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Question 1 of 5
1. Question
1 pointsPrinting currency is usually the last resort for the government in managing its deficit because of which of the reasons given below?
1. Government expenditure using this new money boosts incomes and raises private demand in the economy, thus leading to inflation.
2. Excess supply of rupee will cause its depreciation.
Select the correct answer using the codes given belowCorrect
Both of the above statements are correct.
Government expenditure using this new money boosts incomes and raises private demand in the economy. Thus, it fuels inflation. Easy monetary policy and high inflation are two of the leading causes of currency depreciation.Incorrect
Both of the above statements are correct.
Government expenditure using this new money boosts incomes and raises private demand in the economy. Thus, it fuels inflation. Easy monetary policy and high inflation are two of the leading causes of currency depreciation. -
Question 2 of 5
2. Question
1 pointsWhich of the following statements regarding Current account convertibility is/are correct?
1. Current account convertibility means freedom to convert domestic currency into foreign currency and vice versa for trade in goods and invisibles.
2. There is partial Current account convertibility in India.
Select the correct answer using the codes given belowCorrect
Statement 1 is correct while statement 2 is incorrect.
Current account convertibility means freedom to convert domestic currency into foreign currency and vice versa for trade in goods and invisibles (services, transfers or income from investment). Individuals and entities can convert currencies in the foreign exchange market. Current account convertibility is one part of currency convertibility.
In India, there is full current account convertibility since August 20, 1993.Incorrect
Statement 1 is correct while statement 2 is incorrect.
Current account convertibility means freedom to convert domestic currency into foreign currency and vice versa for trade in goods and invisibles (services, transfers or income from investment). Individuals and entities can convert currencies in the foreign exchange market. Current account convertibility is one part of currency convertibility.
In India, there is full current account convertibility since August 20, 1993. -
Question 3 of 5
3. Question
1 pointsWhich of the following statements regarding Imported Inflation is/are correct?
1. When the general price level rises in a country because of the rise in prices of imported commodities, inflation is termed as imported.
2. The weakening of the domestic currency may lead to imported inflation in the country.
Select the correct answer using the codes given belowCorrect
Both of the above statements are correct.
When the general price level rises in a country due to the rise in prices of imported commodities, inflation is termed imported. Inflation may also rise due to depreciation of the domestic currency, which pushes up the landed rupee cost of imported items.Incorrect
Both of the above statements are correct.
When the general price level rises in a country due to the rise in prices of imported commodities, inflation is termed imported. Inflation may also rise due to depreciation of the domestic currency, which pushes up the landed rupee cost of imported items. -
Question 4 of 5
4. Question
1 pointsThe Hutus and Tutsis, recently seen in news belong to which of the countries given below?
Correct
The majority Hutus and minority Tutsis have had a troubled relationship in Rwanda that goes back to the German and Belgian colonial period.
Incorrect
The majority Hutus and minority Tutsis have had a troubled relationship in Rwanda that goes back to the German and Belgian colonial period.
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Question 5 of 5
5. Question
1 pointsWhich of the following statements regarding National Automated Clearing House (NACH) is/are correct?
1. It is the centralized web-based inter-bank payment/transaction processing system by National Payments Corporation of India.
2. It allows regular direct debit from a borrower’s bank account towards his loan repayments.
Select the correct answer using the codes given below
a) 1 onlyCorrect
Both of the above statements are correct.
National Automated Clearing House (NACH) is the centralized web-based inter-bank payment/transaction processing system by the National Payments Corporation of India (NPCI). In simple words, NACH allows regular direct debit from a borrower’s bank account towards his loan repayments. This is directly credited to the lender’s bank account.Incorrect
Both of the above statements are correct.
National Automated Clearing House (NACH) is the centralized web-based inter-bank payment/transaction processing system by the National Payments Corporation of India (NPCI). In simple words, NACH allows regular direct debit from a borrower’s bank account towards his loan repayments. This is directly credited to the lender’s bank account.
Leaderboard: 15th June 2021 | Prelims Daily with Previous Year Questions
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