Indian Economy Mixed Quiz: Set 63

Agriculture uses natural resources directly, and services are the tertiary sector. Economic activities are grouped into three main sectors.

As a member of the World Trade Organization, India had to protect geographical indications under the TRIPS Agreement, and the 1999 Act was passed for that purpose.

The printed maximum retail price is the most a seller may charge, so it works as an upper limit, a price ceiling.

Prasanta Chandra Mahalanobis founded the Indian Statistical Institute at Kolkata in 1931, set up the National Sample Survey in 1950, gave statistics the distance measure named after him, pioneered large scale sample surveys and pilot surveys, and prepared the plan frame of the Second Five Year Plan, which placed heavy…

In Keynes's consumption function, consumption rises as income rises, so the curve slopes upward.

Necessities and luxuries are matched correctly, but an inferior good has a negative income elasticity, not a positive one. Income elasticity of demand is the percentage change in quantity demanded divided by the percentage change in income.

Foreign investors may hold G-Secs and exchanges run debt platforms, but the LAF window is not open to NBFCs. The Liquidity Adjustment Facility is the RBI's tool for managing day-to-day liquidity through repo and reverse repo operations.

Bharatiya Reserve Bank Note Mudran Private Limited was set up in 1995 as a wholly owned subsidiary of the Reserve Bank and runs the two banknote presses at Mysuru in Karnataka and Salboni in West Bengal.

One Stop Centres, launched in 2015 and financed from the Nirbhaya Fund, are called Sakhi centres and bring medical aid, police assistance, legal aid, psychological counselling and temporary shelter for a woman affected by violence under one roof.

Launched in 2015, it brings irrigation work under one umbrella with the Accelerated Irrigation Benefit Programme for major and medium projects, Har Khet Ko Pani for creating new sources, Per Drop More Crop for drip and sprinkler micro-irrigation, and watershed development for rainfed areas.

In 1793 he settled the land revenue of Bengal, Bihar and Odisha permanently with the zamindars, who were recognised as proprietors so long as they paid a demand fixed for ever, and the cultivator was left without any recorded right in the land.

India has no bilateral free trade agreement with Brazil. Its only preferential link with Brazil is through the limited India-MERCOSUR Preferential Trade Agreement, which covers a short list of products at reduced duty and is not a free trade agreement.

In a capitalist or market economy the means of production are privately owned and nobody issues orders about production.

The mission promises a functional household tap connection giving at least 55 litres of potable water per person per day of prescribed quality, a norm raised from the earlier rural standard.

Make in India was launched in 2014, not 2018, and fostering innovation is one of its stated objectives. Prime Minister Narendra Modi launched Make in India on 25 September 2014 to turn India into a global hub for design and manufacturing.

Import cover is the number of months of imports a country could pay for with its foreign exchange reserves. It is worked out by dividing a country's total international reserves by its average monthly import bill.

The commission headed by C. Rangarajan reviewed the Indian statistical system and recommended a permanent and autonomous body to lay down standards, so the National Statistical Commission was constituted in 2005 as an advisory body with a part-time chairperson, members and the chief executive officer as its secretary; the chief…

The terms of employment, such as regular jobs, fixed hours and legal protection, decide whether work belongs to the organized or the unorganized sector.

India's mobile telecom market is served by a handful of large operators, each big enough that its tariffs affect the others.

On the frontier all resources are fully and efficiently used, so producing more of one good is possible only by giving up some of the other.