CHSL 2024 Prelims Economics Part 5
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| Exam | CHSL (Prelims) |
| Year | 2024 |
| Subject | Economics |
| Part | 5 |
| Questions | 14 |
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Question 1 of 14
1. Question
As per the Economic Survey 2022-23, the Labour Force Participation Rate for males has gone up to ____ in 2020-21.
Correct
➤ The Labour Force Participation Rate (LFPR) for males rose to 57.5% as per the Economic Survey 2022-23, reflecting gradual recovery post-COVID impact.
★ LFPR indicates the percentage of working-age population that is either working or seeking work.Incorrect
➤ The Labour Force Participation Rate (LFPR) for males rose to 57.5% as per the Economic Survey 2022-23, reflecting gradual recovery post-COVID impact.
★ LFPR indicates the percentage of working-age population that is either working or seeking work. -
Question 2 of 14
2. Question
In 1955, _____ noted the possibility of using small-scale industries for promoting rural development.
Correct
➤ The Karve Committee (1955) emphasized the potential of small-scale industries in fostering rural development and employment.
★ This led to policy support for village industries under Five-Year Plans.Incorrect
➤ The Karve Committee (1955) emphasized the potential of small-scale industries in fostering rural development and employment.
★ This led to policy support for village industries under Five-Year Plans. -
Question 3 of 14
3. Question
Which of the following statements is/are true with respect to MRTP Act?
i. The Monopolies and Restrictive Trade Practices Act (MRTP Act) was repealed and replaced by the Competition Act, 2002.
ii. The asset limit for MRTP companies was fixed at Rs. 25 crores by the first/original Monopolies and Restrictive Trade Practices Act (MRTP Act).
iii. The Monopolies and Restrictive Trade Practices Act (MRTP Act) was first passed in 1969.Correct
➤ The MRTP Act was enacted in 1969 and later replaced by the Competition Act, 2002. the asset limit was revised later.
★ The MRTP Act aimed at curbing monopolistic practices in India.Incorrect
➤ The MRTP Act was enacted in 1969 and later replaced by the Competition Act, 2002. the asset limit was revised later.
★ The MRTP Act aimed at curbing monopolistic practices in India. -
Question 4 of 14
4. Question
As per the Census-2011, the total absolute increase in population during the decade is _____.
Correct
➤ According to Census 2011, India’s population increased by 18.19 crore compared to Census 2001.
★ It was one of the largest decadal increases in the world.Incorrect
➤ According to Census 2011, India’s population increased by 18.19 crore compared to Census 2001.
★ It was one of the largest decadal increases in the world. -
Question 5 of 14
5. Question
Which of the following is NOT a characteristic of the National Investment and Manufacturing Zones (NIMZs) of India?
Correct
➤ The minimum area prescribed for NIMZs is 5000 hectares, not 10,000. All other statements are valid.
★ NIMZs are developed to boost manufacturing and employment under the National Manufacturing Policy.Incorrect
➤ The minimum area prescribed for NIMZs is 5000 hectares, not 10,000. All other statements are valid.
★ NIMZs are developed to boost manufacturing and employment under the National Manufacturing Policy. -
Question 6 of 14
6. Question
The Industrial Policy Resolution, 1948 mainly categorised the large-scale industries into ____ fragments.
Correct
➤ The Industrial Policy Resolution of 1948 classified industries into four categories: exclusive government monopoly, progressively state-owned, private with state regulation, and private industries.
★ This marked the beginning of planned industrial development in India.Incorrect
➤ The Industrial Policy Resolution of 1948 classified industries into four categories: exclusive government monopoly, progressively state-owned, private with state regulation, and private industries.
★ This marked the beginning of planned industrial development in India. -
Question 7 of 14
7. Question
Which of the following committees was associated with Industrial Licensing Policy Inquiry?
Correct
➤ The Dutt Committee (1969) examined the Industrial Licensing Policy and its impact on monopoly and concentration of economic power.
★ It influenced the MRTP Act and further industrial regulations.Incorrect
➤ The Dutt Committee (1969) examined the Industrial Licensing Policy and its impact on monopoly and concentration of economic power.
★ It influenced the MRTP Act and further industrial regulations. -
Question 8 of 14
8. Question
What is the impact of proportional taxes?
Correct
➤ Proportional taxes reduce disposable income, thereby lowering the multiplier effect of autonomous spending on national income.
★ This limits the total increase in output from fiscal expansion.Incorrect
➤ Proportional taxes reduce disposable income, thereby lowering the multiplier effect of autonomous spending on national income.
★ This limits the total increase in output from fiscal expansion. -
Question 9 of 14
9. Question
Aajeevika – National Rural Livelihoods Mission (NRLM) – was launched by the Ministry of Rural Development (MoRD), Government of India, in the year ______.
Correct
➤ Aajeevika-NRLM was launched in 2011 to reduce rural poverty by promoting self-employment and SHGs.
★ It aims to empower women and marginalized groups through sustainable livelihood programs.Incorrect
➤ Aajeevika-NRLM was launched in 2011 to reduce rural poverty by promoting self-employment and SHGs.
★ It aims to empower women and marginalized groups through sustainable livelihood programs. -
Question 10 of 14
10. Question
Which of the following is issued by commercial banks at a discount on face value?
Correct
➤ Certificates of Deposits (CDs) are negotiable money market instruments issued by commercial banks at a discount to face value and have a fixed maturity.
★ They are used to manage short-term liquidity needs and are issued to individuals, companies, and trusts.Incorrect
➤ Certificates of Deposits (CDs) are negotiable money market instruments issued by commercial banks at a discount to face value and have a fixed maturity.
★ They are used to manage short-term liquidity needs and are issued to individuals, companies, and trusts. -
Question 11 of 14
11. Question
In cost theory, the usual shape of the _____ curve is a rectangular hyperbola.
Correct
➤ The Average Fixed Cost (AFC) curve is a rectangular hyperbola because as output increases, AFC declines continuously, but never touches zero.
★ AFC = TFC/Q and decreases as Q increases, showing the spreading effect of fixed costs.Incorrect
➤ The Average Fixed Cost (AFC) curve is a rectangular hyperbola because as output increases, AFC declines continuously, but never touches zero.
★ AFC = TFC/Q and decreases as Q increases, showing the spreading effect of fixed costs. -
Question 12 of 14
12. Question
According to Ministry of Agriculture and Farmers Welfare, what was the total food grain production of India in the year 2022-23?
Correct
➤ India achieved a record total food grain production of 3296.87 lakh tonnes in 2022–23, as reported by the Ministry of Agriculture and Farmers Welfare.
★ This increase was due to favorable monsoon, government support, and improved agricultural practices.Incorrect
➤ India achieved a record total food grain production of 3296.87 lakh tonnes in 2022–23, as reported by the Ministry of Agriculture and Farmers Welfare.
★ This increase was due to favorable monsoon, government support, and improved agricultural practices. -
Question 13 of 14
13. Question
Rotating Savings and Credit Association (ROSCA) was introduced by Shirley Ardener in the year _____.
Correct
➤ Shirley Ardener introduced the concept of ROSCA in 1964, highlighting traditional group savings systems where members contribute and withdraw funds in rotation.
★ ROSCAs are informal financial institutions prevalent in many developing countries for saving and credit.Incorrect
➤ Shirley Ardener introduced the concept of ROSCA in 1964, highlighting traditional group savings systems where members contribute and withdraw funds in rotation.
★ ROSCAs are informal financial institutions prevalent in many developing countries for saving and credit. -
Question 14 of 14
14. Question
The country’s infrastructure vision for FY-2025 and the first exercise to be conducted in India is named as ______.
Correct
➤ The National Infrastructure Pipeline (NIP) aims to provide world-class infrastructure and boost the economy by FY-2025.
★ It includes over 7,000 projects with public and private investment across sectors.Incorrect
➤ The National Infrastructure Pipeline (NIP) aims to provide world-class infrastructure and boost the economy by FY-2025.
★ It includes over 7,000 projects with public and private investment across sectors.