Quiz | Jatin Verma’s IAS Academy
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Q1

An economy can be termed as 'Open Economy' if 

1. The country's trade-to-GDP ratio is always 50 per cent of the GDP.

2. The country's Investors have the opportunity to choose between domestic and foreign assets.

Select the correct answer using the code given below:

 

Q2

 Which of the following transaction is/are counted in the Current Account of a country?

1. Trade in services 

2. Trade in financial assets

3. Trade in goods

4. Transfer payments

Select the correct answer using the code given below:

 

Q3

The term 'Revaluation of rupee' implies

Q4

Which one of the following best describes the term 'Open Market Operations'?

Q5

Consider the following statements:

1. Physical capital is more mobile than Human capital.

2. Human capital is tangible and Physical capital is intangible.

3. Human capital is sold in the market whereas Physical capital is not.

Which of the statements given above is/are correct?

 

Q6

Consider the following statements:

1. The Primary Deficit is the difference between the fiscal deficit of the current year and the interest paid on the previous borrowings.

2. A shrinking primary deficit indicates progress towards fiscal health.

Which of the statements given above is/are correct?

 

Q7

Consider the following pairs:

1. 1st Five Year Plan:    Mahalanobis model

2. 2nd Five Year Plan:   Harrod-domar model

3. 11th Five Year Plan:  Faster and more inclusive growth 

Which of the pairs given above is/are correctly matched?

 

Q8

Which of the following can be attributed to the widespread poverty in India?

1. Unequal distribution of resources.

2. High growth rate of population.

3. Destruction of traditional handicrafts during British rule.

4. Low growth rate of income.

Select the correct answer using the code given below:

 

Q1.

An economy can be termed as 'Open Economy' if 

1. The country's trade-to-GDP ratio is always 50 per cent of the GDP.

2. The country's Investors have the opportunity to choose between domestic and foreign assets.

Select the correct answer using the code given below:

 

a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Q2.

 Which of the following transaction is/are counted in the Current Account of a country?

1. Trade in services 

2. Trade in financial assets

3. Trade in goods

4. Transfer payments

Select the correct answer using the code given below:

 

a) 2 and 3 only
b) 1 and 2 only
c) 1, 3 and 4 only
d) 1, 2, 3 and 4
Q3.

The term 'Revaluation of rupee' implies

a) The value of rupee has increased in the international market due to high demand.
b) The value of rupee has been increased in a fixed exchange rate system.
c) The rupee has been made acceptable against gold in the international market.
d) The value of rupee has decreased in the international market due to low demand.
Q4.

Which one of the following best describes the term 'Open Market Operations'?

a) Allowing the commercial banks to lend money without applying the method of Marginal Cost of Funds based Lending Rate.
b) Acquisition of new customers by commercial banks through competitive marketing.
c) Buying and selling of government securities by the Central Bank.
d) Allowing the banks to determine the rate of interest for various small savings schemes by the Reserve Bank of India.
Q5.

Consider the following statements:

1. Physical capital is more mobile than Human capital.

2. Human capital is tangible and Physical capital is intangible.

3. Human capital is sold in the market whereas Physical capital is not.

Which of the statements given above is/are correct?

 

a) 3 only
b) 1 only
c) 1 and 2 only
d) 2 and 3 only
Q6.

Consider the following statements:

1. The Primary Deficit is the difference between the fiscal deficit of the current year and the interest paid on the previous borrowings.

2. A shrinking primary deficit indicates progress towards fiscal health.

Which of the statements given above is/are correct?

 

a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Q7.

Consider the following pairs:

1. 1st Five Year Plan:    Mahalanobis model

2. 2nd Five Year Plan:   Harrod-domar model

3. 11th Five Year Plan:  Faster and more inclusive growth 

Which of the pairs given above is/are correctly matched?

 

a) 3 only
b) 1 and 2 only
c) 2 and 3 only
d) 1, 2 and 3
Q8.

Which of the following can be attributed to the widespread poverty in India?

1. Unequal distribution of resources.

2. High growth rate of population.

3. Destruction of traditional handicrafts during British rule.

4. Low growth rate of income.

Select the correct answer using the code given below:

 

a) 2 and 4 only
b) 1, 3 and 4 only
c) 2 and 3 only
d) 1, 2, 3 and 4