QUIZ – 2019: Insights Static Quiz, 14 December 2019 – ECONOMY
INSIGHTS STATIC QUIZ 2019
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Question 1 of 5
1. Question
Reserve Tranche is the economic term used in the context with
Correct
Solution: d)
A reserve tranche is a portion of the required quota of currency each member country must provide to the International Monetary Fund (IMF) that can be utilized for its own purposes—without a service fee or economic reform conditions.
Incorrect
Solution: d)
A reserve tranche is a portion of the required quota of currency each member country must provide to the International Monetary Fund (IMF) that can be utilized for its own purposes—without a service fee or economic reform conditions.
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Question 2 of 5
2. Question
Reserve bank of India (RBI) can print hard currency to meet fiscal deficit at exceptional circumstances. Why RBI doesn’t take such kind of measure?
Correct
Solution: d)
Printing money just for meeting a deficit creates over flow of money into the market creating hyperinflation. So, RBI usually don’t take such measure.
Incorrect
Solution: d)
Printing money just for meeting a deficit creates over flow of money into the market creating hyperinflation. So, RBI usually don’t take such measure.
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Question 3 of 5
3. Question
The interest rate at which banks lend to favoured customers is known as
Correct
Solution: d)
A prime rate or prime lending rate is an interest rate used by banks, usually the interest rate at which banks lend to favoured customers—i.e., those with good credit.
Incorrect
Solution: d)
A prime rate or prime lending rate is an interest rate used by banks, usually the interest rate at which banks lend to favoured customers—i.e., those with good credit.
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Question 4 of 5
4. Question
Which of the following are released by Central Statistics Office (CSO)?
- Index of Industrial Production (IIP)
- CPI(Rural)
- CPI for Industrial workers CPI(IW)
- Wholesale Price Index (WPI)
Select the correct answer code:
Correct
Solution: b)
The all India index of Industrial Production (IIP) is compiled and published monthly by the Central Statistical Organization (CSO).
CPI(Urban) and CPI(Rural) are compiled by Central Statistical Organisation.
CPI for Industrial workers CPI(IW) compiled by Labour Bureau.
In India, Office of Economic Advisor (OEA), Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry calculates the Wholesale Price Index (WPI).
Incorrect
Solution: b)
The all India index of Industrial Production (IIP) is compiled and published monthly by the Central Statistical Organization (CSO).
CPI(Urban) and CPI(Rural) are compiled by Central Statistical Organisation.
CPI for Industrial workers CPI(IW) compiled by Labour Bureau.
In India, Office of Economic Advisor (OEA), Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry calculates the Wholesale Price Index (WPI).
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Question 5 of 5
5. Question
Consider the following statements.
- India’s retail price inflation has fallen in the last 3 years.
- Contraction in industrial activity and rising inflation can lead to stagflation in the economy.
Which of the above statements is/are correct?
Correct
Solution: b)
Retail inflation had surged to a 40-month high of 5.54% in November 2019, driven by rising food inflation.
This combination of contraction in industrial activity and rising inflation has led experts to fear that India is entering a phase of stagflation (a situation in which there is persistent high inflation combined with stagnant or declining demand).
Incorrect
Solution: b)
Retail inflation had surged to a 40-month high of 5.54% in November 2019, driven by rising food inflation.
This combination of contraction in industrial activity and rising inflation has led experts to fear that India is entering a phase of stagflation (a situation in which there is persistent high inflation combined with stagnant or declining demand).
