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WorksheetsParashnotri
Total questions: 25
Worksheet time: 13mins
When was planning commission of India was established?
1947
1948
1949
1950
What replaced planning Commission, in 2015?
Atal Innovation Mission (AIM)
Economic Advisory council
National institution for Transforming India (NITI Ayog)
None of the above
Which form of decentralisation involve local governmental agencies, with the partnership of citizens?
Administrative Decentralisation
Economic Decentralisation
Political Decentralisation
Financial Decentralisation
In centrally planned economy, which body makes economic decisions?
Government
Private
Both 1 and 2
Neither 1 and 2
Which of the following is an advantage of central planning?
Encourages competition among private firms
Allows the government to direct economic investment towards social goals
Promotes unregulated free-market policies
None of the above
Which economist criticised that central planning cannot efficiently respond to supply and demand?
Karl Marx
Adam Smith
Friedrich Hayek
Alfred Marshall
Which one of the following is not the function of planning commission of India?
tracking the progress of Five-Year Plans.
encouraged research and innovation in various fields.
conducted regular assessments of India's resources.
Conducting monetary policy decisions.
What is Multi-Level Planning?
A centralized planning approach
A market-driven economic model
A decentralized approach involving multiple tiers of government
A financial strategy for foreign investments
How can decentralization be improved?
By centralizing decision-making power
By training managers and enhancing their skills
By reducing public participation
By limiting financial resources to local agencies
When was Twelfth Five-Year Plan implemented?
1974-1978
1992-1997
2007-2012
2012-2017
What are the features of Multi Level Planning in India?
Lower-level plans provide a broad framework
Higher-level plans are formulated within these to ensure coherence
Plans are formulated at multiple levels
All of the above
What is a major challenge in Multi-Level Planning?
Excessive participation of local bodies
Overfunding of local projects
Limited decision-making power of local bodies
Absence of national planning policies
Which stakeholder allocate resources and monitors the progress of different states and regions?
State Government
Local Government
Central Government
Gram Panchayat
Identify the institutions that are included under Local self-governance bodies.
Panchayati Raj Institutions (PRIs)
Urban Local Bodies (ULBs)
Both 1 and 2
None of the above
Which kind of transfers help bridge financial gaps in Multi-level planning?
Foreign direct investment
Direct tax Collection
Intergovernmental Fiscal Transfers
Stock Market Investments
Assertion: Decentralized planning facilitates bottom-up decision-making. Reason: It allows active involvement of local communities in the planning process.
Both A and R are true and R is the correct explanation of A
Both A and R are true but R is not the correct explanation of A
A is true but R is false
A is false but R is true
Which of the following statements are false regarding GDP (Gross Domestic Product)?
It is the total market value of all final goods and services produced in a during a specific period.
GDP only includes the intermediate goods, that are used to make products.
Goods and services produced by foreign companies operating within the country is a part of GDP
It considers the market price of goods and services, not their quantity.
The loss in the value of capital goods over time due to factors like wear and tear, obsolescence, and accidental damage is termed as
Depreciation
Capital loss
Damage in product
Overuse of product
NDP is calculated by-
GDP-Depreciation
GDP+Depreciation
NDP-Depreciation
NNP-Depreciation
Which measures the total market value of all final goods and services produced by a country's residents, regardless of their location?
GDP (Gross Domestic Product)
GNP (Gross National Product)
NNP (Net National Product)
NDP (Net Domestic Product)
If a country's GDP is $100 billion and the depreciation is $15 billion, then what would be NDP of the country?
$75 billion crore
$85 billion crore
$115 billion crore
$65 billion crore
Why is NNP considered a better measure of a country's true economic health than GNP?
It accounts for depletion of capital assets
It includes all financial transactions, including illegal trade
It only considers the manufacturing sector
It ignores income from foreign investments
Which term has largely replaced Gross National Product (GNP) in modern economic analysis?
Net National Product (NNP)
Gross National Income (GNI)
Per Capita Income
Purchasing Power Parity (PPP)
Assertion (A): NNP provides a more accurate picture of a country's long-term economic health than GNP. Reason (R): NNP is calculated by subtracting government expenditures from GNP.
Both A and R are true and R is the correct explanation of A
Both A and R are true but R is not the correct explanation of A
A is true but R is false
A is false but R is true
A country's GNP is $500 billion and it's NNP is $420 billion, what is the depreciation?
$70 billion
$920 billion
$80 billion
$20 billion
