Correct option is D
A closed economy is one that has no trading activity with outside economies. Closed economy is therefore entirely self-sufficient, which means no imports come into the country and no exports leave the country.
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A ‘closed economy’ is an economy in which :
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- 1)
In which among the following year the MRTP/Monopolies and Restrictive Trade Practices act become effective
- 2)
In India, Special Economic Zone policy was announced in :
- 3)
A ‘closed economy’ is an economy in which :
- 4)
Given below are two statements, one labelled as Assertion (A) and the other as Reason (R).
Assertion (A) : When the payments made by a country exceeds its receipts from trade of goods, services, transfer and net income, is called Current Account Deficit (CAD).
Reason (R) : Current Account Deficit (CAD) occurs when a country exports more goods, services and capital.
Choose the correct answer from the code given below.
Code :
- 5)
Disguised unemployment in India is mainly related to :
I. Agricultural sector
II. Rural Area
III. Manufacturing sector
IV. Urban area
Select the correct answer from the codes given below :
Codes :
- 6)
Which of the following committees has given its recommendations on ‘financial inclusion’?
- 7)
With reference to the Indian economy, demand-pull inflation can be caused/increased by which of the following?
1. Expansionary policies
2. Fiscal stimulus
3. Inflation-indexing wages
4. Higher purchasing power
5. Rising interest rates
Select the correct answer using the code given below.
- 8)
Inflation is beneficial to which of the following sections of the economy?
- 9)
Arrange the following in their chronological order :
1. The First Five Year Plan was submitted to Parliament.
2. The National Development Council was set-up.
3. First devaluation of Indian currency after independence took place.
4. India became a member of the International Monetary Fund (IMF).
Select the correct answer with the codes given below :
- 10)
Consider the following statements :
Statement (A) : ' Bottom-up Planning' is a goal that is yet to be achieved.
Reason (A) : Village as a unit is very suitable for economic viability.
With reference to above which one of the following is the correct answer :
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