September 29, 2023

Indian Economy Quiz: Day 21

Which of the following is/are correct regarding All-India Quarterly Establishment Based Employment Survey (AQEES)?
1. It is released by the Labour Bureau.
2. Its purpose is to provide quarterly updates about the employment, in both organised and unorganised segments of 9 sectors.
Select the correct answer using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
How many of the below given pair(s) is/are correctly matched?
1. P.J. Nayak Committee - Governance issues of banks
2. Nachiket Mor Committee - Financial Services
3. Urijit Patel Committee - Monetary Policy Framework
  • (A) 1 pair only
  • (B) 2 pairs only
  • (C) All the pairs
  • (D) None of the pairs
Which of the following is incorrect regarding Tokenisation?
  • (A) It refers to the replacement of actual card (credit/debit) details with an alternate code called the ‘token’.
  • (B) The token requestor can store Primary Account Number details.
  • (C) Tokenised card transactions are considered safe.
  • (D) None of the above
This plan proposed to achieve two main objectives: 'removal of poverty' (Garibi Hatao) and 'attainment of self reliance’ However, due to high inflation, cost calculations for the Plan proved to be completely wrong and the original public sector outlay had to be revised upwards. Identify the plan?
  • (A) 9th five year plan
  • (B) 3rd five year plan
  • (C) 10th five year plan
  • (D) 5th five year plan
Which of the following is/are incorrect regarding Impossible Trinity or the Trilemma?
1 According to economists, any economy can choose to pursue only two out of the three policy options simultaneously in the long-run.
2.. The idea was proposed independently by Canadian economist Robert Mundell and British economist Marcus Fleming in the early 1960s.
Select the correct 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 The Government has extended the Foreign Trade Policy 2015-20 till March 2024.
2. India’s major trading partners like USA, the EU are still out of India’s FTA agenda.
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 are correct regarding National Data Repository (NDR)?
1 It is a government sponsored data repository for recordkeeping of Exploration and Production (E&P) data.
2. It is under the Ministry of New and Renewable Energy.
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/are part of the National Logistics Policy?
1. Integration of Digital System
2. Unified Logistics Interface Platform
3. Ease of Logistics
Select the answer using the codes below:
  • (A) 1 and 3 only
  • (B) 2 and 3 only
  • (C) 1 and 2 only
  • (D) All of the above
‘Poverty and Shared Prosperity’ report was released by which of the following?
  • (A) UN Development Programme
  • (B) Organisation for Economic Cooperation and Development
  • (C) World Trade Organization
  • (D) World Bank
Which of the following is incorrect regarding the National Investment and Infrastructure Fund (NIIF)?
  • (A) It is an Indian-government backed entity established to provide long-term capital to the country’s infrastructure sector.
  • (B) It invests across Infrastructure and Growth Equity.
  • (C) “India Japan Fund” is the NIIF’s first bilateral fund.
  • (D) None of the above
Which of the following statement(s) is/are correct?
1 Legal tender is a currency that is declared legal by the government and used for payment of the debt.
2. Commodity money has intrinsic money and is derived from a material.
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 not correct regarding the Prime Minister’s Development Initiative for North East Region (PM-DevINE)?
  • (A) It is implemented by Ministry of Development of North Eastern Region
  • (B) It was announced in the Union Budget 2022-23 to address development gaps in the North Eastern Region (NER).
  • (C) It is a Centrally Sponsored Scheme.
  • (D) None of the above 
Which of the following statement(s) is/are correct?
1 Runaway inflation is also known as structural inflation.
2. CPI-combined is the measure of headline inflation in India.
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 statement(s) is/are correct regarding write-off loans?
1 Writing off a loan essentially means it will no longer be counted as an asset.
2. After write-off, banks are supposed to continue their efforts to recover the loan using various options.
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 statement(s) is/are correct regarding Wholesale Price Index?
1 Nodal Office for Compilation and release of WPI is the Office of Economic Adviser.
2. Services are not covered under WPI.
Select the answer using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2 
According to this measure, a person is said to be employed for a week even if he is employed only for a day during the week
  • (A) Usual status
  • (B) Current weekly status
  • (C) Current daily status
  • (D) Current yearly status
Which of the following creates confidence in the taxpayers cost of collection of taxes and increases economic welfare because it tends to avoid all economic waste?
  • (A) Canon of equality
  • (B) Canon of certainty
  • (C) Canon of economy
  • (D) Canon of convenience
Which of the following statement(s) is/are correct regarding taxes?
1 Excise duty, customs duty, value added tax are examples of indirect tax.
. When liability to pay a tax is on one person and the burden of that tax shifts on some other person, this type of tax is called a direct tax.
Select the answer using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) None of the above
“The General Theory of Employment, Interest and Money” was written by?
  • (A) Adam Smith
  • (B) John Maynard Keynes
  • (C) Amartya Sen
  • (D) None of the above
Which of the following statement(s) is/are correct?
  • (A) Consumer goods are those goods, which satisfy the want of consumers directly.
  • (B) Public goods are non-rivalrous and non-excludable.
  • (C) Capital goods don’t transform in the production process.
  • (D) All of the above

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