25th May Static Quiz 2021
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25th May Static Quiz 2021 for UPSC Prelims
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- Question 1 of 5
1. Question
Consider the following statements:
1. Gross value added (GVA) is a measure of the contribution to GDP made by an individual producer, industry or sector.
2. Economic growth in India is measured using GDP at factor cost.
3. Gross Domestic Product (GDP) of any nation represents the sum of gross value added (GVA) in all the sectors of that economy.
Which of the statements given above are correct?CorrectAnswer: B
Statement 2 is incorrect: Economic growth was measured as the percent rate of increase in GDP at Factor cost at Constant prices till January 2015 in India. In a major overhaul of the way India’s gross domestic product (GDP) is calculated, the Central Statistics Office (now called as NSO) adopted the international practice of GDP at market price and the Gross value addition measure to better estimate the economic activity.
IncorrectAnswer: B
Statement 2 is incorrect: Economic growth was measured as the percent rate of increase in GDP at Factor cost at Constant prices till January 2015 in India. In a major overhaul of the way India’s gross domestic product (GDP) is calculated, the Central Statistics Office (now called as NSO) adopted the international practice of GDP at market price and the Gross value addition measure to better estimate the economic activity.
- Question 2 of 5
2. Question
Consider the following statements:
1. Regressive taxes have a greater financial impact on lower-income individuals than the
wealthy.
2. Progressive tax has more of a financial impact on higher-income individuals than on low- income earners.
3. Proportional tax affects low-, middle-, and high-income earners relatively equally.
Which of the above statements is/are correct?CorrectAnswer: D
All the statements are correct.IncorrectAnswer: D
All the statements are correct. - Question 3 of 5
3. Question
Consider the following statements regarding India’s external debt:
1. India’s external debt to GDP ratio has consistently reduced during the last five years.
2. Outstanding NRI deposits are not accounted under the external debt of India.
Which of the statements given above is/are correct?CorrectAnswer: D
Statement 1 is incorrect. India’s external debt to GDP ratio has increased from 19.8% to 20.6% between FY2019 and FY2020.
Statement 2 is incorrect. Outstanding NRI deposits is the second largest constituent in India’s external debt with 130.6 billion dollars out of total 559 billion dollars.IncorrectAnswer: D
Statement 1 is incorrect. India’s external debt to GDP ratio has increased from 19.8% to 20.6% between FY2019 and FY2020.
Statement 2 is incorrect. Outstanding NRI deposits is the second largest constituent in India’s external debt with 130.6 billion dollars out of total 559 billion dollars. - Question 4 of 5
4. Question
Consider the following statements:
1. T-Bills are debt instruments that pay periodic coupons to the investors.
2. Foreign Portfolio Investors (FPIs) are not allowed to purchase the T-Bills.
Which of the statements given above is/are correct?CorrectAnswer: D
Statement 1 is incorrect: Treasury bills or T-bills, which are money market instruments, are short term debt instruments issued by the Government of India and are presently issued in three tenors, namely, 91 day, 182 day and 364 day.
Statement 2 is incorrect: Foreign Portfolio Investors (FPIs) are allowed to invest in the T-Bills subject to the limits prescribed by the RBI.IncorrectAnswer: D
Statement 1 is incorrect: Treasury bills or T-bills, which are money market instruments, are short term debt instruments issued by the Government of India and are presently issued in three tenors, namely, 91 day, 182 day and 364 day.
Statement 2 is incorrect: Foreign Portfolio Investors (FPIs) are allowed to invest in the T-Bills subject to the limits prescribed by the RBI. - Question 5 of 5
5. Question
Which of the following items are included in Non-Tax Revenue Receipts?
1. Disinvestment proceeds
2. Fees, Penalties and fines
3. Interests receipts on loans given
4. Grants in aid from foreign countries
5. Fresh government borrowings from abroad
6. Profits on investments made by governments
Select the correct answer using the code given below:CorrectAnswer: D
Non tax revenue receipts include:
1) interest receipts on account of loans by the central government,
2) dividends and profits on investments made by the government,
3) fees, Penalties and fines received by the government,
4) user charges for railways, transport, power etc.
5) Cash grants in aid from foreign countries and international organizations.IncorrectAnswer: D
Non tax revenue receipts include:
1) interest receipts on account of loans by the central government,
2) dividends and profits on investments made by the government,
3) fees, Penalties and fines received by the government,
4) user charges for railways, transport, power etc.
5) Cash grants in aid from foreign countries and international organizations.
