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Set 1: Part 2: Economics MCQ For Prelims
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Set 1: Part 2: Economics MCQ For Prelims.

With 5 yr UPSC coaching experience; I wl help u get conceptual clarity of topics & their Applied Understanding to score more.

U
sir please explain GVA method in detail
8 months ago
Chetna what do u want me to answer about GVa? Pls tell. And do u find course useful. If so pls provide review and feedback.
Sir question no 6 answer would be D. In the order from 0 to 1 inequality increases
8 months ago
Yess U r ryt. I have already corrected that. U can read comments above. Thanks for Correction. How's course? Do u find it useful? If so do provide review and feedback.
Firdaus Ali
8 months ago
course is very nice but the answers needs a little more elaboration example for gdp and gva part the INFLATION EFFECT how it decreases cost of borrowing etc
Firdaus Ali
8 months ago
course is very nice but the answers needs a little more elaboration example for gdp and gva part the INFLATION EFFECT how it decreases cost of borrowing etc
S
Please clarify the question number - 6 answer about Gini coefficient because Gini coefficient 35 means india has lesser income inequality than buthan.
9 months ago
Hi Sreejith. Ya u r ryt.
9 months ago
I made mistake there. India has more ewuality than bhutan. Gini coefficient can theoretically range from 0 (complete equality) to 1 (complete inequality);
on gini coefficient......0 is equal 1 is unequal....so on 35 means india have more equality
9 months ago
Yess thats ryt. I explained it other way.
Anand kumar
9 months ago
thanks
1. Economics Test Series For Prelims unacademy Master Economics with the help of Conceptual Objective Practice Questions, By Prof. Akshay D Kadam https://unacademy.com/user/AkshayDKadam

2. Economics Sample Questions 6. India's Gini coefficient stands at 35 whereas that of Bhutan stands at 38. What can be inferred from this statement? a.India has higher number of people under poverty line than Bhutan b.India has higher number of millionaires than Bhutan c.India has higher income inequality than Bhutan d.India has lesser income inequality than Bhutan https://unacademy.com/user/AkshayDKadam fppt.com

3. Economics Sample Questions 7. Consider the following statements: i.M2, a measure of money supply in the economy constitutes currency held by the public, demand deposits held by commercial banks and savings deposits with Post Office savings banks. ii.M3, another measure of money supply constitutes M2 and net time deposits of commercial banks Which of the above statements is/are correct? a.1 only b.2 only c.Both 1 and 2 d.Neither 1 nor 2 https://unacademy.com/user/AkshayDKadam fppt.com

4. Economics Sample Questions 8. In the product method for calculation of GDP, which of the following is considered while deriving GVA (Gross value added) at basic prices? i.Production subsidy ii.Product subsidy iii. Product taxes iv.Compensation for employees of production firm Select correct answer using codes gi below a.1 and 2 only b.1 and 3 only c.1, 2 and 4 only d.1, 3 and 4 only https://unacademy.com/user/AkshayDKadam fppt.com

5. Economics Sample Questions 9. Which of the following are shortcomings of GDP? a. It doesn't account for services produced by foreign nationals in domestic economy b. It doesn't account for non-monetised activities c. It doesn't talk about structure of the economy d. It is not a useful tool for measurement of economic growth. 10. Consider the following statements: i. Budget deficit is the gap between to expenditure and total revenue. ii. Fiscal deficit is budget deficit breached by borrowing Which of the above statements is/are correct? a.1 only b.2 only c.Both 1 and 2 d.Neither 1 nor 2 https://unacademy.com/user/AkshayDKadam fppt.com

6. Economics Sample Questions 11. Weighted average of a country's currency 12. Which of the following are effects of relative to an index or basket of other major currencies, adjusted for the effects of inflation' is typically known as: a. Special drawing rights b. Managed exchange rate c. Nominal effective exchange rate d. Real effective exchange rate inflation on economy? i. Increases cost of borrowing due to increase in interest rates ii. Lowers cost of borrowing due to decrease in real interest rates ii. Reduces unemployment Select correct answer using codes given below: a. 1 only b. 2 only c. 1 and 3 only d. 1, 2 and 3 https://unacademy.com/user/AkshayDKadam fppt.com

7. Economics Sample Questions 13. Consider the following actions which the 14. The lowering of Marginal Standing Facility Government can take: i. Reducing supply of domestic currency ii. Increase in the export subsidy ii. Adopting suitable policies which attract C. No change in the liquidity in the market greater FDI Which of the above action/actions can help in commercial banks reducing the current account deficit? a. 1 only b. 1 and 2 c. 2 only d. 1 and 3 Rate by the Reserve Bank of India leads to: a. More liquidity in the market b. Less liquidity in the market d. Mobilization of more deposits by https://unacademy.com/user/AkshayDKadam fppt.com

8. Economics Sample Questions 15. Which one of the following is not a feature of "Goods and Services Tax"? a. It is a single point destination-based system of taxation b. It is a tax levied on value addition at each stage of transaction in the production- distribution chain c. GST subsumes countervailing duty on imported products d. GST seeks to promote a single, pan-Indian market 16. Which of the following are being implemented for furthering the Government's objective of inclusive growth? i. MUDRA scheme ii. StandUp India scheme ili JAM Trinity Select the correct answer using the codes given below a. 1 only b. 1 and 2 only c. 2 and 3 only d. 1, 2 and 3 https://unacademy.com/user/AkshayDKadam fppt.com

9. Economics Sample Questions 17. Which of the following constitute fiscal consolidation? i. Reduction in subsidies ii. Rationalization of tax regime ii Disinvestment from public sector enterprises iv. Reduction in grants given for creation of capital assets Select the correct answer using the codes given below a. 1 only b. 1 and 2 only c. 1, 2 and 3 only d. 1, 2, 3 and 4 18. Effective revenue deficit' is best described as: a. Central revenue deficit sans interest payment b. Central Revenue deficit sans grants givern to states for creation of capital assets c. Fiscal deficit breached by monetisation d. Revenue deficit adjusted for inflation https://unacademy.com/user/AkshayDKadam fppt.com

10. Economics Sample Questions 19. Which of the following qualify for capital receipts in government budget? i. Receipts from sale of capital assets ii. Sale proceeds of government bonds ii. Receipts from small savings schemes iv. Income from PSUs Select the correct answer using the codes given below: a. 1 only b. 1 and 2 only c. 1, 2 and 3 only d. 1, 2, 3 and 4 20. Which of the following combinations of economic policies would be most effective to correct a severe recession? a. Taxes increase, money supply increases b. Taxes increase, money supply decreases c. Taxes increase, money supply doesn't change d. Taxes decrease, money supply increases https://unacademy.com/user/AkshayDKadam fppt.com