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Prelims-IAS –ECONOMICS MCQ-03

1..Consider the following statements:

1. Higher employment growth always leads to lower unemployment rate.
2. Higher GDP growth always leads to higher employment growth.
Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2


2..Among the services sector, which of the following sub-sectors has the largest share in GDP of India?

(a)  Finance, insurance, real estate, and business services
(b)  Transport,storage,and communication
(c)  Trade, hotels, and restaurants
(d)  Community, social, and personal services


3..The term National Income represents:

(a)  Gross national product at market prices minus depreciation
(b)  Gross national product at market prices minus depreciation plus net factor income from abroad
(c)  Gross national product at market prices minus depreciation and indirect taxes plus subsidies
(d)  Gross national product at market prices minus net factor income from abroad


4..The growth rate of per capita income at current prices is higher than that of per capita income at constant prices, because the latter takes into account the rate of

(a) Growth of population
(b) Increase in price level
(c) Growth of money supply
(d) Increase in the wage rate


5..Consider the following statements regarding the recent changes done in methodology to calculate GDP(gross domestic product) of India:

1. The base year has been shifted to 2010- 11.
2. Under the new series, the estimate is based on GDP at constant market cost.
Which of the following is/are correct?
(a) 1 only
(b) 2 only
(c) 1 and 2 only
(d) None of the above


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