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History of Development & Planning - Indian Economy General Awareness MCQs | Page-7

Questions
61 In public budgets, zero-base budgeting was first introduced in
A UK
B USA
C France
D Sweden

Answer: Option [B]

The correct answer is USA. Zero Base Budgeting was first evolved in USA in 1970 by Peter Phyrr which is an approach to make the budget from the scratch that is zero base. It is a method of budgeting where all the expenses of a business are justified and approved for each new period of the company.

62 Malthusian theory of population explored the relationship between
A Optimum growth and resources
B Population growth and development
C Food supply and technology
D Food supply and population growth

Answer: Option [D]

Malthusian theory of population explored the relationship between food supply and population growth. The Malthusian theory explained that the population grows in a geometrical fashion. The population would double in 25 years at this rate. However, the food supply grows in an arithmetic progression. Food supply increases at a slower rate than the population.

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63 In an economy, the sectors are classified into public and private on the basis of
A Use of raw materials
B Ownership of enterprises
C Employment conditions
D Nature of economic activities

Answer: Option [B]

In an economy, the sectors are classified into public and private on the basis of Ownership of enterprises. The industrial sectors are classified into public and private sectors on the basis of ownership of enterprises. Public sectors refers to government owned organisations and private sectors are not government owned.

64 Human Development Index was developed by:
A Friedman
B Amartya Sen
C Montek Singh
D Mahbub-ul-Haq

Answer: Option [D]

The correct answer is Mahbub-ul-Haq. Pakistani economist Mahbub ul Haq created HDI(Human Development Index) in 1990 which was further used to measure the country's development by the United Nations Development Program (UNDP).

65 Wage fund theory was propounded by
A J.B. Say
B J.S. Mill
C J.R. Hicks
D J.M. Keynes

Answer: Option [B]

Wage fund theory was propounded by J.S. Mill. In his theory he stated that employers keep a fund out of the total capital secured to pay the wages.

66 Which one of the following is not a dimension of human development index?
A Social status
B Knowledge
C Life expectancy
D Standard of living

Answer: Option [A]

The correct answer is Social status. Social Status is not a dimension of the Human Development Index. The index is based on the human development approach developed by Mahbub-ul-haq often framed in terms of whether people are able to be and do desirable things in life.

67 The New Economic Policy was introduced by:
A Lenin
B Stalin
C Kerensky
D Khrushchev

Answer: Option [A]

The New Economic Policy was introduced by Khrushchev.

68 The system of “Memorandum of Understanding” (MOU) was introduced in
A 1988-89
B 1987-88
C 1990-91
D 1989-90

Answer: Option [B]

The system of “Memorandum of Understanding” (MOU) was introduced in 1987-88. It was based on the report of the Arjuna Sengupta Committee (1984). A memorandum of understanding (MoU) is a type of agreement between two (bilateral) or more (multilateral) parties. It expresses a convergence of will between the parties, indicating an intended common line of action.

69 An economic theory is a/an
A Axion
B Hypothesis
C Proposition
D Tested hypothesis

Answer: Option [D]

An economic theory is a/an Tested hypothesis. Hypothesis testing is an act in statistics whereby an analyst tests an assumption regarding a population parameter. The methodology employed by the analyst depends on the nature of the data used and the reason for the analysis. Hypothesis testing is used to infer the result of a hypothesis performed on sample data from a larger population.

70 Externality theory is the basic theory of the following branch of Economics:
A Environomics
B Fiscal Economics
C Macro Economics
D International Economics

Answer: Option [A]

Externality theory is the basic theory of the following branch of Economics Environomics. In economics, an externality is a cost or benefit which results from an activity or transaction and which affects an otherwise uninvolved party who did not choose to incur that cost or benefit. Environmental pollution is a classic case of an externality. Externality theory forms the basic theory of environmental economics.

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