Practice Test


1) Generally an economy is considered under developed if


2) Which of the following statements are correct ?


3) Which of the following statements are correct ?


4) ___________is the apex bank for agriculture credit in India


5) The share of agriculture in India's national income has ____over the years.


6) The Green revolution is also known as


7) The area under irrigation has_______over the years in India


8) Which of the following statements are correct ?


9) Which of the following statements is in correct ?


10) Abolition of intermediaries & tenancy reforms are both parts of


11) Agricultural sector faces the problem of


12) In absolute terms,the number of people engaged in agriculture activities over the planning period has


13) We can say Indian agriculture has become modern since


14) Which of the following has been specifically established to meet the requirements of the credit of the farmer & villagers


15) Which of the following statements are incorrect ?


16) Which of the following statements are correct ?


17) Mahalanobis model stressed upon the establishment of


18) Three steel plants in Bhilai,Rourkela & durgapur were set up in the


19) The industrial sector faced the process of retrogression & declaration during


20) Which of the following has resulted into failure to achieve targets of industrial production ?


21) Which of the following statements are correct ?


22) About ____ per cent of the sick unit in India are small units


23) The tenth plan aimed at achieving a growth rate of __ ____per cent in the industrial


24) Nearly _________ percent of working population is engaged in the service sector


25) Service sector accounted for nearly _________ percent of exports (2004-05).


26) India has the ___percent largest scientific & technical manpower in the world


27) The service sector in India now account for


28) All of the following can cause sickness to an industrial unit except


29) Which of the following statements are correct ?


30) Oil & Natural Gas Corporation Indian Oil Corporation , steel Authority of India ,& Bharat Heavy Electrical are examples of


31) The Indian Industry faced the problem of retrogression & deceleration because of


32) Which of the following statements are correct ?


33) Over the planning period the share of industrial sector in the GDP of India has


34) The industrial sector depends on the agriculture sector because


35) A sick industrial unit is one


36) BPO stands for


37) Small scale units exit in India because


38) Which of the following statements are incorrect ?


39) National income differs from Net National product at market price by the amount of


40) Net National Product at factor cost is


41) Transfer payments refers to payments which are made


42) The net values added method of measuring national income is also known as


43) Identify the items which is not a factor payment


44) Mixed income of the self employed means


45) Demand for final consumption arises in


46) Demand for intermediate consumption arises in


47) Which of the following is an economic activity ?


48) Net value Added is equal to


49) Per Capita National Income means


50) Which of the following statements are correct ?


51) One of the following is not a merit of direct taxes. Find it


52) Find the tax which is direct tax among the following


53) Among the following types of taxes , find the one which is indirect


54) Which of the following statements are correct ?


55) Which of the following statements are correct ?


56) India has rising national & per capita income, improved changes in occupational structure .it makes India a


57) The share of agriculture in India's GNP is


58) Agriculture provides employment to what percentage of population


59) Agriculture sector contributes in export earning is


60) Agricultural productivity refers to


61) Agricultural productivity improved in case of


62) Reorganisation of agriculture means


63) Main cause of slow progress of land reforms is


64) Full form of NABARD is


65) A small scale industrial unit is one which has investments upto


66) A tiny unit is one which has investments upto


67) Service sector is also called


68) At present share of tertiary sector in GDP is around______%


69) What is India's rank in the list of exporters of service ?


70) CSO stands for


71) To go from 'net' to 'gross' we


72) Generally GDPmp is always at


73) NDP market price - Indirect Taxes + Subsidies =


74) Disposable Income = gross addition of saving &


75) Inter Linked phases of product method is also known as


76) Gross domestic capital formation includes


77) At present the base year is


78) GNP is a poor measure of welfare because it does not show


79) Sources of public revenues are


80) When the burden of the tax is falling on the person on whom the tax is imposed, it is called


81) Excise duty is a


82) Wealth tax is


83) Custom Duty is


84) MODVAT is


85) MODVAT was introduced in the Union Budget of


86) CENVAT was introduced in the Union Budget of


87) In CENVAT , one basic excise duty of what percentage is applicable to all the goods


88) VAT was introduced in the year


89) Non-Tax revenue includes


90) Income Tax in India was introduced in the year


91) The ratio of direct tax to indirect tax in 2005-06 is


92) Adam Smith gave the following cannos of a goods tax system


93) In India ,tax evasion is high at ______%


94) If a firm produces goods with Rs.10,000 & the cost of raw material is Rs.6,000 then the firm will pay tax on Rs.4,000 .it is paying tax according to


95) If the final goods attract an excise duty of Rs.8,000 & Rs.1,050 has already been paid on inputs then the firm will pay the 7,000 towards excise duty ,it is paying tax according to