MACRO AND INDIAN ECONOMIC DEVELOPMENT

WHO IS THE FATHER OF MACRO ECONOMICS

• P SAMUELSON

• J M KEYNES

• ADAM SMITH

• MALTHUS

The colonial government never made any sincere attempt to estimate India’s national and per capita income. Who among the following were the Indian estimators who attempted to measure such incomes?

i) Dadabhai Naoroji

ii) William Digby

iii) V.K.R.V. Rao

iv) Motilal Nehru

• I and ii

• i and iii

• i, iii and iv

____________ was the rate of growth of per capita output per year during the first half of the 20th century

• 0.5 %

• 1 %

• 1.5%

• 2%

British rule lasted for almost for _____________years.

• 100 years

• 50 years

• 200 years

• 300 years

British policies transformed the country into a______________ of raw material and __________ of finished goods from Britain.

• consumer, supplier

• supplier, consumer

How were the third category of industries allocated to private sector kept under state control?

• allocation of capital goods

• industrial licensing

• state distribution of goods

• procurement of goods by government only

Which objective of planning was considered a necessity to reduce our dependence on foreign goods:

• modernisation

• self reliance

• growth

• all of the above

Tariffs and quotas adopted under foreign trade policy during 1950-1990 was to :

• increase exports

• increase foreign competition

• restrict imports and protect domestic industries from foreign competition

• make exported goods cheaper

The opening of suez canal in 1869 :

• raised the cost of goods transportation between Britain and India

• reduced exports of goods from India to foreign countries

• reduced the cost of transportation between Britain and India

• Adversely affected Britain's monopoly control of india's trade

The british turned the Indian economy into supplier of raw material and consumer of british industrial goods. this is the feature of which economy

• colonial

• stagnant

• amputated

• semi feudal