IASbaba’s 60 Day Plan- Prelims Test 2017 Economics and Current Affairs [Day 46]

Hello Friends

So, here we are with the 46th 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 46]: ECONOMICS & CURRENT AFFAIRS 

ARCHIVES

Q.1) Which of the following items are not a part of Invisibles in the Balance of Payment of a country?

1. Export of Software Services
2. Export of Financial Services
3. Export of Laptops
4. Export of Management Services

Q.2) Which of the following items is not a part of Current Account in a country’s Balance of Payment?

1. Exports of Services
2. Imports of Goods
3. Remittances
4. External commercial Borrowings

Q.3) Current Account Deficit of a country can be reduced by

1. Increasing the imports
2. Reducing the exports
3. Reducing the inflow of remittances
4. Decreasing the imports

Q.4) Consider the following statements with reference to the Special Drawing Rights of IMF

1. SDRs are a reserve currency of IMF and is allocated to member countries in proportion to their IMF quotas
2. If a country’s SDR holding is above its allocation it earns interest on the excess holdings from IMF

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.5) Consider the following statements with reference to Common Market as a stage of economic integration

1. Member countries abolish trade barriers while trading among themselves
2. In addition to free trade movement of labour and capital is also liberalized

Which of the above statements is/are incorrect?

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

Q.6) Which of the following is not a non-tariff barrier?

1. Packaging requirements
2. Custom duty
3. Import Quota
4. Health, Sanitary and Safety regulations

Q.7) Consider the following statements with reference to Foreign exchange reserves of India

1. It consists of Indian rupee, Foreign Currencies and Gold
2. The reserves are managed by the Reserve Bank of India

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.8) ‘FDI Regulatory Restrictiveness Index’ is published by which of the following organizations?

1. UNCTAD
2. IMF
3. WEF
4. OECD

Q.9) Consider the following statements with reference to the Convertibility of Indian currency

1. For current account transactions, Indian rupee can be fully converted into any foreign currency
2. India has introduced full convertibility in capital account transactions since 2015

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.10) ‘World Investment Report’ is published by which of the following organizations?

1. World Bank
2. IMF
3. UNCTAD
4. WEF

Q.11) which of the following events will increase India’s Current Account Deficit (CAD)?

1. An Australian visiting Goa for new year
2. A US couple hiring a surrogate mother in Gujrat
3. An NRI sending money to his family in India
4. An Indian student studying Post-graduation in Germany

Q.12) Consider the following statements with reference to depreciation of a currency

1. It is a fall in the value of domestic currency with respect to other currencies
2. It is done by deliberate government intervention

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.13) India follows which of the following Exchange Rate Regimes (ERR)

1. Pegged ERR
2. Free floating ERR
3. Managed floating ERR
4. None of the above

Q.14) Consider the following statements about National Family Health Survey-4.

1. This is the first time the government has conducted a survey to find out the incidence of diabetes and hypertension
2. NFHS-4, for the first time, will provide estimates of most indicators at the district level

Select the correct statements

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

Q.15) The government has notified 56,825 square km area in the Western Ghats (WG) region as ecologically sensitive area (ESA). The notified land is spread over which of the following states?

1. Karnataka
2. Maharashtra
3. Goa
4. Gujarat
5. Tamil Nadu
6. Kerala

Select the correct code:

1. 1,2,3,4 and 6
2. 1,2,3,5 and 6
3. 1, 2, 3 and 4
4. All of the above

Q.16) Taratarini Temple is located in which of the following states?

1. Andhra Pradesh
2. Odisha
3. Tamil Nadu
4. Madhya Pradesh

Q.17) Consider the following statements about ‘Seemaikaruvelam’ trees

1. It is native to Mexico, South America and the Caribbean
2. It is an invasive species
3. It produces less oxygen and more carbon dioxide

Select the correct statements

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

Q.18) Consider the following statements

1. Uttarakhand has the highest tiger population in India
2. Uttarakhand has highest number of tiger reserves after Karnataka
3. Kanha tiger reserve is the only place in the world where swamp deer exists

Select the incorrect statements

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

Q.19) ‘VrindavaniVastra’ was in news recently. It is related which of the following states?

1. Uttar Pradesh
2. Gujarat
3. Assam
4. Madhya Pradesh

Q.20) Consider the following statements about ‘Monpa tribe’

1. They hail from the Changtang Plateau region in Ladakh
2. Losar and Torgya are the two major festivals of Monpas

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.21) Mazdoor Kisan Shakti Sangathan was an organisation in

1. Madhya Pradesh
2. Maharashtra
3. Uttar Pradesh
4. Rajasthan

Q.22) Consider the following statements about Anti-dumping duty

1. The Department of Commerce recommends the anti-dumping duty, while Ministry of Finance levies such duty
2. It is imposed on both exports and imports
3. The use of anti-dumping is not permitted by the WTO

Select the correct statements

1. Only 1
2. 1 and 2
3. 1 and 3
4. All of the above

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