Quiz-summary
0 of 5 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
Information
Dear students,
1. In the comments section, share your score and also let everyone know the logic you’ve used to mark certain answers. This will trigger intelligent discussions benefitting everyone.
2. Completing the test should be your top priority. Focus on accuracy rather than simply attempting more questions. Give enough thought to each question, we have increased the time limit so you can do this.
3. At the end of the test, click on ‘View Questions’ button to check the solutions.
*You can attempt the test multiple times for your own practice but only your first attempt will be counted for rankings.
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.
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 points‘Primary Deficit’ refers to
Correct
Primary Deficit is the difference between the current year’s fiscal deficit and the interest paid on the borrowings of the previous year.
Primary Deficit indicates the borrowing requirements of the government, excluding interest. It is the amount by which the total expenditure of a government exceeds the total income. Note that primary deficit does not include the interest payments made. Also, primary deficit shows the borrowing requirements needed for meeting the expenditure of the government.
Primary deficit is measured to know the amount of borrowing that the government can utilize, excluding the interest payments.Incorrect
Primary Deficit is the difference between the current year’s fiscal deficit and the interest paid on the borrowings of the previous year.
Primary Deficit indicates the borrowing requirements of the government, excluding interest. It is the amount by which the total expenditure of a government exceeds the total income. Note that primary deficit does not include the interest payments made. Also, primary deficit shows the borrowing requirements needed for meeting the expenditure of the government.
Primary deficit is measured to know the amount of borrowing that the government can utilize, excluding the interest payments. -
Question 2 of 5
2. Question
1 pointsA bank may decide to fulfil its Statutory Liquidity Ratio (SLR) obligations in which of the following forms?
1. Government security holdings
2. Gold holdings or Sovereign Gold Bonds (SGBs)
3. Vault Cash
Select the correct answer codeCorrect
1, 2 and 3 are correct.
The RBI Act instructs that all commercial banks (and some other specified institutions) in the country have to keep a given proportion of their demand and time deposits (NDTL or net demand and time liabilities) as liquid assets in their own vault. This is called statutory liquidity ratio.
The word statutory here means that it is a legal requirement and liquid asset means assets in the form of cash, gold and approved securities (government securities) or even SGBs.Incorrect
1, 2 and 3 are correct.
The RBI Act instructs that all commercial banks (and some other specified institutions) in the country have to keep a given proportion of their demand and time deposits (NDTL or net demand and time liabilities) as liquid assets in their own vault. This is called statutory liquidity ratio.
The word statutory here means that it is a legal requirement and liquid asset means assets in the form of cash, gold and approved securities (government securities) or even SGBs. -
Question 3 of 5
3. Question
1 pointsWhich of the following is correct regrading ‘double coincidence of wants’?
Correct
Double coincidence of wants is a situation where two economic agents have complementary demand for each other’s surplus production.
It is an economic phenomenon where two parties each hold an item the other wants, so they exchange these items directly without any monetary medium. This type of exchange is the foundation of a bartering economy.Incorrect
Double coincidence of wants is a situation where two economic agents have complementary demand for each other’s surplus production.
It is an economic phenomenon where two parties each hold an item the other wants, so they exchange these items directly without any monetary medium. This type of exchange is the foundation of a bartering economy. -
Question 4 of 5
4. Question
1 pointsBalance of Payments (BoP) consist of which of the following items?
1. Any borrowing of the Government of India from abroad
2. Trade Balance
3. FDI and FII received annually
Select the correct answer codeCorrect
1, 2 and 3 are correct.
BoP consists of current account and capital account. Current account includes trade, invisibles, remittances etc.
Capital account includes borrowings and long-term investments/debts of residents/foreigners with India.
Capital inflows like FDI, FII help bridge the trade deficit and neutralize BoP.Incorrect
1, 2 and 3 are correct.
BoP consists of current account and capital account. Current account includes trade, invisibles, remittances etc.
Capital account includes borrowings and long-term investments/debts of residents/foreigners with India.
Capital inflows like FDI, FII help bridge the trade deficit and neutralize BoP. -
Question 5 of 5
5. Question
1 points1. Non-tax Payments such as fines
2. Corporate Tax.
3. Personal Tax Payments.
4. Net Interest payments made by households
Select the correct answer codeCorrect
None of the above is correct.
None of them are part of Personal Disposable Income.
In economics, personal income (PI) refers to an individual’s total earnings from wages, investment enterprises, and other ventures. It is the sum of all the incomes received by all the individuals or household during a given period.
If we deduct the Personal Tax Payments (income tax, for example) and Non-tax Payments (such as fines) from PI, we obtain what is known as the Personal Disposable Income.
Personal Disposable Income (PDI) ≡ PI – Personal tax payments – Non-tax payments.Incorrect
None of the above is correct.
None of them are part of Personal Disposable Income.
In economics, personal income (PI) refers to an individual’s total earnings from wages, investment enterprises, and other ventures. It is the sum of all the incomes received by all the individuals or household during a given period.
If we deduct the Personal Tax Payments (income tax, for example) and Non-tax Payments (such as fines) from PI, we obtain what is known as the Personal Disposable Income.
Personal Disposable Income (PDI) ≡ PI – Personal tax payments – Non-tax payments.
Leaderboard: 3rd Nov 2023 | Prelims Daily with Previous Year Questions
| Pos. | Name | Entered on | Points | Result |
|---|---|---|---|---|
| Table is loading | ||||
| No data available | ||||
UPSC 2024 countdown has begun! Get your personal guidance plan now! (Click here)
