30th April Static Quiz 2021
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30th April Static Quiz 2021 for UPSC Prelims
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- Question 1 of 5
1. Question
Which among the following statements is correct about Real GDP?
CorrectAnswer: B
IncorrectAnswer: B
- Question 2 of 5
2. Question
Consider the following statements regarding capital and current account of Balance of
Payments:
1. The current account has a direct effect on the flow of income in a country.
2. The capital account influences the volume of assets which a country holds.
Which of the statements given above is/are correct?CorrectAnswer: C
Both the statements are correct.IncorrectAnswer: C
Both the statements are correct. - Question 3 of 5
3. Question
Consider the following statements regarding Gross Value Added (GVA) :
1. GVA at basic prices includes both taxes and production subsidies available on the commodity.
2. GVA at factor cost does not include any production subsidies.
Which of the statement given above is/are correct?CorrectAnswer: D
o GVA at basic prices will include production taxes and exclude production subsidies available on the
commodity. Hence, statement 1 is not correct.
o However, We can easily arrived at the concept of GVA at factor cost by subtracting the value of any taxes on production and adding subsidies on production from GVA at basic price. Hence, GVA at factor cost includes production subsidies and excludes taxes. Hence, statement 2 is also not correct.IncorrectAnswer: D
o GVA at basic prices will include production taxes and exclude production subsidies available on the
commodity. Hence, statement 1 is not correct.
o However, We can easily arrived at the concept of GVA at factor cost by subtracting the value of any taxes on production and adding subsidies on production from GVA at basic price. Hence, GVA at factor cost includes production subsidies and excludes taxes. Hence, statement 2 is also not correct. - Question 4 of 5
4. Question
With reference to Domestic and National Income, consider the following statements:
1. Unlike the domestic income, national income includes net factor income from abroad.
2. Unlike the national income, domestic income generated only with in the domestic territory of a country.
Which of the statements given above is/are correct?CorrectSolution: C
IncorrectSolution: C
- Question 5 of 5
5. Question
In an economy, Liquidity shortage refers to a situation when
CorrectAnswer: D
IncorrectAnswer: D
