16 December Static Quiz 2021
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16th December 2021 – Static Quiz for UPSC Prelims
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- Question 1 of 5
1. Question
Duties that are imposed in order to counter the negative impact of import subsidies to protect domestic producers are called?
CorrectDuties that are imposed in order to counter the negative impact of import subsidies to protect domestic producers are called countervailing duties
IncorrectDuties that are imposed in order to counter the negative impact of import subsidies to protect domestic producers are called countervailing duties
- Question 2 of 5
2. Question
Consider the following statements about Deflation:
1) Deflation is a decrease in the general price level of all goods and services.
2) It occurs when the inflation rate falls below 0%.
Which of the following statements is/are correct?CorrectIn economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0% (a negative inflation rate). This should not be confused with disinflation, a slow-down in the inflation rate (i.e., when inflation declines to lower levels).
Deflation shows a general decline in prices of goods. It is not necessary that prices of all goods must have declined.
IncorrectIn economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0% (a negative inflation rate). This should not be confused with disinflation, a slow-down in the inflation rate (i.e., when inflation declines to lower levels).
Deflation shows a general decline in prices of goods. It is not necessary that prices of all goods must have declined.
- Question 3 of 5
3. Question
The Y H Malegam Committee is related to?
CorrectY H Malegam Committee: To monitor bad loans, rising cases of frauds, audits
IncorrectY H Malegam Committee: To monitor bad loans, rising cases of frauds, audits
- Question 4 of 5
4. Question
Which among the following is/are major objectives of New Economic Policy of 1991?
1) All commercial banks were allowed to fix their interest rates.
2) Convert the economy into a market economy
3) Enhance the participation of private players in all sectors of the economy.
Select the correct answer using the code given below.CorrectObjectives of New Economic Policy 1991
Enter into the field of ‘globalisation’ and make the economy more market-oriented.
Reduce the inflation rate and rectify imbalances in payment.
Increase the growth rate of the economy and create enough foreign exchange reserves.
Stabilise the economy and convert the economy into a market economy by the removal of unwanted restrictions.
Allow the international flow of goods, capital, services, technology, human resources, etc. without too many restrictions.
Enhance the participation of private players in all sectors of the economy. For this, the reserved sectors for the government were reduced to just 3.All commercial banks were now free to fix their interest rates. This was previously done by the RBI.
IncorrectObjectives of New Economic Policy 1991
Enter into the field of ‘globalisation’ and make the economy more market-oriented.
Reduce the inflation rate and rectify imbalances in payment.
Increase the growth rate of the economy and create enough foreign exchange reserves.
Stabilise the economy and convert the economy into a market economy by the removal of unwanted restrictions.
Allow the international flow of goods, capital, services, technology, human resources, etc. without too many restrictions.
Enhance the participation of private players in all sectors of the economy. For this, the reserved sectors for the government were reduced to just 3.All commercial banks were now free to fix their interest rates. This was previously done by the RBI.
- Question 5 of 5
5. Question
With reference to poverty estimation in India, arrange the following Committees in chronological order?
1) Lakdawala Committee
2) Rangarajan Committee
3) Alagh Committee
Select the correct answer using the code given below.CorrectAlagh Committee (1979)
Lakdawala Committee (1993)
C Rangarajan Committee (2012)
IncorrectAlagh Committee (1979)
Lakdawala Committee (1993)
C Rangarajan Committee (2012)
