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Indian Economy Quiz: Inflation & Unemployment | 17 July, 2021

Posted on July 17th, 2021 Last modified on July 18th, 2021 Comments

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Marking Pattern

Correct Answer : 2

Wrong Answer : -0.66

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CHOOSE A QUESTION

Time Left :5

Question No. 1

“A graphic curve which advocates a relationship between inflation and unemployment in an economy”- describes which of the following?

Quarterly-SFG-Jan-to-March

APhillips curve

BLaffer Curve

CLorrenz curve

DGini coefficient

✕

Question No. 2

“Fiscal Stimulus” is provided to different sectors of an economy to promote the growth. Which of the following measure (s) is/are constitutes fiscal stimulus?
1. Lowering interest rates
2. Tax rebates
3. Export subsidies
Select the correct answer using the code given below:

Quarterly-SFG-Jan-to-March

A1 only

B1 and 2 only

C2 and 3 only

D1, 2 and 3

✕

Question No. 3

A graph showing the degree of inequality in income and wealth in a given population or an economy – describes which of the following?

Quarterly-SFG-Jan-to-March

ALaffer Curve

BLorenz Curve

CPhillips Curve

DKuznets Curve

✕

Question No. 4

Consider the following statements regarding the traits of “recession”:
1. General rise in demand.
2. Inflation remains higher and no signs of going down.
3. Employment rate falls.
Which of the statements above given is/are correct?

Quarterly-SFG-Jan-to-March

A1 only

B1 and 2 only

C3 only

D1, 2 and 3

✕

Question No. 5

The concept which shows relationship between inflation and the interest rate, expressed by an equation – formulated by which of the following?

Quarterly-SFG-Jan-to-March

AAdam Smith

BDavid Ricardo

CIrving Fischer

DArthur Laffer

✕

Question No. 6

The government of India in June 2019 set up a working group to revise the current series of Wholesale Price Index (WPI) and devise a new Producer Price Index (PPI). The group is headed by which of the following?

Quarterly-SFG-Jan-to-March

ARamesh Chand

BB. N. Goldar

CBimal Jalan

DSoumya Kanti Ghosh

✕

Question No. 7

Which of the following organization conducts the “Periodic Labour Force Surveys (PLFS)”?

Quarterly-SFG-Jan-to-March

ANITI Aayog

BCentral Statistical Office

CNational Sample Survey Office (NSSO)

DMinistry of Labour

✕

Question No. 8

Which of the following pair (s) is/are correctly matched?
1. Index:Base Year
1. Wholesale price index:2014-15
2. Consumer price index:2004-05
3. Gross Domestic Product:2011-12
Select the correct answer using the code given below:

Quarterly-SFG-Jan-to-March

A1 only

B3 only

C1 and 3 only

D2 and 3 only

✕

Question No. 9

Which one among the following items has least weight in wholesale price index (WPI)?

Quarterly-SFG-Jan-to-March

ARaw materials

BFuel and power

CFood Items

DManufactured products

✕

Question No. 10

With reference to the “effects of inflation”, which of the following statements is/are correct?
1. Borrowers suffer and lenders benefit out of inflation.
2. Rising inflation indicates rising aggregate demand.
Select the correct answer using the codes given below:

Quarterly-SFG-Jan-to-March

A1 only

B2 only

CBoth 1 and 2

DNeither 1 nor 2

✕

Total Number of Questions :

Total Not Attempted Questions :

Total Correct :

Total Wrong :

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Published July 17, 2021By ForumIAS

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