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Yield is measured as:- a) Crop produced on a given piece of land during a single year
- b) Crop produced on a given piece of land during a single season
- c) Crop produced and wasted on a given piece of land during a single season
- d) Crop produced on a given piece of land during a single decade
Correct answer is option 'B'. Can you explain this answer?
Yield is measured as:
a)
Crop produced on a given piece of land during a single year
b)
Crop produced on a given piece of land during a single season
c)
Crop produced and wasted on a given piece of land during a single season
d)
Crop produced on a given piece of land during a single decade
|
Vikram Kapoor answered |
- To grow more than one crop on a piece of land during the year is known as multiple cropping.
- It is the most common way of increasing production on a given piece of land. You have seen that one way of increasing production from the same land is by multiple cropping.
- The other way is to use modern farming methods for higher yield. Yield is measured as crop produced on a given piece of land during a single season.
Which of the following are the biotic elements.1. Birds2. Animals3. AirWhich of the statement/statements is/are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'A'. Can you explain this answer?
Which of the following are the biotic elements.
1. Birds
2. Animals
3. Air
Which of the statement/statements is/are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
Kavita Shah answered |
- Environment is defined as the total planetary inheritance and the totality of all resources. It includes all the biotic and abiotic factors that influence each other.
- While all living elements—the birds, animals and plants, forests, fisheries etc.—are biotic elements, abiotic elements include air, water, land etc. Rocks and sunlight are all examples of abiotic elements of the environment.
- A study of the environment then calls for a study of the inter- relationship between these biotic and abiotic components of the environment.
Consider the following statements.1. Absorptive capacity means the ability of the environment to absorb degradation2. Today many resources have become extinct and the wastes generated are beyond the absorptive capacity of the environmentWhich of these statement/statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements.
1. Absorptive capacity means the ability of the environment to absorb degradation
2. Today many resources have become extinct and the wastes generated are beyond the absorptive capacity of the environment
Which of these statement/statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
Ojasvi Mehta answered |
- The rising population of the developing countries and the affluent consumption and production standards of the developed world have placed a huge stress on the environment in respect of its functions.
- Many resources have become extinct and the wastes generated are beyond the absorptive capacity of the environment. Absorptive capacity means the ability of the environment to absorb degradation.
- The result — we are today at the threshold of environmental crisis. The past development has polluted and dried up rivers and other aquifers making water an economic good.
Assertion: All the capital goods produced in a year constitute an addition to the capital stock already existingReason: The already existing capital stock suffers wear and tear and needs maintenance and replacementSelect the correct code:- a) Both A and R are true and R is the correct explanation of A.
- b) Both A and R are true but R is not a correct explanation of A.
- c) A is true but R is false.
- d) A is false but R is true.
Correct answer is option 'D'. Can you explain this answer?
Assertion: All the capital goods produced in a year constitute an addition to the capital stock already existing
Reason: The already existing capital stock suffers wear and tear and needs maintenance and replacement
Select the correct code:
a)
Both A and R are true and R is the correct explanation of A.
b)
Both A and R are true but R is not a correct explanation of A.
c)
A is true but R is false.
d)
A is false but R is true.
|
Meera Kapoor answered |
- Part of our final output that comprises capital goods constitutes gross investment of an economy. These may be machines, tools and implements; buildings, office spaces, storehouses or infrastructure like roads, bridges, airports or jetties.
- But all the capital goods produced in a year do not constitute an addition to the capital stock already existing. A significant part of current output of capital goods goes in maintaining or replacing part of the existing stock of capital goods. This is because the already existing capital stock suffers wear and tear and needs maintenance and replacement.
- A part of the capital goods produced this year goes for replacement of existing capital goods and is not an addition to the stock of capital goods already existing and its value needs to be subtracted from gross investment for arriving at the measure for net investment.
Consider the following statements.
1. Money also acts as a convenient unit of account
2. The value of all goods and services can be expressed in monetary units
3. It is difficult to carry forward one’s wealth under the barter system
Which of these statements are correct?
- a)1 and 2 Only
- b)2 and 3 Only
- c)All of them
- d)1 and 3 Only
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements.
1. Money also acts as a convenient unit of account
2. The value of all goods and services can be expressed in monetary units
3. It is difficult to carry forward one’s wealth under the barter system
Which of these statements are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
All of them
d)
1 and 3 Only
|
Anjali Rao answered |
- Money also acts as a convenient unit of account. The value of all goods and services can be expressed in monetary units. When we say that the value of a certain wristwatch is Rs 500 we mean that the wristwatch can be exchanged for 500 units of money, where a unit of money is rupee in this case.
- If the price of a pencil is Rs 2 and that of a pen is Rs 10 we can calculate the relative price of a pen with respect to a pencil, viz. a pen is worth 10 ÷ 2 = 5 pencils. The same notion can be used to calculate the value of money itself with respect to other commodities. In the above example, a rupee is worth 1 ÷ 2 = 0.5 pencil or 1 ÷ 10 = 0.1 pen.
- Thus if prices of all commodities increase in terms of money i.e., there is a general increase in the price level, the value of money in terms of any commodity must have decreased – in the sense that a unit of money can now purchase less of any commodity. We call it a deterioration in the purchasing power of money.
Consider the following statements.1. The food procured by the FCI is distributed through every ration shops among the poorer section of the society2. Ration shops also known as Fair Price ShopsWhich of the statements/statements are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'B'. Can you explain this answer?
Consider the following statements.
1. The food procured by the FCI is distributed through every ration shops among the poorer section of the society
2. Ration shops also known as Fair Price Shops
Which of the statements/statements are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
Deepa Iyer answered |
- The food procured by the FCI is distributed through government regulated ration shops among the poorer section of the society.
- This is called the Public Distribution System (PDS). Ration shops are now present in most localities, villages, towns and cities. There are about 5.5 lakh ration shops all over the country. Ration shops also, known as Fair Price Shops, keep stock of foodgrains, sugar, and kerosene for cooking.
Consider the following statements about Global Warming.1. It is caused by man-made increases in carbon dioxide and other greenhouse gases through the burning of fossil fuels and deforestation2. It is a gradual increase in the average temperature of the earth’s lower atmosphere as a result of the increase in greenhouse gases since the Industrial RevolutionWhich of the statement/statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements about Global Warming.
1. It is caused by man-made increases in carbon dioxide and other greenhouse gases through the burning of fossil fuels and deforestation
2. It is a gradual increase in the average temperature of the earth’s lower atmosphere as a result of the increase in greenhouse gases since the Industrial Revolution
Which of the statement/statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
Zara Khan answered |
- Global warming is a gradual increase in the average temperature of the earth’s lower atmosphere as a result of the increase in greenhouse gases since the Industrial Revolution. Much of the recently observed and projected global warming is human-induced.
- It is caused by man-made increases in carbon dioxide and other greenhouse gases through the burning of fossil fuels and deforestation. Adding carbon dioxide, methane and such other gases (that have the potential to absorb heat) to the atmosphere with no other changes make our planet’s surface warmer.
Assertion: The first seven five year plans gave importance to self-reliance which means avoiding imports of those goods which could be produced in India itselfReason: It was feared that dependence on imported food supplies, foreign technology and foreign capital may make India’s sovereignty vulnerable to foreign interference in our policies.Select the correct code:- a) Both A and R are true and R is the correct explanation of A.
- b) Both A and R are true but R is not a correct explanation of A.
- c) A is true but R is false.
- d) A is false but R is true
Correct answer is option 'A'. Can you explain this answer?
Assertion: The first seven five year plans gave importance to self-reliance which means avoiding imports of those goods which could be produced in India itself
Reason: It was feared that dependence on imported food supplies, foreign technology and foreign capital may make India’s sovereignty vulnerable to foreign interference in our policies.
Select the correct code:
a)
Both A and R are true and R is the correct explanation of A.
b)
Both A and R are true but R is not a correct explanation of A.
c)
A is true but R is false.
d)
A is false but R is true
|
Hitbullseye Cat answered |
- Self-reliance: A nation can promote economic growth and modernisation by using its own resources or by using resources imported from other nations. The first seven five year plans gave importance to self-reliance which means avoiding imports of those goods which could be produced in India itself.
- This policy was considered a necessity in order to reduce our dependence on foreign countries, especially for food. It is understandable that people who were recently freed from foreign domination should give importance to self-reliance.
- Further, it was feared that dependence on imported food supplies, foreign technology and foreign capital may make India’s sovereignty vulnerable to foreign interference in our policies.
Consider the following statements. 1. When GDP rises, disposable income also rises but by less than the rise in GDP because a part of it is siphoned off as taxes2. During a recession when GDP falls, disposable income falls less sharply, and consumption drop as much as it otherwise would have fallen had the tax liability been fixedWhich of these statements are correct?- a) 1 Only
- b) 2 Only
- c) Both of them
- d) Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Consider the following statements.
1. When GDP rises, disposable income also rises but by less than the rise in GDP because a part of it is siphoned off as taxes
2. During a recession when GDP falls, disposable income falls less sharply, and consumption drop as much as it otherwise would have fallen had the tax liability been fixed
Which of these statements are correct?
a)
1 Only
b)
2 Only
c)
Both of them
d)
Neither 1 nor 2
|
Rahul Choudhury answered |
- When GDP rises, disposable income also rises but by less than the rise in GDP because a part of it is siphoned off as taxes. This helps limit the upward fluctuation in consumption spending.
- During a recession when GDP falls, disposable income falls less sharply, and consumption does not drop as much as it otherwise would have fallen had the tax liability been fixed. This reduces the fall in aggregate demand and stabilises the economy.
Which of the following are correctly matched?1. Occasionally poor - who are rich most of the time but may sometimes have a patch of bad luck2. Churning poor - who regularly move in and out of poverty3. Chronic poor - Who may sometimes have a little more money - a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'D'. Can you explain this answer?
Which of the following are correctly matched?
1. Occasionally poor - who are rich most of the time but may sometimes have a patch of bad luck
2. Churning poor - who regularly move in and out of poverty
3. Chronic poor - Who may sometimes have a little more money
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
|
Meera Kapoor answered |
- Categorising Poverty: There are many ways to categorise poverty. In one such way people who are always poor and those who are usually poor but who may sometimes have a little more money (example: casual workers) are grouped together as the chronic poor.
- Another group are the churning poor who regularly move in and out of poverty (example: small farmers and seasonal workers) and the occasionally poor who are rich most of the time but may sometimes have a patch of bad luck. They are called the transient poor. And then, there are those who are never poor and they are the non-poor.
Consider the following statements. 1. NDP at Factor Cost measure allows policy-makers to estimate how much the country has to spend just to maintain their current GDP2. If the country is not able to replace the capital stock lost through depreciation, then GDP will fallWhich of these statements are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'B'. Can you explain this answer?
Consider the following statements.
1. NDP at Factor Cost measure allows policy-makers to estimate how much the country has to spend just to maintain their current GDP
2. If the country is not able to replace the capital stock lost through depreciation, then GDP will fall
Which of these statements are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
Tanishq Roy answered |
Explanation:
Both statements are incorrect. Let's analyze each statement individually:
Statement 1: NDP at Factor Cost measure allows policy-makers to estimate how much the country has to spend just to maintain their current GDP.
This statement is incorrect. NDP at Factor Cost is a measure used to estimate the net value of national income generated within a country during a specific period. It is calculated by deducting depreciation (i.e., the amount of capital stock lost) from the Gross Domestic Product (GDP). NDP at Factor Cost represents the actual income earned by the factors of production (i.e., labor and capital) within a country. It does not provide information about how much the country has to spend to maintain its current GDP. Therefore, statement 1 is incorrect.
Statement 2: If the country is not able to replace the capital stock lost through depreciation, then GDP will fall.
This statement is also incorrect. Depreciation refers to the decrease in the value of capital stock over time due to wear and tear, obsolescence, or any other factors. While depreciation can have an impact on the productivity and efficiency of capital, it does not directly determine the GDP. GDP is a measure of the total value of goods and services produced within a country's borders during a specific period. It is influenced by various factors such as consumption, investment, government spending, and net exports. Therefore, the inability to replace the capital stock lost through depreciation may affect the long-term growth potential of an economy, but it does not necessarily lead to an immediate fall in GDP. Hence, statement 2 is incorrect.
In conclusion, neither statement 1 nor statement 2 is correct.
Both statements are incorrect. Let's analyze each statement individually:
Statement 1: NDP at Factor Cost measure allows policy-makers to estimate how much the country has to spend just to maintain their current GDP.
This statement is incorrect. NDP at Factor Cost is a measure used to estimate the net value of national income generated within a country during a specific period. It is calculated by deducting depreciation (i.e., the amount of capital stock lost) from the Gross Domestic Product (GDP). NDP at Factor Cost represents the actual income earned by the factors of production (i.e., labor and capital) within a country. It does not provide information about how much the country has to spend to maintain its current GDP. Therefore, statement 1 is incorrect.
Statement 2: If the country is not able to replace the capital stock lost through depreciation, then GDP will fall.
This statement is also incorrect. Depreciation refers to the decrease in the value of capital stock over time due to wear and tear, obsolescence, or any other factors. While depreciation can have an impact on the productivity and efficiency of capital, it does not directly determine the GDP. GDP is a measure of the total value of goods and services produced within a country's borders during a specific period. It is influenced by various factors such as consumption, investment, government spending, and net exports. Therefore, the inability to replace the capital stock lost through depreciation may affect the long-term growth potential of an economy, but it does not necessarily lead to an immediate fall in GDP. Hence, statement 2 is incorrect.
In conclusion, neither statement 1 nor statement 2 is correct.
Consider the following statements about National Rural Employment Guarantee Act 2005 (NREGA 2005). 1. Under NREGA 2005, all those who are able to, and are in need of, work are guaranteed 100 days of employment in a year by the government2. If the government fails in its duty to provide employment, it will give unemployment allowances to the people3. The types of work that would in future help to increase the production from land will be given preference under the ActWhich of the statements is/are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'D'. Can you explain this answer?
Consider the following statements about National Rural Employment Guarantee Act 2005 (NREGA 2005).
1. Under NREGA 2005, all those who are able to, and are in need of, work are guaranteed 100 days of employment in a year by the government
2. If the government fails in its duty to provide employment, it will give unemployment allowances to the people
3. The types of work that would in future help to increase the production from land will be given preference under the Act
Which of the statements is/are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
Madhavan Mehta answered |
Overview of NREGA 2005
The National Rural Employment Guarantee Act (NREGA) 2005, now known as the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), was enacted to enhance livelihood security in rural areas by providing a legal guarantee for at least 100 days of unskilled wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work.
Statement Analysis
1. Employment Guarantee
- Under NREGA 2005, every rural household is guaranteed 100 days of employment in a financial year for those who are able and in need of work. This ensures a safety net for rural workers.
2. Unemployment Allowance
- If the government fails to provide the guaranteed employment within the stipulated time frame, it is obligated to pay an unemployment allowance to the applicants. This provision safeguards the rights of rural workers and ensures accountability.
3. Preference for Productive Work
- The Act prioritizes works that can enhance land productivity and contribute to sustainable development. This aligns with the broader goal of improving agricultural productivity and rural infrastructure.
Conclusion
All three statements are correct as they accurately reflect the provisions and intents of NREGA 2005.
- The Act provides a guarantee of employment.
- It mandates unemployment allowances if the government fails to provide work.
- It emphasizes productive work that would aid in increasing agricultural production.
Thus, the correct answer is option 'D': All of them.
The National Rural Employment Guarantee Act (NREGA) 2005, now known as the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), was enacted to enhance livelihood security in rural areas by providing a legal guarantee for at least 100 days of unskilled wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work.
Statement Analysis
1. Employment Guarantee
- Under NREGA 2005, every rural household is guaranteed 100 days of employment in a financial year for those who are able and in need of work. This ensures a safety net for rural workers.
2. Unemployment Allowance
- If the government fails to provide the guaranteed employment within the stipulated time frame, it is obligated to pay an unemployment allowance to the applicants. This provision safeguards the rights of rural workers and ensures accountability.
3. Preference for Productive Work
- The Act prioritizes works that can enhance land productivity and contribute to sustainable development. This aligns with the broader goal of improving agricultural productivity and rural infrastructure.
Conclusion
All three statements are correct as they accurately reflect the provisions and intents of NREGA 2005.
- The Act provides a guarantee of employment.
- It mandates unemployment allowances if the government fails to provide work.
- It emphasizes productive work that would aid in increasing agricultural production.
Thus, the correct answer is option 'D': All of them.
Consider the following statements about Academy of Development Science (ADS).1. ADS organises training and capacity building programmes on food security for NGOs.2. ADS is working to set up Grain Banks, to facilitate replication through other NGOs and to influence the Government’s policy on food security.Which of the statements/statements are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements about Academy of Development Science (ADS).
1. ADS organises training and capacity building programmes on food security for NGOs.
2. ADS is working to set up Grain Banks, to facilitate replication through other NGOs and to influence the Government’s policy on food security.
Which of the statements/statements are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
|
Vikram Kapoor answered |
Both the statements are correct.
Consider the following statements regarding the consequences of the British rule in India.1. India became an exporter of primary products such as raw silk, cotton, wool, sugar, indigo, jute etc.2. India became an importer of finished consumer goods like cotton, silk and woolen clothes and capital goods.Which of the statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements regarding the consequences of the British rule in India.
1. India became an exporter of primary products such as raw silk, cotton, wool, sugar, indigo, jute etc.
2. India became an importer of finished consumer goods like cotton, silk and woolen clothes and capital goods.
Which of the statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
Neither 1 nor 2
|
Eshaan Kapoor answered |
- India became an exporter of primary products such as raw silk, cotton, wool, sugar, indigo, jute etc. and an importer of finished consumer goods like cotton, silk and woollen clothes and capital goods like light machinery produced in the factories of Britain.
- For all practical purposes, Britain maintained a monopoly control over India’s exports and imports. As a result, more than half of India’s foreign trade was restricted to Britain while the rest was allowed with a few other countries like China, Ceylon (Sri Lanka) and Persia (Iran).
- The opening of the Suez Canal further intensified British control over India’s foreign trade. The most important characteristic of India’s foreign trade throughout the colonial period was the generation of a large export surplus. But this surplus came at a huge cost to the country’s economy.
Consider the following statements.1. Investment decisions by producers, such as whether to buy a new machine, depend, to a large extent, on the market rate of interest2. Machines produced in an economy in a given year are not ‘used up’ to produce other goods but yield their services over a number of yearsWhich of these statements are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements.
1. Investment decisions by producers, such as whether to buy a new machine, depend, to a large extent, on the market rate of interest
2. Machines produced in an economy in a given year are not ‘used up’ to produce other goods but yield their services over a number of years
Which of these statements are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
|
Kavita Mehta answered |
- Investment is defined as addition to the stock of physical capital (such as machines, buildings, roads etc., i.e. anything that adds to the future productive capacity of the economy) and changes in the inventory (or the stock of finished goods) of a producer.
- Note that ‘investment goods’ (such as machines) are also part of the final goods – they are not intermediate goods like raw materials. Machines produced in an economy in a given year are not ‘used up’ to produce other goods but yield their services over a number of years.
- Investment decisions by producers, such as whether to buy a new machine, depend, to a large extent, on the market rate of interest. However, for simplicity, we assume here that firms plan to invest the same amount every year.
Consider the following statements.1. When the income is being spent on the goods and services produced by the firms, it takes the form of aggregate expenditure received by the firms2. When the aggregate revenue received by the firms is paid out to the factors of production it takes the form of aggregate incomeWhich of these statements are correct?- a) 1 Only
- b) 2 Only
- c) Both of them
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements.
1. When the income is being spent on the goods and services produced by the firms, it takes the form of aggregate expenditure received by the firms
2. When the aggregate revenue received by the firms is paid out to the factors of production it takes the form of aggregate income
Which of these statements are correct?
a)
1 Only
b)
2 Only
c)
Both of them
d)
None of them
|
|
Meera Kapoor answered |
- When the income is being spent on the goods and services produced by the firms, it takes the form of aggregate expenditure received by the firms.
- Since the value of expenditure must be equal to the value of goods and services, we can equivalently measure the aggregate income by “calculating the aggregate value of goods and services produced by the firms”.
- When the aggregate revenue received by the firms is paid out to the factors of production it takes the form of aggregate income.
In context of widespread poverty in India, consider the following statements.1. One historical reason is the low level of economic development under the British colonial administration2. The policies of the colonial government ruined traditional handicrafts and discouraged development of industries like textiles3. With the spread of irrigation and the Green revolution, many job opportunities were created in the agriculture sector in the whole IndiaWhich of these statements are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'A'. Can you explain this answer?
In context of widespread poverty in India, consider the following statements.
1. One historical reason is the low level of economic development under the British colonial administration
2. The policies of the colonial government ruined traditional handicrafts and discouraged development of industries like textiles
3. With the spread of irrigation and the Green revolution, many job opportunities were created in the agriculture sector in the whole India
Which of these statements are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
Anuj Kumar answered |
Explanation:
India has a long history of poverty, and there are many reasons for it. The following statements can explain some of the reasons:
1. Low level of economic development under British colonial administration:
During the British colonial period, India was essentially an agrarian economy. The British policies led to the deindustrialization of India, which heavily impacted the traditional handicrafts and led to a decline in economic activities.
2. Ruin of traditional handicrafts and discouragement of industries like textiles:
The British colonial government introduced policies which hurt the traditional handicrafts and textile industries. For instance, they imposed high tariffs on Indian textiles, which made it difficult for them to compete with British textiles. This led to a decline in the textile industry in India and left millions of people without jobs.
3. Creation of job opportunities in the agriculture sector:
The spread of irrigation and the Green revolution created many job opportunities in the agriculture sector across India. However, this was not enough to solve the problem of poverty in India since the majority of the population was still engaged in agriculture, and the sector was heavily dependent on monsoon.
Therefore, option 'A' is the correct answer as statements 1 and 2 are correct. Statement 3 is not entirely correct since although it created job opportunities, it was not enough to eradicate poverty in India.
India has a long history of poverty, and there are many reasons for it. The following statements can explain some of the reasons:
1. Low level of economic development under British colonial administration:
During the British colonial period, India was essentially an agrarian economy. The British policies led to the deindustrialization of India, which heavily impacted the traditional handicrafts and led to a decline in economic activities.
2. Ruin of traditional handicrafts and discouragement of industries like textiles:
The British colonial government introduced policies which hurt the traditional handicrafts and textile industries. For instance, they imposed high tariffs on Indian textiles, which made it difficult for them to compete with British textiles. This led to a decline in the textile industry in India and left millions of people without jobs.
3. Creation of job opportunities in the agriculture sector:
The spread of irrigation and the Green revolution created many job opportunities in the agriculture sector across India. However, this was not enough to solve the problem of poverty in India since the majority of the population was still engaged in agriculture, and the sector was heavily dependent on monsoon.
Therefore, option 'A' is the correct answer as statements 1 and 2 are correct. Statement 3 is not entirely correct since although it created job opportunities, it was not enough to eradicate poverty in India.
Consider the following statements.1. We compare the average income which is the total income of the country divided by its total population2. The average income is also called per capita incomeWhich of the statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements.
1. We compare the average income which is the total income of the country divided by its total population
2. The average income is also called per capita income
Which of the statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
|
Kavita Mehta answered |
- However, for comparison between countries, total income is not such a useful measure. Since, countries have different populations, comparing total income will not tell us what an average person is likely to earn.
- Are people in one country better off than others in a different country? Hence, we compare the average income which is the total income of the country divided by its total population.
- The average income is also called per capita income. In World Development Reports, brought out by the World Bank, this criterion is used in classifying. Countries with per capita income of US$ 12616 per annum and above in 2012, are called rich countries and those with per capita income of US$ 1035 or less are called low-income countries.
- India comes in the category of low middle income countries because its per capita income in 2012 was just US$ 1530 per annum. The rich countries, excluding countries of the Middle East and certain other small countries, are generally called developed countries.
Consider the following statements about the Reforms introduced in Indian Economy post – 1991.1. Reforms have not been able to benefit agriculture, where the growth rate has been decelerating2. The removal of fertiliser subsidy has led to decrease in the cost of production, which has severely affected the small and marginal farmers3. There has been a shift from production for the domestic market towards production for the export market focusing on cash cropsWhich of the statements is/are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements about the Reforms introduced in Indian Economy post – 1991.
1. Reforms have not been able to benefit agriculture, where the growth rate has been decelerating
2. The removal of fertiliser subsidy has led to decrease in the cost of production, which has severely affected the small and marginal farmers
3. There has been a shift from production for the domestic market towards production for the export market focusing on cash crops
Which of the statements is/are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
|
Ojasvi Mehta answered |
- Reforms in Agriculture: Reforms have not been able to benefit agriculture, where the growth rate has been decelerating.
- Public investment in the agriculture sector especially in infrastructure, which includes irrigation, power, roads, market linkages and research and extension (which played a crucial role in the Green Revolution), has fallen in the reform period.
- Further, the removal of fertiliser subsidy has led to increase in the cost of production, which has severely affected the small and marginal farmers.
- Moreover, because of export- oriented policy strategies in agriculture, there has been a shift from production for the domestic market towards production for the export market focusing on cash crops in lieu of production of food grains. This puts pressure on prices of food grains.
In India, regulatory mechanisms were enforced in various ways. Consider the following statements regarding it.1. Entrepreneur had to get permission from government officials to start a firm, close a firm or decide the amount of goods that could be produced2. Private sector was not allowed in many industries3. Some goods could be produced only in small-scale industriesWhich of the statements is/are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'D'. Can you explain this answer?
In India, regulatory mechanisms were enforced in various ways. Consider the following statements regarding it.
1. Entrepreneur had to get permission from government officials to start a firm, close a firm or decide the amount of goods that could be produced
2. Private sector was not allowed in many industries
3. Some goods could be produced only in small-scale industries
Which of the statements is/are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
Ashwin Choudhury answered |
Regulatory mechanisms in India during a particular period enforced various rules and restrictions on entrepreneurs and industries. The correct statements regarding these mechanisms are as follows:
1. Entrepreneurs needing permission from government officials:
In India, entrepreneurs were required to obtain permission from government officials to start a firm, close a firm, or determine the quantity of goods that could be produced. This means that any individual or group wishing to establish a business needed to seek approval from the government before commencing operations or making any significant changes. This control allowed the government to regulate the growth and functioning of businesses in the country.
2. Prohibition of private sector in many industries:
During this period, the private sector was not permitted to operate in several industries. The government adopted a policy of public ownership and control in key sectors such as defense, railways, telecommunications, and banking. This decision aimed to ensure that these critical sectors remained under government control and influence, thereby safeguarding national interests and strategic objectives.
3. Production limited to small-scale industries:
Certain goods were restricted to production only in small-scale industries. This policy was implemented to promote decentralized industrial growth and prevent the concentration of economic power in the hands of a few large-scale industries. It aimed to encourage small-scale entrepreneurs and create employment opportunities at the local level. By restricting the production of specific goods to small-scale industries, the government sought to foster inclusive and equitable economic development.
These regulatory mechanisms were part of the broader economic policies adopted by the Indian government during a specific period. They aimed to balance the interests of the state, protect national security, promote equitable growth, and exercise control over the private sector. The enforcement of these mechanisms had both positive and negative effects on the Indian economy, and their impact continues to shape the country's economic landscape.
1. Entrepreneurs needing permission from government officials:
In India, entrepreneurs were required to obtain permission from government officials to start a firm, close a firm, or determine the quantity of goods that could be produced. This means that any individual or group wishing to establish a business needed to seek approval from the government before commencing operations or making any significant changes. This control allowed the government to regulate the growth and functioning of businesses in the country.
2. Prohibition of private sector in many industries:
During this period, the private sector was not permitted to operate in several industries. The government adopted a policy of public ownership and control in key sectors such as defense, railways, telecommunications, and banking. This decision aimed to ensure that these critical sectors remained under government control and influence, thereby safeguarding national interests and strategic objectives.
3. Production limited to small-scale industries:
Certain goods were restricted to production only in small-scale industries. This policy was implemented to promote decentralized industrial growth and prevent the concentration of economic power in the hands of a few large-scale industries. It aimed to encourage small-scale entrepreneurs and create employment opportunities at the local level. By restricting the production of specific goods to small-scale industries, the government sought to foster inclusive and equitable economic development.
These regulatory mechanisms were part of the broader economic policies adopted by the Indian government during a specific period. They aimed to balance the interests of the state, protect national security, promote equitable growth, and exercise control over the private sector. The enforcement of these mechanisms had both positive and negative effects on the Indian economy, and their impact continues to shape the country's economic landscape.
What are the reasons that we include final goods only while measuring the final value of Economic activity of a country and not the intermediary goods?1. Final goods already includes the value of the intermediate goods that have entered into their production as inputs2. Counting them separately will lead to the error of double counting3. Counting them will highly exaggerate the final value of our economic activityWhich of these statements are not correct?- a) 1 Only
- b) 2 Only
- c) 3 Only
- d) None of them
Correct answer is option 'D'. Can you explain this answer?
What are the reasons that we include final goods only while measuring the final value of Economic activity of a country and not the intermediary goods?
1. Final goods already includes the value of the intermediate goods that have entered into their production as inputs
2. Counting them separately will lead to the error of double counting
3. Counting them will highly exaggerate the final value of our economic activity
Which of these statements are not correct?
a)
1 Only
b)
2 Only
c)
3 Only
d)
None of them
|
Avantika Chopra answered |
The correct answer is option 'D' - None of them.
Explanation:
1. Final goods already include the value of the intermediate goods that have entered into their production as inputs:
- This statement is correct. When we calculate the value of final goods, it already takes into account the value of intermediate goods that were used in their production. Including the value of intermediate goods separately would result in double counting, which would distort the actual value of economic activity.
2. Counting them separately will lead to the error of double counting:
- This statement is correct. If we were to count the value of intermediate goods separately, it would result in double counting. Intermediate goods are used in the production process and their value is already included in the final goods. Counting them separately would artificially inflate the value of economic activity.
3. Counting them will highly exaggerate the final value of our economic activity:
- This statement is incorrect. Counting the value of intermediate goods separately would not exaggerate the final value of economic activity. On the contrary, it would lead to an overestimation of economic activity due to double counting. Including the value of intermediate goods separately would result in an inflated GDP, which would not accurately reflect the true economic output of a country.
In conclusion, both statements 1 and 2 are correct, while statement 3 is incorrect. Final goods already include the value of intermediate goods, counting them separately would result in double counting and an overestimation of economic activity. Therefore, the inclusion of only final goods is necessary to measure the accurate value of economic activity in a country.
Explanation:
1. Final goods already include the value of the intermediate goods that have entered into their production as inputs:
- This statement is correct. When we calculate the value of final goods, it already takes into account the value of intermediate goods that were used in their production. Including the value of intermediate goods separately would result in double counting, which would distort the actual value of economic activity.
2. Counting them separately will lead to the error of double counting:
- This statement is correct. If we were to count the value of intermediate goods separately, it would result in double counting. Intermediate goods are used in the production process and their value is already included in the final goods. Counting them separately would artificially inflate the value of economic activity.
3. Counting them will highly exaggerate the final value of our economic activity:
- This statement is incorrect. Counting the value of intermediate goods separately would not exaggerate the final value of economic activity. On the contrary, it would lead to an overestimation of economic activity due to double counting. Including the value of intermediate goods separately would result in an inflated GDP, which would not accurately reflect the true economic output of a country.
In conclusion, both statements 1 and 2 are correct, while statement 3 is incorrect. Final goods already include the value of intermediate goods, counting them separately would result in double counting and an overestimation of economic activity. Therefore, the inclusion of only final goods is necessary to measure the accurate value of economic activity in a country.
Consider the following statements.1. Literacy Rate measures the proportion of literate population in the 7 and above age group.2. Net Attendance Ratio is the total number of children of age group 14 and 15 years attending school as a percentage of total number of children in the same age groupWhich of the statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements.
1. Literacy Rate measures the proportion of literate population in the 7 and above age group.
2. Net Attendance Ratio is the total number of children of age group 14 and 15 years attending school as a percentage of total number of children in the same age group
Which of the statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
|
Ojasvi Mehta answered |
- Literacy Rate measures the proportion of literate population in the 7 and above age group.
- Net Attendance Ratio is the total number of children of age group 14 and 15 years attending school as a percentage of total number of children in the same age group.
Consider the following statements.1. The LED bulb uses one-tenth energy as an incandescent bulb and half as much as a CFL to produce the same amount of light2. CFLs consume 80 percent less power as compared to ordinary bulbsWhich of the statement/statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both of them
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements.
1. The LED bulb uses one-tenth energy as an incandescent bulb and half as much as a CFL to produce the same amount of light
2. CFLs consume 80 percent less power as compared to ordinary bulbs
Which of the statement/statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both of them
d)
None of them
|
|
Avantika Chopra answered |
Statement 1: The LED bulb uses one-tenth energy as an incandescent bulb and half as much as a CFL to produce the same amount of light.
Statement 2: CFLs consume 80 percent less power as compared to ordinary bulbs.
Explanation:
Both statements are correct.
Statement 1: The LED bulb uses one-tenth energy as an incandescent bulb and half as much as a CFL to produce the same amount of light.
LED (light-emitting diode) bulbs are known for their energy efficiency. They use significantly less energy compared to incandescent bulbs and CFLs (compact fluorescent lamps) while producing the same amount of light. LED bulbs use semiconductors to convert electricity into light, whereas incandescent bulbs use a filament that produces light as a result of heat.
The statement correctly states that an LED bulb uses one-tenth of the energy of an incandescent bulb to produce the same amount of light. This means that LED bulbs are much more energy-efficient and can help in reducing electricity consumption.
Additionally, the statement also mentions that LED bulbs use half as much energy as a CFL to produce the same amount of light. This is because CFLs generate light by passing an electric current through a tube filled with gas and coated with phosphors. While CFLs are more energy-efficient than incandescent bulbs, LED bulbs are even more efficient.
Statement 2: CFLs consume 80 percent less power as compared to ordinary bulbs.
This statement is also correct. CFLs are known for their energy-saving properties. They consume approximately 80 percent less power compared to traditional incandescent bulbs. This means that CFLs can produce the same amount of light while using significantly less electricity, resulting in energy savings and reduced electricity bills.
In summary, both statements are correct. LED bulbs use one-tenth of the energy of incandescent bulbs and half as much energy as CFLs to produce the same amount of light. CFLs consume approximately 80 percent less power compared to ordinary incandescent bulbs. These energy-efficient lighting options are crucial in promoting sustainability and reducing energy consumption.
Statement 2: CFLs consume 80 percent less power as compared to ordinary bulbs.
Explanation:
Both statements are correct.
Statement 1: The LED bulb uses one-tenth energy as an incandescent bulb and half as much as a CFL to produce the same amount of light.
LED (light-emitting diode) bulbs are known for their energy efficiency. They use significantly less energy compared to incandescent bulbs and CFLs (compact fluorescent lamps) while producing the same amount of light. LED bulbs use semiconductors to convert electricity into light, whereas incandescent bulbs use a filament that produces light as a result of heat.
The statement correctly states that an LED bulb uses one-tenth of the energy of an incandescent bulb to produce the same amount of light. This means that LED bulbs are much more energy-efficient and can help in reducing electricity consumption.
Additionally, the statement also mentions that LED bulbs use half as much energy as a CFL to produce the same amount of light. This is because CFLs generate light by passing an electric current through a tube filled with gas and coated with phosphors. While CFLs are more energy-efficient than incandescent bulbs, LED bulbs are even more efficient.
Statement 2: CFLs consume 80 percent less power as compared to ordinary bulbs.
This statement is also correct. CFLs are known for their energy-saving properties. They consume approximately 80 percent less power compared to traditional incandescent bulbs. This means that CFLs can produce the same amount of light while using significantly less electricity, resulting in energy savings and reduced electricity bills.
In summary, both statements are correct. LED bulbs use one-tenth of the energy of incandescent bulbs and half as much energy as CFLs to produce the same amount of light. CFLs consume approximately 80 percent less power compared to ordinary incandescent bulbs. These energy-efficient lighting options are crucial in promoting sustainability and reducing energy consumption.
Consider the following statements.1. Ozone layer prevents most harmful wavelengths of ultraviolet light from passing through the Earth’s atmosphere2. Montreal Protocol banned the use of chlorofluorocarbon (CFC) compounds3. The problem of ozone depletion is caused by high levels of chlorine and bromine compounds in the TroposphereWhich of the statement/statements is/are not correct?- a) 1 Only
- b) 2 Only
- c) 3 Only
- d) All of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements.
1. Ozone layer prevents most harmful wavelengths of ultraviolet light from passing through the Earth’s atmosphere
2. Montreal Protocol banned the use of chlorofluorocarbon (CFC) compounds
3. The problem of ozone depletion is caused by high levels of chlorine and bromine compounds in the Troposphere
Which of the statement/statements is/are not correct?
a)
1 Only
b)
2 Only
c)
3 Only
d)
All of them
|
|
Deepa Iyer answered |
- Ozone depletion refers to the phenomenon of reductions in the amount of ozone in the stratosphere. The problem of ozone depletion is caused by high levels of chlorine and bromine compounds in the stratosphere.
- The origins of these compounds are chlorofluorocarbons (CFC), used as cooling substances in air conditioners and refrigerators, or as aerosol propellants, and bromofluorocarbons (halons), used in fire extinguishers.
- As a result of depletion of the ozone layer, more ultraviolet (UV) radiation comes to Earth and causes damage to living organisms. UV radiation seems responsible for skin cancer in humans; it also lowers production of phytoplankton and thus affects other aquatic organisms. It can also influence the growth of terrestrial plants. A reduction of approximately 5 per cent in the ozone layer was detected from 1979 to 1990.
Consider the following statements regarding the import substitution policy.1. This policy aimed at replacing or substituting imports with domestic production.2. In this policy the government protected the domestic industries from foreign competition3. Tariffs helped the government specify the quantity of goods which can be importedWhich of the statements is/are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'A'. Can you explain this answer?
Consider the following statements regarding the import substitution policy.
1. This policy aimed at replacing or substituting imports with domestic production.
2. In this policy the government protected the domestic industries from foreign competition
3. Tariffs helped the government specify the quantity of goods which can be imported
Which of the statements is/are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
|
Eshaan Kapoor answered |
- The industrial policy that we adopted was closely related to the trade policy. In the first seven plans, trade was characterised by what is commonly called an inward looking trade strategy.
- Technically, this strategy is called import substitution. This policy aimed at replacing or substituting imports with domestic production.
- For example, instead of importing vehicles made in a foreign country, industries would be encouraged to produce them in India itself. In this policy the government protected the domestic industries from foreign competition. Protection from imports took two forms: tariffs and quotas.
- Tariffs are a tax on imported goods; they make imported goods more expensive and discourage their use. Quotas specify the quantity of goods which can be imported.
- The effect of tariffs and quotas is that they restrict imports and, therefore, protect the domestic firms from foreign competition.
Assertion: Proportional taxes reduce the autonomous expenditure multiplier Reason: Taxes reduce the marginal propensity to consume out of income Select the correct code:- a) Both A and R are true and R is the correct explanation of A.
- b) Both A and R are true but R is not a correct explanation of A.
- c) A is true but R is false.
- d) A is false but R is true.
Correct answer is option 'A'. Can you explain this answer?
Assertion: Proportional taxes reduce the autonomous expenditure multiplier
Reason: Taxes reduce the marginal propensity to consume out of income
Select the correct code:
a)
Both A and R are true and R is the correct explanation of A.
b)
Both A and R are true but R is not a correct explanation of A.
c)
A is true but R is false.
d)
A is false but R is true.
|
|
Meera Kapoor answered |
Both A and R are true and R is the correct explanation of A.
Consider the following statements.1. Sarva Siksha Abhiyan has been implemented to encourage attendance and retention of children and improve their nutritional status2. Mid-day meal scheme is a significant step towards providing elementary education to all children in the age group of 6–14 yearsWhich of these statements are correct?- a) 1 Only
- b) 2 Only
- c) Both of them
- d) None of them
Correct answer is option 'D'. Can you explain this answer?
Consider the following statements.
1. Sarva Siksha Abhiyan has been implemented to encourage attendance and retention of children and improve their nutritional status
2. Mid-day meal scheme is a significant step towards providing elementary education to all children in the age group of 6–14 years
Which of these statements are correct?
a)
1 Only
b)
2 Only
c)
Both of them
d)
None of them
|
|
Shilpa Yadav answered |
Statement 1: Sarva Siksha Abhiyan has been implemented to encourage attendance and retention of children and improve their nutritional status.
The first statement is incorrect. Sarva Siksha Abhiyan (SSA) is a flagship program of the Government of India implemented in 2000 to achieve universal elementary education. Its primary objective is to provide free and compulsory education to all children in the age group of 6-14 years. While SSA aims to improve access to education and ensure retention of children in schools, it does not specifically focus on improving their nutritional status.
Statement 2: Mid-day meal scheme is a significant step towards providing elementary education to all children in the age group of 6–14 years.
The second statement is incorrect. The Mid-day Meal Scheme (MDMS) is a centrally sponsored program launched in 1995 with the objective of improving the nutritional status of school children and encouraging their enrollment, attendance, and retention in schools. It provides free cooked meals to children studying in government and government-aided schools. While the scheme does contribute to the overall goal of providing elementary education, its primary focus is on improving the nutritional intake of children rather than directly providing education.
Therefore, both statements are incorrect.
In summary:
- Sarva Siksha Abhiyan (SSA) aims to achieve universal elementary education, but it does not specifically focus on improving the nutritional status of children.
- The Mid-day Meal Scheme (MDMS) focuses on providing nutritious meals to children to improve their health and encourage enrollment and attendance in schools, but it is not a direct initiative for providing elementary education.
The first statement is incorrect. Sarva Siksha Abhiyan (SSA) is a flagship program of the Government of India implemented in 2000 to achieve universal elementary education. Its primary objective is to provide free and compulsory education to all children in the age group of 6-14 years. While SSA aims to improve access to education and ensure retention of children in schools, it does not specifically focus on improving their nutritional status.
Statement 2: Mid-day meal scheme is a significant step towards providing elementary education to all children in the age group of 6–14 years.
The second statement is incorrect. The Mid-day Meal Scheme (MDMS) is a centrally sponsored program launched in 1995 with the objective of improving the nutritional status of school children and encouraging their enrollment, attendance, and retention in schools. It provides free cooked meals to children studying in government and government-aided schools. While the scheme does contribute to the overall goal of providing elementary education, its primary focus is on improving the nutritional intake of children rather than directly providing education.
Therefore, both statements are incorrect.
In summary:
- Sarva Siksha Abhiyan (SSA) aims to achieve universal elementary education, but it does not specifically focus on improving the nutritional status of children.
- The Mid-day Meal Scheme (MDMS) focuses on providing nutritious meals to children to improve their health and encourage enrollment and attendance in schools, but it is not a direct initiative for providing elementary education.
Consider the following statements.1. Removing barriers or restrictions set by the government is what is known as liberalisation.2. With liberalisation of trade, businesses are allowed to make decisions freely about what they wish to import or export.3. The government imposes much less restrictions than before and is therefore said to be more liberalWhich of the statements/statements is/are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'D'. Can you explain this answer?
Consider the following statements.
1. Removing barriers or restrictions set by the government is what is known as liberalisation.
2. With liberalisation of trade, businesses are allowed to make decisions freely about what they wish to import or export.
3. The government imposes much less restrictions than before and is therefore said to be more liberal
Which of the statements/statements is/are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
|
Krish Sengupta answered |
Explanation:
Statement 1:
Removing barriers or restrictions set by the government is indeed known as liberalisation. Liberalisation refers to the process of reducing or eliminating government regulations and controls in various sectors of the economy.
Statement 2:
With liberalisation of trade, businesses are allowed to make decisions freely about what they wish to import or export. This statement is correct as liberalisation of trade aims to promote free trade by reducing trade barriers such as tariffs, quotas, and import/export restrictions. This allows businesses to engage in international trade more freely and make decisions based on market demand and competitiveness.
Statement 3:
The government imposes much fewer restrictions than before and is therefore said to be more liberal. This statement is also correct. Liberalisation often involves reducing government control and intervention in economic activities. By imposing fewer restrictions, the government allows market forces to play a greater role in determining economic outcomes, which is a characteristic of a more liberal economic environment.
Conclusion:
All three statements are correct. Liberalisation involves removing government barriers or restrictions, allowing businesses to make independent decisions about import and export, and reducing government intervention in economic activities. Therefore, option D, which states that all the statements are correct, is the correct answer.
Statement 1:
Removing barriers or restrictions set by the government is indeed known as liberalisation. Liberalisation refers to the process of reducing or eliminating government regulations and controls in various sectors of the economy.
Statement 2:
With liberalisation of trade, businesses are allowed to make decisions freely about what they wish to import or export. This statement is correct as liberalisation of trade aims to promote free trade by reducing trade barriers such as tariffs, quotas, and import/export restrictions. This allows businesses to engage in international trade more freely and make decisions based on market demand and competitiveness.
Statement 3:
The government imposes much fewer restrictions than before and is therefore said to be more liberal. This statement is also correct. Liberalisation often involves reducing government control and intervention in economic activities. By imposing fewer restrictions, the government allows market forces to play a greater role in determining economic outcomes, which is a characteristic of a more liberal economic environment.
Conclusion:
All three statements are correct. Liberalisation involves removing government barriers or restrictions, allowing businesses to make independent decisions about import and export, and reducing government intervention in economic activities. Therefore, option D, which states that all the statements are correct, is the correct answer.
In context of the public distribution system, Which of the following are correctly matched?Name of the Scheme - Coverage Target Group1. PDS - Universal2. RPDS - Backward blocks3. TPDS - Poorest of the poorWhich of the statements/statements are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'A'. Can you explain this answer?
In context of the public distribution system, Which of the following are correctly matched?
Name of the Scheme - Coverage Target Group
1. PDS - Universal
2. RPDS - Backward blocks
3. TPDS - Poorest of the poor
Which of the statements/statements are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
|
Rashi Mukherjee answered |
The correct match between the name of the scheme and its coverage target group in the context of the Public Distribution System is:
1. PDS - Universal
2. RPDS - Backward blocks
3. TPDS - Poorest of the poor
Explanation:
1. PDS (Public Distribution System) - Universal Coverage: PDS aims to provide food security to the entire population of the country. It covers both the urban and rural areas.
2. RPDS (Revamped Public Distribution System) - Backward Blocks: RPDS was launched in 1992 to provide food security to the population living in remote, hilly, and tribal areas. The objective was to provide food grains at subsidized rates to the people residing in backward blocks.
3. TPDS (Targeted Public Distribution System) - Poorest of the Poor: TPDS was launched in 1997 to ensure that the poorest of the poor have access to food grains at subsidized rates. The scheme covers only the below poverty line (BPL) families and the Antyodaya Anna Yojana (AAY) households.
Therefore, the correct answer is option 'A' - All of them.
1. PDS - Universal
2. RPDS - Backward blocks
3. TPDS - Poorest of the poor
Explanation:
1. PDS (Public Distribution System) - Universal Coverage: PDS aims to provide food security to the entire population of the country. It covers both the urban and rural areas.
2. RPDS (Revamped Public Distribution System) - Backward Blocks: RPDS was launched in 1992 to provide food security to the population living in remote, hilly, and tribal areas. The objective was to provide food grains at subsidized rates to the people residing in backward blocks.
3. TPDS (Targeted Public Distribution System) - Poorest of the Poor: TPDS was launched in 1997 to ensure that the poorest of the poor have access to food grains at subsidized rates. The scheme covers only the below poverty line (BPL) families and the Antyodaya Anna Yojana (AAY) households.
Therefore, the correct answer is option 'A' - All of them.
Consider the following statements about the concept of growth.1. It refers to increase in the country’s capacity to produce the output of goods and services within the country2. A good indicator of economic growth, in the language of economics, is steady increase in the Gross Domestic Product (GDP)Which of the statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements about the concept of growth.
1. It refers to increase in the country’s capacity to produce the output of goods and services within the country
2. A good indicator of economic growth, in the language of economics, is steady increase in the Gross Domestic Product (GDP)
Which of the statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
|
Meera Kapoor answered |
- Growth: It refers to an increase in the country’s capacity to produce the output of goods and services within the country. It implies either a larger stock of productive capital, or a larger size of supporting services like transport and banking, or an increase in the efficiency of productive capital and services.
- A good indicator of economic growth, in the language of economics, is steady increase in the Gross Domestic Product (GDP). The GDP is the market value of all the goods and services produced in the country during a year.
- You can think of the GDP as a cake and growth is an increase in the size of the cake. If the cake is larger, more people can enjoy it. It is necessary to produce more goods and services if the people of India are to enjoy (in the words of the First Five Year Plan) a more rich and varied life.
Another feature of high poverty rates has been the huge income inequalities. In context of this, consider the following statements. 1. One of the major reasons for this is the unequal distribution of land and other resources2. Land reforms which aimed at redistribution of assets in rural areas have not been implemented properly3. In order to fulfil social obligations and observe religious ceremonies, people in India spend a lot of moneyWhich of these statements are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'D'. Can you explain this answer?
Another feature of high poverty rates has been the huge income inequalities. In context of this, consider the following statements.
1. One of the major reasons for this is the unequal distribution of land and other resources
2. Land reforms which aimed at redistribution of assets in rural areas have not been implemented properly
3. In order to fulfil social obligations and observe religious ceremonies, people in India spend a lot of money
Which of these statements are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
|
Sakshi Pillai answered |
Explanation:
The given statements are related to the issue of poverty and income inequality in India. Let us analyze each statement in detail:
Unequal distribution of land and resources:
One of the major reasons for income inequality in India is the unequal distribution of land and other resources. The land ownership pattern in rural areas is highly skewed, with a few large landowners holding the majority of the land and the majority of the population being landless or small landowners. This has resulted in a concentration of wealth and power in the hands of a few, leading to income inequality.
Improper implementation of land reforms:
Land reforms in India aimed at redistributing land and other assets in rural areas have not been implemented properly. The lack of political will, bureaucratic red tape, and resistance from vested interests have all contributed to the failure of land reforms. As a result, the concentration of land and resources in the hands of a few has continued, perpetuating income inequality.
Spending on social obligations and religious ceremonies:
In India, people spend a considerable amount of money on social obligations and religious ceremonies. While these are important cultural practices, they can also be a significant drain on household budgets, especially for those living in poverty. This can contribute to income inequality, as those who have more financial resources are able to spend more on these practices, while those who are poor may have to go into debt or forego these practices altogether.
Conclusion:
All three statements are correct and interrelated. Income inequality in India is a complex issue that is influenced by a range of factors, including historical patterns of land ownership, inadequate implementation of land reforms, and cultural practices that can be a significant drain on household budgets. Addressing these issues will require a concerted effort from policymakers, civil society, and communities across the country.
The given statements are related to the issue of poverty and income inequality in India. Let us analyze each statement in detail:
Unequal distribution of land and resources:
One of the major reasons for income inequality in India is the unequal distribution of land and other resources. The land ownership pattern in rural areas is highly skewed, with a few large landowners holding the majority of the land and the majority of the population being landless or small landowners. This has resulted in a concentration of wealth and power in the hands of a few, leading to income inequality.
Improper implementation of land reforms:
Land reforms in India aimed at redistributing land and other assets in rural areas have not been implemented properly. The lack of political will, bureaucratic red tape, and resistance from vested interests have all contributed to the failure of land reforms. As a result, the concentration of land and resources in the hands of a few has continued, perpetuating income inequality.
Spending on social obligations and religious ceremonies:
In India, people spend a considerable amount of money on social obligations and religious ceremonies. While these are important cultural practices, they can also be a significant drain on household budgets, especially for those living in poverty. This can contribute to income inequality, as those who have more financial resources are able to spend more on these practices, while those who are poor may have to go into debt or forego these practices altogether.
Conclusion:
All three statements are correct and interrelated. Income inequality in India is a complex issue that is influenced by a range of factors, including historical patterns of land ownership, inadequate implementation of land reforms, and cultural practices that can be a significant drain on household budgets. Addressing these issues will require a concerted effort from policymakers, civil society, and communities across the country.
Assertion: Many borrowers find themselves in the Debt trap due to the informal source of loanReason: The cost to the borrower of informal loans is much higherSelect the correct code:- a) Both A and R are true and R is the correct explanation of A.
- b) Both A and R are true but R is not a correct explanation of A.
- c) A is true but R is false.
- d) A is false but R is true.
Correct answer is option 'A'. Can you explain this answer?
Assertion: Many borrowers find themselves in the Debt trap due to the informal source of loan
Reason: The cost to the borrower of informal loans is much higher
Select the correct code:
a)
Both A and R are true and R is the correct explanation of A.
b)
Both A and R are true but R is not a correct explanation of A.
c)
A is true but R is false.
d)
A is false but R is true.
|
|
Amit Kumar answered |
- Compared to the formal lenders, most of the informal lenders charge a much higher interest on loans. Thus, the cost to the borrower of informal use is much higher.
- Higher cost of borrowing means a larger part of the earnings of the borrowers is used to repay the loan.
- Hence, borrowers have less income left for themselves (as we saw for Shyamal in Sonpur). In certain cases, the high interest rate for borrowing can mean that the amount to be repaid is greater than the income of the borrower.
- This could lead to increasing debt (as we saw for Rama in Sonpur) and debt trap. Also, people who might wish to start an enterprise by borrowing may not do so because of the high cost of borrowing.
Assertion: The price of food grains declined relative to other items of consumption.Reason: A good proportion of the rice and wheat produced during the green revolution period was consumed by the farmers themselvesSelect the correct code:- a) Both A and R are true and R is the correct explanation of A.
- b) Both A and R are true but R is not a correct explanation of A.
- c) A is true but R is false.
- d) A is false but R is true.
Correct answer is option 'C'. Can you explain this answer?
Assertion: The price of food grains declined relative to other items of consumption.
Reason: A good proportion of the rice and wheat produced during the green revolution period was consumed by the farmers themselves
Select the correct code:
a)
Both A and R are true and R is the correct explanation of A.
b)
Both A and R are true but R is not a correct explanation of A.
c)
A is true but R is false.
d)
A is false but R is true.
|
|
Meera Kapoor answered |
- The portion of agricultural produce which is sold in the market by the farmers is called marketed surplus.
- A good proportion of the rice and wheat produced during the green revolution period (available as marketed surplus) was sold by the farmers in the market. As a result, the price of food grains declined relative to other items of consumption.
- The low- income groups, who spend a large percentage of their income on food, benefited from this decline in relative prices.
The green revolution enabled the government to procure sufficient amounts of food grains to build a stock which could be used in times of food shortage.
Consider the following statements about Mahatma Gandhi National Rural Employment Guarantee Act, 2005. 1. It aims to provide 100 days of wage employment to every household to ensure livelihood security in rural areas2. It also aimed at sustainable development to address the cause of draught, deforestation and soil erosion3. One-third of the proposed jobs have been reserved for womenWhich of these statements are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'D'. Can you explain this answer?
Consider the following statements about Mahatma Gandhi National Rural Employment Guarantee Act, 2005.
1. It aims to provide 100 days of wage employment to every household to ensure livelihood security in rural areas
2. It also aimed at sustainable development to address the cause of draught, deforestation and soil erosion
3. One-third of the proposed jobs have been reserved for women
Which of these statements are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
|
Abhishek Das answered |
Explanation:
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005 is a social security scheme that aims to provide employment and livelihood security to rural households in India. The act has several provisions to achieve its objectives, and the given statements correctly highlight some of the key features of the act.
Statement 1: It aims to provide 100 days of wage employment to every household to ensure livelihood security in rural areas.
This statement is correct. The primary objective of MGNREGA is to provide at least 100 days of wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work. This provision ensures that rural households have access to a minimum level of income and livelihood security.
Statement 2: It also aimed at sustainable development to address the cause of drought, deforestation, and soil erosion.
This statement is correct. MGNREGA is not only focused on providing employment but also aims at sustainable development. The act includes provisions for the creation of durable assets such as water conservation structures, afforestation, and land development to address issues like drought, deforestation, and soil erosion. This helps in promoting environmental sustainability and improving the overall quality of life in rural areas.
Statement 3: One-third of the proposed jobs have been reserved for women.
This statement is correct. MGNREGA recognizes the importance of women's empowerment and participation in rural development. As per the act, at least one-third of the total proposed jobs or work opportunities should be reserved for women. This provision ensures gender equality and provides women with equal opportunities for employment and economic empowerment.
Therefore, all the given statements (1, 2, and 3) are correct. MGNREGA aims to provide 100 days of wage employment, address issues of sustainable development, and reserves one-third of the proposed jobs for women.
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005 is a social security scheme that aims to provide employment and livelihood security to rural households in India. The act has several provisions to achieve its objectives, and the given statements correctly highlight some of the key features of the act.
Statement 1: It aims to provide 100 days of wage employment to every household to ensure livelihood security in rural areas.
This statement is correct. The primary objective of MGNREGA is to provide at least 100 days of wage employment in a financial year to every household whose adult members volunteer to do unskilled manual work. This provision ensures that rural households have access to a minimum level of income and livelihood security.
Statement 2: It also aimed at sustainable development to address the cause of drought, deforestation, and soil erosion.
This statement is correct. MGNREGA is not only focused on providing employment but also aims at sustainable development. The act includes provisions for the creation of durable assets such as water conservation structures, afforestation, and land development to address issues like drought, deforestation, and soil erosion. This helps in promoting environmental sustainability and improving the overall quality of life in rural areas.
Statement 3: One-third of the proposed jobs have been reserved for women.
This statement is correct. MGNREGA recognizes the importance of women's empowerment and participation in rural development. As per the act, at least one-third of the total proposed jobs or work opportunities should be reserved for women. This provision ensures gender equality and provides women with equal opportunities for employment and economic empowerment.
Therefore, all the given statements (1, 2, and 3) are correct. MGNREGA aims to provide 100 days of wage employment, address issues of sustainable development, and reserves one-third of the proposed jobs for women.
Consider the following statements about the concept of modernisation.1. Adoption of new technology is called modernisation2. Modernisation does not refer only to the use of new technology but also to changes in social outlookWhich of the statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements about the concept of modernisation.
1. Adoption of new technology is called modernisation
2. Modernisation does not refer only to the use of new technology but also to changes in social outlook
Which of the statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
Neither 1 nor 2
|
|
Kavita Shah answered |
- Modernisation: To increase the production of goods and services the producers have to adopt new technology. For example, a farmer can increase the output on the farm by using new seed varieties instead of using the old ones.
- Similarly, a factory can increase output by using a new type of machine. Adoption of new technology is called modernisation. However, modernisation does not refer only to the use of new technology but also to changes in social outlook such as the recognition that women should have the same rights as men.
- In a traditional society, women are supposed to remain at home while men work. A modern society makes use of the talents of women in the workplace — in banks, factories, schools etc. — and such a society in most occasions is also prosperous.
Consider the following statements. 1. GDP deflator does not include prices of imported goods2. CPI does not includes prices of goods consumed by the representative consumersWhich of these statements are not correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Consider the following statements.
1. GDP deflator does not include prices of imported goods
2. CPI does not includes prices of goods consumed by the representative consumers
Which of these statements are not correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
Neither 1 nor 2
|
Debanshi Menon answered |
Explanation:
GDP deflator:
The GDP deflator is a measure of the average price level of goods and services produced in an economy. It is calculated by dividing nominal GDP (the value of all final goods and services produced at current prices) by real GDP (the value of all final goods and services produced at constant prices). The GDP deflator includes the prices of both domestically produced goods and imported goods.
CPI:
The Consumer Price Index (CPI) measures the average price level of goods and services consumed by the representative consumers in an economy. It is calculated by comparing the cost of a basket of goods and services at current prices to the cost of the same basket at base period prices. The CPI includes the prices of goods consumed by the representative consumers, which may include both domestically produced goods and imported goods.
Statement 1: GDP deflator does not include prices of imported goods
This statement is not correct. The GDP deflator includes the prices of both domestically produced goods and imported goods. It measures the overall price level in an economy, including the prices of goods and services produced both domestically and abroad.
Statement 2: CPI does not include prices of goods consumed by the representative consumers
This statement is also not correct. The CPI measures the average price level of goods and services consumed by the representative consumers. It includes the prices of goods consumed by the representative consumers, which may include both domestically produced goods and imported goods.
Conclusion:
Both statements are not correct. The GDP deflator includes the prices of both domestically produced goods and imported goods, and the CPI includes the prices of goods consumed by the representative consumers, which may include both domestically produced goods and imported goods. The correct answer is option 'B'.
GDP deflator:
The GDP deflator is a measure of the average price level of goods and services produced in an economy. It is calculated by dividing nominal GDP (the value of all final goods and services produced at current prices) by real GDP (the value of all final goods and services produced at constant prices). The GDP deflator includes the prices of both domestically produced goods and imported goods.
CPI:
The Consumer Price Index (CPI) measures the average price level of goods and services consumed by the representative consumers in an economy. It is calculated by comparing the cost of a basket of goods and services at current prices to the cost of the same basket at base period prices. The CPI includes the prices of goods consumed by the representative consumers, which may include both domestically produced goods and imported goods.
Statement 1: GDP deflator does not include prices of imported goods
This statement is not correct. The GDP deflator includes the prices of both domestically produced goods and imported goods. It measures the overall price level in an economy, including the prices of goods and services produced both domestically and abroad.
Statement 2: CPI does not include prices of goods consumed by the representative consumers
This statement is also not correct. The CPI measures the average price level of goods and services consumed by the representative consumers. It includes the prices of goods consumed by the representative consumers, which may include both domestically produced goods and imported goods.
Conclusion:
Both statements are not correct. The GDP deflator includes the prices of both domestically produced goods and imported goods, and the CPI includes the prices of goods consumed by the representative consumers, which may include both domestically produced goods and imported goods. The correct answer is option 'B'.
Consider the following statements. 1. A cashless society describes an economic state whereby financial transactions are connected with money in the form of physical banknotes or coins and through the transfer of digital information between the transacting parties2. Financial inclusion is seen as a impossible dream because of mobile and smartphone penetration across the countryWhich of these statements are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) Neither 1 nor 2
Correct answer is option 'D'. Can you explain this answer?
Consider the following statements.
1. A cashless society describes an economic state whereby financial transactions are connected with money in the form of physical banknotes or coins and through the transfer of digital information between the transacting parties
2. Financial inclusion is seen as a impossible dream because of mobile and smartphone penetration across the country
Which of these statements are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
Neither 1 nor 2
|
|
Rahul Choudhury answered |
- Some countries have made an attempt to move towards an economy which uses less cash and more digital transactions.
- A cashless society describes an economic state whereby financial transactions are not connected with money in the form of physical bank notes or coins but rather through the transfer of digital information (usually an electronic representation of money) between the transacting parties.
- In India the government has been consistently investing in various reforms for greater financial inclusion. During the last few years’ initiatives such as Jan Dhan accounts, Aadhar enabled payment systems, e –Wallets, National financial Switch (NFS) and others have strengthened the government resolve to go cashless.
- Today, financial inclusion is seen as a realistic dream because of mobile and smartphone penetration across the country.
Consider the following statements about the Monthly Per Capita Expenditure (MPCE).1. This mechanism is helpful in identifying the poor as a group to be taken care of by the government, but it would be difficult to identify who among the poor need help the most2. It groups all the poor together and does not differentiate between the very poor and the other poorWhich of the statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements about the Monthly Per Capita Expenditure (MPCE).
1. This mechanism is helpful in identifying the poor as a group to be taken care of by the government, but it would be difficult to identify who among the poor need help the most
2. It groups all the poor together and does not differentiate between the very poor and the other poor
Which of the statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
|
Ojasvi Mehta answered |
- There are many ways of measuring poverty. One way is to determine it by the monetary value (per capita expenditure) of the minimum calorie intake that was estimated at 2,400 calories for a rural person and 2,100 for a person in the urban area. Based on this, in 2011-12, the poverty line was defined for rural areas as consumption worth Rs 816 per person a month and for urban areas it was Rs 1,000.
- Though the government uses Monthly Per Capita Expenditure (MPCE) as a proxy for income of households to identify the poor. State that a major problem with this mechanism is that it groups all the poor together and does not differentiate between the very poor and the other poor.
Assertion: The share of power and telecommunication infrastructure is greater in high-income countries.Reason: As economies mature and most of their basic consumption demands are met, the share of agriculture in the economy shrinks and more service-related infrastructure is required.Select the correct code:- a) Both A and R are true and R is the correct explanation of A.
- b) Both A and R are true but R is not a correct explanation of A.
- c) A is true but R is false.
- d) A is false but R is true.
Correct answer is option 'A'. Can you explain this answer?
Assertion: The share of power and telecommunication infrastructure is greater in high-income countries.
Reason: As economies mature and most of their basic consumption demands are met, the share of agriculture in the economy shrinks and more service-related infrastructure is required.
Select the correct code:
a)
Both A and R are true and R is the correct explanation of A.
b)
Both A and R are true but R is not a correct explanation of A.
c)
A is true but R is false.
d)
A is false but R is true.
|
|
Meera Kapoor answered |
- Some economists have projected that India will become the third biggest economy in the world a few decades from now. For that to happen, India will have to boost its infrastructure investment.
- In any country, as the income rises, the composition of infrastructure requirements changes significantly. For low-income countries, basic infrastructure services, like irrigation, transport and power, are more important.
- As economies mature and most of their basic consumption demands are met, the share of agriculture in the economy shrinks and more service-related infrastructure is required. This is why the share of power and telecommunication infrastructure is greater in high-income countries.
With respect to the difference between private goods and public goods, consider the following statements.1. The benefits of public goods are available to all and are not only restricted to one particular consumer2. In case of private goods anyone who does not pay for the goods can be excluded from enjoying its benefits3. One person’s consumption of a good does not reduce the amount available for consumption for others then it is a public goodWhich of these statements are not correct?- a) 1 Only
- b) 2 Only
- c) 3 Only
- d) None of the above
Correct answer is option 'D'. Can you explain this answer?
With respect to the difference between private goods and public goods, consider the following statements.
1. The benefits of public goods are available to all and are not only restricted to one particular consumer
2. In case of private goods anyone who does not pay for the goods can be excluded from enjoying its benefits
3. One person’s consumption of a good does not reduce the amount available for consumption for others then it is a public good
Which of these statements are not correct?
a)
1 Only
b)
2 Only
c)
3 Only
d)
None of the above
|
|
Kavita Mehta answered |
- There are two major differences. One, the benefits of public goods are available to all and are not only restricted to one particular consumer. For example, if a person eats a chocolate or wears a shirt, these will not be available to others.
- It is said that this person’s consumption stands in relation to the consumption of others. However, if we consider a public park or measures to reduce air pollution, the benefits will be available to all.
- One person’s consumption of a good does not reduce the amount available for consumption for others and so several people can enjoy the benefits, that is, the consumption of many people is not ‘rivalrous’.
Consider the following statements.1. Roads constructed in India prior to the advent of the British rule were not fit for modern transport2. The roads that were built primarily served the purposes of mobilising the army within India and drawing out raw materials from the countryside to the nearest railway station3. There always remained an acute shortage of all-weather roads to reach out to the rural areas during the rainy seasonWhich of the statements is/are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'D'. Can you explain this answer?
Consider the following statements.
1. Roads constructed in India prior to the advent of the British rule were not fit for modern transport
2. The roads that were built primarily served the purposes of mobilising the army within India and drawing out raw materials from the countryside to the nearest railway station
3. There always remained an acute shortage of all-weather roads to reach out to the rural areas during the rainy season
Which of the statements is/are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
|
Sanjay Rana answered |
- However, the real motive behind this development was not to provide basic amenities to the people but to subserve various colonial interests.
- Roads constructed in India prior to the advent of the British rule were not fit for modern transport.
- The roads that were built primarily served the purposes of mobilising the army within India and drawing out raw materials from the countryside to the nearest railway station or the port to send these to far away England or other lucrative foreign destinations.
- There always remained an acute shortage of all-weather roads to reach out to the rural areas during the rainy season. Naturally, therefore, people mostly living in these areas suffered grievously during natural calamities and famines.
Consider the following statements. 1. Those that relate to the current financial year only are included in the revenue account2. Those that concern the assets and liabilities of the government into the capital accountWhich of these statements are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements.
1. Those that relate to the current financial year only are included in the revenue account
2. Those that concern the assets and liabilities of the government into the capital account
Which of these statements are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
Neither 1 nor 2
|
|
Deepa Iyer answered |
- Although the budget document relates to the receipts and expenditure of the government for a particular financial year, the impact of it will be there in subsequent years.
- There is a need therefore to have two accounts- those that relate to the current financial year only are included in the revenue account (also called revenue budget) and those that concern the assets and liabilities of the government into the capital account (also called capital budget).
Consider the following statements. 1. Flows are defined over a period of time.2. A particular machine can be part of the capital stock only for a year3. Stocks are defined at a particular point of timeWhich of these statements are correct?- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements.
1. Flows are defined over a period of time.
2. A particular machine can be part of the capital stock only for a year
3. Stocks are defined at a particular point of time
Which of these statements are correct?
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
|
Avantika Chopra answered |
1. Flows are defined over a period of time:
- This statement is correct. Flows refer to the movement or transfer of goods, services, or money over a specific period. For example, the flow of income or the flow of goods in a supply chain are measured and analyzed over a given time frame.
2. A particular machine can be part of the capital stock only for a year:
- This statement is incorrect. Capital stock refers to the total value of physical assets, such as machinery, equipment, and buildings, owned by a firm or an economy at a specific point in time. A particular machine can be part of the capital stock for multiple years, as long as it remains in use and has not been replaced or disposed of.
3. Stocks are defined at a particular point of time:
- This statement is correct. Stocks refer to the quantity or value of assets, liabilities, or other economic variables at a specific point in time. Stocks are measured at a particular moment and provide a snapshot of the situation at that specific time, such as the inventory of goods on a particular day or the amount of money in a bank account at a specific point.
Therefore, the correct statements are 1 and 3 only (a). Flows are defined over a period of time, while stocks are defined at a particular point in time. The second statement is incorrect as a particular machine can be part of the capital stock for more than just a year.
- This statement is correct. Flows refer to the movement or transfer of goods, services, or money over a specific period. For example, the flow of income or the flow of goods in a supply chain are measured and analyzed over a given time frame.
2. A particular machine can be part of the capital stock only for a year:
- This statement is incorrect. Capital stock refers to the total value of physical assets, such as machinery, equipment, and buildings, owned by a firm or an economy at a specific point in time. A particular machine can be part of the capital stock for multiple years, as long as it remains in use and has not been replaced or disposed of.
3. Stocks are defined at a particular point of time:
- This statement is correct. Stocks refer to the quantity or value of assets, liabilities, or other economic variables at a specific point in time. Stocks are measured at a particular moment and provide a snapshot of the situation at that specific time, such as the inventory of goods on a particular day or the amount of money in a bank account at a specific point.
Therefore, the correct statements are 1 and 3 only (a). Flows are defined over a period of time, while stocks are defined at a particular point in time. The second statement is incorrect as a particular machine can be part of the capital stock for more than just a year.
If CRR = 40 per cent, with deposits of Rs 100, our bank will need to keep- a) Rs 60 as cash reserves
- b) Rs 40 as cash reserves
- c) Rs 20 as cash reserves
- d) Rs 100 as cash reserves
Correct answer is option 'B'. Can you explain this answer?
If CRR = 40 per cent, with deposits of Rs 100, our bank will need to keep
a)
Rs 60 as cash reserves
b)
Rs 40 as cash reserves
c)
Rs 20 as cash reserves
d)
Rs 100 as cash reserves
|
|
Deepa Iyer answered |
- The RBI decides a certain percentage of deposits which every bank must keep as reserves. This is done to ensure that no bank is ‘over lending’. This is a legal requirement and is binding on the banks.
- This is called the ‘Required Reserve Ratio’ or the ‘Reserve Ratio’ or ‘Cash Reserve Ratio’ (CRR).Cash Reserve Ratio (CRR) = Percentage of deposits which a bank must keep as cash reserves with itself. Apart from the CRR, banks are also required to keep some reserves in liquid form in the short term. This ratio is called Statutory Liquidity Ratio or SLR.
Consider the following statements about the concept of equity.1. It is important to ensure that the benefits of economic prosperity reach the poor sections2. Now growth, modernization and self-reliance, by themselves, may not improve the kind of life which people are livingWhich of the statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements about the concept of equity.
1. It is important to ensure that the benefits of economic prosperity reach the poor sections
2. Now growth, modernization and self-reliance, by themselves, may not improve the kind of life which people are living
Which of the statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
Neither 1 nor 2
|
|
Suresh Reddy answered |
- Equity: Now growth, modernisation and self-reliance, by themselves, may not improve the kind of life which people are living.
- A country can have high growth, the most modern technology developed in the country itself, and also have most of its people living in poverty. It is important to ensure that the benefits of economic prosperity reach the poor sections as well instead of being enjoyed only by the rich.
- So, in addition to growth, modernisation and self-reliance, equity is also important. Every Indian should be able to meet his or her basic needs such as food, a decent house, education and health care and inequality in the distribution of wealth should be reduced.
Which of the following are the reasons for the flow of foreign currency? 1. Exports by a country lead to the purchase of its domestic goods and services by the foreigners2. Foreigners send gifts or make transfers3. The assets of a home country are bought by the foreignersChoose from the following options.- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of the above
Correct answer is option 'D'. Can you explain this answer?
Which of the following are the reasons for the flow of foreign currency?
1. Exports by a country lead to the purchase of its domestic goods and services by the foreigners
2. Foreigners send gifts or make transfers
3. The assets of a home country are bought by the foreigners
Choose from the following options.
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of the above
|
|
Deepa Iyer answered |
Foreign currency flows into the home country due to the following reasons: exports by a country lead to the purchase of its domestic goods and services by the foreigners; foreigners send gifts or make transfers; and, the assets of a home country are bought by the foreigners.
Consider the following statements. 1. There may be times when demand exceeds available output under conditions of low utilisation of labour and economy2. The intervention of the government whether to expand demand or reduce it constitutes the stabilisation functionWhich of these statements are not correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Consider the following statements.
1. There may be times when demand exceeds available output under conditions of low utilisation of labour and economy
2. The intervention of the government whether to expand demand or reduce it constitutes the stabilisation function
Which of these statements are not correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
Neither 1 nor 2
|
|
Anjali Rao answered |
- The overall level of employment and prices in the economy depends upon the level of aggregate demand which depends on the spending decisions of millions of private economic agents apart from the government.
- These decisions, in turn, depend on many factors such as income and credit availability. In any period, the level of demand may not be sufficient for full utilisation of labour and other resources of the economy.
- Since wages and prices do not fall below a level, employment cannot be brought back to the earlier level automatically. The government needs to intervene to raise the aggregate demand.
- On the other hand, there may be times when demand exceeds available output under conditions of high employment and thus may give rise to inflation. In such situations, restrictive conditions may be needed to reduce demand. The intervention of the government whether to expand demand or reduce it constitutes the stabilisation function.
Consider the following statements about the Consumer Protection Act 2019.1. Under COPRA, a three-tier quasi - judicial machinery at the district, state and national levels has been set up for redressal of consumer disputes2. If a case is dismissed in district level court, the consumer can also appeal in state and then in National level courtsWhich of the statements/statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) None of them
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements about the Consumer Protection Act 2019.
1. Under COPRA, a three-tier quasi - judicial machinery at the district, state and national levels has been set up for redressal of consumer disputes
2. If a case is dismissed in district level court, the consumer can also appeal in state and then in National level courts
Which of the statements/statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of them
|
|
Suresh Reddy answered |
Under COPRA 2019, a three-tier quasi- judicial machinery at the district, state and national levels has been set up for redressal of consumer disputes. If a case is dismissed in district level court, the consumer can also appeal in state and then in National level courts.
Consider the following statements.1. Telecommunication facilities are used to contact one another around the world, to access information instantly, and to communicate from remote areas2. This has been facilitated by satellite communication devicesWhich of the statements/statements is/are not correct?- a) 1 Only
- b) 2 Only
- c) Both of them
- d) None of them
Correct answer is option 'D'. Can you explain this answer?
Consider the following statements.
1. Telecommunication facilities are used to contact one another around the world, to access information instantly, and to communicate from remote areas
2. This has been facilitated by satellite communication devices
Which of the statements/statements is/are not correct?
a)
1 Only
b)
2 Only
c)
Both of them
d)
None of them
|
|
Nitin Unni answered |
Statement 1: Telecommunication facilities are used to contact one another around the world, to access information instantly, and to communicate from remote areas.
Statement 2: This has been facilitated by satellite communication devices.
Explanation:
Statement 1: Telecommunication facilities are used to contact one another around the world, to access information instantly, and to communicate from remote areas.
This statement is correct. Telecommunication facilities, such as phones, internet, and other communication devices, have revolutionized the way people interact with each other. These facilities allow individuals to contact each other from any part of the world, access information instantly through the internet, and communicate even from remote areas where traditional communication infrastructure may not be available.
Statement 2: This has been facilitated by satellite communication devices.
This statement is also correct. Satellite communication devices have played a significant role in facilitating global communication and access to information. Satellites orbiting the Earth are used to transmit and receive signals for various telecommunication services. These satellites enable long-distance communication, as they can cover large areas and provide connectivity to remote and inaccessible regions. They are used for television and radio broadcasting, internet connectivity, telephone services, and other forms of communication.
Conclusion:
Both statements are correct. Telecommunication facilities have indeed revolutionized communication by enabling people to contact each other globally, access information instantly, and communicate from remote areas. This has been made possible by satellite communication devices, which provide the necessary infrastructure for global connectivity and communication. Therefore, the correct answer is option 'D' - None of them.
Statement 2: This has been facilitated by satellite communication devices.
Explanation:
Statement 1: Telecommunication facilities are used to contact one another around the world, to access information instantly, and to communicate from remote areas.
This statement is correct. Telecommunication facilities, such as phones, internet, and other communication devices, have revolutionized the way people interact with each other. These facilities allow individuals to contact each other from any part of the world, access information instantly through the internet, and communicate even from remote areas where traditional communication infrastructure may not be available.
Statement 2: This has been facilitated by satellite communication devices.
This statement is also correct. Satellite communication devices have played a significant role in facilitating global communication and access to information. Satellites orbiting the Earth are used to transmit and receive signals for various telecommunication services. These satellites enable long-distance communication, as they can cover large areas and provide connectivity to remote and inaccessible regions. They are used for television and radio broadcasting, internet connectivity, telephone services, and other forms of communication.
Conclusion:
Both statements are correct. Telecommunication facilities have indeed revolutionized communication by enabling people to contact each other globally, access information instantly, and communicate from remote areas. This has been made possible by satellite communication devices, which provide the necessary infrastructure for global connectivity and communication. Therefore, the correct answer is option 'D' - None of them.
Consider the following statements. 1. Seasonal unemployment happens when people are not able to find jobs during some months of the year2. People dependant upon agriculture usually face seasonal unemployment3. In case of disguised unemployment people appear to be employed4. Rural areas have mostly educated unemploymentWhich of these statements are not correct?- a) 1 Only
- b) 2 Only
- c) 3 Only
- d) 4 Only
Correct answer is option 'D'. Can you explain this answer?
Consider the following statements.
1. Seasonal unemployment happens when people are not able to find jobs during some months of the year
2. People dependant upon agriculture usually face seasonal unemployment
3. In case of disguised unemployment people appear to be employed
4. Rural areas have mostly educated unemployment
Which of these statements are not correct?
a)
1 Only
b)
2 Only
c)
3 Only
d)
4 Only
|
Garima Choudhury answered |
The correct answer is option 'D', i.e., statement 4 is not correct. Let's analyze each statement to understand why.
1. Seasonal unemployment happens when people are not able to find jobs during some months of the year.
- This statement is correct. Seasonal unemployment occurs when individuals are unable to find employment during certain months or seasons of the year. This is often seen in industries or sectors where work is dependent on weather conditions, such as agriculture, construction, tourism, etc.
2. People dependent upon agriculture usually face seasonal unemployment.
- This statement is correct. Agriculture is highly influenced by seasonal factors like monsoon, cropping patterns, and harvesting periods. Hence, people engaged in agricultural activities often face unemployment during off-seasons when there is no work available.
3. In case of disguised unemployment, people appear to be employed.
- This statement is correct. Disguised unemployment refers to a situation where more people are engaged in a task or occupation than required. In such cases, the productivity of each individual is very low, and removing a few individuals from the occupation would not affect the overall output. This type of unemployment is common in the agricultural sector, where surplus labor remains engaged in farming activities, resulting in reduced productivity.
4. Rural areas have mostly educated unemployment.
- This statement is not correct. Educated unemployment refers to the situation where educated individuals are unable to find suitable employment according to their qualifications. While educated unemployment can be observed in both rural and urban areas, it is more prevalent in urban areas due to the concentration of industries, higher competition, and limited job opportunities in rural areas. In rural areas, the lack of quality educational institutions and limited access to job opportunities may contribute to underemployment or unemployment, but it may not necessarily be categorized as "educated unemployment."
In conclusion, statement 4 is not correct because rural areas do not necessarily have mostly educated unemployment.
1. Seasonal unemployment happens when people are not able to find jobs during some months of the year.
- This statement is correct. Seasonal unemployment occurs when individuals are unable to find employment during certain months or seasons of the year. This is often seen in industries or sectors where work is dependent on weather conditions, such as agriculture, construction, tourism, etc.
2. People dependent upon agriculture usually face seasonal unemployment.
- This statement is correct. Agriculture is highly influenced by seasonal factors like monsoon, cropping patterns, and harvesting periods. Hence, people engaged in agricultural activities often face unemployment during off-seasons when there is no work available.
3. In case of disguised unemployment, people appear to be employed.
- This statement is correct. Disguised unemployment refers to a situation where more people are engaged in a task or occupation than required. In such cases, the productivity of each individual is very low, and removing a few individuals from the occupation would not affect the overall output. This type of unemployment is common in the agricultural sector, where surplus labor remains engaged in farming activities, resulting in reduced productivity.
4. Rural areas have mostly educated unemployment.
- This statement is not correct. Educated unemployment refers to the situation where educated individuals are unable to find suitable employment according to their qualifications. While educated unemployment can be observed in both rural and urban areas, it is more prevalent in urban areas due to the concentration of industries, higher competition, and limited job opportunities in rural areas. In rural areas, the lack of quality educational institutions and limited access to job opportunities may contribute to underemployment or unemployment, but it may not necessarily be categorized as "educated unemployment."
In conclusion, statement 4 is not correct because rural areas do not necessarily have mostly educated unemployment.
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