Nature of Indian Economy Group Objective Questions Answers, Group 1 2 2a 4, VAO Group Question

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Nature of Indian Economy

13.

Which of the following is a non-economic determinant of economic growth ?

A. Capital formation B. entrepreneurial ability C. technological advance D. social institutions

Answer : D. social institutions

14.

Octroi refers to

A. Tax B. Agriculture C. Industry D. none of these

Answer : A. Tax

15.

In a developing economy, ___________ plays a role

A. no taxation B. regressive taxation C. progressive taxation D. proportional taxation

Answer : C. progressive taxation

16.

What are the hurdles in the growth of Indian Economy?

A. Laziness B. Lack of technical Knowledge C. Population, inadequate oversease trade D. Lack of experience

Answer : C. Population, inadequate oversease trade

17.

One of the basic characteristics of an under-developed economy is

A. 70% to 90% of the population is engaged in agriculture B. High rate of investment C. Low Population D. None of these

Answer : A. 70% to 90 % of the population is engaged in agriculture

18.

The modern State is

A. Laissez-faire state B. Aristocratic state C. Welfare State D. Industrial state

Answer : C. Welfare State

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