DAY – 36 & 37: Insights Self Study Guide for Prelims + Mains – 2015
15 & 16 July 2015
Following Questions are Based on this TIMETABLE
Economic Survey Chapters will be Covered Tomorrow
Descriptive Questions
CLICK on the Questions to Post Your Answers.
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
NCERT Class XII, Introductory Macroeconomics, Chapter – 5
3) Differentiate between balance of trade and current account balance. (150 Words)
NCERT Class XII, Introductory Macroeconomics, Chapter – 6
Multiple Choice Questions Quiz
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Welcome to the New initiative. The following questions are based on the topics we have given in this Timetable. For more challenging question papers (Full Length), please join our Preliminary Exam – 2015 Test Series (Please Click Here for Reviews)
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Question 1 of 10
1. Question
With reference to High Powered Money, consider the following statements:
- It consists of currency and deposits held by the Government of India and commercial banks with RBI
- The total amount of money stock in the economy is much lower than the volume of high powered money
Which of the above statements is/are correct?
Correct
Solution: a)
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
Incorrect
Solution: a)
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
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Question 2 of 10
2. Question
A situation where everybody wants to take money out of one’s bank account before the bank runs out of reserves is known as
Correct
Solution: b)
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
http://www.investopedia.com/terms/b/bankrun.asp
Incorrect
Solution: b)
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
http://www.investopedia.com/terms/b/bankrun.asp
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Question 3 of 10
3. Question
Consider the following statements:
- The RBI acts as banker only to the Government of India and not to the state governments as they receive funds from the central government
- The government of India has legal authority to print money to finance budget deficit
Which of the above statements is/are correct?
Correct
Solution: d)
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
Incorrect
Solution: d)
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
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Question 4 of 10
4. Question
Consider the following statements:
- A high value of Cash Reserve Ratio will diminish the amount of money in the economy
- A low value of Statutory Liquidity Ratio will decrease the amount of money in the economy
Which of the above statements is/are correct?
Correct
Solution: a)
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
Incorrect
Solution: a)
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
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Question 5 of 10
5. Question
If the RBI undertakes an open market sale of government securities of an amount equal to the amount of foreign exchange inflow in the economy, this operation is commonly known as
Correct
Solution: b)
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
Incorrect
Solution: b)
NCERT Class XII, Introductory Macroeconomics, Chapter – 4
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Question 6 of 10
6. Question
The notion that individual savings rather than spending can worsen a recession, or that individual saving is collectively harmful is known as
Correct
Solution: b)
NCERT Class XII, Introductory Macroeconomics, Chapter – 5
http://economictimes.indiatimes.com/definition/paradox-of-thrift
Incorrect
Solution: b)
NCERT Class XII, Introductory Macroeconomics, Chapter – 5
http://economictimes.indiatimes.com/definition/paradox-of-thrift
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Question 7 of 10
7. Question
Non-tax revenue of the central government mainly consists of which of the following sources?
- Interest receipts
- Grants in aid from foreign countries
- Excise duty on luxury cars
- Dividends and profits on investments made by the government
Choose the correct answer using the codes below:
Correct
Solution: d)
NCERT Class XII, Introductory Macroeconomics, Chapter – 5
Incorrect
Solution: d)
NCERT Class XII, Introductory Macroeconomics, Chapter – 5
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Question 8 of 10
8. Question
The main items of capital receipts of the government include
- Customs duties
- Service tax
- Market borrowings
Choose the correct answer using the codes below:
Correct
Solution: c)
NCERT Class XII, Introductory Macroeconomics, Chapter – 6
Incorrect
Solution: c)
NCERT Class XII, Introductory Macroeconomics, Chapter – 6
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Question 9 of 10
9. Question
When net interest liabilities of the government are subtracted from the Gross Fiscal Deficit, we get
Correct
Solution: a)
NCERT Class XII, Introductory Macroeconomics, Chapter – 5
Incorrect
Solution: a)
NCERT Class XII, Introductory Macroeconomics, Chapter – 5
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Question 10 of 10
10. Question
Consider the following statements:
- A high fiscal deficit is always inflationary
- When government increases spending or cuts taxes, it results in price rise
Which of the above statements is/are correct?
Correct
Solution: b)
NCERT Class XII, Introductory Macroeconomics, Chapter – 5
Incorrect
Solution: b)
NCERT Class XII, Introductory Macroeconomics, Chapter – 5
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