111. In which year ‘New Economic Policy’ was announced in India?

1. 1990
2. 1991
3. 1992
4. 1989

Option “B” is correct
India’s New Economic Policy of 1991 was a neoliberal Structural Adjustment Program that allowed India to qualify for aid from the World Bank and IMF.
112. Which among the following comes under secondary sector of Indian Economy?

1. Sugar Industry
2. Fishing
3. Insurance
4. Transport of goods

Option “A” is correct
The secondary sector of the economy includes those economic sectors that create a finished usable product and hence depend on primary sector industries for the raw materials. This sector includes mining, manufacturing (Sugar Industry) and construction.
113. What is seasonal unemployment?

1. Kind of unemployment generally found in urban areas.
2. Kind of unemployment when people are not able to find jobs during some months of the year
3. Kind of unemployment when people are able to find jobs during the year
4. None of these

Option “B” is correct
Seasonal unemployment happens when people are unemployed at certain times of the year, because their industries don’t need them all year round.
114. ________ sector covers those enterprises (or) places of work where the terms of employment are regular.

1. Unorganized
2. Organised
3. Disguised
4. Seasonal

Option “B” is correct
Organised sector covers those enterprises (or) places of work where the terms of employment are regular.
115. Which of the following is not a method of estimating national income?

1. Expenditure method
2. Output method
3. Matrix method
4. Income method

Option “C” is correct
Three strategies have been used to obtain the market values of all the goods and services produced and calculating national income: the product (or output) method, the expenditure method, and the income method. Matrix method is not method used for calculating National Income.
116. Which of the following taxes is levied by the State Government only?

1. Wealth tax
2. Entertainment tax
3. Income tax
4. Corporate tax

Option “B” is correct
Entertainment tax is a duty that is charged by the government on any source of entertainment provided. This tax can be charged on movie tickets, tickets to amusement parks, exhibitions and even sports events. Entertainment tax is levied by the State Government only.
117. HDI is an aggregate measure of progress in which of the three dimensions?

1. Health, Education, Income
2. Food Security, Employment, Income
3. Agriculture, Industry, Services
4. Height, Weight, Colour

Option “A” is correct
The Human Development Index (HDI) is a composite statistic (composite index) of life expectancy(health), education, and per capita income indicators, which are used to rank countries into four tiers of human development.
118. The operational period of 12th Five Year Plan is –

1. 2007-12
2. 2012-17
3. 2015-20
4. 2005-10

Option “B” is correct
The operational period of 12th Five Year Plan is 2012-2017. It aims at a growth rate of 8%
119. _____ sector is characterised by small and scattered units which are largely outside the control of the government.

1. Unorganized
2. Organised
3. Disguised
4. Seasonal

Option “A” is correct
The unorganised sector is characterised by small and scattered units which are largely outside the control of the government.
120. What is Educated unemployment?

1. Kind of unemployment generally found in urban areas
2. Kind of unemployment when people are not able to find jobs during some months of the year
3. Kind of employment generally found in urban areas
4. None of these

Option “A” is correct
Educated unemployment or underemployment is due to a mismatch between the aspirations of graduates and employment opportunities available to them. It is generally found in urban areas.
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