- A. 1947
- B. 1950
- C. 1948
- D. 1951
The Planning Commission of India was established by the Government of India on 15th March 1950. Option A (1947) is the year of independence, C (1948) is when the Industrial Policy Resolution was passed, and D (1951) marks the commencement of the First Five-Year Plan.
- A. more or less equal
- B. more
- C. equal
- D. less
Favourable balance of trade exists when the value of exports exceeds the value of imports (Exports > Imports). If imports exceed exports, it is an unfavourable balance of trade (trade deficit).
- A. Creeping Inflation
- B. Walking Inflation
- C. Galloping Inflation
- D. Running Inflation
Mild inflation, where prices rise very slowly (usually less than 3% per year), is termed Creeping Inflation. Walking, Running, and Galloping inflations represent progressively higher and faster rates of price increases.
- A. Mumbai
- B. Delhi
- C. Bengaluru
- D. Chennai
The Reserve Bank of India (RBI) was established in 1935, and its central office is located in Mumbai, Maharashtra.
- A. Capital
- B. Wealth of Nations
- C. Public Finance
- D. General Theory
John Maynard Keynes published 'The General Theory of Employment, Interest and Money' in 1936, which is his most significant contribution that laid the foundation for modern Macroeconomics. 'Wealth of Nations' is by Adam Smith, and 'Capital' is by Karl Marx.
- A. Y/C
- B. C/Y
- C. C1Y
- D. C×Y
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Log in to view solution →- A. Published sources
- B. Unpublished sources
- C. Neither published nor unpublished sources
- D. Both (a) and (b)
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Log in to view solution →- A. Modern Economist
- B. Neo Classical Economist
- C. New Economist
- D. Classical Economist
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Log in to view solution →- A. Land pollution
- B. Air pollution
- C. Noise pollution
- D. Water pollution
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Log in to view solution →- A. Ricardo
- B. Adam Smith
- C. Malthus
- D. J.M. Keynes
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Log in to view solution →- A. Accepting deposits
- B. Providing loans
- C. Both (a) and (b)
- D. None of the above
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Log in to view solution →- A. $\frac{Nominal NDP}{Real NDP} \times 100$
- B. $\frac{Nominal GNP}{Real GNP} \times 100$
- C. $\frac{Nominal NNP}{Real NNP} \times 100$
- D. $\frac{Nominal GDP}{Real GDP} \times 100$
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Log in to view solution →- A. Expenditure
- B. Production
- C. GNP
- D. Population of a country
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Log in to view solution →- A. Short-run analysis
- B. Full employment
- C. Imperfect competition
- D. Under employment
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Log in to view solution →- A. Internal trade
- B. Home trade
- C. External trade
- D. None of the above
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Log in to view solution →- A. SAARC
- B. BRICS
- C. ASEAN
- D. WTO
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Log in to view solution →- A. Demand and Supply
- B. Wealth and Welfare
- C. Micro and Macro
- D. Production and Consumption
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Log in to view solution →- A. ICICI
- B. SBI
- C. RBI
- D. NABARD
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Log in to view solution →- A. Welfare state
- B. Laissez-faire state
- C. Police state
- D. Aristocratic state
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Log in to view solution →- A. Vice-president
- B. Prime Minister
- C. Finance Minister
- D. President
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