May 17, 2021 - Daily Quiz
1. Consider the following statements:
- 36% of India's districts are classified as "overexploited" or "critical" by the Central Ground Water Authority (CGWA).
- CGWA was formed under the Environment (Protection) Act.
- India has the largest area under groundwater irrigation in the world.
Which of the statements given above is/are correct?
(a) 1 only
(b) 2 and 3 only
(c) 2 only
(d) 1 and 3 only
2. Consider the following liquid assets:
1.Demand deposits with the banks
2.Time deposits with the banks
3.Savings deposits with the banks
4.Currency
The correct sequence of these decreasing order of Liquidity is
(a) 1-4-3-2
(b) 4-3-2-1
(c) 2-3-1-4
(d) 4-1-3-2
3. Which of the following grants/ grant direct credit assistance to rural households?
1. Regional Rural Banks
2. National Bank for Agriculture and Rural Development
3. Land Development Banks
Select the correct answer using the codes given below:
(a) 1 and 2 only
(b) 2 only
(c) 1 and 3 only
(d) 1, 2 and 3
4. Consider the following phenomena:
1. Size of the sun at dusk
2. Colour of the sun at dawn
3. Moon being visible at dawn
4. Twinkle of stars in the sky
5. Polestar being visible in the sky.
Which of the above are optical illusions?
(a) 1, 2 and 3
(b) 3, 4 and 5
(c) 1, 2 and 4
(d) 2, 3 and 5
5. A rise in general level of prices may be caused by
1. an increase in the money supply
2. a decrease in the aggregate level of output
3. an increase in the effective demand
Select the correct answer using the codes given below.
(a) 1 only
(b) 1 and 2 only
(c) 2 and 3 only
(d) 1, 2 and 3
Answers
1 – (b) More than 50% of India's districts are classified as "overexploited" or "critical" by the Central Ground Water Authority (CGWA). Statement 1 is incorrect.
The Central Ground Water Authority is under Section 3 of the Environment Protection Act, 1986. Statement 2 is correct.
India has the world’s largest groundwater well-equipped irrigation system. Statement 3 is correct.
2 – (d) A situation in which available work tasks are split among resources (typically labour) such that they seem fully employed but in reality much of their time is spent in unproductive activities is called disguised unemployment. Here the marginal productivity of labour comes to zero. When aggregate demand for goods and services in the economy falls far below its capacity, a large chunk of labour force gets employed. This is known as cyclical unemployment. While structural unemployment means the change in the demand pattern for goods necessitates change in the demand pattern for labour. But labour force cannot immediately metamorphose, matching the change in demand pattern. Due to these conditions a state of unemployment occurs that is known as structural unemployment.
3 – (a)
4 – (c)
5 – (d)
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