July 16, 2024
Which of the following is/are correct?
1 Personal income is the total income received by the individuals of a country from all sources before payment of direct taxes in a year.
2. Personal income can never be equal to the national income.
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. Bombay Plan - 15 Year Investment Plan
2. J.P. Narayan - Sarvodaya Plan
3. M.N. Roy - People’s Plan
  • (A) 1 pair only
  • (B) 2 pairs only
  • (C) All the pairs
  • (D) None of the pairs
The LEADS Report 2022 was released by?
  • (A) Ministry of Corporate Affairs
  • (B) Ministry of Commerce and Industry
  • (C) NITI Aayog
  • (D) Department of Economic Affairs 
Which among the following recently released the report titled 'Asia–Pacific Outlook 2023'?
  • (A) Organisation for Economic Co-operation and Development
  • (B) Fitch Ratings Analytics
  • (C) Asia-Pacific Economic Cooperation
  • (D) Moody’s Analytics
Which of the following statements is/are correct?
1. Externality may be defined as the cost or benefit imposed by the consumption and production activities of the individuals on the rest of the society not directly involved in these activity and towards which no payment is made.
2. The externalities arise from both production and consumption activities.
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 An internal public debt is a loan taken by the Government from the citizens or from different institutions within the country.
2. When a loan is taken from abroad or from an international organisation it is called external public debt.
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 is/are incorrect?
1. Frictional unemployment arises due to imbalance between supply of labour and demand for labour.
2. Full employment refers to a situation in which every able bodied person who is willing to work at the prevailing wage rate, is employed
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 incorrect regarding GDP deflator?
1 GDP deflator is an index of price changes of goods and services included in GDP.
2. It is a price index which is calculated by dividing the real GDP in a given year by the nominal GDP.
Select the answer using the codes below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
RBI's Modified Digital Lending Norms will come/have came into effect from?
  • (A) 1st January 2023
  • (B) 1st April 2023
  • (C) 1st December 2022
  • (D) 31st December 2022
Consider the following statements:
1 A free trade area is the region encompassing a trade bloc whose member countries have signed a free-trade agreement (FTA).
2. A common market is a group formed by countries within a geographical area to promote duty free trade and free movement of labour and capital among its members.
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
Which of the following statement(s) is/are correct?
1 The word ‘budget’ is said to have its origin from the Italian word “Bougett”.
2. The word “Bougett” refers to ‘a small leather bag’.
Select the answer using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2
Primary deficit is equal to?
  • (A) Fiscal deficit minus interest payments
  • (B) Revenue deficit minus interest payments
  • (C) Fiscal deficit plus interest payments
  • (D) Revenue deficit plus interest payments
Which of the following statement(s) is/are incorrect regarding friendshoring?
1 It is shorthand for the practice of relocating supply chains to countries where the risk of disruption from political chaos is low.
2. It is a part of the deglobalisation process.
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?
1. A tenant farmer is a farmer or farm worker who resides on land owned by a landlord.
2. According to the National Statistical Office, 17.3 percent out of the total estimated 101.98 million operational holdings in rural India were on leased lands.
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 incorrect?
1. India’s National Automobile Scrappage Policy was launched in 2022.
2. Most automobiles contain toxic metals such as lead, mercury, cadmium.
Select the answer using the codes given below:
  • (A) 1 only
  • (B) 2 only
  • (C) Both 1 and 2
  • (D) Neither 1 nor 2

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