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Which method is usually used for calculating the purchasing power parity by the IMF?
- a)Gross Domestic Product
- b)Net domestic product
- c)Net National Product
- d)Gross National Product
Correct answer is option 'A'. Can you explain this answer?
Which method is usually used for calculating the purchasing power parity by the IMF?
a)
Gross Domestic Product
b)
Net domestic product
c)
Net National Product
d)
Gross National Product
|
Deepa Iyer answered |
- GNP is the 'national income' according to which the IMF ranks the nations of the world in terms of the volumes—at purchasing power parity (PPP).
- India is ranked as the 3rd largest economy of the world (after China and the USA), while as per the nominal/ prevailing exchange rate of the rupee, India is the 7th largest economy (IMF, April 2016). Now such comparisons are done using the GDP, too.
“Quantitative, as well as the qualitative aspects of the economy, i.e., the 'internal' as well as the 'external' strength of the economy, are indicated by :- a) Gross National Product
- b) Net National Product
- c) Net domestic product
- d) All of the above
Correct answer is option 'B'. Can you explain this answer?
“Quantitative, as well as the qualitative aspects of the economy, i.e., the 'internal' as well as the 'external' strength of the economy, are indicated by :
a)
Gross National Product
b)
Net National Product
c)
Net domestic product
d)
All of the above
|
Nisha Desai answered |
There are 365 days in a year.
Consider the following statements:1. If the national income is being derived at ‘Factor Cost', the indirect taxes do not need to be deducted from it.2. In this case, the government does not have to add their income accruing from indirect taxes to the national income.Which of these statements is/ are correct?- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)None of the above
Correct answer is option 'D'. Can you explain this answer?
Consider the following statements:
1. If the national income is being derived at ‘Factor Cost', the indirect taxes do not need to be deducted from it.
2. In this case, the government does not have to add their income accruing from indirect taxes to the national income.
Which of these statements is/ are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
None of the above
|
Tanishq Reddy answered |
Market prices, indirect taxes are included and subsidies are excluded.
2. Gross national product (GNP) is the market value of final goods and services produced by the residents of a country, both domestically and abroad.
Both statements are true.
2. Gross national product (GNP) is the market value of final goods and services produced by the residents of a country, both domestically and abroad.
Both statements are true.
Consider the following statements:
1. If the national income is being derived at ‘Factor Cost', the indirect taxes do not need to be deducted from it.
2. In this case, the government does not have to add their income accruing from indirect taxes to the national income.
Which of these statements is/ are correct?
- a)1 Only
- b)Both 1 and 2
- c)2 Only
- d)None of the above
Correct answer is option 'C'. Can you explain this answer?
Consider the following statements:
1. If the national income is being derived at ‘Factor Cost', the indirect taxes do not need to be deducted from it.
2. In this case, the government does not have to add their income accruing from indirect taxes to the national income.
Which of these statements is/ are correct?
a)
1 Only
b)
Both 1 and 2
c)
2 Only
d)
None of the above
|
Kabir Verma answered |
- If the national income is being derived at ‘market cost, the indirect taxes do not need to be deducted from it.
- In this case, the government does not have to add their income accruing from indirect taxes to the national income. It means that the confusion in the case of national income accounting at factor cost is only related to indirect taxes.
Which of the following is required for the proper digestion and absorption of our food?- a)Salt
- b)Air
- c)Water
- d)None of these
Correct answer is option 'C'. Can you explain this answer?
Which of the following is required for the proper digestion and absorption of our food?
a)
Salt
b)
Air
c)
Water
d)
None of these
|
|
Bhavya Datta answered |
Proper Digestion and Absorption of Food: Importance of Water
Digestion is a complex process that occurs in our body to break down the food we eat into nutrients that can be absorbed and used by our body. Absorption, on the other hand, is the process by which these nutrients are taken up by our body and transported to the cells for energy and growth. Both these processes are essential for maintaining good health and require various factors to work together effectively. One of the most crucial factors for proper digestion and absorption of food is water.
Importance of Water in Digestion and Absorption
Water plays a vital role in digestion and absorption of food in the following ways:
1. Lubrication: Water acts as a lubricant in our digestive system, making it easier for food to move through the digestive tract. It also helps prevent constipation by softening the stool.
2. Enzyme activity: Several enzymes involved in digestion require water to function properly. For example, amylase, which breaks down carbohydrates, requires water to function effectively.
3. Dissolving nutrients: Water acts as a solvent, helping to dissolve nutrients in the food we eat and making them more accessible for absorption.
4. Transporting nutrients: Water is also responsible for transporting nutrients from the digestive tract to the cells in our body.
5. Waste removal: Water helps remove waste products from our body, including those from digestion.
Conclusion
In conclusion, water is an essential component of the digestive process and is required for proper digestion and absorption of food. It is essential to drink enough water to ensure that our digestive system works effectively, and we can absorb all the nutrients we need for good health.
Digestion is a complex process that occurs in our body to break down the food we eat into nutrients that can be absorbed and used by our body. Absorption, on the other hand, is the process by which these nutrients are taken up by our body and transported to the cells for energy and growth. Both these processes are essential for maintaining good health and require various factors to work together effectively. One of the most crucial factors for proper digestion and absorption of food is water.
Importance of Water in Digestion and Absorption
Water plays a vital role in digestion and absorption of food in the following ways:
1. Lubrication: Water acts as a lubricant in our digestive system, making it easier for food to move through the digestive tract. It also helps prevent constipation by softening the stool.
2. Enzyme activity: Several enzymes involved in digestion require water to function properly. For example, amylase, which breaks down carbohydrates, requires water to function effectively.
3. Dissolving nutrients: Water acts as a solvent, helping to dissolve nutrients in the food we eat and making them more accessible for absorption.
4. Transporting nutrients: Water is also responsible for transporting nutrients from the digestive tract to the cells in our body.
5. Waste removal: Water helps remove waste products from our body, including those from digestion.
Conclusion
In conclusion, water is an essential component of the digestive process and is required for proper digestion and absorption of food. It is essential to drink enough water to ensure that our digestive system works effectively, and we can absorb all the nutrients we need for good health.
__________ is obtained after baking the slabs made of mud in furnace.- a)Bricks
- b)Cement
- c)Iron rods
- d)None of these
Correct answer is option 'A'. Can you explain this answer?
__________ is obtained after baking the slabs made of mud in furnace.
a)
Bricks
b)
Cement
c)
Iron rods
d)
None of these
|
Chirag Mehra answered |
**Bricks**
Bricks are obtained after baking the slabs made of mud in a furnace. When mud is shaped into slabs, it is called raw bricks. These raw bricks are then fired or baked in a furnace to obtain the final product, which is the hardened and durable bricks that we commonly see being used in construction.
**The Process of Making Bricks:**
1. **Preparation of Mud:** The first step in making bricks is the preparation of the mud. The mud is usually a mixture of clay, sand, and other additives like lime or fly ash. This mixture is thoroughly mixed to ensure a uniform composition.
2. **Shaping the Bricks:** Once the mud is prepared, it is shaped into slabs or rectangular blocks using molds. These slabs are the raw bricks and are still in their soft and wet form.
3. **Drying:** After shaping the bricks, they are left to dry in the sun for a certain period of time. This allows the excess moisture in the bricks to evaporate and the bricks to become firm and solid.
4. **Firing in a Furnace:** The dried bricks are then placed in a furnace or kiln for firing. The furnace is heated to high temperatures, typically around 1000-1200 degrees Celsius. This firing process helps to harden the bricks and make them strong and durable.
5. **Cooling and Stacking:** Once the bricks are fired, they are left to cool down in the furnace. After cooling, the bricks are removed from the furnace and stacked in a proper manner for storage or transportation.
6. **Quality Control:** Before being used in construction, the bricks are subjected to quality control tests to ensure their strength, size, and durability. These tests help in determining the suitability of the bricks for various construction purposes.
**Conclusion:**
In conclusion, the correct answer is option A) Bricks. Bricks are obtained after baking the slabs made of mud in a furnace. The process of making bricks involves shaping the mud into slabs, drying them, firing them in a furnace, and finally cooling and stacking them. Bricks are widely used in construction due to their strength, durability, and thermal properties.
Bricks are obtained after baking the slabs made of mud in a furnace. When mud is shaped into slabs, it is called raw bricks. These raw bricks are then fired or baked in a furnace to obtain the final product, which is the hardened and durable bricks that we commonly see being used in construction.
**The Process of Making Bricks:**
1. **Preparation of Mud:** The first step in making bricks is the preparation of the mud. The mud is usually a mixture of clay, sand, and other additives like lime or fly ash. This mixture is thoroughly mixed to ensure a uniform composition.
2. **Shaping the Bricks:** Once the mud is prepared, it is shaped into slabs or rectangular blocks using molds. These slabs are the raw bricks and are still in their soft and wet form.
3. **Drying:** After shaping the bricks, they are left to dry in the sun for a certain period of time. This allows the excess moisture in the bricks to evaporate and the bricks to become firm and solid.
4. **Firing in a Furnace:** The dried bricks are then placed in a furnace or kiln for firing. The furnace is heated to high temperatures, typically around 1000-1200 degrees Celsius. This firing process helps to harden the bricks and make them strong and durable.
5. **Cooling and Stacking:** Once the bricks are fired, they are left to cool down in the furnace. After cooling, the bricks are removed from the furnace and stacked in a proper manner for storage or transportation.
6. **Quality Control:** Before being used in construction, the bricks are subjected to quality control tests to ensure their strength, size, and durability. These tests help in determining the suitability of the bricks for various construction purposes.
**Conclusion:**
In conclusion, the correct answer is option A) Bricks. Bricks are obtained after baking the slabs made of mud in a furnace. The process of making bricks involves shaping the mud into slabs, drying them, firing them in a furnace, and finally cooling and stacking them. Bricks are widely used in construction due to their strength, durability, and thermal properties.
Consider the following statements:1. The Market Economy, as discussed by Adam Smith, operates primarily through government regulations.2. In a Socialist model, the state controls natural resources but not labor.3. The Non-Market Economy is also known as a command economy or centrally planned economy.Which of the statements given above is/are correct?- a)1 Only
- b)1 and 2 Only
- c)2 and 3 Only
- d)3 Only
Correct answer is option 'D'. Can you explain this answer?
Consider the following statements:
1. The Market Economy, as discussed by Adam Smith, operates primarily through government regulations.
2. In a Socialist model, the state controls natural resources but not labor.
3. The Non-Market Economy is also known as a command economy or centrally planned economy.
Which of the statements given above is/are correct?
a)
1 Only
b)
1 and 2 Only
c)
2 and 3 Only
d)
3 Only
|
Lakshya Ias answered |
1. The Market Economy, as discussed by Adam Smith, operates primarily through government regulations. *(Incorrect)*: Adam Smith's Market Economy is characterized by minimal government intervention, emphasizing the "invisible hand" of the market forces of demand and supply. It operates through laissez-faire policies, which advocate for non-interference by the government.
2. In a Socialist model, the state controls natural resources but not labor. *(Incorrect)*: In the Socialist model, the state controls both natural resources and labor. This ensures that resources are used for the well-being of all and prevents economic inequality by eliminating private property rights.
3. The Non-Market Economy is also known as a command economy or centrally planned economy. *(Correct)*: The Non-Market Economy, often linked to socialism and communism, is indeed referred to as a command economy or centrally planned economy. In this system, the state makes all economic decisions and controls the production and distribution of goods.
Therefore, the correct answer is Option D (3 Only).
In India, which of the following is negative:1. Private remittances2. Interest on external loans3. External GrantsChoose from the following options.- a) 1 and 2 Only
- b) 2 and 3 Only
- c) 1 and 3 Only
- d) All of them
Correct answer is option 'B'. Can you explain this answer?
In India, which of the following is negative:
1. Private remittances
2. Interest on external loans
3. External Grants
Choose from the following options.
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
Zara Khan answered |
Interest on External Loans: the net outcome on the front of the interest payments, i.e., the balance of inflow (on the money lent out by the economy) and outflow (on the money borrowed by the economy) of external interests. In India's case, it has always been negative as the economy has been a 'net borrower' from the world economies.
External Grants: the net outcome of the external grants i.e., the balance of such grants which flow to and from India.
Today, India offers more such grants than it receives. India receives grants (grants or loan-grant mix) from few countries as well as UN bodies (like the UNDP) and offers several developmental and humanitarian grants to foreign nations.
National Income at Factor Cost is equal to: - a) NNP at market cost - subsidies + indirect taxes
- b) NNP at market cost + subsidies + indirect taxes
- c) NNP at market cost - indirect taxes + subsidies
- d) NNP at market cost - indirect taxes - subsidies
Correct answer is option 'C'. Can you explain this answer?
National Income at Factor Cost is equal to:
a)
NNP at market cost - subsidies + indirect taxes
b)
NNP at market cost + subsidies + indirect taxes
c)
NNP at market cost - indirect taxes + subsidies
d)
NNP at market cost - indirect taxes - subsidies
|
|
Meera Singh answered |
- Putting indirect taxes' and 'subsidies' together, India's National Income will thus be derived with the following formula (as India does it at factor cost): National Income at Factor Cost = NNP at Market Cost – Indirect Taxes + Subsidies
MCA21 is a initiative of Ministry of - a) Finance
- b) Commerce industry
- c) Corporate Affairs
- d) Skill, Development and Entrepreneurship
Correct answer is option 'C'. Can you explain this answer?
MCA21 is a initiative of Ministry of
a)
Finance
b)
Commerce industry
c)
Corporate Affairs
d)
Skill, Development and Entrepreneurship
|
Vikram Kapoor answered |
- MCA21 is an e-Governance initiative of the Ministry of Corporate Affairs (MCA), Government of India that enables an easy and secure access of the MCA services to the corporate entities, professionals and citizens of India.
- Use of the MCA21 database for manufacturing companies has helped in accounting for activities other than manufacturing undertaken by these companies.
GDP (at market prices) is equal to :- a) GVA at basic prices + product taxes - product subsidies
- b) GVA at basic prices - production taxes - production subsidies
- c) GVA at basic prices + production taxes + production subsidies
- d) None of them
Correct answer is option 'A'. Can you explain this answer?
GDP (at market prices) is equal to :
a)
GVA at basic prices + product taxes - product subsidies
b)
GVA at basic prices - production taxes - production subsidies
c)
GVA at basic prices + production taxes + production subsidies
d)
None of them
|
|
Vikram Kapoor answered |
- GVA (Gross Value Added) at basic prices = CE + OS/MI + CFC + production taxes less production subsidies.
- GVA at factor cost = GVA at basic prices -production taxes fewer production subsidies.
- GDP = GVA at basic prices + product taxes - product subsidies.
- Production taxes or production subsidies are paid or received with relation to production and are independent of the volume of actual production.
Some examples of production taxes are land revenues, stamps and registration fees and profession tax.
In India, which Ministry/Institution announce the rates by which assets depreciate: - a) Ministry of Finance
- b) Ministry of Commerce and Industry
- c) Reserve Bank of India
- d) Minister of Science and Technology
Correct answer is option 'B'. Can you explain this answer?
In India, which Ministry/Institution announce the rates by which assets depreciate:
a)
Ministry of Finance
b)
Ministry of Commerce and Industry
c)
Reserve Bank of India
d)
Minister of Science and Technology
|
|
Zara Khan answered |
The governments of the economies decide and announce the rates by which assets depreciate (done in India by the Ministry of Commerce and Industry) and a list is published, which is used by different sections of the economy to determine the real levels of depreciation in different assets.
Which of the following can be used to calculate 'National Income' of an economy?- a) Gross Domestic Product
- b) Net National Product
- c) Gross National Product
- d) Net domestic product
Correct answer is option 'B'. Can you explain this answer?
Which of the following can be used to calculate 'National Income' of an economy?
a)
Gross Domestic Product
b)
Net National Product
c)
Gross National Product
d)
Net domestic product
|
|
Zara Khan answered |
- Closely related to the concept of GNP is another concept called NNP of a country.
- NNP is a more accurate measure of the total value of goods and services by a country.
Which of the following are correctly matched? 1. Nominal income - the wage someone gets in hand per day or per month2. Real income - nominal income minus the present-day rate of inflation3. Disposable income - the net part of wage one is free to use which is derived after deducting the Direct Access from the real/nominal incomeChoose from the following options.- 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. Nominal income - the wage someone gets in hand per day or per month
2. Real income - nominal income minus the present-day rate of inflation
3. Disposable income - the net part of wage one is free to use which is derived after deducting the Direct Access from the real/nominal income
Choose from the following options.
a)
1 and 2 Only
b)
2 and 3 Only
c)
1 and 3 Only
d)
All of them
|
|
Zara Khan answered |
- The income of a person has three forms—the first form is nominal income (the wage someone gets in hand per day or per month).
- The second form is real income (this is nominal income minus the present-day rate of inflation-adjusted in percentage form), and
- The last one is the disposable income (the net part of wage one is free to use which is derived after deducting the direct taxes from the real/nominal income, depending upon the need of data).
Consider the following statements: 1. When we divide Net Domestic Product by the total population of a nation we get the per capita income of that nation.2. Higher the rates of depreciation lower the per capita income of the nation.Which of these statements is/are correct?- a) 1 Only
- b) 2 Only
- c) Both 1 and 2
- d) Neither of the above
Correct answer is option 'B'. Can you explain this answer?
Consider the following statements:
1. When we divide Net Domestic Product by the total population of a nation we get the per capita income of that nation.
2. Higher the rates of depreciation lower the per capita income of the nation.
Which of these statements is/are correct?
a)
1 Only
b)
2 Only
c)
Both 1 and 2
d)
Neither of the above
|
|
Deepak Kapoor answered |
- When we divide NNP (Net National Product) by the total population of a nation we get the 'per capita income' (PCI) of that nation, i.e., ‘income per head per year'.
- A very basic point should be noted here that this is the point where the rates of depreciation followed by different nations make a difference.
- Higher the rates of depreciation lower the PCI of the nation (whatever be the reason for it logical or artificial as in the case of depreciation being used as a tool of policy making).
Which among the following materials is used in the construction of pakka houses?- a)Bricks
- b)Mud
- c)Bamboo sticks
- d)Straw
Correct answer is option 'A'. Can you explain this answer?
Which among the following materials is used in the construction of pakka houses?
a)
Bricks
b)
Mud
c)
Bamboo sticks
d)
Straw
|
Kalyani Barik answered |
Bricks is a construction of pakka house
Chapter doubts & questions for Introduction - Indian Economy for State PSC Exams 2024 is part of BPSC (Bihar) exam preparation. The chapters have been prepared according to the BPSC (Bihar) exam syllabus. The Chapter doubts & questions, notes, tests & MCQs are made for BPSC (Bihar) 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests here.
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