Economics: CUET Mock Test - 5
40 Questions MCQ Test CUET Mock Test Series | Economics: CUET Mock Test - 5
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Foreign travellers defined the finest quality of muslin, a type of cotton textile with its origin in Bengal as ______(Fill up the blank with correct alternative)
Foreign travellers defined the finest quality of muslin as Malmal Shahi or Malmal Khas implying that it was worn by, or fit for, the royalty
Life Expectancy during the British India was ______ (Fill up the blank with correct answer)
Life expectan cy during the British rule was as low as 44 years with the present of 69.42 years.(source: World Bank)
British enabled India to be an importer of raw materials and an exporter of finished goods. (Choose the correct alternative)
British enabled India to be an exporter of primary products and an importer of finished goods.
Whose estimates are considered as more reliable with regard to estimation of national income and per capita income during the colonial period?
ttempts were made by all of the above personalities, however Rao’s estimates were considered as most significant.
The main objective of the zamindars during the land settlement system was to
Zamindars did nothing to improve the condition of agriculture and focused on the collection of rent which caused immense misery and social tension for the cultivators.
Indian economy on the eve of independence is characterised as
India was characterised as a stagnant economy due to its low growth rate of GDP and GDP per capita; a backward economy as evident through its poor performance of demographic indicators and a colonial economy as British exerted their political and economic will over India.
Indian farmers voluntarily agreed to switch from subsistence farming towards commercialisation of agriculture. The given statement is
Indian farmers were forced to shift to commercial crops (Indigo, in particular) from the traditional food crops (like wheat and rice).
The main reason for stagnation of Indian agriculture during the British rule was
Under land settlement system, zamindars and colonial government did nothing to improve the productivity of land and were focused towards collection of land revenues.
The chief casual factor responsible for the decline of handicrafts industry in India was
Heavy export duties were imposed on the handicraft products with a meagre duty on British manufactured goods resulted in low demand for Indian handicrafts.
De-industrialisation acted as a major setback to which Indian industry?
The decline in the handicraft industries resulted in unemployment on a large scale wherein the consumer demand in the domestic market was met by the foreign produced goods.
Which of the following does not highlight the status of industrial sector during the colonial period?
British followed discriminatory tariff policy wherein import of British goods were made tariff free and heavy export duties were imposed on Indian handicrafts.
The main focus of the Industrial Policy pursued during the colonialperiod
The de-industrialisation policy followed during colonial period has two major objectives: first to reduce the status of India as an exporter of primary products and second is to turn India into the sprawling market for the finished products produced in Britain.
Which of the following industry/ies was/were covered under the public sector during the colonial period?
The role of the public sector was confined to railways, power generation, communications, ports and some other departmental undertakings.
The major characteristic of India’s foreign trade during the colonial period was
India maintained a huge export surplus but it did not resulted in inflow of gold or silver into India because the country had to make large foreign payments to England on account of administrative and war expenses.
British restricted India’s foreign trade with which of these nations?
British restricted the direction and flow of India’s trade wherein more than half of India’s foreign trade was restricted to Britain while the rest was allowed with other countries like China, Ceylon (Sri Lanka) and Persia (Iran).
The major reason(s) for the alarming mortality rate during British India include
Mortality rate was as high as 218 per thousand and often results due to lack of food availability and affordability, poor sanitation and public health facilities.
The reason for the Great Bengal Famine of 1943-44 as per Amartya Sen was
Provincial and district barriers (cordons), speculation and hoarding were the main factors responsible for the spectacular rise in prices and resulting in shortages.
Which of the following is false regarding the positive contribution by the British rule?
British monopolised the foreign trade to shift the direction of trade policy in their favour by encouraging tariff free imports and imposing heavy duties on exports.
The share of workforce engaged in industrial and service sector respectively during the colonial rule
Agriculture accounted for nearly 70-75% of the workforce, whereas the share of manufacturing and service sector was 10% and 20-25% respectively.
Assertion (A): India developed a sound industrial base during the colonial rule.
Reason (R): The industrial sector was crying for modernisation , diversification, capacity building and increased public investment.
Alternatives
The industrial sector was in dismal state with hardly any capital goods industry and lack of support from the government.
Assertion (A): The traditional handicrafts industries were mined under the British rule.
Reason (R): British objective was to turn India as a sprawling market for the finished goods produced in Britain.
Alternatives
The traditional handicraft industries were ruined due to discriminatory tariff policy pursued by the British.
________ means designing and shaping the socio-economic processes in such a way so as to achieve an objective.
It means utilisation of nation’s resources across different development activities in accordance with the national objectives.
Long-term plans are preposterous in nature and are referred to as ‘prescriptive plans.’
Long-term plans have general goals and well defined objectives to be achieved and are referred to as ‘perspective plan’.
In which of these nations, economic activities are governed by socialistic principles?
In socialism goods are produced on the basis of needs of the people and not on the basis of their ability to pay for the goods.
Planning in India started with a heavy reliance on the ______ sector .
There has been a strong reliance on the public sector before 1991 wherein the entry of the private sector was restricted and subjected to licensing system.
Which sector received top most priority in the first five year plan in India?
Frequent droughts, famines, hunger and poverty led the policy makers to aim for a strong agrarian economy.
Post-independence, India has always focused to become a self-sufficient or a self-reliant nation. This goal in the present Modi-era has been termed as
Self-reliant movement under Modi administration has been termed as ‘Atmanirbhar Bharat’ which focuses on 5 major pillars- Economy, Infrastructure, System, Demography and Demand.
What is peculiar about the structural transformation process in context of Indian economy?
The ‘structural change’ theory argues that with development, the share of agriculture sector declines and that of industry becomes dominant and at higher levels of development, the service sector contributes more than the other two sectors. However in context of India, there has been a jump directly from agriculture to services in context of GDP contribution.
Which of the following alternative(s) explain the debate regarding the provision of subsidies during 1960’s and 70’s?
It was argued that eliminating subsidies would increase the inequality between the small and large farmers, thus fertiliser subsidies which benefitted fertiliser industry and big farmers should be substituted with agricultural subsidies.
The main goal of the Industrial Policy Resolution (1956) was to ensure balanced regional development with state controlling commanding heights in an economy. The given statement is
Under IPR (1956), private sector had to obtain the license from the government for establishing industrial units and state provided concessions and tax benefits for encouraging private units in the backward regions.
Which among the following act as an external factor contributing to industrial sickness?
Excessive government control and restrictions act as a hindrance towards the smooth functioning of the firm and often results in sickness.
The main issue(s) with protectionist or trade restrictive policies is/are ________.
Protectionist policies are criticised on the ground that there is very less scope for domestic firms to become more efficient and domestic consumers have to purchase whatever has been produced domestically.
Assertion (A): Modernisation implies adoption of new technology along with a change in the social and economic outlook.
Reason (R): Over the years, there have been a reduction in the gender wage parity and in the female labour force participation rate.
Alternatives
The gender-wage gap has reduced but there has been a substantial increase in the female labour force participation rate.
Assertion (A): The major policy initiatives i.e. land reforms and green revolution helped India to become self-sufficient in food grains production.
Reason (R): The proportion of people depending on agriculture did not decline as expected.
Alternatives
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).
Direction: Read the following case study and answer the given question.
During the colonial rule, there was neither growth nor equity in the agricultural sector. The policy makers of independent India had to address these issues which they did through land reforms and promoting the use of ‘High Yielding Variety’ (HYV) seeds which ushered in a revolution in Indian agriculture.
The stagnation in agriculture during the colonial rule was permanently broken by the green revolution. This refers to the large increase in production of food grains resulting from the use of high yielding variety (HYV) seeds especially for wheat and rice. The use of these seeds required the use of fertiliser and pesticide in the correct quantities as well as regular supply of water. Also, the application of these inputs in correct proportions is vital. The spread of green revolution technology enabled India to achieve self-sufficiency in food grains and we no longer had to be at the mercy of America, or any other nation, for meeting our nation’s food requirements.
Thus, land reform measures along with green revolution promoted equity in the agricultural sector.
Q. Which among the following crops chiefly benefitted as a result of green revolution?
The use of HYV seeds and better irrigation facilities resulted in enhanced production of wheat and rice which enabled India to achieve self-sufficiency in food grain production.
Direction: Read the following case study and answer the given question.
During the colonial rule, there was neither growth nor equity in the agricultural sector. The policy makers of independent India had to address these issues which they did through land reforms and promoting the use of ‘High Yielding Variety’ (HYV) seeds which ushered in a revolution in Indian agriculture.
The stagnation in agriculture during the colonial rule was permanently broken by the green revolution. This refers to the large increase in production of food grains resulting from the use of high yielding variety (HYV) seeds especially for wheat and rice. The use of these seeds required the use of fertiliser and pesticide in the correct quantities as well as regular supply of water. Also, the application of these inputs in correct proportions is vital. The spread of green revolution technology enabled India to achieve self-sufficiency in food grains and we no longer had to be at the mercy of America, or any other nation, for meeting our nation’s food requirements.
Thus, land reform measures along with green revolution promoted equity in the agricultural sector.
Assertion (A): Green revolution helped India to achieve self-sufficiency in food grain production and permanently broke the agricultural stagnation.
Reason (R): Prices of food crops declined as a result of enormous marketed surplus which enabled the government to strengthen their Buffer stocks.
Alternatives
Use of HYV seeds, adoption of better irrigation facilities and a careful use of fertilisers and pesticides resulted in enhanced production of food crops, chiefly wheat and rice.
_______ are short-term policy measures taken to improve the BoP situation in an economy.
Quantitative restrictions refers to quotas which specify the amount of commodity which can be imported.
Stabilisation measures are long-term measures which intend to improve the efficiency of an economy and increase its international competitiveness. The given statement is
Stabilisation measures are short-term measures which intend to correct some of the weaknesses that have developed in the 46. balance of payments and to bring inflation under control.
Which of the following is incorrect with regard to the financial sector reforms taken under the purview of new economic policy, 1991?
Foreign investment limit in banks was raised to around 50 per cent under the financial sector reform measures.
_________ is a trade barrier which makes imported goods costlier and thus restricts trade.
Tariff increases the price of imported goods and thus make them costlier in comparison to domestic products. It is usually imposed to protect the domestic industries.
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