IASbaba’s 60 Day Plan- Prelims Test 2018 ECONOMICS & CURRENT AFFAIRS [Day 41]

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Hello Friends, 

Welcome to Day-41.

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 can you 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 to all questions. Do not cheat 😛

DETAILED MICRO ANALYSIS MATRIX SAMPLE– is given here. You can download this and do an assessment for yourself.  DOWNLOAD

• You can copy paste the same format/modify as per your need in Google Spreadsheet and update it on daily basis.
• Feedback talks about daily test results.
• Follow-up talks about daily target achieved from sources and the number of revisions to do/done and dates. Sources column is to ensure that aspirants do not run behind various sources and follow the same throughout.

Are you ready? Let’s start!

[Day 41]: ECONOMICS AND CURRENT AFFAIRS

Q.1) Consider the following statements about Negotiable Warehousing Receipts (NWR):

1. Enables farmers to seek loans from banks against NWRs.
2. It allows farmers to avoid distress sale.
3. It encourages scientific warehousing of goods.
4. It helps to increase liquidity in rural areas.

Which of the above statements is/are correct?

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

Q.2) Which of the following statement is correct about International Road Federation (IRF)?

1. The IRF is global non-governmental, not-for-profit organization.
2. The IRF is global intergovernmental organization.
3. The IRF is global Civil Society movement.
4. The IRF is international private for-profit entity.

Q.3) Centre has announced a recapitalization plan for the Public-Sector Banks (PSBs) through issuance of recapitalization bonds. Consider the benefits of recap bonds.

1. There will be less burden on taxpayer.
2. Government can avoid crowding out private borrowings.
3. The method is potential solution for the structural problems in the banking system.

Which of the above statements is/are correct?

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

Q.4) Select the most appropriate statement regarding Domestic Systemically Important Banks (D-SIBs)

1. Banks whose assets exceed 1% of GDP are considered part of this group.
2. D-SIB means that the bank is too big to fail.
3. D-SIB means all the nationalized banks
4. D-SIB means banks that work on behalf of Government’s foreign dealings.

Q.5) Consider the following statements about Sampoorna Bima Gram Yojana (SBG) yojana.

1. It is launched by Ministry of Social Justice and Empowerment.
2. It intends to provide affordable life insurance services to people living in rural areas of the country through the postal network
3. Coverage of all households in the identified Sampoorna Bima Gram village is the primary objective of this scheme.

Which of the above statements is/are correct?

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

Q.6) Which of the following is not the Market Infrastructure Institution?

1. State Bank of India
2. Bombay Stock Exchange
3. Central Depository Services Ltd
4. Indian Clearing Corporation Ltd

Q.7) Universal Service Obligation Fund aims to

1. Provide accessible and affordable health to poor and vulnerable Indians through Ayushman Bharat.
2. Subsidies the rooftop solar energy for the clients through National Solar Mission.
3. Provide non-discriminatory access to quality ICT services at affordable prices to people in rural and remote areas.
4. Provide accessible and affordable electricity through Saubhagya scheme.

Q.8) Which of the following statements are correct regarding Pradhan Mantri Suraksha Bima Yojna?

1. The scheme is available to age group of 40 – 70 years.
2. The risk coverage under the scheme is Rs. 2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability.
3. The premium of Rs.12 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility.

Select the code from following:

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

Q.9) Which of the following statements is/are correct regarding Headline Inflation?

1. Headline inflation is a measure of the total inflation within an economy, including commodities such as food and energy prices.
2. It is highly volatile and prone to inflationary spikes

Select the code from following:

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

Q.10) Green Accounting is seen as an important step towards Sustainable development. Which of the following statements correctly defines Green Accounting?

1. It accounts for all the biological resources in monetary terms.
2. It is a type of accounting that attempts to factor environmental costs into the financial results of operations.
3. It is a type of accounting that extrapolates the impact on environment in monetary terms of the proposed Greenfield projects.
4. It is the accounting of wildlife resources so that a quota can be maintained for exploitation of these resources.

Q.11) Government of India has decided to do away with Five year Plan process and replace it with 15 year Vision Document. Which of the following statements regarding 15 year Vision document are correct?

1. The first 15 year Vision doc has come into effect since Financial year 2014 -15.
2. It will be formulated with central objective of eradicating poverty.
3. It will come along with a 7 year National Development Agenda which will lay down schemes and targets.

Select the code from following:

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

Q.12) The Phrase ‘Hindu Growth Rate’ was coined by the economist Raj Krishna. Hindu growth rate denotes the growth rate of –

1. Indian Agriculture
2. GDP
3. Population
4. Soft power of India

Q.13) In which of the following census, the decadal increase in population was less than the previous decade i.e. number of person added in the population were less than the previous decade?

1. 1991
2. 1921
3. 1951
4. 2011

Select the code from following:

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

Q.14) Which of the following statements are correct regarding Neeranchal watershed Program?

1. The scheme will be implemented with the assistance of World bank
2. The project is implemented by the Union Ministry of Rural Development.
3. It seeks to ensure access to irrigation to every farmland (Har Khet Ko Pani) and for efficient use of water (Per Drop More Crop).

Select the code from following

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

Q.15) Consider the below pairs with regard to economic schools of thought:

1. Classical school : : Strongly believed in the efficiency of Free Markets to generate economic development.
2. Modern school : : Believed in government’s interference and influence in the economic process.

Which of the above given pairs is/are correct?

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

Q.16) Consider the below given pairs in regard to 4 Main Phases of a Business Cycle:

1. Boom : : Business activity at high level with increasing income, output and employment at macro level
2. Recession : : Gradual fall of income, output and employment with business activity in a low gear
3. Depression : : Unprecedented level of under employment and unemployment, drastic fall in income, output and employment
4. Recovery : : Steady rise in the general level of prices, income, output and employment

Which of the above given pairs is/are correct?

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

Q.17) Incremental Capital Output Ratio (ICOR) is calculated to know the production efficiency of an economy. Which of the following statements are correct about ICOR?

1. There is no relation between the value of ICOR and efficiency.
2. It depends on the type of economic system.
3. Higher the value of ICOR higher is the efficiency
4. Lower the value of ICOR higher is the efficiency

Q.18) Choose the correct answer from below statements with regard to ‘Blue Bonds’ in India:

1. These bonds are used to specifically finance water infrastructure
2. It is an Indian innovation which fund the development of sustainable fisheries
3. Sale of these bonds will be linked to a fisheries-management plan to develop the country’s semi-industrial and artisanal fishing sectors
4. All of the above

Q.19) Which of the following correctly defines the term ‘crowding out effect’?

1. It is an investment process under which general public is kept out
2. It is an economic theory which believes that more expenditure in social security generates economic growth
3. It is an economic theory which believes that rise in public sector spending drive down or even eliminate private sector spending
4. None of the above

Q.20) The Industrial Output data is captured and monitored, primarily, through two statistical activities – Annual Survey of Industries (ASI) and Index of Industrial Production (IIP). Consider the below statements in regard to it:

1. The ASI is conducted annually, whereas IIP on a monthly basis.
2. The ASI survey is computed and published by the National Sample Survey Office (NSSO).
3. The IIP index is computed and published by the Central Statistical Organisation (CSO).

Which of the statements given above is/are correct?

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

Q.21) Among the below given statements about different income measures, identify the incorrect statement –

1. National Income measures the stock of commodities held by the nationals of a country at a point of time.
2. Personal Income is the total money income received by individuals and households of a country from all possible sources before direct taxes.
3. Gross National Income is the sum of a nation’s gross domestic product (GDP) plus net income received from overseas.
4. Per Capita Income of a country is derived by dividing the national income of the country by the total population of a country.

Q.22) ‘SPARK (Systematic Progressive Analytical Real-time Ranking)’ and ‘Personalised After-training Rapid Assessment System (PARAS)’ are associated with which of the following ministries?

1. Ministry of Housing & Urban Affairs
2. Ministry of Skill Development and Entrepreneurship
3. Ministry of Social Justice & Empowerment
4. Ministry of Labour & Employment

Q.23) Consider the following statements about ‘Perform Achieve and Trade Scheme (PAT)’

1. It aims to improve energy efficiency in industries by trading in energy efficiency certificates in energy intensive sectors
2. It is a component of the National Mission for Enhanced Energy Efficiency (NMEEE)

Select the correct statements

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

Q.24) Which of the following is/are correctly matched?

1. Pashupatinath Temple – Nepal
2. Angkor Wat – Cambodia
3. Vat Phou – Laos

Select the correct code:

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

Q.25) Operation “Olive Branch” was launched by

1. Russia
2. France
3. Egypt
4. Turkey

Q.26) Which of the following countries forms ‘South Asia Growth Quadrangle (SAGQ)’?

1. Bangladesh
2. Bhutan
3. Sri Lanka
4. India
5. Nepal

Select the correct code:

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

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