Economics Miscellaneous (Part – II)

Total Questions: 50

11. Bhakra-Nangal is a joint project of: [U.P.P.C.S. (Mains) 2012]

(a) Haryana-Punjab and Rajasthan
(b) Haryana-Punjab and Delhi
(c) Himachal Pradesh-Haryana and Punjab
(d) Punjab-Delhi and Rajasthan

Correct Answer: (a) Haryana-Punjab and Rajasthan

Solution:

Bhakra-Nangal is a joint project of Haryana, Punjab and Rajasthan. It is the most important multipurpose project named after the two dams built at Bhakra and Nangal on the Satluj river.

12. India's first textile university will be set up in which of And the following States? [B.P.S.C. (Pre) 2016]

Correct Answer: (c) Gujarat

Solution:In 2016, the Gujarat government announced its plan to set up India's first textile university in Surat (Gujarat) with an investment of about Rs. 800-900 crore.

13. Two statements are given below, one labelled as Assertion (A) and the other labelled as Reason (R). [I.A.S. (Pre) 1997]

Assertion (A): The emergence of economic globalism does not imply the decline of socialist ideology.

Reason (R): The ideology of socialism believes in universalism and globalism.

In the context of the above two statements, which one of the following is correct?

(a) Both A and R are true and R is the correct explanation An of A
(b) Both A and R are true, but R is not the correct explanation of A
(c) A is true, but R is false
(d) A is false, but R is true

Correct Answer: (c) A is true, but R is false

Solution:Socialism is a range of economic and social systems characterized by social ownership and democratic control of the means of production as well as the political theories and movements associated with them. The ideology of capitalism believes in universalism and globalism. But the emergence of economic globalism does not imply the decline of socialist ideology. Hence, Assertion is correct but Reason is not true.

14. Which one of the following is not taken as a factor among the non-economic factors, which contribute in economic growth? [Jharkhand P.C.S. (Pre) 2013]

(a) Human resource
(b) Corruption
(c) Social organization
(d) Market surplus in agriculture

Correct Answer: (d) Market surplus in agriculture

Solution:

Corruption acts as barrier in economic growth. So it is not responsible for economic growth of the country.

15. Which one of the following is not an example of economic infrastructure? [U.P.P.C.S. (Mains) 2004]

(a) Schools
(b) Sanitary facilities
(c) Coal mines
(d) Roads and Railways

Correct Answer: (c) Coal mines

Solution:Coal mines is not an example of economic infrastructure. Schools, Sanitary facilities and Roads and Railways are economic infrastructure.

16. Super Bazar is: [U.P.P.C.S. (Mains) 2003]

(a) Whole-sale organization
(b) Retail-sale organization
(c) Consumer cooperative organization
(d) Superior quality and high valued goods sale organization

Correct Answer: (b) Retail-sale organization

Solution:Super market is a large retail store operated on a self-service basis, selling groceries, fresh produce, meat, bakery and dairy products and sometimes an assortment of non-food goods.

17. Match List-I with List-II. [B.P.S.C. (Pre) 2023]

Footwear/Fashion Accessory	Description
A. Beret	1. A type of men's footwear
B. Stilettos	2. A type of sun-glasses
C. Aviators	3. A type of hat
D. Chignon	4. A type of women's footwear
E. Brogue	5. A type of hairstyle

Select the correct answer using the codes given below.

	A	B	C	D	E
(a)	3	2	1	4	5
(b)	3	4	2	5	1
(c)	5	3	2	4	1
(d)	1	2	3	4	5

Correct Answer: (b)

Solution:The correctly matched lists are as follows:

Footwear/Fashion Accessory	Description
Beret	A type of hat
Stilettos	A type of women's footwear
Aviators	A type of sun-glasses
Chignon	A type of hairstyle
Brogue	A type of men's footwear

18. Who is the Father of 'Modern Economics'? [M.P.P.C.S. (Pre) 2010]

(a) Adam Smith
(b) Marshall
(c) Keynes
(d) Robins

Correct Answer: (a) Adam Smith

Solution:Adam Smith was a Scottish economist and philosopher. He is known as 'The Father of Modern Economics' or 'The Father of Capitalism',

19. Which one of the following sets of economists strongly [I.A.S. (Pre) 1993]

(a) Adam Smith, Keynes, Hicks
(b) Adam Smith, Marx, Strumlin
(c) Adam Smith, Hayek, Friedman
(d) Adam Smith, Ricardo, J.K. Galbraith

Correct Answer: (d) Adam Smith, Ricardo, J.K. Galbraith

Solution:Classical economics is a broad term that refers to the dominant school of thought for economics in the 18th and 19th centuries. Most consider Scottish economist Adam Smith the progenitor of classical economic theory. Many of the fundamental concepts and principles of classical economics were set forth in Smith's 'An Inquiry into the Nature and Causes of the Wealth of Nations' (1776). Smith argued that free competition and free trade promotes a nation's economic growth. Its other main thinkers are David Ricardo, John Stuart Mill, Jean- Baptiste Say, J.K. Galbraith etc.

20. Who is the author of the book 'Wealth of Nations'? [U.P.P.C.S. (Mains) 2012]

(a) Adam Smith
(b) David Ricardo
(c) J.M. Keynes
(d) Gunnar Myrdal