IASbaba’s Daily Prelims Test [Day 46]

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 IASbaba’s Daily Prelims Test [Day 46]

Topic – Economics, Environment, S&T and Current Affairs

1. India’s Foreign exchange reserves now crossed 350 billion US dollars. Which of the following are parts of foreign exchange reserve?

1. Foreign currency assets.
2. Gold reserves.
3. Special drawing rights (SDRs).
4. Reserve Position in the IMF.

Select the correct code from below.

1. 1, 2 and 3 only
2. 2, 3 and 4 only
3. 1, 3 and 4 only
4. All the above

2. Indian Rupee loses its value when

1. Indian imports are increasing, without corresponding rise in export.
2. FDI or FIIs inflows.
3. More Indians travels abroad.

Select the correct code from below.

1. 1 and 2 only
2. 2 and 3 only
3. 1 and 3 only
4. All the above

3. Consider the following statements regarding ‘Capital account convertibility’.

1. India has full current account convertibility but not full capital account convertibility.
2. Capital account convertibility  beneficial for a country because inflow of foreign investment increases
3. Capital account convertibility brings stability in the economy.

Which of the above statements is/are correct?

1. 2 only
2. 1 and 2 only
3. 1 and 3 only
4. All the above

4. Consider the following statements regarding effective exchange rates.

1. ‘The nominal effective exchange rate’ (NEER) is the weighted geometric average of the bilateral nominal exchange rates of the home currency in terms of foreign currencies.
2. ‘The real effective exchange rate (REER)’ is the weighted geometric average of nominal exchange rates of the home currency in terms of the foreign currencies adjusted for relative price differential.

Which of the above statements is/are correct?

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

5. Consider the following statements regarding recently launched foreign trade policy (FTP) 2015-2020.

1. Trade facilitation and enhancing the ease of doing business are the other major focus areas of new FTP.
2. FTP2015-20introduced a new scheme called ‘Merchandise Exports from India Scheme (MEIS)’ for export of specified goods to specified markets.
3. Units located in SEZs are excluded from Merchandise Exports from India Scheme (MEIS).

Which of the above statements are correct?

1. 1 and 2 only
2. 1 and 3 only
3. 2 and 3 only
4. All the above

6. International crude oil price has taken a huge plunge in recent time. Which of the following is/are correct regarding impact of fall in oil price on Indian economy?

1. Shrinking of trade deficit.
2. Reduced subsidy burden on the government.
3. Helped in controlling the inflation.
4. Reduced remittance by Indian employees in oil producing countries.

Select the correct code from below.

1. 1, 2 and 3 only
2. 2, 3 and 4 only
3. 1, 3 and 4 only
4. All the above

7. Which one of the following is not a Current account transaction?

1. Imports payables
2. Exports receivables
3. Net invisible
4. External Commercial Borrowings

8. ‘Dumping’ is an unfair trade practice which can have a distortive effect on international trade. In this regard consider the following statements.

1. If the export price is lower than the normal value, it constitutes dumping.
2. Import of cheap products through illegal trade channels like smuggling also considered as dumping.

Which of the above statement is/are correct?

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

9. Implementation of the GAAR has been a matter of public debate. Which of the following statements are correct regarding GAAR?

1. It gives Indian authorities the right to scrutinize and tax transactions which they believe are structured solely to avoid taxes.
2. GAAR will apply only when tax benefit exceeds Rs 3 crore.
3. GAAR will not apply to non-resident investors in FIIs.

Select the correct code from below.

1. 1 and 2 only
2. 1 and 3 only
3. 2 and 3 only
4. All the above

10. Consider the following statement regarding India’s external debt.

1. The increase in external debt during 2014-15 was on account of rise in commercial borrowings and non-resident deposits.
2. The US dollar denominated debt is the largest component of India’s external debt with a share of 58.3 per cent.

Which of the above statements is/are correct?

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

11. Consider the following

1. Rhizomes
2. Bulb
3. Pitcher
4. Tendrils
5. Corm

Of these, Modified Stems are

1. 1, 2, 3 and 4
2. 2, 3 and 5
3. 1, 2 and 5
4. 1, 3 and 4

12. India is a party to the Ramsar Convention and has declared many areas as Ramsar Sites.
Consider the following w.r.t it

1. Swamps
2. Peatland
3. Fish Ponds
4. Rice Paddies
5. Mangroves
6. Coral Reefs

Which of them comes under WETLAND?

1. 1, 2, 4 and 5
2. 1, 2, 3, 5 and 6
3. 1, 2, 3, 4, 5 and 6
4. 1, 3, 4 and 5

13. Consider the following

1. Methane
2. Carbon Dioxide
3. Sulphur Dioxide
4. Nitrous Oxide

Select the ones released from WETLAND?

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

14. Which of the following are associated with diabetes mellitus, a common disease in adults? 

1. Higher sugar level in blood
2. Lower sugar level in blood
3. Lower insulin level in blood
4. Higher insulin level in blood

Select the correct answer by using the codes given below

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

15. The “Red Data List” published by the International Union for Conservation of Nature and Natural Resources (IUCN) contain lists of 

1. Information on plants, fungi and animals
2. Information on plants and animals only
3. It divides species into Six categories

Select the correct answer using the codes given below

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

16. Consider the following

            Subtropical gyre                                                                          Name of the gyre

1. North Atlantic                                                                                   Columbus
2. South Atlantic                                                                                   Majid
3. North Pacific                                                                                     Turtle
4. South Pacific                                                                                     Heyerdhal
5. Indian Ocean                                                                                    Navigator

Which of the above are correctly matched?

1. 1, 2, 3, 4 and 5
2. 3, 4 and 5
3. 1, 3 and 4
4. 1, 2 and 5

17. Consider the statements

1. Tropic of Cancer passes through this state
2. Myanmar in the East, Bangladesh in the West
3. Phawngpui Blue Mountain National Park
4. Dhaleshwari river flows through the state

Select the correct code

1. Mizoram
2. Meghalaya
3. Nagaland
4. Manipur

18. Consider the statements

1. The 5000-year-old 626-hectare archaeological site of The Sacred City of Caral-Supe is situated here
2. Recently a trio-mud statuette was discovered in the archaeological site.
3. It borders Columbia to the North and Chile to the South

Select the correct code

1. Bolivia
2. Ecuador
3. Peru
4. Brazil

19. Consider the following

1. Shikhara
2. Mandapa
3. Vahan
4. Gopuram

Which of the above are common between Nagara and Dravida Temple style?

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

20. Consider the following statements

1. It’s a Mountain Range in Central Asia where China, Russia, Mongolia and Kazakhstan come together.
2. Rivers like Irtysh and Ob have their headwaters here
3. It means, The Gold Mountain in Mongolian

Select the correct code

1. Pamir Mountains
2. Altai Mountains
3. Kunlun Mountains
4. Tian Shan Mountains

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