Static Quiz 26 July 2023
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Static Quiz 26 July 2023 for UPSC Prelims
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- Question 1 of 5
1. Question
If external debt vis-s-vis internal debt in the government’s total debt increases, which of the following would not be its likely impact on the Indian economy?
CorrectAnswer: B
IncorrectAnswer: B
- Question 2 of 5
2. Question
If there is a growth of revenue deficit as a percentage of fiscal deficit, what could this possibly indicate?
1. Creation of physical assets by the Government.
2. Increase in the subsidies distributed in the country.
Select the correct option using the code given below:CorrectAnswer: B
Statement 1 is incorrect – As Fiscal Deficit = Revenue Deficit + Capital Expenditure – Capital Receipts
excluding borrowings, an increase in revenue deficit with fiscal deficit being constant will lead to
decrease in capital expenditure. This will lead to less assets creation by the government which might lead
to less infrastructure development.IncorrectAnswer: B
Statement 1 is incorrect – As Fiscal Deficit = Revenue Deficit + Capital Expenditure – Capital Receipts
excluding borrowings, an increase in revenue deficit with fiscal deficit being constant will lead to
decrease in capital expenditure. This will lead to less assets creation by the government which might lead
to less infrastructure development. - Question 3 of 5
3. Question
Which of the following are the factors influencing economic growth?
1. Capital formation
2. Technological Progress
3. Human Resources Development
4. Social Attitudes
5. Social Overhead Capital
6. Entrepreneurship
Select the correct answer using the code given below:CorrectAnswer: D
IncorrectAnswer: D
- Question 4 of 5
4. Question
Which of the following statements regarding economic growth and economic development is/ are correct?
1. Economic development brings only quantitative changes while economic growth brings qualitative changes in the
economy.
2. Economic growth has a narrower scope as compared to economic development.
Select the correct answer using the code given below:CorrectAnswer: B
Statement 1 is incorrect: Economic Growth is concerned with the changes in the actual output of an
economy and is concerned with quantitative issues like change in the GDP and per capita income in the
country.
Economic Development on the other hand, is concerned with qualitative changes like income, savings
and investment. It includes progressive changes in socioeconomic structure of the country (institutional
and technological changes), growth of human capital, decrease in inequality figures, and structural
changes that improve the quality of life of the population. It is about changes in fundamental factors of
supply and in the structure of demand, leading to a rise in the net national product of a country in the
long run.IncorrectAnswer: B
Statement 1 is incorrect: Economic Growth is concerned with the changes in the actual output of an
economy and is concerned with quantitative issues like change in the GDP and per capita income in the
country.
Economic Development on the other hand, is concerned with qualitative changes like income, savings
and investment. It includes progressive changes in socioeconomic structure of the country (institutional
and technological changes), growth of human capital, decrease in inequality figures, and structural
changes that improve the quality of life of the population. It is about changes in fundamental factors of
supply and in the structure of demand, leading to a rise in the net national product of a country in the
long run. - Question 5 of 5
5. Question
Consider the following statements with reference to the Capital Gains Taxes in India:
1. When a property is received on inheritance, it is not taxable for the receiver.
2. Agricultural land in Rural areas in India is not considered a capital asset.
Which of the statements given above is/are correct?CorrectAnswer: C
Both the statements are correctIncorrectAnswer: C
Both the statements are correct
