UPSC Prelims Marathon 19th March – Inflation & Business Cycle – 2024

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We are posting prelims marathon MCQs for today. In this initiative, you can attempt 10 subjective MCQs daily. Daily Quiz UPSC Prelims Marathon 19 Mar Inflation & Business Cycle

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Marking Pattern

Correct Answer : 2

Wrong Answer : -0.66

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CHOOSE A QUESTION

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Time Left :5

Question No. 1

Consider the following statements:
1.When the general level of prices falls over time, it is known as disinflation.
2.The inflation rate is measured by the Wholesale Price Index and Consumer Price Index.
Which of the statements given above is/are correct?

A1 only

B2 only

CBoth 1 and 2

DNeither 1 nor 2

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Question No. 2

Which of the following is/are supply side measure/s to control inflation?
1.Transportation
2.Hoarding
3.Distribution
How many of the statements given above are correct?

AOnly one

BOnly two

COnly three

DNone

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Question No. 3

The “inflation takes place in a longer period and the range of increase is usually in single digit” is known as?

ACreeping inflation

BGalloping inflation

CHyper inflation

DStagflation

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Question No. 4

It is a very high inflation running in the range of double-digit or triple digit is known as?

ACreeping inflation

BGalloping inflation

CDeflation

DStagflation

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Question No. 5

The “inflation takes place when the supply falls drastically and the demand remains at the same level”?

ACreeping inflation

BGalloping inflation

CDeflation

DBottleneck inflation

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Question No. 6

The excess of total government spending above the national income is known as?

AInflationary gap

BDeflationary gap

CGDP deflator

DOff budget borrowings

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Question No. 7

The famous “Phillips curve” advocates a relationship between?

AInflation and growth

BGrowth and unemployment

CInflation and unemployment

DUnemployment and sustainable development

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Question No. 8

Which of the following denotes “is a situation in an economy when inflation and unemployment both are at higher levels”?

ACreeping inflation

BGalloping inflation

CHyper inflation

DStagflation

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Question No. 9

Consider the following statements regarding “GDP Deflator”:
1.It is the ratio between GDP at Current Prices and GDP at Constant Prices.
2.If GDP deflator is found to be 2, it implies a drop in price levels.
Which of the statements given above is/are correct?

A1 only

B2 only

CBoth 1 and 2

DNeither 1 nor 2

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Question No. 10

Consider the following statements:
1.An increase in inflation increases the nominal value of income, while the real value of income remains the same.
2.Inflation redistributes wealth from creditors to debtors.
Which of the statements given above is/are correct?

A1 only

B2 only

CBoth 1 and 2

DNeither 1 nor 2

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