Economic Concepts and National Income

With reference to the sectors of the Indian economy, consider the following pairs: Economic activity — Sector 1. Storage of agricultural produce — Secondary 2. Dairy farm — Primary 3. Mineral exploration — Tertiary 4. Weaving cloth — Secondary How many of the pairs given above are correctly matched?

With reference to physical capital in Indian economy, consider the following pairs: Items — Category 1. Farmer’s plough — Working capital 2. Computer — Fixed capital 3. Yarn used by the weaver — Fixed capital 4. Petrol — Working capital How many of the above pairs are correctly matched?

Consider the investments in the following assets: 1. Brand recognition 2. Inventory 3. Intellectual property 4. Mailing list of clients How many of the above are considered intangible investments?

Which of the following activities constitute real sector in the economy? 1. Farmers harvesting their crops 2. Textile mills converting raw cotton into fabrics 3. A commercial bank lending money to a trading company 4. A corporate body issuing Rupee Denominated Bonds overseas Select the correct answer using the code given below:

Consider the following statements: Other things remaining unchanged, market demand for a good might increase if 1. price of its substitute increases 2. price of its complement increases 3. the good is an inferior good and income of the consumers increases 4. its price falls Which of the above statements are correct?

Consider the following statements: 1. Purchasing Power Parity (PPP) exchange rates are calculated by comparing the prices of the same basket of goods and services in different countries. 2. In terms of PPP dollars, India is the sixth largest economy in the world. Which of the statements given above is/are correct?

If a commodity is provided free to the public by the Government, then

Despite being a high saving economy, capital formation may not result in significant increase in output due to

With reference to Indian economy, consider the following statements : 1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade. 2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade. Which of the statements given above is/are correct?

The national income of a country for a given period is equal to the

“A closed economy” is an economy in which

In the context of Indian economy, consider the following statements: 1. The growth rate of GDP has steadily increased in the last five years. 2. The growth rate in per capita income has steadily increased in the last five years. Which of the statements given above is/are correct?

Economic growth is usually coupled with