Economics : Civil Services Exam 2015 Question Paper Analysis

Difficulty : Medium

Topic Hierarchy : Welface/Social Schemes

Resource : Current Affairs

Q1. 'Pradhan Mantri Jan-Dhan Yojana' has been launched for

1. providing housing loan to poor people at cheaper interest rates.
2. promoting women's Self Help Groups in backward areas
3. promoting financial inclusion in the country
4. providing financial help to the marginalized communities. 

Difficulty : Medium

Topic Hierarchy : Public Financing

Resource : Current Affairs

Q2. With reference to the Fourteenth Finance Commission, which of the following statements is/are correct?

1. It has increased the share of States in the central divisible pool from 32 percent to 42 percent.

2. It has made recommendations concerning sector-specific grants.

Select the correct answer using the code given below.

1. 1 only
2. 2 only
3. Both 1and 2
4. Neither 1 nor 2 

Difficulty : Medium

Topic Hierarchy : National Income Accounting

Resource : NCERT

Q3. A decrease in tax to GDP ratio of a country indicates which of the following?

1. Slowing economic growth rate

2. Less equitable distribution of national income

Select the correct answer using the codes given below.

1. 1 only
2. 2 only
3. Both 1and 2
4. Neither 1 nor 2 

Difficulty : Medium

Topic Hierarchy : Sectors of Economy > Manufacturing

Resource : Economic Survey

Q4. In the 'Index of Eight Core Industries', which one of the following is given the highest weight?

1. Coal production
2. Electricity generation
3. Fertilizer production
4. Steel production

Difficulty : Medium

Topic Hierarchy : Sectors of Economy > Agriculture

Resource :

Q5. The Fair and Remunerative Price (FRP) of surgarcane is approved by the

1. Cabinet Committee on Economic Affairs.
2. Commission for Agricultural Costs and Prices.
3. Directorate of Marketing and Inspection, Ministry of Agriculture
4. Agricultural Produce Market Committee 

Difficulty : Medium

Topic Hierarchy : Money and Banking

Resource : NCERT

Q6. When the Reserve Bank of India reduces the Statutory Liquidity Ratio by 50 basis points, which of the following is likely to happen ?

1. India's GDP growth rate increases drastically
2. Foreign Institutional Investors may bring more capital into our country
3. Scheduled Commercial Banks may cut their lending rates.
4. It may drastically reduce the liquidity to the banking system 

Difficulty : Medium

Topic Hierarchy : Sectors of Economy > Agriculture

Resource :

Q7. In India, markets in agricultural products are regulated under the

1. Essential Commodities Act, 1955
2. Agricultural Produce Market Committee Act enacted by States
3. Agricultural Produce (Grading and Marking) Act, 1937
4. Food Products Order, 1956 and Meat and Food Products Order, 1973

Difficulty : Medium

Topic Hierarchy : Balance of Payments

Resource : NCERT

Q8. Convertibility of rupee implies

1. being able to convert rupee notes into gold
2. allowing the value of rupee to be fixed by market forces
3. freely permitting the conversion of rupee to other currencies and vice versa.
4. developing an international market for currencies in India.  

Difficulty : Medium

Topic Hierarchy : Public Financing

Resource :

Q9. With reference to the Union Government, consider the following statements:

1. The Department of Revenue is responsible for the preparation of Union Budget that is presented to the Parliament.

2. No amount can be withdrawn from the Consolidated Fund of India without the authorization from the Parliament of India. 

3. All the disbursements made from Public Account also need the authorization from the Parliament of India.

Which of the statements given above is/are correct?

1. 1 and 2 only
2. 2 and 3 only
3. 2 only
4. 1, 2 and 3

Difficulty : Medium

Topic Hierarchy : Sectors of Economy > Agriculture

Resource :

Q10. Consider the following statements:

1. The Accelerated Irrigation Benefits Programme was launched during 1996-97 to provide loan assistance to poor farmers.

2. The Command Area Development Programme was launched in 1974-75 for the development of water-use efficiency.

Which of the statements given above is/are correct?

1. 1 only 
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2 

Difficulty : Medium

Topic Hierarchy : Money and Banking

Resource : Current Affairs

Q11. 'Basel III Accord' or simply 'Basel III' often seen in the new, seeks to

1. develop national strategies for the conservation and sustainable use of biological diversity
2. improve banking sector's ability economic stress and improve risk management
3. reduce the greenhouse gas emissions but places a heavier burden on developed countries
4. transfer technology from developed countries to poor countries to enable them to replace the use of chlorofluorocarbons in refrigeration with harmless chemicals 

Difficulty : Medium

Topic Hierarchy : National Income Accounting

Resource : NCERT

Q12. With reference to Indian economy, consider the following statements:

1. The rate of growth of Real Gross Domestic Product has steadily increased in the last decade.

2. The Gross Domestic Product at market prices (in rupees) has steadily increased in the last decade.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Difficulty : Medium

Topic Hierarchy : Money and Banking

Resource : NCERT

Q13. With reference to Indian economy, consider the following:

1. Bank rate

2. Open market operations

3. Public debt

4. Public Revenue

Which of the above is/are component/components of Monetary Policy?

1. 1 only
2. 2, 3 and 4
3. 1 and 2
4. 1, 3 and 4

Difficulty : Medium

Topic Hierarchy : Money and Banking

Resource : NCERT

Q14. With reference to inflation in India, which of the following statements is correct?

1. Controlling the inflation in India is the responsibility of the Government of India only
2. The Reserve Bank of India has no role in controlling the inflation
3. Decreased money circulation helps in controlling the inflation 
4. Increased money circulation helps in controlling the inflation

Difficulty : Medium

Topic Hierarchy : Sectors of Economy > Agriculture

Resource :

Q15. The substitution of steel for wooden ploughs in agricultural production is an example of

1. labour-augmenting technological progress
2. capital-augmenting technological progress
3. capital-reducing technological progress
4. None of the above

Difficulty : Medium

Topic Hierarchy : Balance of Payments

Resource :

Q16. The problem of international liquidity is related to the nonavailability of

1. goods and services 
2. gold and silver
3. dollars and other hard currencies
4. exportable surplus 

Difficulty : Medium

Topic Hierarchy : Sectors of Economy > Agriculture

Resource : Current Affairs

Q17. Which one of the following best describes the main objective of 'Seed Village Concept'?

1. Encouraging the farmers to use their own farm seeds and discouraging them to buy the seeds from others
2. Involving the farmers for training in quality seed production and thereby to make available quality seeds to others at appropriate time and affordable cost
3. Earmarking some villages exclusively for the production of certified seeds
4. Identifying the entrepreneurs in villages and providing them technology and finance to set up seed companies 

Difficulty : Medium

Topic Hierarchy : Public Finance

Resource : NCERT

Q18. There has been a persistent deficit budget year after year. Which of the following actions can be taken by the government to reduce the deficit?

1. Reducing revenue expenditure

2. Introducing new welfare schemes

3. Rationalizing subsidies

4. Expanding industries

Select the correct answer using the code given below.

1. 1 and 3 only
2. 2 and 3 only
3. 1 only
4. 1, 2, 3 and 4 

Topic wise distribution :

• Money and Banking : 4 Questions
• Public Finance : 3 Questions
• Sector of Economy : 6 Questions
• National Income Accounting : 2 Questions
• Balance of Payments : 2 Questions
• Welfare/Social Schemes : 1 Question

Resource wise distribution :

• NCERTs : 7 Questions
• Current Affairs : 4 Questions
• Economic Survey : 1 Question
• Unknown : 6 Questions

Difficulty wise distribution :

• Easy
• Medium
• Difficult :