Micro & Macro Economics – WBCS Main Question Paper

Micro, Macro Economics WBCS Main Question Paper
wbcs main economics questions

WBCS Main Question Paper – 2019

177. GNP = GDP + X – M
        where M means
(A) income earned and received by nationals within the boundaries of foreign countries
(B) income received by foreign nationals from within the country.
(C) volume of commodities and services produced during the accounting year
(D) indirect taxes and subsidies.
 
178. GDP (at market price) – NIT = ?
(Ans = GDP at factor cost, NIT = Net Indirect Tax)
(A) NNP (at market price)
(B) GNP (at factor cost)
(C) NDP (at market price)
(D) NNP (at factor cost)
 
179. Who is the author of the book ‘Poverty and Un-British Rule in India’?
(A) Dadabhai Naoroji
(B) Amartya Sen
(C) Pranab Mukherjee
(D) Amit Mitra
 
183. Industrial sickness due to the managerial incompetence and wrong policies pursued deliberately for want of genuine stake is known as
(A) Genuine sickness
(B) Incipient sickness
(C) Induced sickness
(D) None of the Above
 
195. A currency with a value that fluctuates as a result of the country’s political or economic uncertainty is known as
(A) Hard Currency
(B) Soft Currency
(C) Both (A) and (B)
(D) None of the above
 
196. A condition of slow economic growth and relatively high unemployment – economic stagnation – accompanied by rising prices is known as
(A) Stagflation
(B) Hyper-inflation
(C) Demand-pull inflation
(D) Cost push inflation
 
197. Since April 2014 the Reserve Bank of India has adopted the new measure of inflation which is known as
(A) Consumer Price Index
(B) New Consumer Price Index
(C) Wholesale Price Index
(D) None of the above
 
 

WBCS Main Question Paper – 2018

20. As per 2011 Census, the Indian State with highest literacy rate is
a) Goa
b) Kerala
c) Mizoram
d) Tripura
 
21. Women to men ratio in India as per 2011 Census is
a) 920 : 1000
b) 930 : 1000
c) 940 : 1000
d) 980 : 1000
 
24. GDP at factor cost is
a) GDP minus indirect taxes plus subsides
b) GNP minus depreciation allowances
c) NNP plus depreciation allowances
d) GDP minus subsides plus indirect taxes
 
29. Who wrote a book describing the theory of economic drain of India during British rule?
a) Late Lajpat Rai
b) Mahatma Gandhi
c) Jawaharlal Nehru
d) Dadabhai Naoroji
 
27. Select the correct answer about the Indian states in Health-Sector:
a) Kerala is the best performer in term of the expectancy at birth (both male and female) in last decade.
b) Madhya Pradesh the worst in terms of life expectancy at birth (both male and female) in last five years.
c) The highest birth rate in India is found in Goa.
d) Both the statement given in (a) and (b) are correct.
 
36. India is said to be in the second stage of demographic transition because
a) both birth and death rates are high.
b) birth rate is high but death rate is declining due to improving healthcare
c) death rates and birth rates are falling
d) None of the above
 
41. In India GDP is higher than GNP because
a) Import is higher than exports
b) capital inflow is higher than capital outflow.
c) net factor income is negative
d) government expenditure is more than income
 
42. National Income of India is compiled by
a) Finance Commission
b) Indian Statistical Institute
c) National Development Council
d) Central Statistical Organisation
 
44. People below poverty line in India are classified as such based on whether
a) they are entitled to a minimum prescribed food basket.
b) they get work for a minimum number of days in a year.
c) they belong to minority groups
d) their daily wages follows below prescribed minimum wages.
 
168. Which of the following is likely to cause current account deficit in India?
I. Reduced excise duties on Sports Utility Vehicles
II. Reduced duties on Gold
III. Ban of export of Onions
a) Both I & II
b) Both II & III
c) Only I & III
d) I, II & III
 
176. National income calculated at current price in India has shown a tendency to rise at a faster rate than national income at constant prices because
a) General price level has been rising fast
b) India’s population has been rising.
c) Base year chosen is abnormal
d) None of the above
 
200. Which among the following is popularly known as mercantile law of India?
a) Contract Law
b) Law of Torts
c) Labour Law
d) Property Law
 
 

WBCS Main Question Paper – 2017

124. The data of estimation of India’s National Income is issued by
(A) Planning Commission
(B) National Data Centre
(C) Central Statistical Organisation
(D) None of the above
 
116. One of the problems in calculating the national income in India correctly is
(A) under-employment    
(B) inflation       
(C) non-monetised consumption     
(D) low savings
 
117. India’s wage policy is based on
(A) Cost of living      
(B) Standard of living      
(C) Productivity      
(D) None of the above
 
118. The most important source of capital formation in India has seen
(A) Household savings
(B) Public sector savings
(C) Government revenue surpluses
(D) Corporate savings
 
127. Which is not added in the calculation of national income of India ?
(A) The value of goods and services
(B) The sold value of the old fridge
(C) Services rendered by the housewives
(D) Both (B) and (C)
 
128. How much does the primary sector contribute to India’s GDP ?
(about 17% – 2019)
(A) 26%       
(B) 20%   
(C) 53%      
(D) 14%
 
129. What base year is used to calculate per capita income in India  ?
(base year – 2011-12 in 2019)
(A) 2004-05      
(B) 2011-12       
(C) 2001-02     
(D) 2014-15
 
130. Who among the following did not estimate the incidence of poverty in India ?
(A) B. S. Minhas       
(B) P. K. Bardhan      
(C) V. M. Dandekar and N. Rath    
(D) Raj Krishna
 
139. In India, which of the following affects poverty line the most ?
(A) Level of prices     
(B) Production quantum      
(C) Per capita income    
(D) Quantum of gold reserve
 
140. Which of the following are the main causes of slow rate of growth of per capita income in India ?
1. High capital – output ratio
2. High rate of growth of population
3. High rate of capital formation
4. High level of fiscal deficits
(A) 1, 2       
(B) 2, 3, 4      
(C) 1, 4      
(D) All of the above
 
141. National Sample Survey Organisation (NSSO) was established in
(A) 1947      
(B) 1948      
(C) 1949      
(D) 1950
143. Which state has the highest per capita income in India ?
(A) Delhi       
(B) Punjab      
(C) Goa      
(D) West Bengal
 
151. The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of
(A) 15% to 20%     
(B) 20% to 25%       
(C) 25% to 30%      
(D) 30% to 35%
 
166. The Human Development Index (HDI) is a composite of three indicators such as
(A) longevity, educational attainment and standard of living
(B) longevity, poverty and change in output
(C) growth, poverty and educational attainment
(D) poverty, standard of living and educational attainment
 
172. Mixed economy means an economy where
(A) there is co-existence of public sector along with private sector.
(B) both agriculture and industry are equally promoted by the state.
(C) economy is controlled by military as well as civilian live.
(D) there is importance of small scale industries along with heavy industries.
 
179. Which one of the following is / are a / an indicator of the financial health of a country ?
(i) GDP      
(ii) PPP       
(iii) FDI in a year
(A) Only (i)      
(B) Only (ii)       
(C) Only (iii)      
(D) All (i), (ii) & (iii)
 
180. Which one of the following is a driving force influencing the industrial growth of an economy ?
(A) Economic factors only      
(B) Investment only     
(C) Innovation / Market base only     
(D) All of the above
 
105. Consider the following statements :
(1) India’s GDP is more than its GNP.
(2) Net Factor Income from Abroad (NFIA) is positive for India.
     Which of the statements given above is / are correct ?
(A) 1 only     
(B) 2 only      
(C) Both 1 and 2     
(D) Neither 1 or 2
 
106. The largest percentage of bonded labour in India belongs to
(A) scheduled castes       
(B) scheduled tribes       
(C) other backward classes     
(D) None of the above
 
112. In India, inflation is measured by
(A) wholesale price index number
(B) consumer price index number for urban non-manual workers
(C) net national product at market prices
(D) gross national product at market prices
 
191. How much population is living below poverty line in India ?
(A) Approx. 23.6%      
(B) Approx. 25%      
(C) Approx. 26%      
(D) Approx. 27%
 
193. India is regarded as a country with ‘Demographic Dividend’. This is due to
(A) its high population in the age group below 15 years
(B) its high population in the age group of 15-64 years
(C) its high population in the age group above 65 years
(D) its high total population
 
36. India opted for ‘mixed economy’ in
(A) framing of the constitution
(B) Industrial Policy of 1948
(C) Second Five Year Plan
(D) None of the above
 
 

WBCS Main Question Paper – 2016

72. What is the percentage of people below Poverty line according to Rangarajan Committee ?
(A) 32 per cent        
(B) 29.5 per cent       
(C) 26 per cent      
(D) 40 per cent
 
61. Consider the following specific stages of demographic transition associated with economic development-
(1) Low birth rate with low death rate
(2) High birth rate with high death rate
(3) High birth rate with low death rate
     Select the correct answer using the codes given below
(A) 1, 2, 3        
(B) 2, 1,3         
(C) 2, 3, 1      
(D) 3, 2, 1
 
90. Which of the following benefits from inflation ?
(A) Lender        
(B) Borrower      
(C) Both       
(D) None of the above
 
102. Which of the following states has the literacy rate lower than the national average ?
(A) Karnataka       
(B) West Bengal         
(C) Andhra Pradesh        
(D) Maharashtra
 
113. On the basis of the Report of the Census Commission, the biggest city in India is-
(A) Kolkata         
(B) Mumbai         
(C) Delhi        
(D) Nagpur
 
117. The contribution of agriculture and allied sectors to the Gross Domestic Product of India in 2012-13 was 
(A) 15%      
(B) 14.1%      
(C) 17%       
(D) 20%
 
119. Has the inequality of income been reduced very much because of increased national income in India in the last three decades ?
(A) Yes   
(B) No  
(C) May be        
(D) May be not
 
122. Arrange the following Indian states in descending order from urbanisation point of view.
(1) West Bengal       
(2) Tamil Nadu       
(3) Maharashtra       
(4) Gujarat
        Select the correct answer using the codes given below.
(A) 1, 2, 3. 4         
(B) 2, 3, 4, 1        
(C) 3, 4, 2, 1        
(D) 4, 3, 2, 1
 
127. The average rate of domestic savings (gross) for the Indian economy is currently estimated to be in the range of –
(A) 15 to 20 %   (2019)  
(B) 20 to 25 %         
(C) 25 to 30 %       
(D) 30 to 35 %
 
129. More than one-third of India’s population is concentrated in the states of –
(A) Uttar Pradesh, Maharashtra, Bihar
(B) Uttar Pradesh, Bihar, Andhra Pradesh
(C) Uttar Pradesh, Tamil Nadu, West Bengal
(D) Uttar Pradesh, Maharashtra, Madhya Pradesh
138. Which among the following items is taken as the real measure of a country’s international competitiveness
(A) Real Exchange Rate
(B) Nominal Exchange Rate
(C) Superfluous Exchange Rate
(D) None of the above
 
139. What are the conditions to be fulfilled by a country including India to obtain structural adjustment loan from the World Bank ?
(A) Privatisation        
(B) Liberalisation        
(C) Globalisation       
(D) All of the above
 
152. Devaluation of currency leads to
(A) fall in domestic prices
(B) increase in domestic prices
(C) can’t be predicted
(D) None of the above
 
157. The components of HDI is / are
(A) Life expectancy index       
(B) Infant mortality rate
(C) Population growth rate        
(D) All of the above
 
174. The most important source of capital formation in India has been –
(A) Household saving
(B) Public sector saving 
(C) Government revenue surpluses
(D) Corporate saving
 
178. In India, inflation measured by the –
(A) Wholesale Price Index Number
(B) Consumer Price Index for urban non-manual workers
(C) Consumer Price Index
(D) National Income Deflation
 
180. Factors responsible for current inflation are
(A) circulation of black money
(B) government expenditure on subsidy
(C) excess of demand over supply of goods
(D) All of the above
 
183. Economic growth in India will happen necessarily if there is –
(A) Population growth
(B) Capital formation
(C) Technical progress in the global economy
(D) All of the above
 
191. In India, inflation measured by the –
(A) National Income Deflation
(B) Whole sale Price Index Number
(C) Consumer Price Index
(D) None of the above
 
194. What is the Global rank of India in terms of its purchasing power parity ?
(A) 3rd       
(B) 5th      
(C) 10th       
(D) 17th
 
197. Which of the following governmental steps has proved relatively effective on controlling the double digit rate inflation in the Indian economy during recent years ?
(A) Containing budgetary deficits and unproductive expenditure
(B) Streamlined public distribution system
(C) Enhanced rate of production of all consumer goods
(D) Pursuing an export oriented strategy
 
199. India is regarded as a country with ‘Demographic Divide’. This is due to –
(A) its high population in the age group below 15 years
(B) its high population in the age group below 15 – 64 years
(C) its high population in the age group above 65 years
(D) its high total population
 
 

WBCS Main Question Paper – 2015

103.  Which of the following is not true about Indian economy
(A) The contribution of the primary sector in the GDP is increasing regularly
(B) The share of its tertiary sector increased
(C) The share of the secondary sector never crossed 40%
(D) It is an agrarian economy directly shifting towards service economy
 
117.  World Trade Organisation (WTO) advised less developed countries to
(A) Impose export subsidy       
(B) Practice exchange control measures
(C) Practice market opening and free trade in goods and services
(D) None of the above
 
130.  Advantages of foreign capital are found in this way (find correct statement)
(A) It is often speculative and creates uncertainty in capital market
(B) It may bring unsuitable technology
(C) It bridges the gap between domestic investment and savings
(D) It results in economic drain
 
145.  If withdrawal of workers from employment does not create output loss, this is
(A) Search unemployment       
(B) Voluntary unemployment
(C) Disguised unemployment       
(D) Frictional unemployment
 
157.  The decade 1965-1975 witnessed, in India
(A) Very high growth of Industries      
(B) High growth of Industries       
(C) Stagnation      
(D) None applies
 
190.  A closed economy is in which
(A) money supply is fully controlled       
(B) deficit financing takes place
(C) only export is there        
(D) neither export nor import takes place
 
192.  Major burden of excise tax falls on
(A) Very wealthy persons     
(B) Rich persons
(C) Low middle class and poor persons      
(D) None of the above
 
 

WBCS Main Question Paper – 2014

55.  Merit goods are those goods in which
(A) The social benefit is much greater than the sum of private benefits to individual consumers
(B) The private benefits is much greater than the social benefit
(C) The Benefits are equal
(D) None of the above
 
71.  ‘Fiscal Drag‘  implies –
(A) A situation where inflation pushes income into higher tax bracket creep
(B) The situation of decrease in income taxes
(C) A situation of increase in real purchasing power
(D) None of the above
 
81.  National Income of India is measured by –
(A) C.S.O.     
(B) Planning Commission       
(C) Finance Ministry     
(D) R.B.I
 
83.  D. A. (Dearness Allowance) is paid on the basis of –
(A) Standard of living      
(B) Per capita Income       
(C) Consumer Price index     
(D) National Income
 
95.  Devaluation of currency by a country is meant to lead to –
(i) expansion of import trade
(ii) promotion of import substitution
(iii) expansion of export trade
(iv) All the above Options :
(A) (i) only         
(B) (ii) and (iii)        
(C) (i) and (ii)       
(D) (iv)
 
96. Poverty in less developed countries largely due to
(A) Voluntary idleness
(B) Income inequality
(C) Lack of cultural activities
(D) Lack of intelligence of the people
 
 



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