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Answer Key UPSC Prelims 2022 GS 1 - Download

Static Quiz

Static Quiz – 18th April 2022

1. Consider the following statements regarding  Fiscal Responsibility and Budget  Management (FRBM) Act, 2003:  

  1. It provides for a legal-institutional  framework for fiscal consolidation.
  2. It aids in making monetary policy  independent of fiscal policy.

Which of the statements given above is/are  correct?

 
 
 
 

2. Which of the following terms describes the  shift of labor from regular salaried  employment to daily wage work?

 
 
 
 

3. For commercial banks higher Statutory  Liquidity Ratio (SLR) is preferred over  higher Cash Reserve Ratio (CRR) because:

  1. Assets under SLR can be more readily  liquidated than those under CRR.  
  2. Assets under CRR do not earn interest  while those under SLR do.

Select the correct answer using the code  given below.

 
 
 
 

4. With reference to GDP Deflator, consider  the following statements: 

  1. It is the ratio of nominal GDP to real  GDP. 
  2. It includes the prices of imported goods.

Which of the statements given above is/are  correct?

 
 
 
 

5. Which of the following is/are the features of  “circular flow of income”? 

  1. Producer produces the final goods for  the consumption of the public.  
  2. Public contributes its resources to the  production of final goods.

Select the correct answer using the code  given below.

 
 
 
 

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