Quiz-summary
0 of 5 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
Information
The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.
To view Solutions, follow these instructions:
Click on – ‘Start Quiz’ button
Solve Questions
Click on ‘Quiz Summary’ button
Click on ‘Finish Quiz’ button
Now click on ‘View Questions’ button – here you will see solutions and links.
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 5 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Average score | |
Your score |
Categories
- Not categorized 0%
Pos. | Name | Entered on | Points | Result |
---|---|---|---|---|
Table is loading | ||||
No data available | ||||
- 1
- 2
- 3
- 4
- 5
- Answered
- Review
- Question 1 of 5
1. Question
1 pointsConsider the following statements.
- Product taxes and subsidies are paid or received per unit or product.
- Production taxes and subsidies are paid or received in relation to production and are independent of the volume of production.
- Factor cost includes only the payment to factors of production including tax.
Which of the above statements is/are correct?
CorrectSolution: c)
In India, the most highlighted measure of national income has been the GDP at factor cost. The Central Statistics Office (CSO) of the Government of India has been reporting the GDP at factor cost and at market prices.
The distinction between factor cost, basic prices and market prices is based on the distinction between net production taxes (production taxes less production subsidies) and net product taxes (product taxes less product subsidies). Production taxes and subsidies are paid or received in relation to production and are independent of the volume of production such as land revenues, stamp and registration fee. Product taxes and subsidies, on the other hand, are paid or received per unit or product, e.g., excise tax, service tax, export and import duties etc. Factor cost includes only the payment to factors of production, it does not include any tax.
IncorrectSolution: c)
In India, the most highlighted measure of national income has been the GDP at factor cost. The Central Statistics Office (CSO) of the Government of India has been reporting the GDP at factor cost and at market prices.
The distinction between factor cost, basic prices and market prices is based on the distinction between net production taxes (production taxes less production subsidies) and net product taxes (product taxes less product subsidies). Production taxes and subsidies are paid or received in relation to production and are independent of the volume of production such as land revenues, stamp and registration fee. Product taxes and subsidies, on the other hand, are paid or received per unit or product, e.g., excise tax, service tax, export and import duties etc. Factor cost includes only the payment to factors of production, it does not include any tax.
- Question 2 of 5
2. Question
1 pointsConsider the following statements regarding the Governor of a State.
- Governor is a Constitutional office subordinate to the Central Government.
- The appointment of Governors is based on the Canadian Constitution.
- According to the Constitution, one of the qualifications for a person to be appointed as a Governor is, he/she should not belong to a state where he/she is appointed.
Which of the above statements is/are correct?
CorrectSolution: b)
The governor is neither directly elected by the people nor indirectly elected by a specially constituted electoral college as is the case with the president. He is appointed by the president by warrant under his hand and seal. In a way, he is a nominee of the Central government. But, as held by the Supreme Court in 1979, the office of governor of a state is not an employment under the Central government. It is an independent constitutional office and is not under the control of or subordinate to the Central government.
The American model, where the Governor of a state is directly elected, was dropped and the Canadian model, where the governor of a province (state) is appointed by the Governor-General (Centre), was accepted in the Constituent Assembly.
The Constitution lays down only two qualifications for the appointment of a person as a governor. These are:
- He should be a citizen of India.
- He should have completed the age of 35 years.
Additionally, two conventions have also developed in this regard over the years. First, he should be an outsider, that is, he should not belong to the state where he is appointed, so that he is free from the local politics. Second, while appointing the governor, the president is required to consult the chief minister of the state concerned, so that the smooth functioning of the constitutional machinery in the state is ensured. However, both the conventions have been violated in some of the cases.
IncorrectSolution: b)
The governor is neither directly elected by the people nor indirectly elected by a specially constituted electoral college as is the case with the president. He is appointed by the president by warrant under his hand and seal. In a way, he is a nominee of the Central government. But, as held by the Supreme Court in 1979, the office of governor of a state is not an employment under the Central government. It is an independent constitutional office and is not under the control of or subordinate to the Central government.
The American model, where the Governor of a state is directly elected, was dropped and the Canadian model, where the governor of a province (state) is appointed by the Governor-General (Centre), was accepted in the Constituent Assembly.
The Constitution lays down only two qualifications for the appointment of a person as a governor. These are:
- He should be a citizen of India.
- He should have completed the age of 35 years.
Additionally, two conventions have also developed in this regard over the years. First, he should be an outsider, that is, he should not belong to the state where he is appointed, so that he is free from the local politics. Second, while appointing the governor, the president is required to consult the chief minister of the state concerned, so that the smooth functioning of the constitutional machinery in the state is ensured. However, both the conventions have been violated in some of the cases.
- Question 3 of 5
3. Question
1 pointsConsider the following statements.
- Import cover is the number of months of imports that could be paid for by a country’s Forex reserves.
- Import substitution is an inward-looking trade strategy aimed at replacing imports with domestic production.
Which of the above statements is/are incorrect?
CorrectSolution: d)
Import cover is the number of months of imports that could be covered for by a country’s international reserves. Import cover is an important indicator of the stability of a currency.
‘Import Substitution’ (IS) generally refers to policy that eliminates the importation of the commodity and allows for the production in the domestic market. The objective of this policy is to bring about structural changes in the economy.
IncorrectSolution: d)
Import cover is the number of months of imports that could be covered for by a country’s international reserves. Import cover is an important indicator of the stability of a currency.
‘Import Substitution’ (IS) generally refers to policy that eliminates the importation of the commodity and allows for the production in the domestic market. The objective of this policy is to bring about structural changes in the economy.
- Question 4 of 5
4. Question
1 pointsWhich of the following are major economic traits of boom?
- Demand peaks up to such a high level that it exceeds sustainable output/production levels.
- The economy might face structural problems like shortage of investible capital and lower savings.
- The market forces mismatch and tend to create a situation where inflation starts going upward.
Select the correct answer code:
CorrectSolution: d)
A strong upward fluctuation in the economic activities is called boom. The major economic traits of boom may be listed as given below:
(i) an accelerated and prolonged increase in the demand;
(ii) demand peaks up to such a high level that it exceeds sustainable output/production levels;
(iii) the economy heats up and a demand supply lag is visible;
(iv) the market forces mismatch (i.e., demand and supply disequilibirium) and tend to create a situation where inflation starts going upward;
(v) the economy might face structural problems like shortage of investible capital, lower savings, falling standard of living, creation of a sellers’ market.
IncorrectSolution: d)
A strong upward fluctuation in the economic activities is called boom. The major economic traits of boom may be listed as given below:
(i) an accelerated and prolonged increase in the demand;
(ii) demand peaks up to such a high level that it exceeds sustainable output/production levels;
(iii) the economy heats up and a demand supply lag is visible;
(iv) the market forces mismatch (i.e., demand and supply disequilibirium) and tend to create a situation where inflation starts going upward;
(v) the economy might face structural problems like shortage of investible capital, lower savings, falling standard of living, creation of a sellers’ market.
- Question 5 of 5
5. Question
1 pointsThe countries bordering Iran are
- Armenia
- Afghanistan
- Tajikistan
- Iraq
- Syria
Select the correct code:
Join our Official Telegram Channel HERE for Motivation and Fast Updates
Subscribe to our YouTube Channel HERE to watch Motivational and New
Join our Twitter Channel HERE
Follow our Instagram Channel HERE