Static Quiz 18 October 2024
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Static Quiz 18 October 2024 for UPSC Prelims
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- Question 1 of 5
1. Question
The sales tax you pay while purchasing a toothpaste is a
CorrectAns;- d) tax imposed and collected by the State Government
IncorrectAns;- d) tax imposed and collected by the State Government
- Question 2 of 5
2. Question
Expenditure method of national income accounting takes into account, which of the following expenditures?
1. Investment expenditure
2. Government expenditure on pensions and scholarship
3. Expenditure on shares and bonds
Select the correct answer using the code given below.CorrectAnswer: D
National income is measured in terms of expenditure on purchase of final goods and services produced in
the economy during an accounting year.However, government expenditure on widow pensions and scholarships are like a transfer
payments not included in accounting national income as they do not cause any value addition in
the economy.However, expenditure on shares and bonds is not included in total expenditure as these are
mere paper claims and are not related to production of final goods and services. Such
expenditure do not cause any value addition.IncorrectAnswer: D
National income is measured in terms of expenditure on purchase of final goods and services produced in
the economy during an accounting year.However, government expenditure on widow pensions and scholarships are like a transfer
payments not included in accounting national income as they do not cause any value addition in
the economy.However, expenditure on shares and bonds is not included in total expenditure as these are
mere paper claims and are not related to production of final goods and services. Such
expenditure do not cause any value addition. - Question 3 of 5
3. Question
With reference to Capital Account Convertibility, consider the following statements:
1. It refers to the freedom to convert local financial assets into foreign financial
assets and vice versa at market determined rates of exchange.
2. Presently India has full capital account convertibility.
Which of the statements given above is/are correct?CorrectAnswer: A
Presently, India has full current account convertibility. This means one can import and export goods or
receive or make payments for services rendered. However, full capital account convertibility i.e.
investments and borrowings are restricted. Hence, statement 2 is not correct.IncorrectAnswer: A
Presently, India has full current account convertibility. This means one can import and export goods or
receive or make payments for services rendered. However, full capital account convertibility i.e.
investments and borrowings are restricted. Hence, statement 2 is not correct. - Question 4 of 5
4. Question
Which of the following is levied on imported goods to offset subsidies made to producers
in the exporting country?CorrectAnswer: D
IncorrectAnswer: D
- Question 5 of 5
5. Question
In the context of banking, currency deposit ratio (cdr) refers to the ratio of
CorrectAnswer: D
IncorrectAnswer: D
