Static Quiz 05 September 2024
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Static Quiz 05 September 2024 for UPSC Prelims
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- Question 1 of 5
1. Question
Consider the following statements:
1. The economic wealth of a country is solely decided by the possession of natural resources.
2. Countries that possess lesser or no natural resources cannot have a wealthy economy.
Which of the statements given above is/are correct?CorrectAnswer: D
The economic wealth, or well-being, of a country does not necessarily depend on the mere possession
of resources; In fact the resource rich Africa and Latin America have some of the poorest countries
in the world, whereas many prosperous countries have scarcely any natural wealth. So Statement
1 is not correctThe essential point is how even a minimum availability of natural resources are used in generating
a flow of production and how, as a consequence, countries with less natural resources can generate
income and wealth. So, Statement 2 is not correctIncorrectAnswer: D
The economic wealth, or well-being, of a country does not necessarily depend on the mere possession
of resources; In fact the resource rich Africa and Latin America have some of the poorest countries
in the world, whereas many prosperous countries have scarcely any natural wealth. So Statement
1 is not correctThe essential point is how even a minimum availability of natural resources are used in generating
a flow of production and how, as a consequence, countries with less natural resources can generate
income and wealth. So, Statement 2 is not correct - Question 2 of 5
2. Question
Which one of the following is the correct definition of “unemployment rate” in an economy?
CorrectAnswer: D
IncorrectAnswer: D
- Question 3 of 5
3. Question
Consider the following statements about “capital goods”:
1. These are goods that make the production of other goods feasible, yet they don’t get
transformed in the process.
2. These are final goods, but they are not final goods to be ultimately consumed.
Which of the statements given above is/are correct?CorrectAnswer: C
IncorrectAnswer: C
- Question 4 of 5
4. Question
Arrange the following in the increasing order of their liquidity:
1. Cash in hand
2. Gold
3. Demand deposits
4. Land
Select the correct answer using the code given below.CorrectAnswer: C
IncorrectAnswer: C
- Question 5 of 5
5. Question
Consider the following statements about the “Statutory Liquidity Ratio” (SLR):
1. It is a proportion of Net Demand and Time Liabilities that banks have to maintain in the form
of Securities, Gold, etc.
2. The RBI can penalize the banks for failing to maintain the mandated SLR.
Which of the statements given above is/are correct?CorrectAnswer: C
IncorrectAnswer: C
