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Economics UPSC PYQ 1998

18 questions from the UPSC 1998 examination.

18 questions

1Easyprelims2 marks
Banking & Financial Sector

The accounting year of the Reserve Bank of India is

AApril – March
BJuly – June
COctober – September
DJanuary – December
2Easyprelims2 marks
Fiscal Policy & Budget

Economic Survey in India is published officially, every year by the

AReserve Bank of India
BPlanning Commission of India
CMinistry of Finance, Government of India
DMinistry of Industries, Government of India
3Easyprelims2 marks
Infrastructure & Industry

Some time back, the Government of India decided to delicense the ‘white-goods’ industry. ‘White goods’ include

Astainless steel and aluminium utensils
Bmilk and milk products
Citems purchased for conspicuous consumption
Dsoaps, detergents and other mass-consumption goods
4Mediumprelims2 marks
External Sector & Balance Of Payments

Which one of the following is the correct sequence of decreasing order of the given currencies in terms of their value in Indian Rupees?

AUS dollar, Canadian dollar, New Zealand dollar, Hong Kong dollar
BUS dollar, New Zealand dollar, Canadian dollar, Hong Kong dollar
CUS dollar, Hong Kong dollar, New Zealand dollar, Canadian dollar
DUS dollar, Hong Kong dollar, Canadian dollar, New Zealand dollar
5Easyprelims2 marks
International Trade & WTO

The economist who was associated with the WTO draft document is

AA.K. Sen
BT.N. Srinivasan
CJ.N. Bhagwati
DAvinash Dixit
6Mediumprelims2 marks
Financial Markets & Capital Markets

Which of the following pairs are correctly matched? I. Dow Jones : New York II. Hang Seng : Seoul III. FTSE-100 : London Select the correct answer using the codes given below:

AI, II and III
BII and III
CI and II
DI and III
7Mediumprelims2 marks
Inflation & Price Indices

The current price index (base 1960) is nearly 330. This means that

Aall items cost 3.3 times more than what they did in 1960
Bthe prices of certain selected items have gone up to 3.3 times
Cweighted mean of prices of certain items has increased 3.3 times
Dgold price has gone up 3.3 times
8Easyprelims2 marks
Monetary Policy & Money Supply

The banks are required to maintain a certain ratio between their cash in hand and total assets. This is called

ASBR (Statutory Bank Ratio)
BSLR (Statutory Liquid Ratio)
CCBR (Central Bank Reserve)
DCLR (Central Liquid Reserve)
9Mediumprelims2 marks
International Institutions & Reports

According to the World Development Report, low-income economies are those for which the per capita GNP in 1994 was

AUS $ 925 or less
BUS $ 825 or less
CUS $ 725 or less
DUS $ 525 or less
10Easyprelims2 marks
National Income & Economic Growth

The supply-side economics lays greater emphasis on the point of view of the

Aproducer
Bglobal economy
Cconsumer
Dmiddle-man
11Mediumprelims2 marks
External Sector & Balance Of Payments

Consider the following statements: The price of any currency in the international market is decided by the I. World Bank II. Demand for goods/services provided by the country concerned III. Stability of the government of the concerned country IV. Economic potential of the country in question Of these statements:

AI, II, III and IV are correct
BII and III are correct
CIII and IV are correct
DI and IV are correct
12Mediumprelims2 marks
External Sector & Balance Of Payments

Capital Account Convertibility of the Indian Rupee implies

Athat the Indian Rupee can be exchanged by the authorised dealers for travel
Bthat the Indian Rupee can be exchanged for any major currency for the purpose of trade in goods and services
Cthat the Indian Rupee can be exchanged for any major currency for the purpose of trading financial assets
DNone of the above
13Easyprelims2 marks
National Income & Economic Growth

A consumer is said to be in equilibrium, if

Ahe is able to fulfil his need with a given level of income
Bhe is able to live in full comforts with a given level of income
Che can fulfil his needs without consumption of certain items
Dhe is able to locate new sources of income
14Mediumprelims2 marks
Inflation & Price Indices

The misery index is the sum of a country’s unemployment and inflation rate. The higher the index, the more miserable is the country to live in. In the figure given below is the Misery Index for various countries in Europe: Which of the following conclusions can be drawn from the misery index given above? I. Britain is the most miserable country to live in. II. The inflation rate in Spain is less than that in Belgium and Britain. III. Italy and France seem to have almost identical unemployment rate. IV. The higher the misery index, the higher the inflation rate. Select the correct answer using the codes given below:

AI alone
BII and III
CI, II, III and IV
DNone of the above
15Hardprelims2 marks
Human Development, Poverty & Employment Schemes

The number of economically active women (excluding students and those doing domestic duties in their homes) as a percentage of all women of working age (generally those aged 15-64 years) was the highest in 1996 in

AUSA
BChina
CRussia
DS. Korea
16Mediumprelims2 marks
Human Development, Poverty & Employment Schemes

Human Poverty Index was introduced in the Human Development Report of the year

A1994
B1995
C1996
D1997
17Mediumprelims2 marks
International Trade & WTO

Which one of the following regions of the world supplies the maximum of our imported commodities (in terms of rupee value)?

AAfrica
BAmerica
CAsia and Oceania
DEurope
18Mediumprelims2 marks
Agriculture & Rural Development

The table below indicates the performance of India in rice and wheat production from 1950-51 to 1995-96. Which of the following conclusions arrived at from the above table would be valid? I. Record production of rice as well as wheat has been in 1994-95. II. The ratio of wheat to rice production seems to have steadily increased over 16 years. III. Wheat has not been popular among the Indian population before 1980. IV. India became self-sufficient in rice and wheat only after 1990. Select the correct answer using the codes given below:

AI and II
BI, II, III and IV
CIII and IV
DNone of the above
Economics — All Years|All Subjects