July 12, 2024
With reference to the Indian economy, consider the following statements:
1 Core inflation provides a sense of how the broader economy is doing.
2. Super core inflation is calculated by removing gold and silver price inflation from core inflation.
3. Inflation being sticky essentially means that inflation is taking longer than expected to fall.
Which of the statements given below is/are correct?
  • (A) 1 and 3 only
  • (B) 2 and 3 only
  • (C) 1 and 2 only
  • (D) 1, 2 and 3
With reference to the Certificate of deposit, consider the following statements:
1. It was first introduced in 1989 on the recommendation of the Vaghul Committee. They are issued by Commercial Banks which are freely transferable from one party to another.
2. It is essentially a money market instrument.
Which of the statements given below is/are correct?
  • (A) 1 and 3 only
  • (B) 2 and 3 only
  • (C) 1 and 2 only
  • (D) 1, 2 and 3
Which of the following is/are correct regarding GST?
1 The Goods and Services Tax (GST) Council recently approved the creation of a national tribunal mechanism with state benches for the redressal of disputes.
2. GST Council is a statutory body under the GST Act.
Select the answer using the codes:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Advance digital skills are related to which of the following?
  • (A) Cloud architecture
  • (B) Application development
  • (C) Machine learning
  • (D) All of the above
Which of the following statements is/are correct regarding Unicorns?
1 The valuation of unicorns is not expressly linked to their current financial performance, but largely based on their growth potential.
2. Unicorns are privately held, venture-capital backed startups with a valuation of $1 billion.
Select the answer using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Which one of the following is not correct regarding Consumer Price Index?
  • (A) The base year for it is 2011-12
  • (B) The RBI uses it for targeting inflation in the country.
  • (C) It is an indicator comprising of goods but not services. 
  • (D) The National Statistical Office releases the index.
Consider the following statements:
1 UPI supports both Person-to-Person (P2P) and Person-to-Merchant (P2M) payments.
2. UPI has collaborated with PayNow which is a fast payment system in Singapore.
Select the correct statements using the code given below:
  • (A)  1 only
  • (B) 2 only
  • (C) Both 1 and 2 
  • (D) Neither 1 nor 2
Which of the following is incorrect regarding the FLDG structure?
  • (A) It is a lending model.
  • (B) It is a lending model. It is a credit-risk sharing agreement, between a fintech and a regulated entity.
  • (C) The RBI has banned the usage of the FLDG model in India
  • (D) None of the above
This Plan had set ‘monitorable targets’ for few key indicators (11) of development besides 8 % growth target. The targets included reduction in gender gaps in literacy and wage rate, reduction in Infant & maternal mortality rates, improvement in literacy, access to potable drinking water cleaning of major polluted rivers, etc. Which plan is being referred to here?
  • (A) Tenth Five year Plan
  • (B) Fifth Five year Plan
  • (C) Ninth Five year Plan
  • (D) Twenty Five year Plan
Consider the following statements regarding the Emissions Trading Scheme (ETS)?
1 The Bureau of Energy Efficiency (BEE) would be the nodal coordinator of the scheme.
2. Under it the companies would not be required to cut carbon emissions in absolute terms.
Which of the above given statement(s) is/are incorrect?
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor
Which of the following statement(s) is/are incorrect?
1 The Giffen good or inferior good is an exception to the law of demand.
2. When the price of an inferior good falls, the poor will buy less and vice versa.
Select the answer using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Consider the following statements:
1 Law of Demand explains the direction of change in demand due to change in the price.
2 Demand for a commodity is said to be “Elastic” when the quantity demanded increases by a large amount due to a little fall in the price.
Which of the above given statement(s) is/are correct?
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Consider the following statements:
1. Payment made to others for the purchase of factors of production is known as Explicit costs.
2. It includes, wages, payment for raw material, rent for the building, interest for capital invested, expenditure on transport and advertisement other expenses like license fee.
Which of the above given statement(s) is/are correct?
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Consider the following statements:
1 Oligopoly is a market situation in which there are a few firms selling homogeneous or differentiated products.
2. The oligopolistic firms do not change their prices due to the fear of rivals’ reaction.
Which of the above given statement(s) is/are correct?
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Consider the following statements:
1 The Net National Product (NNP) is considered as a true measure of national output.
2. Purchasing power parity allows us to estimate what exchange between two currencies is needed to express the accurate purchasing power of the two currencies in the respective countries.
Select the correct statement(s) using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) None of the above

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