60days planner – Day 9

Welcome to your 60days planner - Day 9

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1.Which of the following sectors is/are considered as Secondary Sector?



  1. Manufacturing

  2. Mining and Quarrying

  3. Electricity, Gas and Water Supply

  4. Construction

2. Consider the following statements with reference to Changes made in calculation of GDP:



  1. The base year for the calculation of GDP was changed to 2011-12 from 2004-05.

  2. GDP will be measured by using gross value added (GVA) at market price, rather than factor cost.


Which of the above statements is/are correct?

3. Consider the following statements:



  1. GDP is always greater then GNP

  2. GDP is always lower than GNP

  3. GDP is equal to GNP when “income from Abroad” is zero


Which of the above statements is/are correct?

4. Consider the following statements with reference to Gross Domestic Production.



  1. It is a quantitative concept which indicates the internal strength of the economy.

  2. It is used by IMF&WB in the comparative analyses of its member nations.

  3. GDP is widely criticized for not considering qualitative aspect of the economy.


Which of the above statements is/are correct?

5. Which of the following statements is/are correct about Purchasing Power Parity?



  1. It is a technique used to determine the relative value of different currencies.

  2. This concept works on the assumption that markets work on the law of one price.


Which of the above statements is/are correct?

6. Recently Tokyo Convention 1963 was in news, why?

7. Consider the following statements



  1. The Far Eastern Federal District of Russia has land borders with China and North Korea

  2. Lake Baikal is the largest freshwater lake by volume in the world located in Siberia


Which of the above statements is/are correct?

8. Consider the following statements about GST Composition Scheme:



  1. It can be choose by any taxpayer whose turnover is less than Rs. 1 Crore

  2. Those who choose for this scheme can file returns on a quarterly basis


Which of the above statements is/are correct?