51. Lorenz curve shows

1. Inflation
2. Unemployment
3. Income distribution
4. Poverty

Option “C” is correct
The Lorenz curve is a graphical representation of income inequality or wealth inequality developed by American economist Max Lorenz in 1905.
52. Who takes the decision regarding the savings and loan activities in a Self Help Group (SHG)?

1. Private Bank
2. Reserve Bank of India
3. Members of Group
4. Non Government Organizations

Option “C” is correct
Group members take the important decisions of SHG.The group owes responsibility for the repayment of loans. Other members of the group follow seriously if in case of non-repayment of loan by one member. The groups decides as regards the loans- to be granted-the purpose, amount, interest to be charged, repayment schedule.
53. “World Economic Outlook” report is published by which of the following ?

1. IMF
2. World Bank
3. RBI
4. UNCTAD

Option “A” is correct
World Economic Outlook” report by the International Monetary Fund (IMF) contains analysis and projections of the integral elements of the IMF’s surveillance of economic developments and policies in its member countries, and of the developments in the global financial markets and economic system.
54. The rate of tax increase as the amount of the tax base increases is called?

1. Proportional tax
2. Progressive tax
3. Regressive tax
4. Degressive tax

Option “B” is correct
The rate of tax increase as the amount of the tax base increases is called Progressive tax
55. 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.
56. 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%.
57. An economic system combining private and state enterprise is called as _____

1. Market economy
2. Centrally planned economy
3. Private economy
4. Mixed economy

Option “D” is correct
In a mixed economy, private and public sectors are involved in economy as two side of one coin. The government directs economic activity in some socially important areas of the economy, the rest being left to the price mechanism to operate.
58. What was the main motive of Third Five Year Plan in India?

1. Rural development
2. Agriculture
3. Financial inclusion
4. Economic reform

Option “B” is correct
The 3rd five year plan laid considerable stress on the agricultural sector. However, with the short lived Sino Indian War of 1962 India diverted its attention to the safety of the country. Again, during the period 1965 to 1966, owing to Green Revolution, once again agriculture attracted attention.
59. When there is only one buyer and one seller of product, it is called _____ situation.

1. Public monopoly
2. Bilateral monopoly
3. Franchised monopoly
4. Monopsony

Option “B” is correct
A bilateral monopoly is a market structure consisting of both a monopoly (a single seller) and a monopsony (a single buyer).
60. Which among the following is not an account under Balance of Payment (BOP)?

1. Current Account
2. Capital Account
3. Official Reserves Account
4. Financial accout

Option “C” is correct
Official Reserves Account is not an account under Balance of Payments(BOP).
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