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Question 1 of 5
1. Question
2 points
1. Consider the following statements about core inflation:
a. Core inflation includes inflation contributed by food and energy commodities.
b. RBI targets headline inflation.
c. Headline inflation does not include the inflation contributed by food and energy commodities.
d. Whenever core inflation rises, Central Banks increase their key policy rates to suck excess liquidity from the market and vice versa.
How many of the statements given above are correct?
Correct
The answer is a.
Statements 1,2 and 3 are wrong. Statement 4 is correct.
Statement 1: Core inflation does not include inflation from food and energy commodities. Headline inflation minus the inflation contributed by food and energy commodities is called core inflation.
Statement 2: RBI targets core inflation.
Statement 3: Headline inflation includes the inflation contributed by food and energy commodities.
Statement 4:Whenever core inflation rises, Central Banks increase their key policy rates to suck excess liquidity from the market and vice versa.
Additional Information:
Core Inflation is also known as underlying inflation, is a measure of inflation which excludes items that face volatile price movement, notably food and energy. Since food and energy prices are highly volatile, headline inflation may not give an accurate picture of how an economy is behaving.
Incorrect
The answer is a.
Statements 1,2 and 3 are wrong. Statement 4 is correct.
Statement 1: Core inflation does not include inflation from food and energy commodities. Headline inflation minus the inflation contributed by food and energy commodities is called core inflation.
Statement 2: RBI targets core inflation.
Statement 3: Headline inflation includes the inflation contributed by food and energy commodities.
Statement 4:Whenever core inflation rises, Central Banks increase their key policy rates to suck excess liquidity from the market and vice versa.
Additional Information:
Core Inflation is also known as underlying inflation, is a measure of inflation which excludes items that face volatile price movement, notably food and energy. Since food and energy prices are highly volatile, headline inflation may not give an accurate picture of how an economy is behaving.
Question 2 of 5
2. Question
2 points
The Fundamental Rights promote the idea of :
Correct
The answer is c.
The Fundamental Rights promote the idea of political democracy. They operate as limitations on the tyranny of the executive and arbitrary laws of the legislature.
Incorrect
The answer is c.
The Fundamental Rights promote the idea of political democracy. They operate as limitations on the tyranny of the executive and arbitrary laws of the legislature.
Question 3 of 5
3. Question
2 points
Which of the following is described by Dr B.R. Ambedkar as a ‘novel’ feature of the Constitution?
Correct
The answer is b.
Dr B.R. Ambedkar describes Directive Principles of State Policy as a ‘novel’ feature of the Constitution. They are enumerated in Part IV of the Constitution.
Incorrect
The answer is b.
Dr B.R. Ambedkar describes Directive Principles of State Policy as a ‘novel’ feature of the Constitution. They are enumerated in Part IV of the Constitution.
Question 4 of 5
4. Question
2 points
Consider the following:
a. Election Commission of India
b. Comptroller and Auditor General of India
c. Attorney General
d. Union Public Service Commission
e. State Public Service Commission
How many of the above are envisaged by the Constitution as the bulwarks of the democratic system of Government in India?
Correct
The answer is c.
Attorney General is incorrect. The Election Commission of India, The Comptroller and Auditor General of India, The Union Public Service Commission and the State Public Service Commission are envisaged by the Constitution as the bulwarks of the democratic system of Government in India.
Incorrect
The answer is c.
Attorney General is incorrect. The Election Commission of India, The Comptroller and Auditor General of India, The Union Public Service Commission and the State Public Service Commission are envisaged by the Constitution as the bulwarks of the democratic system of Government in India.
Question 5 of 5
5. Question
2 points
Consider the following statements about the Preamble:
a. The Preamble is based on the Objectives Resolution.
b. Till date, it has been amended only once.
c. The Preamble embodies the basic philosophy and fundamental values on which the Constitution is based.
How many of the statements given above are correct?
Correct
The answer is c.
All three statements are correct.
Statement 1: The Preamble to the Indian Constitution is based on the ‘Objectives Resolution’, drafted and moved by Pandit Nehru, and adopted by the Constituent Assembly.
Statement 2: It has been amended by the 42nd Constitutional Amendment Act (1976), which added three new words–Socialist, Secular and Integrity.
Statement 3: The Preamble embodies the basic philosophy and fundamental
values–political, moral and religious–on which the Constitution is based.
Incorrect
The answer is c.
All three statements are correct.
Statement 1: The Preamble to the Indian Constitution is based on the ‘Objectives Resolution’, drafted and moved by Pandit Nehru, and adopted by the Constituent Assembly.
Statement 2: It has been amended by the 42nd Constitutional Amendment Act (1976), which added three new words–Socialist, Secular and Integrity.
Statement 3: The Preamble embodies the basic philosophy and fundamental
values–political, moral and religious–on which the Constitution is based.
