Welcome to Dhyeya IAS Best Coaching for UPSC, IAS,Civil Services, State PSC/PCS Exam

Daily-static-mcqs 30 May 2024

Daily Static MCQs for UPSC & State PSC Exams - Economics 30 May 2024

Daily Static MCQs for UPSC & State PSC Exams - Economics

Q1:

Consider the following pairs:

1. Brown Lebel ATM

They run in the name of a bank.

2. Green Lebel ATM

It is used for the purpose of agriculture.

3. Pink Lebel ATM

Only

How many of the above pairs are correctly matched?

A: Only one pair

B: Only two pairs

C: All three pairs

D: None of the pairs

Show

Answer: B

Explanation:

Brown Lebel ATM: Hardware and ATM lease is owned by the service provider and bank cash management.

White- Lebel ATMs: This non-banking are established and operated by the financial company (NBFC).

Green Lebel ATMs: These are usually used for agriculture. ATMs run by biometric impressions are also called green-lebel ATMs.

Pink Lebel ATM: Only women can use it.

Yellow Lebel ATMs: They are used for e-commerce transactions.

Orange Lebel ATM: They are used for the purpose of buying and selling shares.

Q2:

Consider the following pairs:

(Schemes)

(Implementation Period)

1. Digital India Mission

July 1, 2015

2. Bharat Mala Project

July 31, 2015

3. Samagra Shiksha Abhiyan

May 24, 2018

How many of the above pairs are correctly matched?

A: Only one pair

B: Only two pairs

C: All three pairs

D: None of the pairs

Show

Answer: C

Explanation:

The implementation years for various plans are as follows: Digital India Mission - July 1, 2015; Prime Minister Ujjwala Yojana - May 1, 2016; Namami Gange Mission - June 2014; Bharat Mala Project - July 31, 2015; Samagra Shiksha Abhiyan - May 24, 2018. Hence, option (c) is correct.

Q3:

Where are the printing presses set up in India to print currency notes?

1. Dewas

2. Nashik

3. Mysore

4. Salpuni

How many of the statements given above are correct?

A: Only one

B: Only two

C: Only three

D: All four

Show

Answer: D

Explanation:

There are a total of four printing presses in India, where notes are printed - Dewas (Madhya Pradesh), Nashik (Maharashtra), Salbuni (Calcutta-West Bengal) and Mysore (Karnataka).

Out of the above four, two (Nashik and Dewas) are under the control of the Government of India, while the other two (Salpuni and Mysore) are under the control of RBI. Hence, option (d) is correct.

Q4:

Consider the following statements regarding Islamic Bank:

1. Islamic banks neither charge nor give interest.

2. The first Islamic bank in India was established in Gujarat.

Which of the statements given above is/are correct?

A: 1 only

B: 2 only

C: Both 1 and 2

D: Neither 1 nor 2

Show

Answer: A

Explanation:

The origins of Islamic banking can be traced to Mit Gammar (Egypt), where a bank—Nasir Social Bank—was founded in 1963 by Ahmed Al Najjar. This bank followed the principles of Islamic banking, i.e. profit sharing and non-interest-based banking. In 1974, the Organization of Islamic Countries (OIC) established the first Islamic bank called the Islamic Development Bank or IDB. Shia laws or Islamic laws of banking are followed under Islamic banking (IB). It is also called Sharia banking or interest-free banking. Hence, statement 1 is correct.

The Islamic Development Bank (IDB) announced the opening of its first branch in India in Ahmedabad, Gujarat in May 2016. But in November 2017, the Reserve Bank of India (RBI) decided not to pursue Islamic banking in India after considering the equal opportunities available to all citizens to access banking and financial services. Hence, statement 2 is incorrect.

Q5:

What is meant by 'Dumping' as used in international trade?

A: Importing goods due to the high cost of production in the country.

B: Exporting the goods produced in the country to other countries at expensive prices.

C: Fraudulent consumption of inferior goods produced in the country in international trade.

D: Exporting the goods produced in the country at a price less than the cost of production.

Show

Answer: D

Explanation:

When a commodity is exported by the exporting country at a price less than the price prevailing in the domestic market, it is called "dumping". Under dumping, the value of exported goods is less than the local production cost of the exporting country. Hence, option (d) is correct.