MPTET Varg 1 Economics Mock Test - 3 - MPTET MCQ

दिए गए विकल्पों में से सही उत्तर विकल्प 1 ‘चिड़ियाँ’ है। अन्य विकल्प इसके गलत उत्तर हैं।

स्पष्टीकरण

• दिए गए विकल्पों में 'चिड़ियाँ' शब्द बहुवचन है।
• चिड़ियाँ का एकवचन 'चिड़िया' होता है।
• चिड़िया अर्थात गौरैया।
• यह आकाश में उड़ने वाला एक छोटा सा जीव है।

अन्य विकल्प:

• खिलौना - खिलौने
• कहानी - कहानियाँ
• शाखा - शाखाएँ

अन्य संबंधित बिंदु

सही उत्तर है - 'स्थापत्यकला।'

• दिए गये विकल्पों में से 'स्थापत्यकला।' रिक्त स्थान के लिए सर्वश्रेष्ठ शब्द है।

संपूर्ण वाक्य - "ताजमहल स्थापत्यकला एक अदभूत नमूना है।"

स्पष्टीकरण

स्थापत्यकला का अर्थ है - भवन बनाने की कला

अन्य विकल्प -

• शिल्पकला - दस्तकारी का कौशल।
• चित्रकला - चित्र बनाने की कला।
• मूर्तिकला - मूर्ति बनाने की कला।

अतिरिक्त जानकारी

विकल्पों में दिए गये अन्य शब्दों का वाक्य प्रयोग:-

• भारत की शिल्पकला प्राचीन काल से ही उत्कृष्ट है।
• भवन में उत्कृष्ट चित्रकला के नमूने है।
• मंदिर की मूर्तिकला अतुल्य है।

सही उत्तर है - ‘निर्मम’।

• ‘जो ममत्व से रहित हो’ उपयुक्त वाक्यांश के अर्थ को व्यक्त करने वाला सही शब्द ‘निर्मम’ होगा।

स्पष्टीकरण

अन्य विकल्प :

• जिसे कोई रोग न हो : निरामय।
• अनुराग न रखनेवाला : निर्मोही।
• जिसमें दया न हो : निष्ठुर।

महत्वपूर्ण बिंदु

अन्य महत्वपूर्ण वाक्यांश के लिए एक शब्द :-

• जो किसी भी गुट में नहीं हो – तटस्थ।
• ईश्वर में आस्था रखने वाला – आस्तिक।
• ऊपर कहा हुआ – उपर्युक्त।
• जो परीक्षा में पास न हो – अनुत्तीर्ण।

अतिरिक्त जानकारी

• किसी वाक्य में प्रयुक्त या स्वतन्त्र, किसी वाक्यांश के लिए किसी एक शब्द का प्रयोग किया जाता है,
  जो उस वाक्यांश के अर्थ को पूरी तरह सिद्ध करता हो तो उसे वाक्यांश के लिए एक शब्द कहते हैं, अर्थात
  अनेक शब्दों के लिए एक शब्द को प्रयुक्त करना ही वाक्यांश के लिए एक शब्द कहलाता है।

The correct answer is "He behaves as if he was a king.".

Explanation

• The subject in the preceding line is singular, but the sentence serves as an instance of the subjunctive mood because it refers to a fictitious circumstance in which the subject is not physically present.
• Singular subjects are linked with past-tense plural verbs in the subjunctive mood.
• "Was" should be pluralized here as "were".
• The correct sentence would be - He behaves as if he were a king.

​The incorrect sentence is "He behaves as if he was a king".

Therefore, the correct answer is option 2.

The correct answer is Sikandar Lodī.
Explanation

• Sikandar Lodi (1489-1517 AD)​:
  • Modern Agra was founded by Sikandar Lodhi in the 16th century.
  • He shifted the capital from Delhi to Agra in 1506.
  • Babur, the founder of the Mughal dynasty, also stayed for some time in Agra and introduced the concept of square Persian-styled gardens here.
  • Emperor Akbar built the Agra fort and Fatehpur Sikri near Agra.​

Other Related Points

• Babur
  • He is the founder of the Mughal Empire.
  • He fought the first Battle of Panipat in 1526 with Ibrahim Lodhi and laid the foundation of the Mughal Empire.
  • His autobiography Tuzuk-i-Babri was written in the Turkish Language.
  • In 1527 his general Mir Baki built Babri Maszid.
  • He died in 1530.

• Akbar
  • He was born in 1542 at Amarkot.
  • He fought the second battle of Panipat in 1556 with Hemu and he defeated Hemu.
  • He abolished the religious tax Jizya.
  • He founded a new religion "Din-i- Allahi".
  • His biography was written by Abul Fazal " Ain-i-Akbari".
• Raja Bhoj
  • He was a famous scholar and poet of Sanskrit.
  • He ruled 'Dhar' from 1000 AD to 1055 AD.
  • He was a descendant of "Chakravarti Emperor Vikramaditya".
  • He was born in 980 AD in Ujjaini, the city of Maharaja Vikramaditya.
  • He made 'Dhar' his new capital in place of 'Ujjain'.​

An achievement exam is a test of acquired skill or knowledge. The most common type of achievement test is a standardized exam designed to assess skills and information acquired in a certain grade level, usually through organized teaching, such as training or classroom instruction.

ExplanationAn achievement test is a type of assessment that is used to determine a person's level of ability, accomplishment, or understanding in a certain field.

• Achievement tests are assessments that assist pupils to learn about the success or failure of the courses and abilities taught in school.
• The achievement test demonstrates the individual's ability to achieve.
• Achievement exams are distinct from aptitude tests in that they have a particular objective. An achievement exam is used to assess a person's ability, accomplishment, or understanding in a certain field.
• Teachers may use achievement exams to learn about their students' strengths and weaknesses in various areas and talents, allowing them to better prepare them for various contests.
• Achievement assessment test include things like spelling bees, timed math examinations, and map quizzes. Each assesses students' ability to demonstrate their understanding of a certain academic subject or skill. In schools, small-scale achievement exams like this are common.

As a result, the statement "The achievement test does not demonstrate the individual's ability to achieve." is incorrect regarding achievement test.

Other Related Points

• Questions on the accomplishment exam are meant to quantify the amount of achievement and assess a person's development. An achievement test is a type of assessment that is used to determine a person's level of ability, accomplishment, or knowledge in a certain field.
• An achievement exam is used to assess a person's ability, accomplishment, or understanding in a certain field. The achievement test reveals how far you've come. Achievement tests are vulnerable to variation according to culture, educational exposures, and experience, and they must be standardized for social factors. An accomplishment exam analyses a person's current performance to see how he or has learned over time and what he has learned.

Planning is an important tool in the teaching-learning process as proper planning helps teacher in setting and achieving learning objectives.

Explanation

A plan prepared keeping in view of the lessons to be taught month-wise in an academic year is called 'year plan' as it is a systematic annual teaching plan which helps teachers in:

• establishing proper correlation between different lessons.
• engaging students effectively in teaching-learning process.
• outlining learning objectives and creating realistic timeline.
• maintaining a standard teaching pattern throughout the year.
• making teaching-learning process more regular and organised.

Hence, it could be concluded that a plan prepared keeping in view of the lessons to be taught month-wise in an academic year is called 'year plan'.

Other Related Points

Communication is an exchange of information through some media. Here a sender, receiver, media and feedback arethe main components.

• In Humans, there are two types of communication.

1. Interpersonal Communication: this is communication between two or more people.
2. Intrapersonal Communication: this is communication within the individual.

Explanation

• Intrapersonal communication:

1. Intrapersonal communication is the communication that happens within the individual. This is the basis of all types of communication.
2. Intrapersonal communication includes:

• Sensemaking- understanding senses or forming perceptions and attitudes about the environment
• Forming attitudes, personalities and self-understanding in relation to others in the society
• Self-talk or observing oneself progress in learning and becoming aware of how the person is responding and understanding the world around them.
• Intrapersonal communication is not visible outside and happens within the individual at the stage of thing and analysis.
• This type of communication lays the foundation for intrapersonal communication.

Hence, it can be concluded that a student making understanding a lesson to self is the best example of internal or intrapersonal communication.

• When a person uses a good or service, they may feel personally and uniquely satisfied or happy. This is referred to as subjective utility. It varies from person to person and is dependent on the individual's particular preferences, beliefs, and experiences.
• Because it is arbitrary and changes from person to person, subjective utility cannot be directly assessed. However, it serves as the foundation for consumer decision-making when they select products or services based on the subjective value they anticipate obtaining from doing so.

Hence, Utility is a subjective concept.

Concept:

Correlation Coefficient: The correlation coefficient is a statistical measure of the strength of the relationship between the relative movements of two variables.
If the two lines of regression are perpendicular to each other, then correlation coefficient, r = 0

Calculation:
When regression lines perpendicular to each other then angle will be 90°

If θ = 90° then r = 0
Here, two lines of regression are perpendicular so, the correlation coefficient r is 0
Hence, option (3) is correct.

The correct answer is option 2.

Explanation

• 12th five year plan
  • The twelfth five year plan is a national economic blueprint that is centralized and integrated.
  • It came into existence in 2012 and worked until 2017.
  • The subtitle and the slogan reflects the overarching vision and ambitions that the twelfth plan aims to achieve.
  • The slogan is " Faster, Sustainable and More inclusive growth".
  • During 12th five year plan, the government aims to reduce poverty by 10%.
  • The main aim was to accelerate and achieve a per-annum growth rate in agriculture.
  • This plan was based on preserving the resources of present generation so that future generation will also get benefit of these. Also known as concept of sustainable development.
• Hence it can be concluded that the slogan of 12th five year plan is "Faster, Sustainable and more inclusive growth".

The correct answer is option 2.

Explanation

• Fiduciary issue:
  • Fiduciary issue is the issue of currency notes without the backing of gold and silver.
  • This system was first introduced in England under the Bank Charter Act of 1844 and still prevails.
  • India followed this system between 1862 and 1920.
  • Under this, all notes issue in excess of this limit should be fully backed by gold and silver reserves.
  • It ensures convertibility of currency notes.
  • It inspired public confidence since the government guarantees the convertibility of notes.
• Hence, it can be concluded that issue of currencies is fiduciary issue.

The correct answer is 100%.

Explanation

• The FDI Policy permits 100% FDI in the railway's infrastructure sector.
• FDI is permitted in the construction, operation, and maintenance of the railway transport sector.
• Some key investment opportunities for private players in the Railways sector include the following:
  • Suburban corridor projects through PPP model
  • High-speed train projects
  • Dedicated freight lines
  • Rolling stock including train sets, and locomotives/coaches manufacturing and maintenance facilities
  • Railway electrification
  • Signalling systems
  • Freight terminals
  • Passenger terminals
  • Infrastructure in industrial park pertaining to railways line/sidings including electrified railways lines and connectivity to the main railway's line
  • Mass Rapid Transport Systems

Concept:

Variance: Let x_i for i = 1, 2, 3, …, n be observations then variance is given as:

Properties of variance:

• Var(X + C) = Var(X), where C is a constant.
• Var(CX) = C² × Var(X), where C is a constant.

Calculation:

Given: Var(X) = 5

Each observation is multiplied by 2.

So, new variance = Var(2X)

= 2² × 5

= 20

the correct answer is National Development Council.

Explanation

• The National Development Council (NDC) headed by the Prime Minister with all Chief Minister and cabinet ministers are the final authority to approve the five-year-long policy.
  • The Planning Commission was an institution in the Government of India, which formed India's Five-Year Plans.
• In 2014, Prime Minister Shri Narendra Modi announced to dissolve the Planning Commission and replace it by a new institution named NITI Aayog.

Other Related Points

• Finance ministry or Ministry of Finance is a ministry which concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget.
• Current Finance Minister of India - Nirmala Sitharaman
• Minister of State for Finance - Anurag Thakur
• ​International Monetary Fund (IMF) was initiated in 1944 at the Bretton Woods Conference. Headquartered in Washington, D.C.

The correct answer is Trade-Related Investment Measures.

Explanation

• TRIM- Trade-Related Investment Measures
• Trade-Related Investment Measures is one of the four principal legal agreements of the World Trade Organization trade treaty.
• TRIMs are rules that restrict the preference of domestic firms and thereby enable international firms to operate more easily within foreign markets.
• The TRIMs Agreement under WTO prohibits certain measures that violate the national treatment and quantitative restrictions requirements of the General Agreement on Tariffs and Trade (GATT).
• The Agreement allows developing countries to deviate temporarily from its provisions on the balance of payments (BOP) grounds.
• Prohibited TRIMs may include requirements to:
  • achieve a certain level of local content
  • produce locally; export a given level/percentage of goods
  • balance the amount/percentage of imports with the amount/percentage of exports
  • transfer technology or proprietary business information to local persons
  • balance foreign exchange inflows and outflows

Other Related Points

• The agreement, concluded in 1994, was negotiated under the WTO's predecessor, the General Agreement on Tariffs and Trade, and came into force in 1995.
• The agreement was agreed upon by all members of the World Trade Organization.

• The only international agency addressing universal trade laws is the World Trade Organization (WTO). Its main goal is to make sure that trade moves as smoothly, predictably, and freely as possible.
• The WTO now has 159 member nations.
• Governments from the WTO's members run it. The membership as a whole makes all significant decisions, either through ministers (who meet at least twice every two years) or through their ambassadors or delegates (who meet regularly in Geneva).

Hence, the correct answer is that the world trade organization is not related to the World Bank.

The correct answer is Agriculture.

Explanation

• The agriculture sector faces the problem of seasonal unemployment.
• ​Seasonal unemployment is unemployment that occurs during a certain season of the year.
  • Unemployment of the farmers during the non-crop season is an example of seasonal unemployment.
  • It is a common form of unemployment in rural areas.
  • Unemployment rate = (Unemployed Workers / Total labour force) × 100
• The primary job of farmers is to sow and harvest rabi and Kharif crops.
  • His source of income comes from selling crops.
  • The time wherein there is no crop to sow or harvest or sell is the period when he is unemployed.

The correct answer is 4

Explanation

• The investment multiplier refers to the number of times by which the increase in output or income exceeds the increase in investment.
• It is measured as the ratio between the change in income and change in investment and it is denoted as 'k'.
• K= 1/ MPS
• K= 1/ 0.25 = 4 times.

Other Related Points

• Marginal Propensity to save refers to the percentage change in savings for every one rupee of change in the income.
• It is the ratio between the change in income and its corresponding change in savings.
• Multiplier(k) => Change in income / change in investment = 1/ MPS(s), where MPS(s) is the marginal propensity to save.

The correct answer is A survey of the consumption in NSSO families.

Explanation

• Poverty Estimation in India:
  • Poverty estimation in India is carried out by NITI Aayog’s task force through the calculation of the poverty line based on the data captured by the National Sample Survey Office(NSSO) under the Ministry of Statistics and Programme Implementation (MOSPI).
  • Poverty line estimation in India is based on consumption expenditure and not on income levels.
  • Poverty is measured based on consumer expenditure surveys of the National Sample Survey Organisation.
  • A poor household is defined as one with an expenditure level below a specific poverty line.
  • The incidence of poverty is measured by the poverty ratio, which is the ratio of the number of poor to the total population expressed as a percentage.
  • It is also known as the head-count ratio.
• Measurement of Unemployment in India:
  • National Sample Survey Office (NSSO), an organization under the Ministry of Statistics and Programme Implementation (MoSPI) measure unemployment in India on following approaches:
  • Usual Status Approach:
  • This approach estimates only those persons as unemployed who had no gainful work for a major time during the 365 days preceding the date of the survey.
  • Weekly Status Approach:
  • This approach records only those persons as unemployed who did not have gainful work even for an hour on any day of the week preceding the date of the survey.
  • Daily Status Approach:
  • Under this approach, the unemployment status of a person is measured for each day in a reference week.
  • A person having no gainful work even for 1 hour in a day is described as unemployed for that day.

Other Related Points

Poverty:

• Poverty is a state or condition in which a person or community lacks the financial resources and essentials for a minimum standard of living.
• Poverty means that the income level from employment is so low that basic human needs can't be met.
• In India, 21.9% of the population lives below the national poverty line in 2011.
• In 2018, almost 8% of the world’s workers and their families lived on less than US$1.90 per person per day (international poverty line).
• Types of Poverty:
• There are two main classifications of poverty:
• Absolute Poverty:
  • A condition where household income is below a necessary level to maintain basic living standards (food, shelter, housing). This condition makes it possible to compare between different countries and also over time.
  • It was first introduced in 1990, the “dollar a day” poverty line measured absolute poverty by the standards of the world's poorest countries.
  • In October 2015, the World Bank reset it to $1.90 a day.
• Relative Poverty:
  • It is defined from the social perspective that is the living standard compared to the economic standards of the population living in surroundings. Hence it is a measure of income inequality.
  • Usually, relative poverty is measured as the percentage of the population with income less than some fixed proportion of median income.

Unemployment:

• Unemployment occurs when a person who is actively searching for employment is unable to find work.
• Unemployment is often used as a measure of the health of the economy.
• The most frequent measure of unemployment is the unemployment rate, which is the number of unemployed people divided by the number of people in the labour force.
• National Sample Survey Organization (NSSO) defines employment and unemployment on the following activity statuses of an individual:
  • Working (engaged in economic activity) i.e. 'Employed'.
  • Seeking or available for work i.e. 'Unemployed'.
  • Neither seeking nor available for work.
• The first two constitutes the labour force and the unemployment rate is the per cent of the labour force that is without work.

Unemployment rate = (Unemployed Workers / Total labour force) × 100

The correct answer is Both (1) and (2) are correct.

Explanation

Net National Product or NNP

• It is the market value of all the finished goods and services that are produced by citizens of a nation, living Domestically and Internationally during a year.
• The net national product can be calculated by the following formula:
  • NNP = GNP – Depreciation
  • NNP = GDP + Income from Abroad - Depreciation
• Net National Product is also referred to as the value that is obtained by subtracting depreciation from the gross national product (GNP).
• Net national product considers all the goods, products, and services that are manufactured by the country’s citizens, irrespective of their location, or in other words, net national product considers products that are produced domestically and also from overseas.
• NNP is one of the important metrics for determining the actual growth of a nation.
• NNP of an economy is the GNP after deducting the loss due to depreciation
• It measures how much the country is able to consume in a given period of time.

Other Related Points​

• When the net national product (NNP) of a country declines or falls, then the businesses consider moving to industries that are deemed to be recession-proof.
• The Depreciation that is calculated refers to the wear and tear of the capital assets and the depreciation of human capital is observed when there is workforce turnover.
• The extent of workforce turnover helps in understanding the resources that will be required to be spent by the companies in order to find new employees.
• This concludes the concept of NNP which is one of the indicators of the economic health of a nation.

The correct answer is The marginal product of a factor input initially rises with its employment level, but after reaching a certain level of employment, it starts falling.

Explanation

• The Law of Variable Proportion is regarded as a key economics concept.
• According to the law of variable proportions, as one factor's amount is raised while the other factors remain constant, the marginal product of that factor will eventually decrease.
• This means that the variable factor's marginal product may increase up to a certain point when it is used, but after that point, it begins to diminish.
• It's possible for the marginal product to turn negative when the variable element is quite abundant.
• The total product will initially increase at a rising pace, then it will increase at a diminishing rate, and finally, there will be a fall in the production rate when the variable factor is increased while keeping all other elements constant.

Important Points

• According to the law of declining marginal productivity, the productivity gained from each subsequent unit produced once a factor of production is improved will only slightly increase from one unit to the next.

The correct answer is option 4.

Explanation

• NAMA-Non agricultural market access.
  • it relates to trade negotiations on non agricultural or industrial products.
  • It is a part of World Trade organization(WTO).
  • In NAMA negotiations, WTO members discuss the terms for reducing or eliminating customs tariff and non tariff barriers on trade in industrial products.
  • The product coverage under NAMA includes marine products, chemicals, rubber products, wood products, textiles and clothing, glassware, electronics automobiles etc.
  • Hence, it can be concluded that Non agricultural market access is a part of WTO.

The correct answer is Manmohan Singh.

Explanation

• The Finance Minister of India at the time of the Economics reforms in 1991 was Manmohan Singh.
• He was the 22nd Finance Minister of India in the government of the congress party under Prime Minister P.V Narasimha Rao.
• He introduced Economic Reforms 1991(New Economic Policy 1991) and opened up the Indian Economy to the rest of the world.
• The main features of the New Economic Policy were Liberalization, Privatization and Globalization.

Other Related Points

• Manmohan Singh also served as the 13th Prime Minister of India from 2004 to 2014,15th Governor of the Reserve Bank of India and chairman of the University Grants Commission.

Hence, Manmohan Singh was the Finance Minister of India when economic reforms and liberalization started in 1991.

The correct answer is option 3, i.e. as the price rises, the demand falls.

Explanation

Law of Demand -

• The amount of a good that a consumer would optimally choose is likely to increase when the price of the good falls and it is likely to decrease with a rise in the price of the good.
• This means the price rises, the demand falls. Hence option 3 is correct.
• However, this rule is not valid for high-value goods whose demand increases when the price rises.
• A fall in the price of one commodity would cause an increase in the demand of the complementary commodity. For example, other factors being constant, fall in prices of sugar would increase the demand for tea and vice versa. This commodity is called the complementary commodity.
• Substitute goods or competing goods are those which can be used in place of a commodity.
• Tea and coffee are substitute goods. If there is a rise in the prices of tea, there is an increase in demand for coffee. This is called Substitution effect

The correct answer is both the demand for money and private sector spending is interest interest-sensitive.

ExplanationCrowding out effect-

• Crowding out is the process under private sector's investment decreases when government takes excessive borrowing for invent in economy.
• It happens when demand for money and private sector spending both are interest sensitive.
  • Demand for money is interest sensitive, it means demand responses quickly as interest rate changes
  • Similarly private sector spending responses quickly when it is interest sensitive.
• When government make high deficit budget, government borrowing increases in large amount in the economy.
• In this situation credit availability of credit decreases and interest rate increases.
• Consequently, private investment decreases.

Other Related Points Budget deficit-

• Budget deficit is the excess of government expenditure over government receipts.
• It is generated due the borrowing by the government so it is always equal to borrowings.
• Government borrow from market through treasury bills, government bonds, external commercial borrowings etc.
• These borrowings creates budget deficit.
• When economy doesn't grow even after deficit budget government is trapped by budget.
• In this situation government takes borrow to clear its previous borrowing, it lead an economy to crowding out.

The correct answer is All of the above

The correct answer is Medium of Exchange.

Explanation

• Medium of Exchange is a primary function of Money.
• Money is generally accepted everywhere so it gives opportunities for the medium of exchange.
  • Money removes the problem of double coincidence of the Barter exchange system.

Other Related Points

• There are mainly three types of functions of money:

The correct answer is ​Interdependent.

Explanation

• When we produce a good by exploiting natural resources, it is an activity of the primary sector.
• It is known as the agricultural and allied sector services.
• The secondary sector covers activities in which natural products are changed into other forms through ways of manufacturing that we associate with industrial activity.
• It is known as the manufacturing sector.
• After primary and secondary, there is a third category of activities that falls under the tertiary sector and is different from the above two.
• These are activities that help in the development of the primary and secondary sectors.
• These activities, by themselves, do not produce a good but they are an aid or support for the production process.
• Hence, option 4 is correct.

• Inflation is a good indicator of economic growth because whenever there is economic growth, the wealth of the people of the country also increases.
• Due to increase in wealth, the spending increases. As the spending increases, the demand increases leading to increase in price causing inflation.