Directions (Q. 1-10): Read the passage carefully and answer the questions given below it. Certain words/ phrases are given in bold to help you locate them while answering some of the questions.
The most comprehensive indicator of economic growth in an economy is the average annual growth in real Gross Domestic Product (GDP) that is originating within the geographical boundary and measured at constant base period prices. It would, therefore,
reflect average incremental availability of goods and services produced domestically in the economy over time. When the growth NDAN of real GDP is adjusted for the population growth, it gives the average annual growth of per capita real GDP and reflects closely the improvements in standard of living enjoyed by people in the economy on an average over time. This is particularly valid for large countries where the cross-border flows of goods and services are limited in relation to the amount produced within the geographical boundary. These three average annual growth rates in (i) real GDP, (ii) population and (iii) per capita GDP (PCI) are very significant parameters to reflect the performance and prospects of economic development in any country over a fairly long time period.The history of economic growth in India is both interesting and educative. Comparable time series estimates of real GDP in India can be stretched back till the year 1890 for meaningful analysis.
The growth performance during the first phase when the country was under the last 50 years of the British rule was the worst during all the phases so far. Real GDP grew at around 1 per cent annually and so did the population. As a result, the per capita real income almost stagnated for the first fifty years of the last century in India. Since the last fifty years of the British rule in the country were perhaps the best period for the Indian economy under their rule of about 190 years in terms of development of all physical and social overhead capital such as railways, physical and social overhead capital such as railways, ports, schools, colleges, hospitals, banks and other institutions, it can be safely assumed that the stagnation of real living standards of people observed during 1900-51 was perhaps the phenomenon during the entire period of 190 years of the British rule in the country. These two centuries of stagnation ensured that one of the richest countries in the world luring everybody by its wealth and prosperity turned into one of the poorest countries by the year 1950-51.
1. Which of the following cannot be inferred from the given passage?
1) To calculate the economic development of a country one should have the data related to real GDP and population.
2) During the last fifty years of the British rule the growth performance was not at all good.
3) The rates of population growth and economic growth were the same during the phase of the last
fifty years of the British rule.
4) The per capita real income during the first fifty years of the last century in India registered no positive growth rate.
5) During the two centuries of British rule, the last fifty years was certainly the worst period for the
Indian economy.
2. Which of the following correctly gives the average annual growth of per capita real GDP? Reply on the basis of the given passage.
1) The average annual growth of per capita real GDP is the market value of all final goods and services produced within a country in a year.
2) The average annual growth of per capita real GDP is the product of sum total of GDP and GNP divided by the total population of a country.
3) The average annual growth of per capita real GDP is the product of growth of real GDP divided by the population growth of a country over the given period.
4) The average annual growth of per capita real GDP is the adjusted value of GDP for changes in money value in the given period.
5) None of these
3. When was greater emphasis laid on the development of social overhead capital in India during the British rule?
1) During the entire period of 190 years of British rule in India
2) During the last fifty years of the last century of British rule in India
3) During the last fifty years of the first century of British rule in India
4) During the entire period of the last century of the British rule in India
5) Not mentioned in the given passage
4. Why did India become one of the poorest countries in the world by the year 1950-51?
1) Because of the drain of wealth to England
2) Because of uncalculated investment for the development of physical and social overhead capital
3) Because of static economic growth
4) Because of overpopulation and no positive economic growth
5) Because of misrule by the British
5. Find the correct statement on the basis of the given passage.
(A) The GDP indicates the production of goods and services in a country over time.
(B) The most important indicator of an economy is the growth in real GDP of a country measured at
wholesale price index.
(C) The living standard of the citizen of a country is closely related to the average annual growth of
per capita real GDP.
1) Only (A)
2) Only (B)
3) Only (C)
4) Only (A) and (B)
5) Only (B) and (C)
Directions (Q. 6-8): Choose the word/group of words which is MOST SIMILAR in meaning to the word/ group of words printed in bold as used in the passage.
6. Parameters
1) purview
2) criteria
3) constant
4) limitations
5) amplitude
7. Stagnated
1) declined
2) surged
3) grew
4) derailed
5) stalled
8. Luring
1) dispersing
2) dispelling
3) tempting
4) banishing
5) disenchanting
Directions (Q. 9-10): Choose the word/group of words which is MOST OPPOSITE in meaning of the word/ group of words printed in bold as used in the passage.
9. Prospects
1) impossibility
2) chance
3) hope
4) anticipation
5) likelihood
10. Stretched
1) go
2) draw
3) protract
4) dragout
5) shrink
Answer:-
Q. 1 (5) | Q. 2 (5) | Q. 3 (2) | Q. 4 (3) | Q. 5 (3) |
Q. 6 (2) | Q. 7 (5) | Q. 8 (3) | Q. 9 (1) | Q. 10 (5) |
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