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Economics and Current Affairs Day 1

  1. Which of the following is/are features of an economic depression?
  1. Abnormally large increases in unemployment.
  2. Comparatively higher inflation rates.
  3. Extremely low aggregate demand.

Select the correct answer using the code given below.

  1. 1 only
  2. 1 and 2 only
  3. 1 and 3 only
  4. 1 ,2  and 3

 

  1. Consider the following statements regarding Anti-dumping duties
  1. They are imposed by the importing countries to protect the domestic industries
  2. Duties are imposed when the price of the imported good is lower than the domestic price of the good in the importing country

Which among the above statements is/are true?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. None of the above

 

  1. An IT employee who quit his well-paying job to dedicate himself to a full-time preparation of civil service has cracked the examination after a couple of years.The unemployment experienced by him in the meantime can be categorized under which of the following types of unemployment?
  1. Disguised Unemployment.
  2. Structural Unemployment.
  3. Frictional Unemployment
  4. Cyclical unemployment

4.A situation in an economy when inflation and unemployment both are at higher levels is called

  1. Skewflation
  2. Stagflation
  3. Reflation
  4. Hyperinflation

 

  1. Consider the following statements regarding the impact and incidence of Taxes
  1. The incidence of tax refers to the immediate burden of the tax or those who bear first, the responsibility of paying them.
  2. In GST, the impact of tax and incidence of tax fall on the same person.

Which of the above statements is/are true?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2
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  1. Consider the following statements regarding Gini coefficient:
  1. It shows the level of inequality in a country.
  2. It is possible for a wealthy country and poor country to have the same value of Gini coefficient.
  3. Its value ranges between 0 and 1 and a  Value of 1 shows perfect equality in the country.

Which of the above statements is/are NOT true?

  1. 3 only
  2. 2 only
  3. 1 and 3
  4. None of the above
  1. Consider the following statements regarding inclusive growth
  1. Inclusive growth basically means making sure everyone is included in growth, regardless of their economic class, gender, sex, disability and religion
  2. Gross Domestic Product (GDP) is an indicator of the level of inclusive growth achieved by a country.

Select the correct answer using the code given below.

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2
  1. Consider the following statements
  1. Production taxes can be imposed even if the products are not produced.
  2. Product taxes are paid by the producer independent of the quantity of production.

Which of the above statements is/are true?

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

 

  1. As per the law of diminishing marginal utility:
  1. The satisfaction derived from consumption is independent of units consumed.
  2. Total utility of consumption is always a constant value.
  3. The satisfaction derived from consumption increases as the number of units consumed increases.
  4. The satisfaction derived from consumption will rise at a falling rate as units of consumption increases.

 

  1. Proportional taxation can be best defined as:
  1. A tax system that takes a larger percentage of high-income earners than it does from low-income individuals.
  2. A tax system that takes a larger percentage of income from low-income earners than from high-income earners.
  3. A  tax system where the same percentage of tax is levied from all taxpayers, regardless of their income.
  4. None of the above

 

  1. What do you understand by the phrase Urja Kanjur?
  1. A newly found natural gas basin near the Ganga plains of Easter India
  2. A Tibetan Buddhist Text.
  3. A technique used by the traditional Tibetans in developing brass vessels
  4. None of the Above

 

  1. Which of the following statements is/are true regarding Darwaza Band Initiative?
  1. It was initiated by the Ministry of Drinking Water and Sanitation to promote usage of toilets.
  2. It is supported by the World Bank.

Select the correct answer using the codes given below.

  1. 1 only
  2. 2 only
  3. Both 1 and 2
  4. Neither 1 nor 2

 

  1. Recently the government has launched Skill for Life, Save a Life’ initiative to promote skill development in the health sector. Which of the following would be the possible outcome of the initiative?
  1. It is part of a larger plan and program for ensuring Universal Health Coverage.
  2. It could provide new employment opportunities in the rural regions for the youths
  3. Access to Aids and Assisted-Living Device will improve

Select the correct answer using the codes given below

  1. 1 and 2
  2. 2 and 3
  3. 1 and 3
  4. 1, 2 and 3

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  1. Which of the following is the objective of ‘Vatsalya – Maatri Amrit Kosh’?
  1. To provide financial and physical assistance to older women especially widowed women.
  2. To create a National Human Milk Bank and Lactation Counselling Centre.
  3. To provide medical insurance for the retired personnel.
  4. To create an environment for women to invest in MSMEs

 

  1. Consider the following statements regarding SATH Program.
  1. SATH aims to identify and build three future ‘role model’ states for health systems.
  2. It is launched by the NITI AYOG in association with Ministry of Ayush
  3. Cooperative federalism is a pillar of SATH Program.

Which of the above statements is/are true?

  1. 1 and 2
  2. 2 and 3
  3. 1 and 3
  4. 1, 2 and 3

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