Update:
The solutions for this mock are now available in a downloadable pdf. We have tried to make them as detailed as possible and included references and user comments wherever possible. Download link.
“So, let us begin this week with ECOPOL 🙂 Let us see if you just read through the news and events or went a step further to dig some background information about them to stay many steps ahead of your competitors!”
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Note #2: We encourage the test takers to elaborate on their answers in their comments below. That helps us have a better discussion and we will chip in to clarify your doubts or give more information.
1. Consider the following statements:
1. Rural Employment Generation Programme was launched during 1985-86 to provide self-employment opportunities in rural areas.
2. Swarnajayanti Gram Swarozgar Yojana was launched during 1995-96 to bring assisted poor families above the poverty line.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
2. Which of the following terms indicates a mechanism used by commercial banks for providing credit to the government?
(a) Cash Reserve Ratio
(b) Statutory Liquidity Ratio
(c) Debt Service Obligation
(d) Liquidity Adjustment Facility
3. Which of the following is/are among the indicators used to measure gender inequality in the Gender Inequality Index, introduced in the Global Human Development Report 2010?
1. Maternal Mortality Rate
2. Access to legal system
3. Participation in Labour force
4. Education level
Choose the correct alternative using the codes given below.
(a) 1, 3 and 4 only
(b) 1, 2 and 4 only
(c) 2 and 3 only
(d) 1, 2, 3 and 4
4. Which of the region/grouping of countries has the highest share in overall remittances to India?
(a) EU
(b) North America
(c) GCC
(d) East Asia
5. Which of the following constitute the capital receipts of the central government?
1. Grants from foreign countries
2. Recovery of loans from state governments
3. Resale of shares of Public Sector Undertakings
4. Interest income on the loans extended by it
Choose the correct alternative using the codes given below:
(a) 2 and 3 only
(b) 1, 2 and 3 only
(c) 2, 3 and 4 only
(d) 1 and 4 only
6. Which of the following is/are the tools of ‘Fiscal Policy’?
1. Open Market Operations
2. Taxation
3. Public Expenditure
Choose the correct alternative using the codes given below.
(a) 3 only
(b) 2 and 3 only
(c) 1 and 2 only
(d) 1, 2 and 3
7. ‘Theory of Surplus Value’ is a characteristic feature of which of the following political theories?
(a) Liberalism
(b) Gandhism
(c) Welfareism
(d) Marxism
8. Consider the following statements with respect to the Indian political system:
1. The Cabinet is responsible to the Lok Sabha only.
2. The President is the Head of the State.
3. Every state has equal representation in the Rajya Sabha.
Which of the above statements is/are correct?
(a) 1 and 3 only
(b) 2 only
(c) 1 and 2 only
(d) 1, 2 and 3
9. Which of the following provisions of the Indian Constitution work to protect, preserve and uphold the inviolability of human right in India?
1. Fundamental Rights
2. Directive Principles of State Policy
Choose the correct alternative using the codes given below.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
10. In case of states with bicameral legislature, if a money bill passed by the lower house goes to the upper house and no action is taken on it by the upper house for 14 days then the bill
(a) is deemed to have lapsed
(b) is referred to the joint sitting of the state legislature
(c) is deemed to have passed in the form in which it was passed by the lower house
(d) is referred to the Governor for his/her interjection in the matter
11. Which of the following were among the founding member countries of ASEAN?
1. Malaysia
2. Philippines
3. Singapore
4. Indonesia
5. Thailand
Choose the correct alternative using the codes given below.
(a) 2, 3 and 4
(b) 1, 2 and 5
(c) 1, 3, 4 and 5
(d) 1, 2, 3, 4 and 5
12. Which/Who of the following is regarded as the protector and guarantor of the Fundamental Rights enshrined in the Indian constitution?
(a) Supreme Court
(b) President
(c) Parliament
(d) Prime Minister’s Office
13. When the Lok Sabha is dissolved
(a) the Speaker tenders its resignation
(b) the Speaker is removed by an Presidential order
(c) the Speaker continues to hold its position till its successor is elected
(d) the Speaker is removed by a resolution passed in the upper House
14. Which of the following make a part of the Money Stock of an economy?
1. Demand deposits held with commercial banks
2. Currency notes
3. Deposits of commercial banks with the central bank
Choose the correct alternative using the codes given below.
(a) 1 and 2 only
(b) 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
15. The Legal reserves of a commercial bank are maintained with the
(a) central bank only
(b) commercial bank itself and the central bank
(c) central bank and the government
(d) commercial bank itself
16. ‘Stagflation’ is characterised by
(a) High inflation and High unemployment
(b) Low inflation and High unemployment
(c) Low inflation and Low unemployment
(d) High inflation and Low unemployment
17. Foreign Direct Investment (FDI) under the automatic route requires prior approval by the
1. Central Government
2. Reserve Bank of India
Choose the correct alternative using the codes given below.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
18. Which one of the following statements is/are not correct?
1. Index of Industrial Production (IIP) is released on a monthly basis only.
2. IIP is released by the Central Statistics Office.
3. Electricity has highest weightage among the indicators used to calculate IIP.
Choose the correct alternative using the codes given below.
(a) 3 only
(b) 1 and 3 only
(c) 2 only
(d) 1, 2 and 3
19. The World Investment Report is brought out by
(a) WTO
(b) IMF
(c) UNCTAD
(d) WEF
20. Which of the following best describes the ‘Bank Rate’?
(a) It is the minimum rate at which commercial banks can advance loans to the clients
(b) It is the rate charged by the central bank for lending funds to the commercial banks
(c) It is the rate that a commercial bank charges from another commercial bank for providing overnight funds to the later
(d) It is the rate which the central bank provides to the commercial bank for parking their surplus funds with the former
21. Which of the following is not a fundamental duty as envisioned in the Indian constitution?
(a) To protect the natural environment
(b) To safeguard public property
(c) To participate in electoral process
(d) To develop scientific temper
22. To protect the domestic industries against the onslaught of unfair competition from cheap imports, anti dumping duty is recommended by the
(a) Ministry of Commerce
(b) Prime Minister’s Office
(c) Ministry of Finance
(d) Confederation of Indian Industry
23. Consider the following statements:
1. A person cannot be appointed the administrator of more then one Union Territory concurrently.
2. Governor of a state cannot be appointed the administrator of a Union Territory concurrently.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
24. Consider the following statements:
1. NITI Aayog is an attached office of the PMO.
2. Department of Space works under the administrative control of Ministry of Science and Technology.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
25. Which of the following departments is/are engaged in the protection of intellectual property rights in India?
1. Department of Industrial Policy and Promotion
2. Department of Higher Education
3. Department of Information Technology
4. Department of Agriculture and Cooperation
Which of the above statements is/are correct?
(a) 1 and 2 only
(b) 1, 2 and 4 only
(c) 3 and 4 only
(d) 1, 2, 3 and 4
