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Indian Economy Quiz

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Questions and Answers

What is the rank of India by nominal GDP?

Third

Tenth

First

Fifth (correct)

What led to the adoption of broad economic liberalization in India in 1991?

End of the Cold War

Colonialism

Acute balance of payments crisis (correct)

Soviet influence

What economic policies did successive governments follow from independence until 1991?

Capitalist model

Soviet model and promoted protectionist economic policies (correct)

Free market policies

Laissez-faire policies

What has been the annual average GDP growth since the start of the 21st century?

6% to 7% (D) Signup and view all the answers

What percentage of the global economy does India account for in 2022 in PPP terms?

7.2% (B) Signup and view all the answers

What does microeconomics analyze?

Individual agents and markets, their interactions, and the outcomes of interactions (A) Signup and view all the answers

What does macroeconomics analyze?

The economy as a system where production, consumption, saving, and investment interact (B) Signup and view all the answers

What are the broad distinctions within economics?

Positive economics and normative economics (B) Signup and view all the answers

Where can economic analysis be applied?

Business, finance, cybersecurity, health care, engineering, and government (C) Signup and view all the answers

What is the focus of rational economics and behavioural economics?

Rational economics focuses on the assumption that individuals act in their self-interest, while behavioural economics focuses on the psychological and emotional factors influencing economic decisions (B) Signup and view all the answers

Indian Economy Quiz

Choose a study mode

Podcast

Questions and Answers

What is the rank of India by nominal GDP?

What led to the adoption of broad economic liberalization in India in 1991?

What economic policies did successive governments follow from independence until 1991?

What has been the annual average GDP growth since the start of the 21st century?

What percentage of the global economy does India account for in 2022 in PPP terms?

What does microeconomics analyze?

What does macroeconomics analyze?

What are the broad distinctions within economics?

Where can economic analysis be applied?

What is the focus of rational economics and behavioural economics?

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