Economic Development and Growth in India: Policies and Trends
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Questions and Answers

Which economic sector includes activities related to farming, livestock, and forestry?

  • Industry
  • Agriculture (correct)
  • Services
  • Manufacturing
  • What is the main focus of the Competition Act 2002 in India?

  • Regulating competition to prevent anti-competitive practices (correct)
  • Limiting foreign investments
  • Encouraging unfair trade practices
  • Promoting monopolies
  • Which policy tool is used by the Reserve Bank of India (RBI) to control inflation?

  • Monetary policy (correct)
  • Fiscal policy
  • Trade policy
  • Industrial policy
  • In which module would you likely find discussions on issues related to economic development?

    <p>Module 4</p> Signup and view all the answers

    Which sector of the economy is primarily involved in providing intangible goods and services?

    <p>Services</p> Signup and view all the answers

    What type of models are discussed under Macroeconomics in the provided text?

    <p>Two and three sector models</p> Signup and view all the answers

    What is the primary focus of Module 5 in the economic development course?

    <p>Agriculture, Industry, and Service Sectors</p> Signup and view all the answers

    Which policy is discussed under Agriculture in the course material?

    <p>Public Distribution System and Food Security</p> Signup and view all the answers

    What is a key aspect of Industrial Development since 1991 highlighted in the course?

    <p>Growth and Diversification</p> Signup and view all the answers

    What sector's growth and performance is discussed since 1991 in Module 5?

    <p>Agriculture, Industry, and Service Sectors</p> Signup and view all the answers

    In which module of the course is Banking Sector Reforms since 1991 discussed?

    <p>Module 6</p> Signup and view all the answers

    What is a significant trend in Monetary Policy discussed in the course material?

    <p>Trends in Inflation</p> Signup and view all the answers

    What happens to the aggregate demand curve if net exports are negative?

    <p>It shifts downward to the left</p> Signup and view all the answers

    At what point is the new equilibrium level of national income after the curve shift due to negative net exports?

    <p>Below E2</p> Signup and view all the answers

    Where is the equilibrium level of national income determined according to Keynes?

    <p>At the point where aggregate demand curve intersects aggregate supply curve</p> Signup and view all the answers

    In which phase of a business cycle does a country experience a contraction in economic activity?

    <p>Recession</p> Signup and view all the answers

    What is the main characteristic of the phase known as 'Prosperity' in a business cycle?

    <p>Expansion and high economic activity</p> Signup and view all the answers

    Why is it important for a country not to remain isolated from the rest of the world in terms of foreign relations?

    <p>To ensure stability in national income levels</p> Signup and view all the answers

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