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This section includes 7 InterviewSolutions, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Banking Ombudsman Scheme is applicable to the business of A. All scheduled commercial bank excluding RRBsB. All scheduled commercial banks excluding RRBsC. Only Public Sector BanksD. All Banking CompaniesE. All scheduled banks except private banks |
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Answer» Banking Ombudsman Scheme is applicable to the business of all Banking Companies. |
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| 2. |
Mention any two factors that affect price of elasticity of demand. |
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Answer» (i) Nature of commodity. (ii) Close substitute. |
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| 3. |
Which one is the item of Capital Account ? (A) Government Transactions (B) Private Transations (C) Foreign Direct Investment (D) All of above |
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Answer» (C) Foreign Direct Investment |
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| 4. |
Write any two problems of an Economy. |
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Answer» (i) What to produce. (ii) How to produce. |
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| 5. |
In the situation of deflationary gap: a. Demand increases rapidly b. Supply increases rapidly c. Both demand and Supply are equal d. None of the above |
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Answer» d. None of the above |
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| 6. |
Direct tax is :(A) Income Tax (B) Gift Tax (C) Both (a) & (b) (D) None of the above |
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Answer» (C) Both (a) & (b) |
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| 7. |
Tax revenue of the government includes :(A) Income Tax (B) Corporate Tax (C) Excise Duty (D) None of the above |
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Answer» (D) None of the above |
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| 8. |
Choose the correct combination for the compound word light show. (a) Noun + Verb (b) Verb + Noun (c) Noun- + Gerund (d) Preposition + Noun |
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Answer» (a) Noun + Verb |
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| 9. |
The ratio of a bank’s cash holdings to its total deposit liabilities is called (a) Variable Reserve Ratio (b) Cash Reserve Ratio (c) Statutory Liquidity Ratio (d) Minimum Reserve Ratio |
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Answer» The ratio of a bank’s cash holdings to its total deposit liabilities is called Cash Reserve Ratio. |
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| 10. |
In an economy C= 200 + 0.5 Y is the consumption function where C is the consumption expenditure and Y is the national income. Investment expenditure is Rs 400 crores.Is the economy in equilibrium at an income level Rs 1500 crores? Justify your answer |
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Answer» Given , Consumption function(C)=200+0.5Y, Investment(I)=400, Level of income (Y)=1500 At Equilibrium level → AD = AS Y = C+I thus, Y = (200 + 0.5Y) + 400 Y – 0.5 Y = 600 Y = 600/0.5 = Rs 1200 crores. The equilibrium level of income = Rs 1200 crores. The given income (Rs 1500 crores) is greater than equilibrium level of income (Rs 1200 crores). Therefore, the economy is not in equilibrium. |
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| 11. |
Makalu was unexplored. (a) expelled (b) explained (c) explored (d) expedited |
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Answer» Correct Answer is: (c) explored |
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| 12. |
Which amidst the following is not a credit rating agency? (a) CRISIL (b) CARE (c) ICRA (d) IFCI |
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Answer» IFCI is not a credit rating agency. |
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| 13. |
Define: i) Ex-Ante Savings ii) Full Employment |
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Answer» i) Ex-ante savings - Ex ante savings refers to the planned savings of an economy at different levels of income. ii) Full employment – It refers to a situation, where all the willing and capable resources get a gainful job at prevailing wage rate. It is a situation where there is no involuntary unemployment. |
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| 14. |
Which unit of valuation is known as “Paper gold”? (a) Eurodollar (b) Petrodollar (c) SDR (d) GDR |
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Answer» SDR unit of valuation is known as “Paper gold”. |
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| 15. |
The advent of brain-machine interfaces is certain to blur the boundary between humans and machines. (a) departure (b) danger (c) drawback (d) dispute |
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Answer» Correct Answer is: (d) dispute |
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| 16. |
The opposite of horizontal is ______ |
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Answer» Correct option is vertical |
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| 17. |
Which one of the following taxes is collected and utilized by the State Governments? (a) Personal income tax (b) Corporation tax (c) Land revenue (d) Custom duties |
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Answer» Land revenue taxes is collected and utilized by the State Governments. |
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| 18. |
Someone who for various reasons doesn’t eat any animal products at all is a ______ |
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Answer» Correct option is vegetarian |
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| 19. |
The trolley was commandeered by the two boys. (a) snatched (b) abandoned (c) usurped (d) hijacked |
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Answer» (b) abandoned |
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| 20. |
The basic concept used in Keynes Theory of Employment and Income is………. (a) Aggregate demand (b) Aggregate supply (c) Effective demand (d) Marginal Propensity Consume |
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Answer» (c) Effective demand |
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| 21. |
When marginal utility is zero, the total utility is (a) Minimum (b) Increasing (c) Maximum (d) Decreasing |
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Answer» When marginal utility is zero, the total utility is Maximum. |
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| 22. |
Equilibrium price means – (a) Price determined by demand and supply (b) Price determined by Cost and Profit (c) Price determined by Cost of production (d) Price determined to maximize profit |
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Answer» Equilibrium price means Price determined by demand and supply |
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| 23. |
They were doing brisk business in the public square. (a) dull (b) indolent (c) lethargic (d) active |
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Answer» Correct Answer is: (d) active |
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| 24. |
What “V word” is created when all the air has been pumped out? |
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Answer» Correct option is vacuum |
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| 25. |
The “reaction” force does not cancel the “action” force because: A. the action force is greater than the reaction force B. they are on different bodies C. they are in the same direction D. the reaction force exists only after the action force is removed E. the reaction force is greater than the action force |
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Answer» B. they are on different bodies |
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| 26. |
The opposite of rural and meaning of the town is ______ |
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Answer» Correct option is village |
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| 27. |
Little dangling baskets under the spout to catch the stray leaves. (a) loose (b) gathered (c) harmful (d) fresh |
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Answer» Correct Answer is: (a) loose |
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| 28. |
……. is also known as Disposable Personal Income. (a) Personal Income (b) Disposable Income (c) Consumer Income (d) Product Income |
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Answer» (b) Disposable Income |
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| 29. |
A holiday is also called a ______ |
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Answer» Correct option is vacation |
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| 30. |
Assertion (A): National Income is a measure of the total value of the goods and services produced in an economy for a year. Reason (R): GNP – is the total value of output produced and income received in a year by domestic residence of a country. (a) Both ‘A’ and ‘R’ are true and ‘R’ is the correct explanation to ‘A’ (b) Both ‘A’ and ‘R’ are true but ‘R’ is not the correct explanation to ‘A’(c) ‘A’ is true but ‘R’ is false (d) ‘A’ is false but ‘R’ is true |
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Answer» (a) Both ‘A’ and ‘R’ are true and ‘R’ is the correct explanation to ‘A’ |
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| 31. |
You stand on a spring scale on the floor of an elevator. Of the following, the scale shows the highest reading when the elevator: A. moves downward with increasing speed B. moves downward with decreasing speed C. remains stationary D. moves upward with decreasing speed E. moves upward at constant speed |
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Answer» B. moves downward with decreasing speed |
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| 32. |
At the start of the meeting everybody was very quiet and reserved but he told a few jokes to ______. A) across the board B) break the ice C) broke the news D) back to the drawing board E) take on board |
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Answer» Correct option is B) break the ice |
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| 33. |
We’re going to have to reduce budgets in every single department. There will be ______ cuts. A) back to the drawing board B) brief C) on to a good thing D) brainstorm E) across the board |
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Answer» Correct option is E) across the board |
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| 34. |
He’s not very quick on the uptake, it takes him quite a while to ______ new ideas. A) on to a good thing B) take on board C) bullish D) breathing down E) brief |
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Answer» Correct option is B) take on board |
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| 35. |
To meet someone unexpectedly is the same as to ______ into someone.A) bump B) get C) check |
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Answer» Correct option is A) bump |
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| 36. |
State whether the statements are true or false. (i) Profit Motive of Capitalist Economy. (ii) Basic problems are solved by customs and traditions. (a) Both (i) and (ii) are true (b) Both (i) and (ii) are false (c) (i) is true but (ii) is false (d) (i) is false but (ii) is true |
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Answer» (c) (i) is true but (ii) is false |
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| 37. |
You stand on a spring scale on the floor of an elevator. Of the following, the scale shows the highest reading when the elevator: A. moves upward with increasing speed B. moves upward with decreasing speed C. remains stationary D. moves downward with increasing speed E. moves downward at constant speed |
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Answer» A. moves upward with increasing speed |
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| 38. |
Rajan, son of a humble soldier of the Indian army, did not have the resources to prepare for a medical entrance exam, but decided to launch a venture that would help others achieve their dreams. His startup, launched in July 2020 with zero investment, has clocked a turnover of Rs 35 lakh in just 10 months and he has achieved it all as a one-man army. The start up prepares Group C employees of the Department of Post for the Limited Departmental Competitive Exams (LDCE) that qualifies them for their next promotion in the department. He realised that there was no training centre or coaching class for the aspirants so he marketed his classes for this specific group. Which step is involved in this marketing plan? a. Identify the target market b. Conduct SWOT analysis c. Establish goals d. Define marketing strategy |
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Answer» a. Identify the target market |
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| 39. |
Macro economics is a study of ………… (a) Individuals(b) firms (c) nations (d) aggregates |
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Answer» (d) aggregates |
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| 40. |
A circus performer of weight W is walking along a “high wire” as shown. The tension in the wire:A. is approximately W B. is approximately W/2 C. is much less than W D. is much more than W E. depends on whether he stands on one foot or two feet |
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Answer» D. is much more than W |
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| 41. |
The mass and weight of a body: A. differ by a factor of 9.8 B. are identical C. are the same physical quantities expressed in different units D. are both a direct measure of the inertia of the body E. have the same ratio as that of any other body placed at that location |
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Answer» E. have the same ratio as that of any other body placed at that location |
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| 42. |
To be a soldier, you join the ______. A) force B) army C) group D) government |
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Answer» Correct option is B) army |
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| 43. |
The mass of a body: A. is slightly different at different places on Earth B. is a vector C. is independent of the free-fall acceleration D. is the same for all bodies of the same volume E. can be measured most accurately on a spring scale |
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Answer» C. is independent of the free-fall acceleration |
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| 44. |
What are the functions of NITI Aayog? |
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Answer» Functions of NITI Aayog: 1. Cooperative and Competitive Federalism: To enable the States to have active participation in the formulation of national policy. 2. Shared National Agenda: To evolve a shared vision of national development priorities and strategies with the active involvement of States. 3. Decentralized Planning: To restructure the planning process into a bottom-up model. 4. Vision and Scenario Planning: To design medium and long-term strategic frameworks towards India’s future. 5. Network of Expertise: To mainstream external ideas and expertise into government policies and programmes through a collective participation. 6. Harmonization: To facilitate harmonization of actions across different layers of government, especially when involving cross-cutting and overlapping issues across multiple sectors; thro communication, coordination, collaboration and convergence amongst all the stakeholders. 7. Conflict Resolution: To provide platform for mutual consensus to inter-sectoral, inter¬departmental, inter-state as well as centre-state issues for all speedy execution of the government programmes. 8. Coordinating Interface with the World: It will act nodal point to harness global expertise and resources coming from International organizations for India’s developmental process. 9. Internal Consultancy: It provides internal consultancy to Central and State governments on policy and programmes. 10. Capacity Building: It enables to provide capacity building and technology up-gradation across government, benchmarking with latest global trends and providing managerial and technical know-how. 11. Monitoring and Evaluation: It will monitor the implementation of policies and progammes and evaluate the impacts. |
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| 45. |
Identify the correct pair of formula from the following column I and II:Cloumn IColumn IIACurrent Account Surplusi.Receipts < PaymentsBCurrent Account Surplusii.Receipts > PaymentsCBalance Current Accountiii.Receipts ≠ PaymentsDCurrent Account Deficitiv.Receipts ≤ Paymentsa) A - i b) B - ii c) C - iii d) D - iv |
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Answer» Answer is: b) B - ii |
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| 46. |
The inertia of a body tends to cause the body to: A. speed up B. slow down C. resist any change in its motion D. fall toward Earth E. decelerate due to friction |
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Answer» C. resist any change in its motion |
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| 47. |
Mass differs from weight in that: A. all objects have weight but some lack mass B. weight is a force and mass is not C. the mass of an object is always more than its weight D. mass can be expressed only in the metric system E. there is no difference |
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Answer» B. weight is a force and mass is not |
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| 48. |
What are the main components of basic social infrastructure of an economy? (a) Education, Industry and Agriculture (b) Education, Health and Civil amenities (c) Transport, Health and Banks (d) Industry, Trade and Transport |
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Answer» (b) Education, Health and Civil amenities |
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| 49. |
Expansion of NITI Aayog? (a) National Institute to Transform India(b) National Institute for Transforming India (c) National Institution to Transform India(d) National Institution for Transforming India |
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Answer» (d) National Institution for Transforming India |
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| 50. |
Explain the Expenditure Method (Outlay Method) precautions. Precautions |
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Answer» 1. Second hand goods: The expenditure made on second hand goods should not be included. 2. Purchase of shares and bonds: Expenditures on purchase of old shares and bonds in the secondary market should not be included. 3. Transfer payments: Expenditures towards payment incurred by the government like old age pension should not be included. 4. Expenditure on intermediate goods: Expenditure on seeds and fertilizers by farmers, cotton and yam by textile industries are not to be included to avoid double counting. That is only expenditure on final products are to be included. |
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