IASbaba's Daily Static Quiz
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DAILY STATIC QUIZ (PYQs)
It will cover PYQs all the topics of static subjects – Polity, History, Geography, Economics, Environment and Science and technology.
Daily 5 questions (Monday to Saturday) will be posted from static topics (PYQs)
The questions will be in the quiz format so you will be able to answer them directly on the portal.
Schedule
- Week 1 – Polity
- Week 2 – Economics
- Week 3 – History and Art & Culture
- Week 4 – Geography
- Week 5 – Environment and Science & Technology
Same cycle will be repeated from Week 6.
Make the best use of the initiative. All the best!
To Know More about Ace the Prelims (ATP) 2021 – CLICK HERE
Important Note:
- Don’t forget to post your marks in the comment section. Also, let us know if you enjoyed today’s test 🙂
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Question 1 of 5
1. Question
In India, deficit financing is used for raising resources for (2013)
Correct
Solution (a)
Deficit financing means generating funds to finance the deficit which results from excess of expenditure over revenue. The gap being covered by borrowing from the public by the sale of bonds or by printing new money.
Why we need deficit financing?
For developing countries like India, higher economic growth is a priority. A higher economic growth requires finances. With the private sector being shy of making huge expenditure, the responsibility of drawing financial resources rests on the government.
Incorrect
Solution (a)
Deficit financing means generating funds to finance the deficit which results from excess of expenditure over revenue. The gap being covered by borrowing from the public by the sale of bonds or by printing new money.
Why we need deficit financing?
For developing countries like India, higher economic growth is a priority. A higher economic growth requires finances. With the private sector being shy of making huge expenditure, the responsibility of drawing financial resources rests on the government.
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Question 2 of 5
2. Question
An increase in the Bank Rate generally indicates that the (2013)
Correct
Solution (d)
Bank rate is the rate charged by the central bank for lending funds to commercial banks.
- Bank rates influence lending rates of commercial banks. Higher bank rate will translate to higher lending rates by the banks. In order to curb liquidity, the central bank can resort to raising the bank rate and vice versa.
- RBI lends money to its clients for long term loans at a particular interest rate.
- Tight monetary policy is followed when RBI raises the rates to decrease liquidity.
Incorrect
Solution (d)
Bank rate is the rate charged by the central bank for lending funds to commercial banks.
- Bank rates influence lending rates of commercial banks. Higher bank rate will translate to higher lending rates by the banks. In order to curb liquidity, the central bank can resort to raising the bank rate and vice versa.
- RBI lends money to its clients for long term loans at a particular interest rate.
- Tight monetary policy is followed when RBI raises the rates to decrease liquidity.
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Question 3 of 5
3. Question
The balance of payments of a country is a systematic record of (2013)
Correct
Solution (a)
The balance of payments (BOP) of a country is the record of all economic transactions between the residents of a country and the rest of the world in a particular period (over a quarter of a year or more commonly over a year).
Incorrect
Solution (a)
The balance of payments (BOP) of a country is the record of all economic transactions between the residents of a country and the rest of the world in a particular period (over a quarter of a year or more commonly over a year).
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Question 4 of 5
4. Question
Which of the following grants/grant direct credit assistance to rural households? (2013)
- Regional Rural Banks
- National Bank for Agriculture and Rural Development
- Land Development Banks
Select the correct answer using the codes given below.
Correct
Solution (c)
NABARD do not provide direct assistance. It “refinance” the assistance by other institutions. It provides credit via intermediaries such as Microfinance companies, cooperative society.
Incorrect
Solution (c)
NABARD do not provide direct assistance. It “refinance” the assistance by other institutions. It provides credit via intermediaries such as Microfinance companies, cooperative society.
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Question 5 of 5
5. Question
The national income of a country for a given period is equal to the (2013)
Correct
Solution (a)
National income of a country can be defined as the total market value of all final goods and services produced in the economy in a year. Two things must be noted in regard to this meaning of national income. First, it measures the market value of annual output. In other words, national income is a monetary measure.
Incorrect
Solution (a)
National income of a country can be defined as the total market value of all final goods and services produced in the economy in a year. Two things must be noted in regard to this meaning of national income. First, it measures the market value of annual output. In other words, national income is a monetary measure.
