DAY – 32 & 33: Insights Self Study Guide for Prelims + Mains – 2015
09 & 11 July 2015
Following Questions are Based on this TIMETABLE
Descriptive Questions
CLICK on the Questions to Post Your Answers.
NCERT Class XI, Indian Economic Development, Chapter – 3
2) Critically evaluate the performance of poverty alleviation programmes in India. (200 Words)
NCERT Class XI, Introduction to Indian Art, Chapter – 4
NCERT Class XI, Introduction to Indian Art, Chapter – 4
NCERT Class XI, Introduction to Indian Art, Chapter – 5
NCERT Class XI, Introduction to Indian Art, Chapter – 6
NCERT Class XI, Introduction to Indian Art, Chapter – 7
Multiple Choice Questions Quiz
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Welcome to the New initiative. The following questions are based on the topics we have given in this Timetable. For more challenging question papers (Full Length), please join our Preliminary Exam – 2015 Test Series (Please Click Here for Reviews)
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Question 1 of 21
1. Question
Consider the following statements:
- Tariffs decrease the price of the good in the domestic market
- Quotas harm consumers while benefiting foreign and domestic goods producers
Which of the above statements is/are correct?
Correct
Solution: b)
Tariffs are taxes imposed on imported goods; they will increase the price of the good in the domestic market. Domestic producers benefit because they receive higher prices. The government benefits by collecting tax revenues
NCERT Class XI, Indian Economic Development, Chapter – 2
http://www.investopedia.com/exam-guide/cfa-level-1/global-economic-analysis/tariffs-quotas.asp
Incorrect
Solution: b)
Tariffs are taxes imposed on imported goods; they will increase the price of the good in the domestic market. Domestic producers benefit because they receive higher prices. The government benefits by collecting tax revenues
NCERT Class XI, Indian Economic Development, Chapter – 2
http://www.investopedia.com/exam-guide/cfa-level-1/global-economic-analysis/tariffs-quotas.asp
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Question 2 of 21
2. Question
Which of the following can be termed as an important failure of India’s economic policies followed during 1950-1990?
Correct
Solution: c)
NCERT Class XI, Indian Economic Development, Chapter – 2
In India, between 1950 and 1990, the proportion of GDP contributed by agriculture declined significantly but not the population depending on it (67.5 per cent in 1950 to 64.9 per cent by 1990). Why was such a large proportion of the population engaged in agriculture although agricultural output could have grown with much less people working in the sector? The answer is that the industrial sector and the service sector did not absorb the people working in the agricultural sector. Many economists call this an important failure of our policies followed during 1950-1990. (NCERT)
Incorrect
Solution: c)
NCERT Class XI, Indian Economic Development, Chapter – 2
In India, between 1950 and 1990, the proportion of GDP contributed by agriculture declined significantly but not the population depending on it (67.5 per cent in 1950 to 64.9 per cent by 1990). Why was such a large proportion of the population engaged in agriculture although agricultural output could have grown with much less people working in the sector? The answer is that the industrial sector and the service sector did not absorb the people working in the agricultural sector. Many economists call this an important failure of our policies followed during 1950-1990. (NCERT)
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Question 3 of 21
3. Question
Post – Independence, the government of India had to play an extensive role in promoting the industrial sector. This was primarily due to which of the following reasons?
- Lack of will on the part of industrialists
- Lack of capital in private sector
- Lack of big market for goods
Which of the above statements is/are correct?
Correct
Solutions: b)
NCERT Class XI, Indian Economic Development, Chapter – 2
Incorrect
Solutions: b)
NCERT Class XI, Indian Economic Development, Chapter – 2
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Question 4 of 21
4. Question
Consider the following statements:
- The Industrial Policy Resolution of 1956 formed the basis of the Second Five Year Plan
- The Second Five Year plan tried to build the basis for a capitalist pattern of society
Which of the above statements is/are correct?
Correct
Solution: a)
NCERT Class XI, Indian Economic Development, Chapter – 2
Please read this important article:
Incorrect
Solution: a)
NCERT Class XI, Indian Economic Development, Chapter – 2
Please read this important article:
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Question 5 of 21
5. Question
The Karve Committee, which was appointed by the Planning Commission in June, 1955, recommended
Correct
Solution: a)
NCERT Class XI, Indian Economic Development, Chapter – 2
http://planningcommission.nic.in/plans/planrel/fiveyr/2nd/2planch20.html
Incorrect
Solution: a)
NCERT Class XI, Indian Economic Development, Chapter – 2
http://planningcommission.nic.in/plans/planrel/fiveyr/2nd/2planch20.html
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Question 6 of 21
6. Question
Import substitution, which was resorted to during India’s first seven five Year Plans, mainly involved
Correct
Solution: b)
NCERT Class XI, Indian Economic Development, Chapter – 2
Incorrect
Solution: b)
NCERT Class XI, Indian Economic Development, Chapter – 2
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Question 7 of 21
7. Question
It is said that in India one had to wait for long duration to get a telephone connection before 1990s. Which of the following factors is/are responsible for this?
- State monopoly
- Lack of competition
- Increased demand
Choose the correct answer using the codes below:
Correct
Solution: d)
NCERT Class XI, Indian Economic Development, Chapter – 3
Incorrect
Solution: d)
NCERT Class XI, Indian Economic Development, Chapter – 3
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Question 8 of 21
8. Question
Which of the following factors pushed India to approach World Bank and IMF to seek loan to rescue its economy in early 1990s?
- Fall in price of essential goods
- Huge imports
- Huge government expenditure
- Huge decline in foreign exchange reserves
Choose the correct answer using codes below:
Correct
Solution: c)
NCERT Class XI, Indian Economic Development, Chapter – 2
In the late 1980s, government expenditure began to exceed its revenue by such large margins that it became unsustainable. Prices of many essential goods rose sharply. Imports grew at a very high rate without matching growth of exports. As pointed out earlier, foreign exchange reserves declined to a level that was not adequate to finance imports for more than two weeks. There was also not sufficient foreign exchange to pay the interest that needs to be paid to international lenders. India approached the International Bank for Reconstruction and Development (IBRD), popularly known as World Bank and the International Monetary Fund (IMF), and received $7 billion as loan to manage the crisis.
Incorrect
Solution: c)
NCERT Class XI, Indian Economic Development, Chapter – 2
In the late 1980s, government expenditure began to exceed its revenue by such large margins that it became unsustainable. Prices of many essential goods rose sharply. Imports grew at a very high rate without matching growth of exports. As pointed out earlier, foreign exchange reserves declined to a level that was not adequate to finance imports for more than two weeks. There was also not sufficient foreign exchange to pay the interest that needs to be paid to international lenders. India approached the International Bank for Reconstruction and Development (IBRD), popularly known as World Bank and the International Monetary Fund (IMF), and received $7 billion as loan to manage the crisis.
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Question 9 of 21
9. Question
The New Economic Policy (NEP) of early 1990s consisted of policies that can broadly be classified into two groups: the stabilisation measures and the structural reform measures. Which of the following is not a ‘structural reform measure’?
Correct
Solution: a)
NCERT Class XI, Indian Economic Development, Chapter – 3
Incorrect
Solution: a)
NCERT Class XI, Indian Economic Development, Chapter – 3
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Question 10 of 21
10. Question
Which of the following Public Sector Undertaking is/are NOT a Maharatna company?
- Bharat Electronics Limited
- Bharat Petroleum Corporation Limited
- Hindustan Aeronautics Limited
- Hindustan Petroleum Corporation Limited
- Mahanagar Telephone Nigam Limited
Choose the correct answer using the codes below:
Correct
Solution: d)
NCERT Class XI, Indian Economic Development, Chapter – 3
Maharatna CPSEs
- Bharat Heavy Electricals Limited
- Coal India Limited
- GAIL (India) Limited
- Indian Oil Corporation Limited
- NTPC Limited
- Oil & Natural Gas Corporation Limited
- Steel Authority of India Limited
http://dpe.nic.in/publications/list_of_maharatna_navratna-and_miniratna
Incorrect
Solution: d)
NCERT Class XI, Indian Economic Development, Chapter – 3
Maharatna CPSEs
- Bharat Heavy Electricals Limited
- Coal India Limited
- GAIL (India) Limited
- Indian Oil Corporation Limited
- NTPC Limited
- Oil & Natural Gas Corporation Limited
- Steel Authority of India Limited
http://dpe.nic.in/publications/list_of_maharatna_navratna-and_miniratna
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Question 11 of 21
11. Question
Which of the following organization was set-up as a successor to the General Agreement on Tariffs and Trade (GATT)?
Correct
Solution: b)
NCERT Class XI, Indian Economic Development, Chapter – 3
Difference between WTC and WTO:
http://www.wtcdenver.org/about/wtc-vs-wto
Incorrect
Solution: b)
NCERT Class XI, Indian Economic Development, Chapter – 3
Difference between WTC and WTO:
http://www.wtcdenver.org/about/wtc-vs-wto
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Question 12 of 21
12. Question
Consider the following statements:
- A reduction in capital expenditure, or the decision of a company not to replenish depleted capital goods can be called as disinvestment
- Divestment is the reduction of some kind of asset for financial, ethical, or political objectives or sale of an existing business by a firm
Which of the above statements is/are correct?
Correct
Solution: c)
NCERT Class XI, Indian Economic Development, Chapter – 3
http://www.investopedia.com/terms/d/disinvestment.asp
Incorrect
Solution: c)
NCERT Class XI, Indian Economic Development, Chapter – 3
http://www.investopedia.com/terms/d/disinvestment.asp
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Question 13 of 21
13. Question
With reference to poverty line estimations made by a most recent committee, consider the following statements:
- Those spending over Rs 32 a day in rural areas and Rs 47 in towns and cities are not considered poor
- The Rangarajan panel’s recommendation of poverty line results in decrease in the below poverty line population compared to population estimate based on the Tendulkar formula
Which of the above statements is/are correct?
Correct
Solution: a)
NCERT Class XI, Indian Economic Development, Chapter – 4
http://www.thehindu.com/opinion/lead/understanding-the-poverty-line/article4989045.ece
Incorrect
Solution: a)
NCERT Class XI, Indian Economic Development, Chapter – 4
http://www.thehindu.com/opinion/lead/understanding-the-poverty-line/article4989045.ece
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Question 14 of 21
14. Question
During the British rule as many as 26 million people died in famines between 1875 and 1900. Which of the following is one of the causes of these deaths?
Correct
Solution: a)
As over 70 per cent of Indians were engaged in agriculture throughout the British Raj period, the impact on that sector was more important on living standards than anything else. British policies involved sharply raising rural taxes that enabled merchants and moneylenders to become large landowners. Under the British, India began to export food grains and, as a result, as many as 26 million people died in famines between 1875 and 1900.
Incorrect
Solution: a)
As over 70 per cent of Indians were engaged in agriculture throughout the British Raj period, the impact on that sector was more important on living standards than anything else. British policies involved sharply raising rural taxes that enabled merchants and moneylenders to become large landowners. Under the British, India began to export food grains and, as a result, as many as 26 million people died in famines between 1875 and 1900.
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Question 15 of 21
15. Question
Vaccination is an example of
Correct
Solution: a)
NCERT Class XI, Indian Economic Development, Chapter – 5
Incorrect
Solution: a)
NCERT Class XI, Indian Economic Development, Chapter – 5
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Question 16 of 21
16. Question
With reference to National Bank for Agriculture and Rural Development (NBARD), consider the following statements:
- RBI holds 20% stake in the NABARD
- NABARD is a cooperative bank
- It was established by RBI
Which of the above statements is/are INCORRECT?
Correct
Solution: b)
NCERT Class XI, Indian Economic Development, Chapter – 6
https://en.wikipedia.org/wiki/National_Bank_for_Agriculture_and_Rural_Development
Incorrect
Solution: b)
NCERT Class XI, Indian Economic Development, Chapter – 6
https://en.wikipedia.org/wiki/National_Bank_for_Agriculture_and_Rural_Development
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Question 17 of 21
17. Question
Which of the following is/a component of organic farming?
- Crop Rotation
- Biofertilizers
- Vermicompost
- Crop Residue
- Bio pesticide
Choose the correct answer using the codes below:
Correct
Solution: d)
NCERT Class XI, Indian Economic Development, Chapter – 6
Incorrect
Solution: d)
NCERT Class XI, Indian Economic Development, Chapter – 6
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Question 18 of 21
18. Question
Electricity, Gas, Water Supply and Construction sectors are examples of
Correct
Solution: b)
NCERT Class XI, Indian Economic Development, Chapter – 7
Incorrect
Solution: b)
NCERT Class XI, Indian Economic Development, Chapter – 7
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Question 19 of 21
19. Question
Consider the following statements:
- During the period 1960–2000, Gross Domestic Product (GDP) of India grew positively and was higher than the employment growth
- During the period 1960–2000 employment grew at a stable rate of about 2 per cent
Which of the above statements is/are correct?
Correct
Solution: c)
NCERT Class XI, Indian Economic Development, Chapter – 7
Incorrect
Solution: c)
NCERT Class XI, Indian Economic Development, Chapter – 7
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Question 20 of 21
20. Question
Casualization of workforce means
Correct
Solution: d)
NCERT Class XI, Indian Economic Development, Chapter – 7
Incorrect
Solution: d)
NCERT Class XI, Indian Economic Development, Chapter – 7
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Question 21 of 21
21. Question
Consider the following statements:
- Decrease in sex ratio indicates increase in female feticide
- Among major states, Haryana has both lowest adult and child sex ratio in India
Which of the above statements is/are correct?
Correct
Solution: c)
NCERT Class XI, Indian Economic Development, Chapter – 8
Incorrect
Solution: c)
NCERT Class XI, Indian Economic Development, Chapter – 8
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