UPSC Level 2 Economics Pre Quiz #2

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Chief Mentor at Oracle IAS

Hemant Bhatt is a B. Tech from Pantnagar University and has studied Social Sciences at SciencesPo, Paris. He teaches at Oracle IAS, Dehradun.
He is a bibliophile and a fitness enthusiast.

#1. The value of money varies?

directly with the, interest rate

directly with the price level

directly with the volume of employment

inversely with the price level

#2. Consider the following statements : 1. Mid-day Meal scheme is fnanced and managed by Ministry of Human Resource Development. 2. Mid-day Meal is connected to right to food. 3. It is world’s largest school feeding programme. Which of the above statements are correct?

1 and 2

1and 3

2 and 3

1, 2 and 3

#3. Which of the following are included in the category of direct tax in India? 1. Corporation tax 2. Tax on income 3. Wealth tax 4. Customs duty 5. Excise duty.Select the correct answer using the codes given below

1, 2 and 3

1, 2, 4 and 5

2 and 3

1, 3, 4 and 5

#4. The prices at which the government purchases food grains for maintaining the public distribution system and for building buffer stock is known as?

Minimum support prices

Maximum Procurement prices

Issue prices

Ceiling prices

#5. In the parlance of fnancial investment, the term bear denotes:

an investor, who feels that the price of a particular security is going to fall

an investor, who expects the price of a particular share to rise

a shareholder, who has an interest in a company, fnancially or otherwise

any lender, whether by making a loan or buying a bond

#6. Which one of the following is not an immediate indicator of Industrial Sickness?

Drop in proftability

Labour unrest

Shrinking of market credit

Decline in market share

#7. Which one among the following is an appropriate description of deﬂation?

it is a sudden fall in the value of a currency against other currencies

It is a persistent recession in the economy

It is a persistent fall in the general price level of goods and services

It is fall in the rate of inﬂation over a period of time

#8. Consider the following indicators : 1. Life expectancy at birth 2. Adult literacy rate 3. Infant mortality rate Which of these are taken into account while preparing the Human Development Index in India?

1 and 2

1 and 3

2 and 3

1, 2 and 3 all

#9. The concept which tries to ascertain the actual defcit in the revenue account after adjusting for expenditure of capital nature is termed as ?

revenue defcit

effective revenue defcit

fiscal defcit

primary defcit

#10. Consider the following statements about MNREGA (Mahatma Gandhi National Rural Employment Guarantee Act 2005) : 1. It is applicable in rural areas. 2. It gives a guaranteed employment of 100 days to all eligible and willing to take it. 3. For tribals, it provides guaranteed employment of 150 days. 4. It is applicable for men only women do not get the beneft. Which among the above is/are correct statements?

1, 2 and 3

1, 2 and 4

1 and 2

1, 2, 3 and 4

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Author
Recent Posts

Hemant Bhatt

Chief Mentor at Oracle IAS

Hemant Bhatt is a B. Tech from Pantnagar University and has studied Social Sciences at SciencesPo, Paris. He teaches at Oracle IAS, Dehradun.
He is a bibliophile and a fitness enthusiast.