CHSL 2024 Prelims Economics Part 2
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| Exam | CHSL (Prelims) |
| Year | 2024 |
| Subject | Economics |
| Part | 2 |
| Questions | 25 |
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Question 1 of 25
1. Question
What kind of technology is most frequently used to manage and digitise e-land records?
Correct
➤ GIS (Geographic Information System) is used to map, manage, and digitize land records with geographical accuracy.
★ Many Indian states use GIS under the Digital India Land Records Modernization Programme (DILRMP).Incorrect
➤ GIS (Geographic Information System) is used to map, manage, and digitize land records with geographical accuracy.
★ Many Indian states use GIS under the Digital India Land Records Modernization Programme (DILRMP). -
Question 2 of 25
2. Question
Which of the following statements are true?
i. The First Five-Year Plan was based on the PC Mahalanobis model.
ii. The First Five-Year Plan laid emphasis on agriculture development.
iii. The Five-Year planning model in India was borrowed from Russia.Correct
➤ The First Plan (1951–56) focused on agriculture, and India adopted planning from the Soviet model.
✘ The Mahalanobis model was adopted from the Second Five-Year Plan onwards.
★ Planning aimed at self-reliant development in line with socialist principles.Incorrect
➤ The First Plan (1951–56) focused on agriculture, and India adopted planning from the Soviet model.
✘ The Mahalanobis model was adopted from the Second Five-Year Plan onwards.
★ Planning aimed at self-reliant development in line with socialist principles. -
Question 3 of 25
3. Question
Which of the following years were considered plan holidays in Independent India?
Correct
➤ Due to the failure of the Third Plan, wars, and droughts, Annual Plans (1966–69) replaced a formal Five-Year Plan.
★ These were called Plan Holidays — short-term planning instead of long-term goals.Incorrect
➤ Due to the failure of the Third Plan, wars, and droughts, Annual Plans (1966–69) replaced a formal Five-Year Plan.
★ These were called Plan Holidays — short-term planning instead of long-term goals. -
Question 4 of 25
4. Question
Calculate personal income (in crore) from the given data.
Private income = 1800
Net retained earnings = 500
Corporation tax = 250Correct
➤ Personal Income = Private Income – Retained Earnings – Corporation Tax
→ 1800 – 500 – 250 = 1050
✘ Correction: Answer should be 1050, not 2050, so Correct answer is not matching the logic.
★ Please review source — likely a question or option error in the original key.Incorrect
➤ Personal Income = Private Income – Retained Earnings – Corporation Tax
→ 1800 – 500 – 250 = 1050
✘ Correction: Answer should be 1050, not 2050, so Correct answer is not matching the logic.
★ Please review source — likely a question or option error in the original key. -
Question 5 of 25
5. Question
Which of the following is more important to promote modernisation and overall prosperity of a country?
Correct
➤ Stable employment ensures income stability, consumption, and social welfare, which supports long-term growth.
★ Employment generation is a core goal of economic and industrial policies.Incorrect
➤ Stable employment ensures income stability, consumption, and social welfare, which supports long-term growth.
★ Employment generation is a core goal of economic and industrial policies. -
Question 6 of 25
6. Question
What is/are the objective(s) of Fiscal Policy?
1. Boost growth
2. Control inflationCorrect
➤ Fiscal Policy uses taxation and expenditure to achieve growth, inflation control, and redistribution.
★ It complements monetary policy for macroeconomic stability.Incorrect
➤ Fiscal Policy uses taxation and expenditure to achieve growth, inflation control, and redistribution.
★ It complements monetary policy for macroeconomic stability. -
Question 7 of 25
7. Question
If there is a fall in the demand of a good, the equilibrium price is expected to:
Correct
➤ When demand decreases, the price falls to maintain market equilibrium.
★ This is explained by the law of demand and supply in economics.Incorrect
➤ When demand decreases, the price falls to maintain market equilibrium.
★ This is explained by the law of demand and supply in economics. -
Question 8 of 25
8. Question
Price control and rationing are direct control measures to check _____.
Correct
➤ Price control and rationing are tools used during high inflation to keep essential commodities affordable.
★ These are non-monetary anti-inflationary policies.Incorrect
➤ Price control and rationing are tools used during high inflation to keep essential commodities affordable.
★ These are non-monetary anti-inflationary policies. -
Question 9 of 25
9. Question
Which of the following is NOT a feature of a monopoly?
Correct
➤ In a monopoly, there is one seller and many buyers with no close substitutes for the product.
★ Option C describes monopsony, not monopoly.Incorrect
➤ In a monopoly, there is one seller and many buyers with no close substitutes for the product.
★ Option C describes monopsony, not monopoly. -
Question 10 of 25
10. Question
As per the Census of India-2011, the density of population per km² was ____ persons.
Correct
➤ According to Census 2011, the population density of India was 382 persons/km².
★ It increased from 325 persons/km² in 2001, indicating growing population pressure.Incorrect
➤ According to Census 2011, the population density of India was 382 persons/km².
★ It increased from 325 persons/km² in 2001, indicating growing population pressure. -
Question 11 of 25
11. Question
_____ is defined as excess of total expenditure over total receipts excluding borrowings during a fiscal year.
Correct
➤ Fiscal Deficit = Total Expenditure – (Total Receipts – Borrowings). It represents the total borrowing requirement of the government.
★ Fiscal deficit indicates the imbalance in government finances, reflecting fiscal health.Incorrect
➤ Fiscal Deficit = Total Expenditure – (Total Receipts – Borrowings). It represents the total borrowing requirement of the government.
★ Fiscal deficit indicates the imbalance in government finances, reflecting fiscal health. -
Question 12 of 25
12. Question
The UIDAI is under the jurisdiction of which of the following ministries?
Correct
➤ UIDAI (Unique Identification Authority of India) functions under the Ministry of Electronics and Information Technology (MeitY).
★ UIDAI is responsible for issuing Aadhaar numbers to Indian residents.Incorrect
➤ UIDAI (Unique Identification Authority of India) functions under the Ministry of Electronics and Information Technology (MeitY).
★ UIDAI is responsible for issuing Aadhaar numbers to Indian residents. -
Question 13 of 25
13. Question
Which of the following is the correct formula for calculating NNP?
Correct
➤ Net National Product (NNP) is obtained by subtracting depreciation from GNP (Gross National Product).
★ NNP measures the net output available to a nation.Incorrect
➤ Net National Product (NNP) is obtained by subtracting depreciation from GNP (Gross National Product).
★ NNP measures the net output available to a nation. -
Question 14 of 25
14. Question
Which of the following measures can be adopted by the government to reduce revenue deficit?
Correct
➤ Tax reforms (like broadening the tax base and improving compliance) help increase revenue and reduce the revenue deficit.
★ A revenue deficit means the government is not earning enough to meet its routine expenses.Incorrect
➤ Tax reforms (like broadening the tax base and improving compliance) help increase revenue and reduce the revenue deficit.
★ A revenue deficit means the government is not earning enough to meet its routine expenses. -
Question 15 of 25
15. Question
Which of the following options is INCORRECT?
Correct
➤ In the First Five-Year Plan, India largely relied on domestic experts like K.N. Raj, P.C. Mahalanobis, etc.
✘ Foreign economists were not formally invited for regular advice during this period.
★ Planning Commission was indeed formed in 1950, and the PM was its ex-officio Chairperson.Incorrect
➤ In the First Five-Year Plan, India largely relied on domestic experts like K.N. Raj, P.C. Mahalanobis, etc.
✘ Foreign economists were not formally invited for regular advice during this period.
★ Planning Commission was indeed formed in 1950, and the PM was its ex-officio Chairperson. -
Question 16 of 25
16. Question
What was India’s population growth rate (in percentage) during 2001–2011?
Correct
➤ As per Census 2011, population growth during 2001–2011 was 17.64%, down from 21.54% in the previous decade.
★ This shows a declining trend in population growth rate in India.Incorrect
➤ As per Census 2011, population growth during 2001–2011 was 17.64%, down from 21.54% in the previous decade.
★ This shows a declining trend in population growth rate in India. -
Question 17 of 25
17. Question
Which of the following refers to the purchase and sale of government securities?
Correct
➤ Open Market Operations (OMO) are conducted by the RBI to manage liquidity and interest rates.
★ OMO is a major tool of monetary policy.Incorrect
➤ Open Market Operations (OMO) are conducted by the RBI to manage liquidity and interest rates.
★ OMO is a major tool of monetary policy. -
Question 18 of 25
18. Question
What is the main objective of Fiscal Responsibility and Budget Management Act (FRBMA), 2003?
Correct
➤ The FRBM Act aims to reduce fiscal deficit, improve fiscal discipline, and bring transparency in fiscal operations.
★ It mandates limits on deficit levels and requires medium-term fiscal frameworks.Incorrect
➤ The FRBM Act aims to reduce fiscal deficit, improve fiscal discipline, and bring transparency in fiscal operations.
★ It mandates limits on deficit levels and requires medium-term fiscal frameworks. -
Question 19 of 25
19. Question
National income at constant prices means:
Correct
➤ Constant prices eliminate the effect of inflation by calculating income at base year prices.
★ It helps in measuring real economic growth.Incorrect
➤ Constant prices eliminate the effect of inflation by calculating income at base year prices.
★ It helps in measuring real economic growth. -
Question 20 of 25
20. Question
According to the Census of India 2011, which of the following states is the most urbanised?
Correct
➤ As per Census 2011, Goa had the highest percentage of urban population, followed by Tamil Nadu and Kerala.
★ Urbanisation is measured by the proportion of people living in urban areas.Incorrect
➤ As per Census 2011, Goa had the highest percentage of urban population, followed by Tamil Nadu and Kerala.
★ Urbanisation is measured by the proportion of people living in urban areas. -
Question 21 of 25
21. Question
According to Census 2011, which union territory recorded the highest female literacy rate in India?
Correct
➤ As per Census 2011, Lakshadweep recorded the highest female literacy rate among Union Territories at 88.25%.
★ Literacy data helps identify gender gaps in education and regional disparities.Incorrect
➤ As per Census 2011, Lakshadweep recorded the highest female literacy rate among Union Territories at 88.25%.
★ Literacy data helps identify gender gaps in education and regional disparities. -
Question 22 of 25
22. Question
According to Census of India 2011, which district in India has the lowest literacy rate in India?
Correct
➤ Alirajpur district in Madhya Pradesh had the lowest literacy rate in India at 36.1% according to Census 2011.
★ Low literacy is linked to tribal concentration, poverty, and lack of access to education.Incorrect
➤ Alirajpur district in Madhya Pradesh had the lowest literacy rate in India at 36.1% according to Census 2011.
★ Low literacy is linked to tribal concentration, poverty, and lack of access to education. -
Question 23 of 25
23. Question
Which group of states was concentrated in the cotton production in the early years to develop textile industry?
Correct
➤ Maharashtra and Gujarat were the early hubs of the cotton textile industry, especially cities like Mumbai and Ahmedabad.
★ These states had ideal climate, raw material availability, and port access.Incorrect
➤ Maharashtra and Gujarat were the early hubs of the cotton textile industry, especially cities like Mumbai and Ahmedabad.
★ These states had ideal climate, raw material availability, and port access. -
Question 24 of 25
24. Question
The Reserve Bank of India was fully nationalised and owned by the Government of India in which of the following years?
Correct
➤ Though RBI was established in 1935, it was nationalised in 1949 through the RBI (Transfer to Public Ownership) Act, 1948.
★ RBI became a wholly government-owned institution from January 1, 1949.Incorrect
➤ Though RBI was established in 1935, it was nationalised in 1949 through the RBI (Transfer to Public Ownership) Act, 1948.
★ RBI became a wholly government-owned institution from January 1, 1949. -
Question 25 of 25
25. Question
How many censuses had been completed in India as of year 2011?
Correct
➤ The 15th Census was completed in 2011. The first Census of India was held in 1872, and the first synchronous Census was in 1881.
★ Census is conducted every 10 years, but the 2021 Census was delayed.Incorrect
➤ The 15th Census was completed in 2011. The first Census of India was held in 1872, and the first synchronous Census was in 1881.
★ Census is conducted every 10 years, but the 2021 Census was delayed.