CSS :: Economic Growth and Development
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1. |
Which of the following is generally regarded as the true index of economic growth? |
A. |
An increase in national income at constant prices during a year |
B. |
A sustained increase in real per capita income |
C. |
An increase in national income at current prices over time |
D. |
An increase in national income along with a corresponding incease in population |
Answer: Option B
Explanation:
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2. |
The concept of economic growth is: |
A. |
Identical with the concept of economic development |
B. |
Narrower than the concept of economic development |
C. |
Wider as compared to that of economic development |
D. |
Unrelated to the concept of economic development |
Answer: Option B
Explanation:
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3. |
Which of the following is not an indicator of economically underdeveloped countries? |
A. |
Low per capita income |
B. |
High death-rate |
C. |
Low proportion of labour force in the primary sector |
D. |
High level of illiteracy |
Answer: Option C
Explanation:
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4. |
The rate of growth of an economy mainly depends upon: |
A. |
The rate of growth of the labour force |
B. |
The proportion of national income saved and invested |
C. |
The rate of technological improvements |
D. |
All of the above |
Answer: Option D
Explanation:
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5. |
Among the following determinants of growth, which is a non-economic factor? |
A. |
Natural resources |
B. |
Population growth |
C. |
Favourable legislation |
D. |
Capital accumulation |
Answer: Option C
Explanation:
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6. |
Besides increase in output, economic development is concerned with: |
A. |
Inputs and their efficiency |
B. |
Equitable distribution of income |
C. |
Life sustenance, self-esteem and freedom from want, ignorance and squalor |
D. |
All of the above |
Answer: Option D
Explanation:
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7. |
The stationary state as envisaged by Adam Smith, is marked by: |
A. |
Low rate of profit |
B. |
Subsistence level wages |
C. |
High rents |
D. |
All of the above |
Answer: Option D
Explanation:
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8. |
Which of the following is inconsistent with Adam Smith's theory of development? |
A. |
Development process is cumulative in nature |
B. |
There is no limit to the growth process |
C. |
Capital accumulation and market extension are two prerequisites for output expansion |
D. |
There should be no government interference in the working of the economy |
Answer: Option B
Explanation:
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9. |
The division of labour, according to Adam Smith, is limited by: |
A. |
The extent of the market |
B. |
The quantity of capital available |
C. |
Both (a) and (b) |
D. |
The size of labour force |
Answer: Option C
Explanation:
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10. |
Among the various determinants of the growth of national wealth Adam Smith accorded central place to: |
A. |
Division of labour |
B. |
Capital |
C. |
Natural resources |
D. |
Technology |
Answer: Option A
Explanation:
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