Questions for the Day:

Streak – Most Important Current Economic Edition for Prelims 2021 – Sukanya

Q1) Select the correct statement/s in context to National Infrastructure Pipeline (NIP).

1. It includes economic as well as social infrastructure projects.

2. It aims to improve infrastructure project preparation and attract new investments both foreign and domestic.

A. 1 only

B. 2 only

C. Both 1 and 2

D. Neither 1 nor 2

Q2) Identify the correct statement/s in context to Engineering, Procurement and Construction (EPC) Model.

1. Under this model, the cost is completely borne by the government.

2. The private sector’s participation is limited to the provision of engineering expertise.

A. 1 only

B. 2 only

C. Both 1 and 2

D. Neither 1 nor 2

Q3) Select the correct statement/s regarding Government Owned Contractor Operated (GOCO) model.

1. This model was recommended by the Shekatkar committee.

2. Under the model, the private companies will make investments on land, machinery and other support systems.

A. 1 only

B. 2 only

C. Both 1 and 2

D. Neither 1 nor 2

Q4) Which among the following subsides is/are considered to be part of Amber Box Subsidies under the Agreement on Agriculture (AoA)?

1. Minimum Support Price (MSP)

2. Income support through PM-KISAN(Pradhan Mantri Kisan Samman Nidhi)

3. Financial Support for Agricultural Universities to enhance R&D.

Select the correct answer using the code given below:

A. 1 only

B. 1 and 2 only

C. 1 and 3 only

D. 1, 2 and 3

Q5) Which among the following agencies has recently published the “Digital Payments Index”?

A. National Payment Corporation of India (NPCI)

B. Reserve Bank of India

C. Ministry of Finance

D. Indian Banks Association

Streak – Most Important Economic Edition for Prelims 2021 -Santosh

Q1) Which of the following given below are the cost push factors of inflation?
1. Rise in population.
2. Black money.
3. Rise in income.
4. Excessive government expenditure.
Select the correct answer using the codes given below:

A. 1, 2 and 3 only

B. 2, 3 and 4 only

C. 1, 2 and 4 only

D. None of the above 

Q2) Which of the statements given below is/are correct?
1. Deflationary gap is a situation which arises when Aggregate demand in an economy exceeds the Aggregate supply at the full employment level.
2. Inflationary Gap is a situation which arises when Aggregate demand in the economy falls short of Aggregate Supply at the full employment level.
Select the correct answer using the codes given below 

A. 1 only

B. 2 only

C. 1 and 2 both

D. None of them

Q3) Which of the statements given below is/are correct?
1. Stagflation is a situation in which there is a high inflation rate along with a high rate of unemployment.
2. The Phillips curve highlights the directly proportional relationship between inflation and unemployment.
Select the correct answer using the codes given below 

A. 1 only

B. 2 only

C. 1 and 2 both

D. None of them

Q4) Consider the following statements
1. Contractionary Fiscal policy involves cutting taxes or raising government spending to reduce the inflationary pressures in the economy.
2. Expansionary Fiscal Policy is adopted during the period of boom.
Which of the statements given above is/are correct?

A. 1 only

B. 2 only

C. 1 and 2 both

D. None of them

Q5) Consider the following statements
1. Fiscal drag is a concept where inflation and earnings growth bring taxpayers out of the higher tax brackets.
2. Tax buoyancy is result of fiscal drag.
Which of the statements given above is/are correct?

A. 1 only

B. 2 only

C. 1 and 2 both

D. None of them