June 23, 2024
Consider the following statements?
1. Real GDP is calculated at current price.
2. Nominal GDP is calculated at constant price.
3. For cross-country comparisons Real GDP is better than nominal GDP.
4. The ratio of Nominal GDP and real GDP is called GDP deflator.
Select the correct statement(s) using the codes given below:
  • (A) 1 and 3 only
  • (B) 2 and 4 only
  • (C) 3 and 4 only
  • (D) 2 and 3 only
How many of the below given pair(s) are correctly matched?
1. Primary function of money - Measure of Value
2. Fiat money -  Backed by any precious commodity
3. Secondary function of money - Transfer of Value
  • (A) 1 pair only
  • (B) 1 pair only
  • (C) All the pairs
  • (D) None of the pairs
Consider the following statements regarding balance of payments:
1. The current account also includes monetary gifts or transfer payments to and from other nations.
2. The balance of invisibles is a part of the capital account.
Select the incorrect statement(s) using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) None of the above
Which of the following statement(s) is/are correct?
  • (A) Monetary policy is concerned with the management of interest rates and the total supply of money in circulation.
  • (B) Fiscal policy estimates taxation and government spending.
  • (C) In India, the Union finance minister formulates the fiscal policy.
  • (D) All of the above
Which of the following statement is incorrect regarding the Human Development Report (HDR)?
  • (A) Human Development Report (HDR) is released by the International Monetary Fund.
  • (B) For the first time in its history the global HDI value has declined two years in a row, erasing the gains of the preceding five years.
  • (C) In HDI, India is significantly behind the world average.
  • (D) Both (a) and (b)
Consider the following statements :
1. International economic transactions that are called autonomous are independent of the state of balance of payments (BoP).
2. Autonomous transactions are called ‘above the line’ items in the BoP.
Select the correct statement(s) using the codes below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Which of the following statement(s) is/are not correct?
1. A flexible exchange rate is a "hands off," non-intervening policy with no explicit government actions.
2. When imports increase, the demand for foreign exchange will increase.
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 of the following is least likely to be a benefit accruing out of a cashless economy?
  • (A) Reduced or no counterfeit currency
  • (B) Easier payments across the country
  • (C) Increased economic equality
  • (D) None of the above
Consider the following statements regarding Non-Banking Financial Companies :
1. NBFCs are regulated under Companies Act 2013.
2. They are not required to maintain the reserve ratios unlike commercial banks.
Select the correct statement(s) 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. GDP deflector shows the changes in the average price levels in the economy
2. GDP deflator is also known as the implicit price deflator
Which of the above statement(s) is/are correct?
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2

© 2024 Civilstap Himachal Design & Development