UPSC Prelims Test Series 2019 - Test 10(Economic And Social Development-2)

100 Questions | Total Attempts: 52

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UPSC Prelims Test Series 2019 - Test 10(Economic And Social Development-2)

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Questions and Answers
  • 1. 
    Consider the following statements 1. In a primary market, the instruments of security are procured between the capital-raiser and the instrument purchaser 2. In a secondary market, the participants are primary instrument holders Select the correct code from the following
    • A. 

      1 is correct

    • B. 

      2 is correct

    • C. 

      1 and 2 are correct

    • D. 

      1 and 2 are incorrect

  • 2. 
    The price of any currency in international market is decided by: 1. Demand for goods/services provided by the country concerned. 2. Stability of the government of the concerned country. 3. World Bank 4. Economic potential of the country in question. Select the correct answer using the codes given below:
    • A. 

      1, 2 and 3 only

    • B. 

      3 and 4 only

    • C. 

      1 and 2 only

    • D. 

      1, 2, 3 and 4

  • 3. 
    Identify correct statements from the following. 1. Revenue Receipts are the receipts that neither create liabilities nor reduce assets to the government. 2. All capital receipts are exempt from tax, unless there is a specific provision for taxing them. Codes:
    • A. 

      1 Only

    • B. 

      2 Only

    • C. 

      Both 1 & 2

    • D. 

      Neither 1 nor 2

  • 4. 
    Which of the following is a correct statement regarding Serious Fraud Investigation Office?
    • A. 

      It is a body under the jurisdiction of Department of Economic affairs

    • B. 

      It is a body under the jurisdiction of Department of Revenue

    • C. 

      It is a body under the jurisdiction of Ministry of Commerce

    • D. 

      It is a body under the jurisdiction of Ministry of Corporate affairs

  • 5. 
    Consider the following statements 1. The World’s first stock exchange was established in Antwerp, Belgium. 2. The Bombay stock exchange is Asia’s first stock exchange. Select the correct code from the following
    • A. 

      1 is correct

    • B. 

      2 is correct

    • C. 

      1 and 2 are correct

    • D. 

      1 and 2 are incorrect

  • 6. 
    Which of the following is the characteristic of ‘Round Tripping’?
    • A. 

      It is an arrangement where a property is transferred to a person located overseas without compliance with tax regime.

    • B. 

      It is a practice whereby a company deliberately incorporates a business unit in a tax haven to reinvest in the parent country.

    • C. 

      When a property which has purchased in the name of some person other than the person who has financed it and subsequently transfer to a third person.

    • D. 

      None of the above.

  • 7. 
    Identify correct statements from the following. 1. If a country has a currency board, the power of management of the exchange rate and the money supply are taken away from the nation's central bank. 2. Currency boards are normally constituted to control inflation. Codes:
    • A. 

      1 Only

    • B. 

      2 Only

    • C. 

      Both 1 & 2

    • D. 

      Neither 1 nor 2

  • 8. 
    Financial Stability Report is released by:
    • A. 

      Financial Stability Board.

    • B. 

      International Monetary Fund.

    • C. 

      World Bank

    • D. 

      Reserve Bank of India.

  • 9. 
    Identify the correct statements from the following 1. India’s first international exchange India INX is located in International Financial Services Centre in Bengaluru , Karnataka. 2. The Cabinet has recently approved the establishment of a Unified Authority for regulating all financial services in IFSCs through International Financial Services Centres Authority Bill, 2019. Select the correct code from the following
    • A. 

      1 is correct

    • B. 

      2 is correct

    • C. 

      1 and 2 are correct

    • D. 

      1 and 2 are incorrect

  • 10. 
    Which one of the following groups of items is included in India’s foreign exchange reserves?
    • A. 

      Foreign currency assets, gold holdings of the RBI and loans from the World Bank.

    • B. 

      Foreign-currency assets, Special Drawing Rights (SDRs) and loans from foreign countries.

    • C. 

      Foreign-currency assets, loans from the World Bank and SDRs.

    • D. 

      Foreign-currency assets, gold holdings of the RBI and SDRs.

  • 11. 
    With reference to the GST collection, which of the following is normally true?
    • A. 

      CGST > SGST >IGST

    • B. 

      CGST = SGST > IGST

    • C. 

      IGST > SGST > CGST

    • D. 

      SGST > CGST> IGST

  • 12. 
    Ashok Dalwai Committee seen in news is related to:
    • A. 

      Capital Markets

    • B. 

      Banking Sector

    • C. 

      Digital payments

    • D. 

      Agriculture

  • 13. 
    Money market where debt and stocks are traded and the maturity period is more than a year is classified as
    • A. 

      Shorter-term markets

    • B. 

      Capital markets

    • C. 

      Counter markets

    • D. 

      Long-term markets

  • 14. 
    Which of the following sectors have been conferred with the status of Priority Sector in order to ensure adequate institutional credit? 1. Renewable Energy 2. Export Credit 3. Social Infrastructure 4. Micro, Small and Medium Enterprises Select the correct answer using the codes given below.
    • A. 

      2 and 4 only

    • B. 

      1, 2 and 3 only

    • C. 

      2, 3 and 4 only

    • D. 

      1,2,3,4

  • 15. 
    A GST E- Way bill is not required in which of the following cases? 1. Transit cargo transported to or from Nepal or Bhutan. 2. Goods being transported by rail where the Consignor of goods is the Central Government, State Governments or a local authority. 3. When Unregistered persons( persons without GSTIN) transport goods. Codes
    • A. 

      1 Only

    • B. 

      2 & 3 Only

    • C. 

      1 & 2 Only

    • D. 

      1, 2 & 3

  • 16. 
    Logistics performance index is released by:
    • A. 

      World Trade Organisation.

    • B. 

      United Nations Conference on Trade and Development.

    • C. 

      World Bank

    • D. 

      World Economic Forum.

  • 17. 
    Which of the following are instruments of the money market? 1. Call Money 2. Notice Money 3. Bills Rediscounting Select the correct answer
    • A. 

      1 only

    • B. 

      1 and 2 only

    • C. 

      2 and 3 only

    • D. 

      1, 2 and 3 are correct.

  • 18. 
    If there is Current Account Deficit (CAD) and fiscal deficit in an economy, then ideally
    • A. 

      Investment in the economy should be equal to domestic savings.

    • B. 

      Savings will naturally be much greater than investment in the economy.

    • C. 

      Savings will be lesser than gross investment in the economy.

    • D. 

      Investment will be equal to the total amount of capital goods and infrastructure created in the economy.

  • 19. 
    Asian premium seen in news is related to:
    • A. 

      Asian development bank.

    • B. 

      BRICS Contingent Reserve Arrangement (CRA)

    • C. 

      Organisation of the Petroleum Exporting Countries (OPEC).

    • D. 

      None

  • 20. 
    Demand-pull inflation may be caused by:
    • A. 

      An Increase in interest rates.

    • B. 

      A reduction in interest rates

    • C. 

      A reduction in government spending

    • D. 

      An outward shift in aggregate supply

  • 21. 
    Which of the following can be beneficial to the problems faced by the Indian farmer?
    • A. 

      Trading in cryptocurrencies

    • B. 

      Utilizing commodity futures

    • C. 

      Banks moving to credit default swaps

    • D. 

      None of the above

  • 22. 
    General Anti-Avoidance Rules (GAAR) are meant for
    • A. 

      Extending tax deduction at source (TDS) system to all private sector employees to check avoidance.

    • B. 

      Denying tax benefits to a business entity if it carries out a transaction exclusively for avoiding tax.

    • C. 

      Make avoidance of corporation tax by business entities a criminal offence.

    • D. 

      Reducing circulation of black money on which tax can be avoided.

  • 23. 
    The effects of inflation on the price competitiveness of a country's products may be offset by:
    • A. 

      An appreciation of the currency

    • B. 

      A revaluation of the currency

    • C. 

      A depreciation of the currency

    • D. 

      Lower inflation abroad

  • 24. 
    Consider the following statements: 1. Petroleum and Explosives Safety Organisation (PESO) is a subordinate office under Department for Promotion of Industry and Internal Trade (DPIIT). 2. Department for Promotion of Industry and Internal Trade (DPIIT) is a department under Ministry of Commerce which releases Whole sale price Index (WPI). Which of the statements given above is/are correct?
    • A. 

      1 Only

    • B. 

      2 Only

    • C. 

      Both 1 and 2

    • D. 

      Neither 1 nor 2

  • 25. 
    Which of the following can be used for derivatives trading? 1. Interest Rates 2. Currency Rates 3. Bullion Rates Select the correct answer
    • A. 

      1 only

    • B. 

      1 and 2 only

    • C. 

      2 and 3 only

    • D. 

      1, 2, 3

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