homogeneous products, infinite elasticity of demand for an individual firm, and no control over a price by firms, is termed as
(a) Oligopoly
(b) Imperfect competition
(c) Monopolistic competition
(d) Perfect competition
Option d – Perfect competition
According to the Law of Diminishing Returns, in a production function when more and more units of the variable factor are used, holding the quantities of a fixed factor constant, a point is reached beyond which
(a) the marginal revenue will diminish
(b) the average revenue will diminish
(c) the marginal product will diminish
(d) the marginal product will increase
Option a – the marginal revenue will diminish
The eleventh Five Year Plan emphasized on
A) Economic Growth Social Justice
B) Economic Growth and Human Development
C) Faster and more inclusive growth
D) Faster, Sustainable, and more inclusive growth
Option c – Faster and more inclusive growth
In India, which of the following Five Year Plans was launched with a focus on sustainable growth?
A) 9th
B) 10th
C) 11th
D) 12th
Option d – 12th
‘Planning from below’ is known as
A) Centralised planning
B) Decentralised planning
C) Functional planning
D) Structural planning
Option b – Decentralised planning
In the context of India’s Five Year Plans, a shift in the pattern of Industrialisation, with lower infrastructure begins in
A) Fourth Plan
B) Sixth Plan
C) Eighth Plan
D) Tenth Plan
Option b – Sixth Plan
A) M. Visvesvaraya
B) J.R.D. Tata
C) G.D. Birla
D) Pattabhi Sitaramayya
Option a – M. Visvesvaraya
If interest payment is added to the primary deficit, it is equivalent to
A) Budget deficit
B) Fiscal deficit
C) Deficit financing
D) Revenue deficit
Option b – Fiscal deficit
……. is the difference between total receipts and total expenditure.
A) Capital deficit
B) Budget deficit
C) Fiscal deficit
D) Revenue deficit
Option b – Budget deficit
Which of the following comes under non-plan expenditure? 1. Subsidies 2. Interest Payments 3. Defense expenditure 4. Maintenance expenditure for the infrastructure created in the previous plans. Choose the correct answer using the codes given below.
A) Only 1 and 2
B) Only 1 and 3
C) Only 2 and 4
D) 1, 2, 3 and 4
Option d – 1, 2, 3 and 4
Which of the following are among the non-plan expenditures of the Government of India? 1. Defence expenditure 2. Subsidies 3. All expenditures linked with the previous plan periods 4. Interest payment
A) Only 1 and 2
B) Only 1 and 3
C) Only 2 and 4
D) 1, 2, 3 and 4
Option d – 1, 2, 3 and 4
The economic Survey in India is published officially, every year by the
A) Reserve Bank of India
B) Planning Commission of India
C) Ministry of Finance, Government of India
D) Ministry of Industries, Government of India
Option c – Ministry of Finance, Government of India
The registered exporters, whose export performance in several years is of high quality, are known as
(A) Export Houses
(B) Trading Houses
(C) Star Trading Houses
(D) None of the above
Option c – Star Trading Houses
The import procedure begins with
(A) Mate’s receipt
(B) Marine Insurance
(C) Indent
(D) Shipping bill
Option c – Indent
The concept of a ‘Joint Sector’ for the industrial development of India was envisaged in the Industrial Policy Resolution of
(A) 1948
(B) 1956
(C) 1980
(D) 1991
Option b – 1956
The licensing policy for the industries drew strength from
(A) Industrial Policy Resolution, 1948
(B) Industrial Policy Resolution, 1956
(C) Congress Party Resolution of establishing Socialistic pattern of society
(D) Industries Act 1951
Option d – Industries Act 1951
The second Green Revolution proposed by the Prime Minister does not include
(A) help Indian farmers to participate in global agricultural trade
(B) minimization of the post-harvest wastage
(C) improvement in the storage of crops
(D) encouragement to foreign direct investment in agriculture
Option d – encouragement to foreign direct investment in agriculture
Long-term agricultural credit is provided by
(A) Primary Cooperative Society
(B) District Cooperative Bank
(C) Land Development Bank
(D) State Cooperative Bank
Option c – Land Development Bank
As per the Micro, Small, and Medium Enterprises Development Act 2006, medium enterprises are defined as those with the investment of
(A) 25 lakhs to ₹5 crores
(B) 5 crores to ₹10 crores
(C) less than 10 crores
(D) more than 10 crores
Option b – 5 crores to ₹10 crores
In relation to Agricultural Finance and Refinance which institution is the biggest?
(A) Regional Rural Bank
(B) NABARD Institution
(C) Central Cooperative Bank
(D) Land Development Bank
Option b – NABARD Institution
….. got the highest priority during the first plan period in India.
(A) Self-reliance
(B) Growth with social justice
(C) Development of agriculture including irrigation
(D) Removed unemployment
Option c – Development of agriculture including irrigation
Khadi and village industry commission was established in
(A) Third Plan
(B) Fourth Plan
(C) Second Plan
(D) First Plan
Option c – Second Plan
Which plan among the following declared its objective of self-reliance and zero net foreign aid?
(A) Second Five-Year Plan
(B) Third Five-Year Plan
(C) Fourth Five-Year Plan
(D) Fifth Five-Year Plan
Option c – Fourth Five-Year Plan
Consider the following statements regarding Indian Planning. 1. The Second Five-Year Plan emphasized the establishment of heavy industries. 2. The Third Five-Year Plan introduced the concept of import substitution as a strategy for industrialization. Which of the statement(s) given above is/are correct?
(A) Only 1
(B) Only 2
(C) Both 1 and 2
(D) Neither 1 nor 2
Option c – Both 1 and 2
First Five Year Plan was started in
(A) 1951-52
(B) 1956-57
(C) 1961-62
(D) 1966-67
Option a – 1951-52
The Planned Development Model was adopted in India from
(A) 1st April 1951
(B) 15th August 1947
(C) 26th January 1950
(D) 1st May 1965
Option a – 1st April 1951
Which of the following Five Year Plans witnessed the highest growth rate in India?
(A) Eighth Plan
(B) Ninth Plan
(C) Tenth Plan
(D) Eleventh Plan
Option d – Eleventh Plan
In India, the planned economy is based on
(A) Gandhian System
(B) Socialist System
(C) Capitalist System
(D) a Mixed Economy System
Option d – a Mixed Economy System
The Gandhian Plan was expounded in 1944 by
(A) N.R. Sarkar
(B) Kasturi Bhai Lal Bhai
(C) Jai Prakash Narayan
(D) Shriman Narayan Agarwal
Option d – Shriman Narayan Agarwal
Consider the following prerequisites for planning. It is 1. For balanced socioeconomic development. 2. For extending the benefits of development in an even manner. 3. For focusing on the removal of regional disparities. 4. For maximizing the utilization of available resources of these
(A) Only 1 and 2
(B) Only 1, 2 and 3
(C) Only 2, 3 and 4
(D) 1, 2, 3 and 4
Option d – 1, 2, 3 and 4
National Planning Committee was set up by
(A) Jawahar Lal Nehru
(B) A. Dalal
(C) S. Bose
(D) L.B. Shastri
Option c – S. Bose
(A) Union Council of Ministers
(B) Planning Commission
(C) Prime Minister
(D) National Development Council (NDC)
Option d – National Development Council (NDC)
The life expectancy at birth is very high in this country:
1. Singapore
2. Sri Lanka
3. the Republic of Korea
4. Malaysia
Option 1 – Singapore
According to Human Development Report 1996, the Infant mortality rate in Indias was :
1. 89
2. 43
3. 58
4. 74
Option 4 – 74
CAD stands for
1. Command Area Development
2. Community Area Development
3. Communal Area Development
4. Common Authority Development
Option 1 – Command Area Development
The rural works program is intended
1. To generate employment opportunities in rural areas
2. To control the population in rural areas
3. To check the growth rate of inflation
4. None of these
Option 1 – To generate employment opportunities in rural areas
Inflation caused by increased investment expenditure is known as
1. Demand-pull Inflation
2. Cost-push Inflation
3. Structural Inflation
4. None of these
Option 1 – Demand-pull Inflation
Structural Inflation is mostly noticed in :
1. China
2. U.K
3. France
4. Latin America
Option 4 – Latin America
Human Development Index consists of
1. Life expectancy
2. Literacy rate
3. Education
4. All of these
Option 4 – All of these
When a person is ready to work for the existing wages but does not find a job, it is called:
1. Involuntary unemployment
2. Voluntary unemployment
3. Under employment
4. Disguised unemployment
Option 1 – Involuntary unemployment
Which of the following is regarded as underemployment:
1. A person not willing to work at all
2. A person receiving fewer wages when compared to his skills or education
3. A person getting more wages than the expected ones
4. A person getting enough wages for his technical skills
Option 2 – A person receiving fewer wages when compared to his skills or education
Swarna Jayanthi Gram Samridhi Yojana is intended:
1. To eradicate poverty within the country
2. To promote employment opportunities in rural areas
3. To check the growth rate of inflation
4. To control the population growth
Option 1 – To eradicate poverty within the country
When inflation increases ( BPSC economics optional question paper )
1. The exchange value of money decreases
2. The supply of goods also increases
3. The production of consumer goods decreases
4. The exchange value of the rupee increases
Option 1 – The exchange value of money decreases
The Economist first distinguished between Involuntary and voluntary unemployment
1. 4.R. Gadgil
2. Dadabhai Naoroji
3. J.M. Keynes
4. Mathur
Option 3 – J.M. Keynes
This service is not considered an Index of Human Development
1. Health
2. Irrigation
3. Education
4. Fisheries
Option 4 – Fisheries
According to the World Development Report of 1997, the following country falls in the category of low-income group
1. India
2. the USA
3. France
4. Iran
Option 1 – India
Most employment generation programs are meant for
1. Rural areas
2. Urban areas
3. hill regions
4. Underdeveloped regions
Option 1 – Rural areas
The disguised unemployment is seen in ( BPSC economics optional question paper )
1. Industries
2. Agriculture
3. Trade and Commerce
4. Electricity
Option 2 – Agriculture
Structural inflation is mostly noticed in
1. Latin America
2. India
3. China
4. Pakistan
Option 1 – Latin America
The country with the highest adult literacy
1. India
2. China
3. Pakistan
4. Korea
Option 4 – Korea
In 1995 India’s per-capita income in dollars was
1. 200
2. 340
3. 460
4. 620
Option 2 – 340
As per the 1993 Human Development Report, life expectancy in India was nearly
1. 68.8 years
2. 69.2 years
3. 64.8 years
4. 60.8 years
Option 4 – 60.8 years
The literacy rate in India as per the 1991 Census was ( BPSC economics optional question paper )
1. 52.2
2. 53.2
3. 54.3
4. 53.6
Option 1 – 52.2
Under which employment, marginal productivity is zero.
1. Disguised unemployment
2. Involuntary unemployment
3. Voluntary unemployment
4. Under employment
Option 1 – Disguised unemployment
If Agriculture is considered the indicator of growth, the state that ranks first is
1. Andhra Pradesh
2. Maharashtra
3. Punjab
4. Tamil Nadu
Option 3 – Punjab
Regional Development plans for Rayalaseema and Telangana were adopted in the year
1. 1966
2. 1970
3. 1985
4. 1990
Option 2 – 1970
The literacy rate in India as per the 2001 Census was
1. 65.38%
2. 61.11%
3. 52.51%
4. 18.3%
Option 1 – 65.38%
The health for all strategies changed as ( BPSC economics optional question paper )
1. Health
2. Health for the underprivileged
3. Health centers
4. Health for landlords
Option 2 – Health for the underprivileged
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