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Set 6: Part 7: Economics MCQ for Prelims
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Set 6: Part 7: Economics MCQ for Prelims

I have 4 Years of Experience in Coaching. My Wife & My First Student in UPSC journey, Mrs. Madhulika Kadam, Cracked UPSC with AIR 190 Rank.

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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/AkshayDKadar

2. Consider the following statements about CASH RESERVE RATIO 1) CRR is amount of funds that banks are bound to keep aside from their net Demand and term liabilities with RBl on which RBl pays no interest to commercial banks. 2) The objective of the CRR is to ensure availability of Liquidity and solvency of the banks. 3) RBl increases CRR which leads to increased money supply in the economy and fall in interest rates Which of the above statements are correct? a) 1 and 2 only b) 1 and 3 Only c) 2 and 3 Only d) 1 2 and 3 India is passing through third stage of demographic transition; a stage of declining birth rate and low death rate. Which of the following best describes the population pyramid in third stage? a) Population pyramid expanding at bottom b) Population pyramid rapidly expanding c) Population pyramid is stationary d) Population pyramid is contracting

3. Consider the following statements about While calculation Dependency ratio of Legal tender - 1) One Rupee note and One rupee Coin age group is considered as economically are legal tenders for unlimited amount. productive (Not dependent population)? 2) 50 Paisa coins are legal tenders for any a) 15 to 64 Years of age sum not above Rs 10 3) The coins of smaller value are legal tenders of a sum below Re 1 Which of the above statements are correct? a) 1 and 2 only b) 1 and 3 Only c) 2 and 3 Only d) 1 2 and 3 Only population in India; which of the following b) 18 to 64 Years of age c) 15 to 60 years of age d) 18 to 60 Years of age https://unacademy.com/user/AkshayDKadam

4. Consider the following statements about Bank Deposit Insurance 1) Deposit Insurance and Credit Guarantee Corporation(DICGC) a statutory and an autonomous body created by an act of Parliament provides protection against lost of deposits kept with banks. 2) Only deposits kept by citizens in Scheduled commercial banks enjoys insurance cover of RBI. 3) The maximum amount per depositor insured is Rs 2 Lakhs including principle and interest. Which of the above statements are correct? a) 1 and 2 only b) 1 and 3 Only c) 2 and 3 Only d) None of the above Task Force appointed under ArvindPanagariya; under NITI aayog, supported the continuation of poverty line as defined by which of the following committee? a) AmartyaSen's definition of poverty b) Lakdawala Formula c) Tendulkar Committee d) Rangarajan Committee https://unacademy.com/user/AkshayDKadam

5. Consider the following statements about Which of the following forms part of Non Agriculture Credit 1) According to RBlI, Agriculture loans on India'? which interest or instalment of principal 1 Dividends from PSU's. remain overdue for a period of more than 2) Grants in Aid 90 days from day of issuance of credit is 3) Money generated out of Stamp termed as Non Performing Asset. 2)A Bank can sell agri land under Sarfaesi if it has mortgaged and turned such as Banking, Insurance etc NPA Which of the above statements are incorrect? a) 1 Only b) 2 Only c) Both 1 and 2 are correct d) Neither 1 nor 2 correct Tax revenue receipt of government of Printing, Currency Printing etc 4) Revenue generated from services Options a) 1 2 and 3 only b) 1 2 and 4 Only c) 2 3 and 4 Only d) 1 2 3 and 4 Only pP

6. Consider the following statements about Priority Sector lending (PSL) target by RBl for government in which of the following domestic scheduled commercial banks and ways? foreign banks with 20 branches and above 1) By bringing change in aggregate 1) PSL target for Agriculture is 18% of Adiusted net bank credit. 2) PSL target for Micro Enterprises is 7.5% allocation of Adiusted net bank credit 3) PSL target for Advances to weaker sections is 10% of Adjusted net bank credit. 4) By controlling credit creation in the Which of the above statements are correct? economy. a) 1 and 2 only b) 1 and 3 Only c) 2 and 3 Only d) All of the above Fiscal policy can affect the demand 2) By changing pattern of resource 3) By bringing change in the distribution of income Options - a) 1 2 and 3 only b) 1 2 and 4 Only c) 2 3 and 4 Only d) 1 2 3 and 4 Only

7. Any loan to Micro, Small and Medium enterprises comes under priority sector. MSME's are defined by termed as double financial Ministry of Micro Small and Medium enterprises as repression of banks- per investment limit in Plant and machinery. Consider 1) SLR the following statements about Micro enterprises 2) CRR 1) Micro enterprises in manufacturing sector are the 3) Priority sector lending ones in which investment in plant and machinery 4) Capital Adequacy Ratio does not exceed 25 Lakhs. 2) Micro enterprises in Service sector are the ones in which investment in plant and machinery does not a) 1 and 2 only exceed 10 Lakhs Which of the above statements are incorrect? a) 1 Only b) 2 Only c) Both 1 and 2 are correct d) Neither 1 nor 2 correct Which of the following is Norms Options b) 1 and 3 Only c) 1 and 4 Only d) 3 and 4 Only

8. Advances to which of the following will be considered under weaker sections category under Priority sector Lending? 1) Small and Marginal farmers 2) Scheduled Castes and Scheduled Tribes 3) Self Help Groups 4) Individual women beneficiaries up to Rs1 Lakh per borrower. Options a) 1 2 and 3 only b) 1 2 and 4 Only c) 2 3 and 4 Only d) 1 2 3 and 4 Only Consider the following statements about Small and Marginal farmers 1) For computation of Priority Sector Targets, RBl defines Marginal farmers as one with less than 1 hectare of land 2) For computation of Priority Sector Targets, RBl defines Small farmers as one with 1-2 hectare of land Which of the above statements are incorrect? a) 1 Only b) 2 Only c) Both 1 and 2 are correct d) Neither 1 nor 2 correct https://unacademy.com/user/AkshayDKadam fpP

9. Which of the following plan emphasized agriculture, small and cottage industry; stressed on land reforms, and decentralised participatory planning along with freedom from foreign technology? a) Bombay Plan b) People's Plan c) Gandhian Plan d) Sarvodaya Plan Which of the following plan was based on core idea of Marxist Socialism? a) Bombay Plan b) People's Plan c) Gandhian Plan d) Sarvodaya Plan https://unacademy.com/user/AkshayDKadam fppt.com