Basic Economics mcq

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What type of economy is followed in India?

• Communist
• Capitalist
• Mixed
• Socialist

What does HYVP stand for?

• High Yeilding Varieties Products
• High Yeilding Various Programme
• High Yeilding Varieties Programme
• High Yeilding Various Products

What is the year of India’s 12th 5-year plan?

• 1997 – 2002
• 2002 – 2007
• 2007 – 2012
• 2012 – 2017

5 states account for 70% of India’s poor which of the following are not one of them,

• Bihar
• Andhra Pradesh
• Uttar Pradesh
• Kerala

Valmiki Ambedkar Awas Yojana was launched in the year,

• 2001
• 1999
• 2005
• 2011

The period of the business cycle in which real GDP is increasing is called the:

   

       a.  expansion    b.  peak    c.  recession     d.  trough     e.  stagflation

Assume that, in the population, 95 million people worked for pay last week, 5 million people did not work for pay but had been seeking a job, 5 million people did not work for pay and had not been seeking a job for the past several months, and 45 million were under age 16.  The unemployment rate, given these numbers, is:

       a.  5%     b.  8%     c.  10%     d.  20%     e.  45%

A type of unemployment in which workers are in-between jobs or are searching for new and better jobs is called _______ unemployment:

       a.  frictional      b.  cyclical       c.  structural      d.  turnover