IASbaba’s 60 Day Plan- Prelims Test 2017 Economics and Current Affairs [Day 9]

Hello Friends

So, here we are with the 9th Day of 60 Days Plan. It is the third edition of 60 Days program but seems like the first one because of the excitement involved everywhere, including us 🙂

We are equally excited and pumped. Our Team is working hard to make you realize your dream. Do not take it insincerely and let us down. Your faith and participation has to be in sync with the amount of hard work and effort we do.

Let us pledge to make it a big game changer (better than last year) in the next 60 days!

Importance of Self – Tracking: Learning from Last Year

Last year, aspirants used to comment their answers in the comment box on daily basis. There were huge participation in discussion. Putting answers in comment box has been very effective to self track yourself after updating the score. In the end you can cross check your performance through disqus profile.

It was highly effective in the last edition of 60 Days that propelled aspirants to monitor their performance and learn through discussion. Let you solve these questions with full honesty and write your result in the comment box. Interact with peers to know your mistakes.

The importance of this initiative stands time bound and aggressive reverse engineering to learn the concepts. Many of you must be busy with your own strategy but let us tell you honestly that in the last two months, it is very important to revise and consolidate your learning. Just reading won’t suffice.

So, take out few hours from your schedule and make it a revision exercise.

How you can make the best use of it?

Be honest to your effort and do not start competing with XYZ aspirants here just for the sake of marks. It is more important for you to introspect and check your learning than focusing on others. Try to answer the questions in 20 minutes only. 

Do not get into negative feeling that I don’t have enough knowledge to answer these questions. Feel like you are taking the real exam. What would be your response then?

The same will be replicated in UPSC exam. Here, you get marks only and nothing else matters. So make effort to know the answers of all questions. Do not cheat 😛

Baba’s Gyan for REVISION

Many of you, almost all, asks about effective revision strategy! Can there be any?

Let us tell you something Baba does 😀 

You guys study a lot and there is no issue with the hard work that has been put in. But when it comes to input-output comparison, your performance is questionable.

What to do?

Just do this for a Week: Go to bed before stipulated time of your sleep, at least 1 hour before. Close your eyes and try to relax your mind. You should attain full comfort and calmness.

Do this on the First Day: Imagine the full story of a recent movie that you have watched. Try to recollect from starting to end. See, whether you are able to depict the clear picture or not!

Now, do the same for everything you learnt from morning specially the ones you struggled with. Since it is fresh, most of the things should flow into your mind smoothly. Check what is your recollecting capacity.

For example, if you prepared Polity Day 2: Topics- Try to collect all important concepts and learning of the day.

Trust us, this exercise if done with sincerity will give you immense confidence as well as boost your performance. There is no ideal time for revision and there cannot be any specific date put for it, as commonly done.

This will always expose your weaknesses the very same day and if you tend to forget something, can always get back to consolidate and cement it.

REPEAT IT FOR A WEEK & SEE THE MAGIC 😀 

Must to Do: Read the detailed article regarding Micro Analysis Matrix and follow the guidelines- Click Here

Try to hold your nerves and learn to control the temptation. This is very important art to learn and implement!

Are you ready? Let’s start

[Day 9]: ECONOMICS & CURRENT AFFAIRS 

ARCHIVES

Q.1) Intensity of Unemployment is calculated using?

1. Usual Principal Status
2. Current Weekly Status.
3. Current Daily Status
4. All of the above

Q.2) Which of the following Unemployment cannot be eliminated?

1. Disguised Unemployment.
2. Cyclical unemployment
3. Under employment
4. Natural Unemployment.

Q.3) A perfectly competitive market has

1. Firms that set their own prices.
2. Only one seller.
3. Many buyers and sellers.
4. Only one buyer

Q.4) The demand for which of the following is likely to be the most price inelastic?

1. Salt.
2. Smart phones.
3. Luxury cars.
4. Airline tickets.

Q.5) Consider the Following statements with reference to GDP and GNI

1. In a perfectly closed economy GDP = GNI.
2. GNI for any country is always greater than GDP

Which of the above statements is/are correct?

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

Q.6) Consider the following statements about the New National Income series.

1. Base year has been shifted to 2011-12.
2. GDP at market price will be used in place of GDP at factor price.

Which of the above statements is/are correct?

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

Q.7) The highest contribution to the Gross Domestic Savings comes from?

1. Private Corporate Sector.
2. Public Sector.
3. Households.
4. Agriculture sector.

Q.8) Which of the following items does not come under the tertiary sector (Service Sector) in India?

1. Hotels.
2. transport.
3. Water Supply.
4. Public Administration.

Q.9) The Final value of all the Goods and Services produced by a country’s nationals is called?

1. Gross Domestic Product.
2. Gross National Product.
3. Gross Capital Formation.
4. Net National Product.

Q.10) Disguised Unemployment generally means

1. Large number of people remain unemployed
2. Marginal productivity of labour is zero
3. Productivity of workers is low
4. Unskilled workers do not find jobs.

Q.11) Consider the following statements with reference to the Multi-Dimensional Poverty Index.

1. It uses 10 indicators to compute the Index.
2. It measures the level of achievement using the 10 indicators.
3. It measures the level of deprivation using the 10 indicators.

Which of the above statements is/are correct?

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

Q.12) which of the following statements with respect to Human Development Index report is/are incorrect?

1. It ranks the Countries based on health, education and standard of living.
2. Standard of living is calculated using GDP of the country.
3. India comes under “Low Human development” group.

Select the correct answer using the codes given below.

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

Q.13) Law of demand shows relation between:

1. Income and price of commodity.
2. Price and quantity of a commodity
3. Income and quantity demanded.
4. Quantity demanded and quantity supplied.

Q.14) If elasticity of demand is very low it shows that the commodity is:

1. A necessity
2. A luxury
3. Has little impact on the household budget.
4. Sensitive to price change.

Q.15) Which of the following indices is not published by UNDP?

1. Human Development index
2. Physical Quality of life index
3. Inequality adjusted HDI
4. Gender Development Index.

Q.16) Karamay Declaration is associated with which of the following countries?

1. China and Taiwan
2. China and Pakistan
3. Nepal and Bhutan
4. India, Nepal and Bhutan

Q.17) Consider the following statements about Heart of Asia – Istanbul Process

1. The 7th Ministerial Conference will be held in Amritsar and India will be co-chairing the process
2. Iran and Iraq are not members of the process

Select the correct statements

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

Q.18) Consider the following statements about Cauvery river

1. The Cauvery basin extends over states of Tamil Nadu, Karnataka and Kerala
2. Alluvial soil, black soil and red soil is found in the Cauvery basin

Which of the following statements is/are correct?

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

Q.19) Global Competitiveness Index is released by

1. World Economic Forum
2. World Bank
3. International Monetary Fund
4. International Labour Organisation

Q.20) Consider the following statements about Department of Investment and Public Asset Management (DIPAM)

1. It is under the Ministry of Corporate Affairs
2. Earlier it was called as Department of Disinvestment, which was under the Ministry of Finance

Select the correct statements

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

Q.21) ‘Price Stabilization Fund’ scheme is administered by the Ministry of

1. Food Processing Industries
2. Finance
3. Agriculture
4. Consumer Affairs, Food and Public Distribution

Q.22) Recently Maria Sharapova was banned for consumption of a drug & the same drug was banned by World Anti-Doping Agency (WADA). Which is that drug?

1. Acetylsalicylic Acid
2. Paracetamol
3. Creatine
4. Meldonium

Download The Solution: Click here

We have noticed that more answers are posted once the Solutions are published.

This does not serve the purpose of tracking and improving  upon your performance. More participation will also help us in coming up with accurate cut off.

Henceforth, we will be publishing the Solutions once 200 answers (minimum) are posted. There will be no fixed time as such. It all depends on your participation. All the Best 🙂