GS TEST SERIES – 10
1. With reference to Market Intervention Scheme (MIS), consider the following statements:
1. The objective of this scheme is to promote the domestic production of those food crops that India imports from abroad.
2. Under the MIS, a pre-determined quantity at a fixed Market Intervention Price (MIP) is procured by NAFED as the central agency.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
2. Which of the following forms a part of the Revenue Expenditure of the Government of India?
1. Grants given to state government for asset creation
2. Subsidies and pensions given to widows 3. Purchase of Rafale aircraft
4. Interest payment on debt incurred by the government
Select the correct answer using the code given below.
(a) 1 and 4 only
(b) 2 and 3 only
(c) 1, 2, 3 and 4
(d) 1, 2 and 4 only
3. With reference to the Marginal Standing Facility (MSF) and Statutory Liquidity Ratio (SLR), consider the following statements:
1. MSF refers to the rate at which the scheduled banks can borrow funds overnight from RBI against government securities.
2. SLR is a tool for controlling liquidity in the domestic market via manipulating bank credit.
3. MSF is always fixed above the repo rate.
Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 3 only
(d) 1, 2, and 3
4. The Bretton Woods Agreement led to the creation of which of the following Institutions?
1. World Bank
2. World Trade Organisation
3. International Monetary Fund
4. World Economic Forum
Select the correct answer using the code given below.
(a) 1 and 2 only
(b) 2 and 4 only
(c) 1 and 3 only
(d) 3 and 4 only
5. Consider the following statements regarding the unorganized sector in India:
1. In the unorganized sector, the maximum number of workers employed in an enterprise is fifty.
2. The term ‘unorganized worker’ is not defined in India under any act of government.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
6. With reference to Web 5.0, consider the following statements:
1. Web 5.0 envisions an Internet without a threat of censorship from governments or big tech.
2. Web 5.0 will allow users to own their identity and data.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
7. Consider the following statements regarding Green Box Subsidies under the World Trade Organization:
1. Under WTO, Green Box subsidies can be increased without any financial limitation.
2. Subsidies provided under India’s Public Distribution System (PDS) come under Green Box Subsidies.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
8. Which of the following forms a part of the internal debt of India?
1. Securities issued to international financial institutions
2. Dated securities
3. Market Stabilization Scheme bonds
4. NRI deposits
Select the correct answer from the code given below.
(a) 1 and 4 only
(b) 3 and 4 only
(c) 1, 2 and 3 only
(d) 2 and 3 only
9. If the Reserve Bank of India (RBI) increases the bank rate, what effects it could possibly have on the Indian economy?
1. Loan taken by the commercial banks becomes cheaper.
2. It decreases the money supply in the economy.
Select the correct answer using the code given below.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
10. Consider the following statements regarding Currency Deposit Ratio (CDR):
1. It is the ratio of money held by the public in currency to that they hold in bank deposits.
2. It reflects people’s preference for liquidity.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
11. With reference to the Fiscal Responsibility and Budget Management(FRBM) Act, consider the following statements:
1. The FRBM Act bans the purchase of primary issues of the Central Government securities by the RBI.
2. The rules under the FRBM Act aim to eliminate the fiscal deficit of the Central Government.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
12. Which of the following statements is correct regarding the IMF’s Special Drawing Rights (SDR)?
(a) SDR is the official currency of the International Monetary Fund (IMF).
(b) Value of the SDR is based on a basket of four currencies.
(c) SDRs can be held by private entities or individuals.
(d) The value of the SDR is determined daily based on market exchange rates.
13. Consider the following statements regarding the approaches used to measure unemployment:
1. Usual status approach to measure unemployment uses seven days preceding the date of the survey as the reference period.
2. Current daily status approach to measure unemployment uses each day of the seven days preceding the date of the survey as the reference period.
3. The usual status approach to measure unemployment fails to capture the short term fluctuations in employment.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 and 3 only
(c) 1, 2 and 3
(d) 1 and 2 only
14. With reference to tribunals and high courts, consider the following statements:
1. While high courts are established by the Constitution, tribunals can be established by Acts of Parliament only.
2. Like high courts, tribunals consist of judicial members only.
3. Both tribunals and high courts have the power to use all the enacted laws before making a decision.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 and 3 only
(c) 3 only
(d) None
15. Consider the following statements regarding the local area banks:
1. They are set up to enable the mobilization of rural savings by local institutions.
2. The priority sector lending targets are applicable to local area banks.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
16. Consider the following statements with reference to National e-Vidhan Application (NeVA):
1. It is a work-flow system deployed on NIC Cloud, MeghRaj.
2. It is a mission mode project to digitize and make the functioning of State Legislatures paperless.
Which of the statements given above are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
17. With reference to India-Gulf relations, consider the following statements:
1. Out of India’s total import of crude oil in last 15 years, the share of Gulf countries has been more than 80%.
2. In last 5 years, Saudi Arabia has been India’s largest trading partner in the region.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
18. In the context of “Deficit” in the Annual Financial Statement, consider the following statements:
1. Effective Revenue Deficit signifies that amount of capital receipts that are being used for actual consumption expenditure of the government.
2. Gross Primary Deficit refers to the difference between the Gross fiscal deficit and the Net interest liabilities.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
19. He sat on a piece of rock for 13 continuous days when challenged about the authenticity of the Abhyangas he had written. His message about a casteless society and his denial of rituals had led to a social movement. He is credited with starting the Wari pilgrimage. This is the most likely description of who among the following?
(a) Chaitanya Mahaprabhu
(b) Vallabhacharya
(c) Tukaram
(d) Tulsidas
20. India is a member of which of the following multilateral export control regimes?
1. Wassenaar Arrangement
2. Nuclear Suppliers Group
3. Australia Group
4. Missile Technology Control Regime Select the correct answer using the code given below.
(a) 1, 3 and 4 only
(b) 2 and 4 only
(c) 1 and 4 only
(d) 1 and 3 only
21. While calculating the Gross Domestic Product (GDP) by expenditure method, which of the following factors are taken into account?
1. Final household consumption expenditure
2. Expenditure on intermediate goods
3. Final capital expenditure
4. Government expenditure on unemployment allowance
Select the correct answer using the code given below.
(a) 1 and 4 only
(b) 1, 3 and 4 only
(c) 1 and 3 only
(d) 2, 3 and 4 only
22. With reference to World Bank Group, consider the following pairs:
Institutions :Objectives
1. International Finance Corporation : Reduce poverty by providing zero to low-interest loans.
2. International Development Association : Encourage growth of the private sector in developing countries.
3. Multilateral Investment Guarantee Agency : Promote foreign direct investment into developing
countries.
Which of the pairs given above is/are correctly matched?
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 3 only
23. Which of the following statements about the calculation of Gross Domestic Product (GDP), is not correct?
(a) The GDP measures the aggregate production of final goods and services taking place within the domestic territory.
(b) It does not take into account the aggregate production of final goods and services produced by foreign national within the domestic territory.
(c) In GDP calculation, negative externalities are not taken into account.
(d) In GDP calculation, the aggregate production of final goods produced by Indian citizen in the foreign territory is not included.
24. Which of the following statements is/ are not correct regarding the Green Revolution in India?
1. Green Revolution started in India in the early 1950s.
2. It was marked by an increase in the use of High-Yielding Variety (HYV) seeds.
3. The HYV seeds significantly lowered the use of irrigation in India
Select the correct answer using the code given below.
(a) 1 and 3 only
(b) 2 only
(c) 1, 2 and 3
(d) 3 only
25. With reference to the GDP Deflator, consider the following statements:
1. It is the ratio of the nominal GDP to the real GDP.
2. The weights of goods used in calculating GDP deflator differ according to their production level.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
26. In the context of the Indian economy, consider the following statements:
1. The unemployment rate is defined as the percentage of unemployed persons in the labor force.
2. The worker population ratio is defined as the percentage of total workers to the total population.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
27. Consider the following statements regarding the liquid nano urea:
1. It helps in minimizing the environmental footprint.
2. It has about 10,000 times more surface area to volume size in comparison to the conventional granular urea.
3. It is indigenously developed and patented by Indian Farmers Fertilizer Cooperative Limited.
Which of the statements given above is/are correct?
(a) 1, 2 and 3
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1 only
28. Which of the following can be the potential traits of a Contractionary Fiscal Policy?
1. Decrease in tax rates of vehicles in order to increase the sale
2. Reduction in subsidies of LPG cylinders 3. Increase in government expenditure on infrastructure development
Select the correct answer from the code given below.
(a) 2 only
(b) 1, 2 and 3
(c) 1 and 3 only
(d) 3 only
29. With reference to the Cash Reserve Ratio (CRR), consider the following statements:
1. It is a percentage of deposits which a commercial bank must keep with itself in reserves.
2. Non-Bank Financial Corporations (NBFCs) are outside the purview of this reserve requirement.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
30. A rise in the price of foreign exchange (a fall in the value of rupee) would likely result in which one of the following?
(a) Decrease the cost (in terms of rupees) of purchasing a foreign good.
(b) Increase the cost (in terms of rupees) of purchasing a foreign good.
(c) Decrease in India’s exports with other things remaining constant.
(d) Both (b) and (c)
31. With reference to Consumer Price Index (CPI), consider the following statements:
1. The CPI takes into account the prices of goods only.
2. It includes the prices of imported goods. Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
32. Which of the following can be accounted as Capital Receipts in the Annual Financial Statement?
1. Loans received from foreign governments
2. Borrowings by the government through the sale of Treasury Bills
3. Collection and appropriation of direct tax
4. Recovery of loans and advances
Select the correct answer from the code given below.
(a) 2 and 4 only
(b) 1 and 3 only
(c) 1, 2 and 4 only
(d) 1, 2, 3 and 4
33. Which one of the following best describes the term ‘money multiplier’?
(a) It is the demand for money for carrying out transactions.
(b) It is the ratio of total money supply to the stock of high powered money in an economy.
(c) It is the fraction of the total deposits which commercial banks keep as reserves.
(d) It is the demand for money as a store of wealth.
34. Often seen in the news, Strait of Malacca connects
(a) Red Sea and Arabian Sea.
(b) Andaman Sea and South China Sea.
(c) South China Sea and East China Sea.
(d) Bay of Bengal and Arabian Sea.
35. In the context of minerals in India, which of the following is/are classified as major minerals?
1. Coal
2. Uranium
3. Gold
4. Iron ore
Select the correct answer using the code given below.
(a) 2, 3 and 4 only
(b) 2 and 4 only
(c) 1, 2, 3 and 4
(d) 3 only
36. Rakesh was manual labour in a factory that used to manufacture shoes. The area where the factory was located was bought by a foreign entity that specialized in shoe manufacturing. The machines for the manufacture and design of shoes were imported from the United States of America and manufacturing plants were set up in the area. It was observed that special knowledge of computers and Numerical competency was required to operate those machines which Rakesh lacked and thus he was fired from his job leading to unemployment.
What kind of unemployment is depicted in the passage given above?
(a) Structural Unemployment
(b) Frictional Unemployment
(c) Seasonal Unemployment
(d) Disguised Unemployment
37. Which of the following best describes ‘Casualisation of Workforce’?
(a) It is the process wherein there is a continuous and gradual shift of the workforce from informal to formal sector.
(b) It is a long-term process that involves bringing companies under the regulatory regime of government
(c) It refers to the increase in number of self-employed persons as percentage of workforce.
(d) It is the process of moving from self employment and regular salaried employment to casual wage.
38. Which one of the following is used as the official classification criteria for Micro, Small, and Medium Enterprises (MSME) in India?
(a) Number of workers employed
(b) Share in exports of total manufactured goods
(c) Investment and annual turnover
(d) Number of units of electricity consumed
39. Which of the following statements is correct regarding the Indus Water Treaty (IWT)?
(a) It was signed between India, Pakistan and China.
(b) Under this, waters of three rivers namely Ravi, Sutlej and Jhelum have been allocated exclusively to India.
(c) The World Bank is a guarantor to the treaty.
(d) It requires parties to meet at least once in five years.
40. Foreign Portfolio Investment (FPI) by any single investor group cannot exceed X% of the equity of an Indian company, beyond which it will be treated as Foreign Direct Investment (FDI). The value of X is
(a) 10
(b) 20
(c) 25
(d) 50
41. Consider the following statements regarding Balance of Payments (BoP):
1. The BoP of a country comprises transactions between residents and non residents during a period.
2. A country having a balance of payments equilibrium will experience an increase in foreign exchange reserves.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
42. In the context of poverty categorization in India, which of the following best describes ‘churning poor’?
(a) People who are always poor.
(b) People with high annual income but low standard of living.
(c) People who regularly move in and out of poverty.
(d) Wealthy people with low literacy.
43. The cases of monkeypox recently have been confirmed, with Europe being the worst affected. In this context, which of the following statements is correct about the monkeypox?
(a) A person with monkeypox remains infectious for life even after treatment.
(b) Sexual activity is the sole mode of its transmission.
(c) Anyone can get or pass on monkeypox including rodents and primates.
(d) It is caused by the same Variola virus which causes smallpox.
44. Soil Health Cards (SHC) are printed report cards issued to farmers once in three years indicating the status of the soil. Which of the following are expected consequences of Soil Health Cards?
1. Balanced application of fertilizers
2. Reduced import bill
3. Increased financial strain on the government
4. Better land management
Select the correct answer using the code given below.
(a) 1 and 2 only
(b) 1, 2 and 4 only
(c) 3 and 4 only
(d) 1, 2, 3 and 4
45. With reference to the Hybrid Annuity Model (HAM) model for Public-Private Partnership in highway construction, consider the following statements:
1. As per the model, the government will contribute 60% of the project cost in the first five years through annual payments (annuity).
2. Under HAM, a road developer constructs the road and he/she is allowed to recover his/her investment through toll collection.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
46. Consider the following statements regarding patent rights in India:
1. Patent is a statutory right for an invention granted to the patentee by the Government.
2. Patent is granted for 50 years from the date of filing of an application.
3. An invention relating to a process cannot be patented in India.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1 and 2 only
47. Consider the following statements with reference to voting in the Rajya Sabha elections:
1. Open ballot voting is done in the elections to the Council of States.
2. Members of the Legislative Assembly (MLAs) belonging to a political party can show their ballot papers after marking their vote to the authorised agent of that party only.
3. Independent MLAs can show their marked ballot paper to the authorised agent of any party.
Which of the statements given above are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
48. Consider the following statements regarding the Neobanks:
1. They are the fintech firms, with only a digital presence.
2. They do not have a bank license of their own.
3. They offer debit cards.
Which of the statements given above is/are correct?
(a) 1 and 2 only
(b) 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
49. With reference to the different systems of taxation, consider the following statements:
1. The percentage tax rate increases proportionally with the increase in the income under the Proportional Taxation Regime.
2. A proportional income tax makes disposable income as well as consumer spending more sensitive to fluctuations in GDP.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
50. Consider the following statements regarding a socialist economy:
1. In a socialist economy, the government decides what goods are to be produced .
2. Distribution of resources under socialism is supposed to be based on the purchasing power of the people.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
51. Consider the following statements with reference to Leadership for Industry Transition (LeadIT):
1. It is a voluntary initiative launched by India and the United Kingdom at the UN Climate Action Summit in 2020.
2. Its Secretariat is hosted by the World Economic Forum.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
52. Consider the following statements regarding the Indian Agriculture sector since the 1991 reforms:
1. Percentage share of public investment in the agriculture sector has increased steadily.
2. There has been a shift from production for the domestic market towards production for the export market.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
53. With reference to monetized deficit as a method to finance debt, consider the following statements:
1. Monetized deficit is that part of the Government deficit which is financed solely by borrowing from the Reserve Bank of India.
2. Monetized deficit includes short-term finance instruments as well as long-term securities.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
54. Which of the following can be regarded as the quantitative tools of the Reserve Bank of India, to control money supply in the economy?
1. Changing the cash reserve ratio
2. Open Market Operations
3. Moral suasion
4. Changing the Bank Rate
Select the correct answer using the code given below.
(a) 1 and 4 only
(b) 2 and 3 only
(c) 1, 2 and 4 only
(d) 1, 2, 3 and 4
55. Consider the following statements regarding the Flexible Exchange Rate System:
1. In this system, the exchange rate is determined by the market forces of demand and supply.
2. At present, India follows a completely flexible exchange rate system.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
56. Consider the following statements regarding the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS):
1. The TRIPS agreement applies to all WTO members.
2. The agreement allows compulsory licensing and government use of a patent without the authorization of its owner.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
57. Consider the following statements with reference to the convertibility of currencies:
1. Convertibility refers to the ability to convert domestic currency into foreign currencies and vice versa.
2. Currently, India has partial convertibility for both current and capital accounts.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
58. Which of the following are functions of the Central Bank (RBI) in the Indian economy?
1. It issues the currency of the country.
2. It controls the money supply of the country.
3. It is the custodian of the foreign exchange reserves of the economy.
4. It acts as a bank to the banking system in the economy.
Select the correct answer using the code given below.
(a) 1, 2 and 3 only
(b) 1, 3 and 4 only
(c) 2 and 4 only
(d) 1, 2, 3 and 4
59. Consider the following statements regarding the open market operations done by the Reserve Bank of India (RBI):
1. It refers to buying and selling of the bonds issued by the Government in the open market.
2. Purchase of government securities from the bond market by the RBI, increases the high powered money in the economy.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
60. With reference to Inflation-Indexed Bonds, Consider the following statements:
1. The Inflation-Indexed Bonds provide protection only to principal and not to interest payments.
2. Inflation-Indexed Bonds are treated as G-Secs and are thus eligible to be kept as part of the Statutory Liquidity Ratio requirements of banks.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
61. With reference to the National Disposable Income, consider the following statements:
1. It comprises Net National Product at market price and net other current transfers from the rest of the world.
2. It gives an idea about the maximum amount of goods and services that the domestic economy has at its disposal.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
62. Consider the following statements in the context of public goods:
1. Consumption of public goods by an individual does not reduce the amount available for consumption of the same good for another individual.
2. Public Provision goods are those goods that are produced directly by the government.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
63. Which of the following is not correct regarding human capital?
(a) Human capital is intangible and cannot be easily sold in the market.
(b) Unlike physical capital, human capital does not depreciate with time.
(c) Human capital benefits not only the owner but also the society in general.
(d) Human capital is not perfectly mobile between countries.
64. Which one of the following is not a component of the ‘Sagarmala’ initiative launched by the Government of India?
(a) Encouraging coastal economic development by promoting port based Special Economic Zones
(b) Efficient evacuation system by improving port-hinterland linkages
(c) Deep Ocean Survey and Exploration
(d) Modernisation of port infrastructure
65. Consider the following pairs:
Country : Important reason for being in the news recently
1.Turkey : UN changed name of the country
2.Sudan : Tribal clashes
3.Zimbabwe : High inflation
4.Cambodia : China building foreign outpost
How many pairs given above are correctly matched?
(a) Only one pair
(b) Only two pair
(c) Only three pair
(d) All four pairs
66. Consider the following statements:
1. Until the outbreak of the First World War, all currencies were pegged to the value of gold.
2. Post-independence the Indian rupee was pegged to the pound sterling till 1975.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
67. Consider the following statements regarding the Small Finance Banks in India:
1. They are registered as public limited companies under the Companies Act, 2013.
2. They accept deposits and lend to un served and underserved sections.
3. Like commercial banks, these banks have to maintain both Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR).
Which of the statements given above are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
68. With reference to the current regulations of crypto assets in India, consider the following statements:
1. Consumers availing such assets are protected under the Consumer Protection Act, 2019.
2. They are defined as securities under the Securities Contracts (Regulation) Act, 1956.
3. They are regulated by RBI under the Foreign Exchange Management Act, 1999.
Which of the statements given above is/are correct?
(a) 3 only
(b) 1 and 3 only
(c) 2 only
(d) None
69. Which one of the following institutions releases the Environmental Performance Index (EPI)?
(a) United Nations Environment Programme
(b) World Economic Forum
(c) United Nations Development Programme
(d) World Wide Fund for Nature
70. With reference to aggregate monetary resources, consider the following statements:
1. M3 is known as narrow money.
2. M1 is the least liquid while M4 is the most liquid money measure.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
71. In the context of core inflation, consider the following statements:
1. It takes into account changes in the price of food and energy.
2. When core inflation rises, the Reserve Bank of India (RBI) increases its key policy rates to suck excess liquidity from the market;
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both1 and 2
(d) Neither 1 nor 2
72. The Agriculture Ministry recently unveiled India’s first Covid-19 vaccine for animals. In this context, consider the following statements regarding Ancovax:
1. It can protect animals against the Delta and Omicron variants of SARS-CoV-2.
2. It is only for the cattle and dogs.
3. It is an inactivated vaccine developed using an infectious part of the Delta variant.
Which of the statements given above is/are correct?
(a) 1 only
(b) 1 and 3 only
(c) 1 and 2 only
(d) 2 and 3 only
73. In the context of the Free Trade Agreement (FTA), the “negative list” includes
(a) the list of items which are not permitted to be exported.
(b) list of products on which duty is to be reduced.
(c) items of negative externalities like sin goods.
(d) items on which no concessions would be allowed.
74. Consider the following statements regarding Agricultural Produce Market Committees (APMCs) in India:
1. These are statutory committees formed by the state governments.
2. These committees oversee the trading of both notified agricultural products as well as livestock products.
3. The committees prohibit the involvement of any kind of intermediaries or commissioning agents in the trade between the farmers and buyers.
Which of the statements given above is/are correct?
(a) 1 only
(b) 1 and 2 only
(c) 1 and 3 only
(d) 2 and 3 only
75. Which one of the following statements best describes Ricardian Equivalence?
(a) The market forces change and alter the exchange rates in order to maintain equilibrium.
(b) Taxation and borrowing are equivalent means of financing expenditure.
(c) Increase in borrowing by the government will lead to decreased savings by the consumer.
(d) Rate of inflation is directly proportional to the rate of unemployment in the economy.
76. Which of the following can be classified as short-term external debt of the country?
1. Foreign Institutional Investors’ (FII) investment in corporate securities
2. Investment in Treasury Bills by foreign Central Bank
3. Export Credits
4. External commercial borrowings
Select the correct answer using the code given below.
(a) 1, 2, 3 and 4
(b) 3 and 4 only
(c) 1 and 2 only
(d) 1 and 4 only
77. Consider the following statements with reference to Saint Kabir:
1. He belonged to the Nirguna tradition of the Bhakti Movement.
2. He dismissed the sacred authority of religious books like Vedas and the Quran.
3. He sung compositions known as padas and sabdas.
Which of the statements given above are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
78. With reference to Treasury Bills (T-Bills), which one of the following statements is correct?
(a) They are short term capital market instruments.
(b) In India, T- Bills are issued only by the central government.
(c) T- Bills are considered as assets of the government.
(d) Foreign Portfolio Investment (FPI) is not allowed in Treasury Bills.
79. Consider the following statements regarding the Stockholm+50 conference:
1. It is an international meeting convened by the United Nations General Assembly.
2. Stockholm conference was first proposed by Sweden in 1968.
3. Theme of the conference is “a healthy planet for prosperity of all – our responsibility, our opportunity”.
Which of the statements given above is/are correct?
(a) 1 only
(b) 1 and 3 only
(c) 2 only
(d) 1, 2 and 3
80. Consider the following statements regarding the Infrastructure Investment Trust (InvITs):
1. These are mutual fund-like institutions that enable investments into the infrastructure sector by pooling small sums of money from individual investors.
2. InvITs are regulated by the Securities and Exchange Board of India (SEBI).
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
81. With reference to depreciation, consider the following statements:
1. Depreciation is an annual allowance for wear and tear of a capital good.
2. Depreciation does not take into account unexpected destruction of capital goods.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
82. Which of the following state-level taxes have been subsumed under Goods and Service Tax (GST)?
1. Luxury tax
2. Sales tax
3. Stamp duty
4. Octroi
Select the correct answer using the code given below.
(a) 1 and 3 only
(b) 2, 3 and 4 only
(c) 1, 2, 3 and 4
(d) 1, 2 and 4 only
83. Consider the following statements:
1. Saririka stupas are the stupas erected over the bodily relics of Lord Buddha.
2. Lord Buddha’s relics from his funeral pyre were collected and given to King Ashoka.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
84. Which of the following statements regarding ‘Pradhan Mantri Suraksha Bima Yojana’ is/are correct?
1. It is a life insurance scheme renewable from year to year offering coverage for death due to any reason.
2. Individuals in the age group of 18-70 years having a savings bank or a post office account are entitled to enroll under the scheme.
3. The scheme is delivered through banks including regional rural banks as well as cooperative banks.
Select the correct answer using the code given below.
(a) 1 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
85. Which of the following can be patented under the Indian Patent laws?
(a) An invention relating to atomic energy
(b) Surgical methods
(c) Plants and animals
(d) Microorganisms
86. Which of the following is/are considered as assets of a commercial bank?
1. Reserves of commercial banks with the Central Bank
2. Deposits of people with the commercial bank
3. Loans given to the public by the commercial bank
Select the correct answer using the code given below.
(a) 1 and 2 only
(b) 2 only
(c) 1 and 3 only
(d) 2 and 3 only
87. Consider the following statements with reference to the BrahMos Missile:
1. It has been developed under the Integrated Guided Missile Development Programme.
2. It is a two-stage missile with a solid propellant booster engine.
3. It operates on ‘Fire and Forget Principle’, adopting varieties of flights on its way to the target.
Which of the statements given above are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
88. Consider the following statements with reference to Fishing Cat:
1. In India, fishing cats are found in the mangrove forests of the Sundarbans only.
2. It is the state animal of West Bengal.
3. It is listed as endangered on the IUCN Red List of Species.
Which of the statements given above are correct?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
89. This five-year plan aimed at developing the Indian economy on socialist lines. It also wanted to put India on a path toward industrialization. The chief architect of this plan was P.C. Mahalanobis.
Which of the following Five Year Plans has been described in the passage given above?
(a) First five-year plan
(b) Second five-year plan
(c) Fourth five-year plan
(d) Sixth five-year plan
90. With reference to the Monetary Policy Committee (MPC), consider the following statements:
1. The committee was set up with the responsibility for price stability and inflation targeting.
2. Its meetings are chaired by the Finance Minister.
3. The committee is constituted under the Reserve Bank of India Act, 1934.
Which of the statements given above are correct?
(a) 1 and 2 only
(b) 1 and 3 only
(c) 2 and 3 only
(d) 1, 2, and 3
91. The Ministry of Commerce has identified 12 Champion Service Sectors. Which of the following are included under the 12 sectors?
1. Tourism and Hospitality
2. Transport and Logistics
3. Environmental Services
4. Biotechnology and pharmaceuticals
Select the correct answer using the code given below.
(a) 1 and 3 only
(b) 1, 2, 3 and 4
(c) 2 and 4 only
(d) 1, 2 and 3 only
92. This biodiverse wetland situated in Iraq, south of the capital Baghdad, has disappeared largely due to human activity and climate change. It was formed over limestone rock and studded with gypsum formations and has no inlet or outlet. This is the most likely description of:
(a) Lake Urmia
(b) Lake Sawa
(c) Lake Tiberias
(d) Sea of Galilee
93. EASE 5.0 ‘Common Reforms Agenda’ sometimes mentioned in the news recently has been developed for
(a) Railways
(b) Public Sector Banks
(c) Micro, Small and Medium Enterprises
(d) Digital payments
94. With reference to the different types of diabetes, consider the following statements:
1. In type 1 diabetes, the body’s insulin production either goes down or the cells become resistant to the insulin.
2. In type 2 diabetes, the pancreas completely stops producing insulin.
3. In diabetic ketoacidosis, the human body is not able to absorb glucose for energy and starts breaking down fats instead.
4. If a person with type 2 diabetes stops taking their insulin, they die within weeks.
Which of the statements given above is/are correct?
(a) 2 and 4 only
(b) 2, 3 and 4 only
(c) 3 only
(d) 1, 2 and 4 only
95. In order to calculate Personal Income (PI), which of the following is required to be subtracted from the National Income (NI)?
1. Undistributed Profit
2. Net interest payments made by households
3. Corporate tax
4. Transfer payment to the household from the government and firms
Select the correct answer using the code given below.
(a) 1 and 4 only
(b) 1, 2 and 3 only
(c) 2, 3 and 4 only
(d) 1, 2, 3, and 4
96. Which of the following fall under the capital account of the Balance of Payments?
1. Intergovernmental loans
2. Private remittances
3. Gifts from abroad
4. Foreign Institutional Investment
Select the correct answer using the code given below.
(a) 1 and 2 only
(b) 2 and 3 only
(c) 3 and 4 only
(d) 1 and 4 only
97. Consider the following statements regarding the Current Account of Balance of Payments:
1. A country with a surplus on the current account necessarily borrows from other countries.
2. A surplus on the current account necessarily implies that the country has a surplus balance of trade.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
98. With reference to the term ‘spread’ in banking system, which one of the following statements is correct?
(a) It is the rate charged by the central bank for lending funds to commercial banks.
(b) It is the rate at which the central bank of a country lends money to commercial banks in the event of any shortfall of funds.
(c) It is the difference between the interest rates of borrowers and depositors in a bank.
(d) It is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves with the central bank.
99. With reference to the factor cost, consider the following statements:
1. Factor cost includes the payments to the factors of production only.
2. Factor cost does not include any tax.
Which of the statements given above is/are not correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
100. In the context of the 1991 Balance of Payment crisis, which of the following was not one of the steps taken under the New Economic Policy (NEP)?
(a) Lowering of tax rates for better compliance of the taxpayers
(b) Revaluation (upward adjustment) of Indian rupee against foreign currencies
(c) Establishment of domestic and foreign private sector banks in India
(d) Industrial licensing was abolished for almost all except certain product categories