UPSC Subject Quiz (Economy) for IAS Exams

Question 1

Consider the following statement regarding Jal Jeevan Mission:

1) It Aims to provide piped water supply to all households.

2) This scheme also promotes water harvesting and de-salination.

Which of the statements given above is/are correct?

Question 2

Which of the following given below services are exempted under GST?

Question 3

Inflation is associated with a sustained-

Question 4

Bilateral monopoly refers to the market situation of:

Question 5

Consider the following:

1) Gifts from abroad which bring transfer payment.

2) Imputed expenditure on own account output.

3) Expenditure on purchase of second-hand goods.

4) Government expenditure on all transfer payments.

Which of the above items are not included while accounting for national income by expenditure method?

Question 6

Which of the following factors are responsible for the difference in the Consumer price index and the GDP deflator?

1) GDP deflator does not take into account all goods and services produced in the country whereas CPI does.

2) CPI includes prices of imported goods. GDP deflator does not include prices of imported goods.

3) The weights are constant in CPI – but they differ according to production level of each good in GDP deflator.

Codes:

Question 7

Consider the following statements:

1) The Department of Commerce comes under the Ministry of Finance.

2) The Department of Commerce implements and monitors the Foreign Trade Policy.

Which of the statements given above is/are correct?

Question 8

Travel & Tourism Competitive Index is released by which of these bodies?

Question 9

Consider the following statements.

1) RBI can act as lender of last resort for banks and NBFCs both.

2) All NBFCs are registered with and regulated by RBI.

Select the correct answer –

Question 10

Which of the following statements is/are correct regarding Indian economy?

1) Agriculture is the only sector with positive growth at constant prices in 2020-21

2) Share of agriculture in gross domestic product (GDP) has reached almost 20% for the first time in a decade.

3) Percentage of female employment is highest in industry compared to agriculture and services.

Select the correct answer from the code given below: