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Question 1 of 5
1. Question
2 points1. Hand gestures (hasta mudras) is used in coins of denomination of rupees 1 and 2 of Government of India are from which of the following dance forms?
Correct
Answer: C
Explanation:
• One of the most striking aspects of an Indian Classical Dance is the use of hand gestures, also known as Hasta Mudra. Bharatanatyam Hasta Mudras Depicted on Coins are Mushti (fist) hasta mudra for the denomination of 50 paise, Shikhara (mountain peak) for the denomination of Rupee 1, and KartariMukha (two fingers) for the denomination of Rupees 2.
Incorrect
Answer: C
Explanation:
• One of the most striking aspects of an Indian Classical Dance is the use of hand gestures, also known as Hasta Mudra. Bharatanatyam Hasta Mudras Depicted on Coins are Mushti (fist) hasta mudra for the denomination of 50 paise, Shikhara (mountain peak) for the denomination of Rupee 1, and KartariMukha (two fingers) for the denomination of Rupees 2.
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Question 2 of 5
2. Question
2 points2. Which of the following factors lead to the development of the service sector in an economy?
1. Development of agriculture and industry
2. Rise in income
3. New technologies
Select the correct answer using the code given below:Correct
Answer: D
Explanation:
● Statement 1 is correct: The development of agriculture and industry leads to the development of services such as transport, trade, storage. Greater the development of the primary and secondary sectors more would be the demand for such services.
● Statement 2 is correct: As income levels rise, certain sections of people start demanding more services which leads to the growth of various services such as tourism, professional training, restaurants, etc.
● Statement 3 is correct: Over the past decade or so, certain new services such as those based on information and communication technology have become important and essential. The production of these services has been rising rapidly and has contributed in the development of the service sec to in an economy.Incorrect
Answer: D
Explanation:
● Statement 1 is correct: The development of agriculture and industry leads to the development of services such as transport, trade, storage. Greater the development of the primary and secondary sectors more would be the demand for such services.
● Statement 2 is correct: As income levels rise, certain sections of people start demanding more services which leads to the growth of various services such as tourism, professional training, restaurants, etc.
● Statement 3 is correct: Over the past decade or so, certain new services such as those based on information and communication technology have become important and essential. The production of these services has been rising rapidly and has contributed in the development of the service sec to in an economy. -
Question 3 of 5
3. Question
2 points3. Which of the following are included under capital expenditure of the government?
1. Loan repayments to world bank
2. Interest payments on external loans from IMF
3. Equipment purchases for defense forces from Russia.
4. Law and order expenditures of CAPFs
5. Loan provided to Sri Lanka
Select the correct answer using the code given below:Correct
Answer: D
Explanation:
● Statement 1 is correct and Statement 2 is incorrect: All the areas which get capital from the government are part of the capital expenditure. It is the money spent by the government on the development of machinery, equipment, building, health facilities, education, etc. It also includes the expenditure incurred on acquiring fixed assets like land and investment by the government that gives profits or dividends in future.
⮚ Loan Repayments by the Government comes under Capital expenditure. This consists of only the capital part of the loan repayment as the element of interest on loans is shown as a part of the revenue expenditure.
● Statement 3 is correct: Capital Expenditures on Defense by the Government consist of all kinds of capital expenses to maintain the defense forces, the equipment purchased for them as well as the modernization expenditures. It should be kept in mind that defense is a non-plan expenditure that has capital as well as revenue expenditures in its maintenance.
● Statement 4 is incorrect: The revenue part of expenditure in the defense is counted in the revenue expenditures by the government. Law and order expenditures like Police and Paramilitary expenditure are a type of revenue expenditure.
● Statement 5 is correct: The loans forwarded by the government are capital expenditures. They might be internal (i.e., to the states, UTs, PSUs, FIs, etc.) or external (i.e., to foreign countries, foreign banks, purchase of foreign bonds, loans to IMF and WB, etc.).Incorrect
Answer: D
Explanation:
● Statement 1 is correct and Statement 2 is incorrect: All the areas which get capital from the government are part of the capital expenditure. It is the money spent by the government on the development of machinery, equipment, building, health facilities, education, etc. It also includes the expenditure incurred on acquiring fixed assets like land and investment by the government that gives profits or dividends in future.
⮚ Loan Repayments by the Government comes under Capital expenditure. This consists of only the capital part of the loan repayment as the element of interest on loans is shown as a part of the revenue expenditure.
● Statement 3 is correct: Capital Expenditures on Defense by the Government consist of all kinds of capital expenses to maintain the defense forces, the equipment purchased for them as well as the modernization expenditures. It should be kept in mind that defense is a non-plan expenditure that has capital as well as revenue expenditures in its maintenance.
● Statement 4 is incorrect: The revenue part of expenditure in the defense is counted in the revenue expenditures by the government. Law and order expenditures like Police and Paramilitary expenditure are a type of revenue expenditure.
● Statement 5 is correct: The loans forwarded by the government are capital expenditures. They might be internal (i.e., to the states, UTs, PSUs, FIs, etc.) or external (i.e., to foreign countries, foreign banks, purchase of foreign bonds, loans to IMF and WB, etc.). -
Question 4 of 5
4. Question
2 points4. Harmonized System is related to which of the following organisations?
Correct
Answer: C
Explanation:
⮚ The Harmonized Commodity Description and Coding System generally referred to as “Harmonized System” or simply “HS” is a multipurpose international product nomenclature developed by the World Customs Organization (WCO). Hence option C is correct.Incorrect
Answer: C
Explanation:
⮚ The Harmonized Commodity Description and Coding System generally referred to as “Harmonized System” or simply “HS” is a multipurpose international product nomenclature developed by the World Customs Organization (WCO). Hence option C is correct. -
Question 5 of 5
5. Question
2 points5. Consider the following statements with respect to the Asia-Pacific Trade Agreement (APTA):
1. It was previously known as the Bangkok Agreement.
2. India is not a member of APTA
Which of the statements given above are correct?Correct
Answer: A
Explanation:
● Statement 1 is correct: The Asia-Pacific Trade Agreement (APTA), previously named as the Bangkok Agreement, was signed in 1975 as an initiative of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP).
● Statement 2 is incorrect: Its members include Bangladesh, China, India, the Republic of Korea, Mongolia, Lao PDR and Sri Lanka.Incorrect
Answer: A
Explanation:
● Statement 1 is correct: The Asia-Pacific Trade Agreement (APTA), previously named as the Bangkok Agreement, was signed in 1975 as an initiative of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP).
● Statement 2 is incorrect: Its members include Bangladesh, China, India, the Republic of Korea, Mongolia, Lao PDR and Sri Lanka.
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