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UPSC CSE Prelims Exam 2022 MCQs Set 25 – Free PDF Download

 

Q) The average income of a country is the total income of the country divided by its total: _________.

(a) State

(b) City

(c) Population

(d) Profit

Ans. (c)

Explanation:

1) The average income which is the total income of the country divided by its total population.

2) Per capita income or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area’s total income by its total population.

Q) The average income is also called ____________.

(a) Average salary

(b) Per Capita Income

(c) Income Status

(d) None of the above

Ans. (b) Per Capita Income

Explanation:

1) Average income is also called Per capita income.

2) Per capita income or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area’s total income by its total population.

Q) Countries with per capita income of Rs 4,53,000 per annum and above, are called ________ countries.

(a) Rich

(b) Poor

(c) Low Income

(d) Median Income

Ans. (a) Rich

Explanation:

1) Countries with per capita income of Rs 4,53,000 per annum and above are called rich countries.

Q) Countries with per capita income of Rs 37,000 or less are called __________ countries.

(a) Rich

(b) Poor

(c) Low-income

(d) Median-income

Ans. (c) Low-income

Explanation:

1) Those with per capita income of Rs 37,000 or less are called low-income countries.

Q) _____________ indicates the number of children that die before the age of one year as a proportion of 1000 live child born in that particular year.

(a) Birth Rate

(b) Growth Rate

(c) Infant Mortality Rate

(d) None of these

Ans. (c) Infant Mortality Rate

Explanation:

1) The infant mortality rate (IMR) is the number of deaths of infants under one year old per 1,000 live births. This rate is often used as an indicator of the level of health in a country.

Q) Development of a country can generally be determined by:

(a) Its per capita income

(b) Its average literacy level

(c) Health status of its people

(d) All of the above

Ans. (d) All of the above

Explanation:

1) Development of a country can generally be determined by its per capita income, its average literacy level, health status of its people.

2) All of the above factors are required for determining the development of a country.

Q) ____________ is an organization under the Ministry of Statistics.

(a) National Statistics Organization

(b) National Sample Survey Organization

(c) National Trade Organization

(d) National (b) National Sample Survey Organization

Ans. (b) National Sample Survey Organization

Explanation:

1) National Sample Survey Organization (NSSO) headed by a Director General is responsible for conduct of large scale sample surveys in diverse fields on All India basis.

2) Primarily data are collected through nation-wide household surveys on various socio-economic subjects, Annual Survey of Industries (ASI), etc.

Q) When we produce a good by exploiting natural resources, it is an activity of the ___________ sector of the economy.

(a) Primary sector

(b) Secondary sector

(c) Tertiary sector

(d) Information Technology sector

Ans.  (a) Primary Sector

Explanation:

  1. When we produce a good by exploiting natural resources, it is an activity of the Primary sector of the economy.

Q) The ____________ sector covers activities in which natural products are changed into other forms throughways of manufacturing.

(a) Primary

(b) Secondary

(c) Tertiary

(d) Information Technology

Ans. (b) Secondary

Explanation:

  1. The secondary sector includes industries that produce a finished, usable product or are involved in construction.

Q) Which of the following institutions are related to the management/ maintenance/regulation of Indians foreign exchange reserve?

  1. World Bank
  2. International Monetary Fund
  3. Reserve Bank of India

(a) 1 and 2

(b) 2 and 3

(c) 1 and 3

(d) All of the above

Ans.  (b)

  • IMF issues SDRs and its operations also affect the value of SDR. Besides, the members can exchange their SDRs only with the IMF. RBI manages the for ex i.e. SDRs, gold reserves and foreign currency.

Q) The economic term „Depreciation‟ can be used in which of the following contexts?

  1. Depreciation of currency
  2. Capital consumption
  3. Trade balance

(a) 1 and 2

(b) 2 and 3

(c) 1 and 3

(d) All of the above

Ans. (a)

Q) Underemployment occurs when people:

(a) Do not want to work

(b) Are working in a lazy manner

(c) Are working less than what they are capable of doing

(d) Are not paid for their work

Ans. (c) Are working less than what they are capable of doing.

Explanation:

  1. Underemployment occurs when people are working less than what they are capable of doing.
  2. Underemployment, or disguised unemployment, refers to a job that is insufficient in some important way for a worker, relative to a standard, which results in the under-utilization of the worker.

Q) ___________ is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) or income.

(a) New Economic Product

(b) Gross Domestic Product

(c) National  Domestic  Product

(d) Gross Economic Product

Ans.  (b) Gross Domestic Product

Explanation:

  1. Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons.

Q) The ____________sector is characterized by small and scattered units which are largely outside the control of the government

(a) Organized

(b) Unorganized

(c) Information Technology

(d) None of these

Ans. (b) Unorganized

Explanation:

  1. The unorganized sector refers to those enterprises whose activities or collection of data is not regulated under any legal provision or do not maintain any regular accounts.

Q) Which of the following regarding WTO is/are true?

  1. Supports Regional Trade Agreements
  2. The decisions of Dispute settlement body are legally binding
  3. NAMA11 is a group of developing countries fighting against developed countries

(a) 1 and 2

(b) 1 and 3

(c) 2 and 3

(d) All the above

Ans. (b) 1 and 3

Q) Credit rating agencies across the world, including India measure the credit rating of which of the following?

  1. Individuals
  2. Banks
  3. Companies other than banks
  4. Nations

(a) 1, 2 and 3

(b) 2, 3 and 4

(c) 1, 3 and 4

(d) All of the above

Ans. (d)

Q) The activities in primary, secondary and tertiary sectors are ____________.

(a) Independent

(b) Interdependent

(c) Dependent

(d) None of these

Ans. (b) Interdependent

Explanation:

1) The activities in primary, secondary and tertiary sectors are Interdependent.

Q) In economics, NEP stands for:

(a) New Economic Policy

(b) National Economic Policy

(c) New Economic Program

(d) National Economic Program

Ans. (a) New Economic Policy

Explanation:

1) NEP stands for New Economic Policy.

Q) Which of the following is/are objectives of World Bank?

  1. To provide guarantee on private loans
  2. To develop production facilities in underdeveloped countries.
  3. To rehabilitate war ruined economies

(a) Only 1 and 2

(b) Only 2 and 3

(c) Only 1 and 3

(d) 1, 2 and 3

Ans. (d) 1, 2 and 3

Explanation:

1) World Bank provides long term capital to member countries for economic reconstruction and development.

 

 

 

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