Static Quiz 03 April 2024
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Static Quiz 03 April 2024 for UPSC Prelims
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- Question 1 of 5
1. Question
In the economic context, what does Potential GDP refer to?
CorrectAnswer: B
Explanation: Potential GDP represents the maximum sustainable output an economy can produce at a constant inflation rate without triggering inflationary pressures.IncorrectAnswer: B
Explanation: Potential GDP represents the maximum sustainable output an economy can produce at a constant inflation rate without triggering inflationary pressures. - Question 2 of 5
2. Question
Which of the following are potential benefits of currency devaluation?
1. Reduced cost of imports.
2. Strengthened purchasing power of the currency.
3. Decreased burden of sovereign debt.
Which statement(s) is/are correct?CorrectAnswer: C
Explanation: Devaluation can lead to cheaper exports, potentially improving the current account deficit. Moreover, a weaker currency can reduce the effective cost of servicing fixed sovereign debts. However, devaluation can also cause inflation and make imports more expensive.IncorrectAnswer: C
Explanation: Devaluation can lead to cheaper exports, potentially improving the current account deficit. Moreover, a weaker currency can reduce the effective cost of servicing fixed sovereign debts. However, devaluation can also cause inflation and make imports more expensive. - Question 3 of 5
3. Question
Who are the beneficiaries under the National Food Security Act, 2013?
1. Every child up to fourteen years old.
2. Persons with Disabilities (PwDs).
3. Pregnant women and lactating mothers employed by the Central Government.
Which statement(s) is/are correct?CorrectAnswer: C
Explanation: The National Food Security Act, 2013, primarily targets ensuring food security to specific groups including children up to 14 years, pregnant women, and lactating mothers.
IncorrectAnswer: C
Explanation: The National Food Security Act, 2013, primarily targets ensuring food security to specific groups including children up to 14 years, pregnant women, and lactating mothers.
- Question 4 of 5
4. Question
Regarding the Indian economy, consider the following:
1. Floating rate bonds have variable coupon rates.
2. Zero-Coupon Bonds are short-term bonds with interest issued by Scheduled Commercial Banks.
Which statement(s) is/are correct?CorrectAnswer: A
Explanation: Floating rate bonds indeed carry a variable coupon rate. However, Zero-Coupon Bonds are issued at a discount, have no periodic interest payments, and are redeemed at par, making statement 2 incorrect.IncorrectAnswer: A
Explanation: Floating rate bonds indeed carry a variable coupon rate. However, Zero-Coupon Bonds are issued at a discount, have no periodic interest payments, and are redeemed at par, making statement 2 incorrect. - Question 5 of 5
5. Question
Concerning the Consumer Price Index-Industrial Workers (CPI-IW), consider the statements:
1. CPI-IW excludes services consumed by industrial workers.
2. CPI-IW determines the dearness allowance for employees in public and private sectors.
3. CPI-IW is annually published by the Office of the Economic Adviser under DPIIT.
Which statement(s) is/are correct?CorrectAnswer: B
Explanation: CPI-IW measures price changes over time for a fixed basket of goods and selected services consumed by industrial workers. It is not exclusively published annually by the Office of the Economic Adviser under DPIIT; instead, it’s compiled and maintained monthly by the Labour Bureau.IncorrectAnswer: B
Explanation: CPI-IW measures price changes over time for a fixed basket of goods and selected services consumed by industrial workers. It is not exclusively published annually by the Office of the Economic Adviser under DPIIT; instead, it’s compiled and maintained monthly by the Labour Bureau.
