Consider the following statements about GDP deflator.
- GDP deflator reflects the prices of all domestically produced goods and services in the economy.
- The GDP deflator also includes the prices of investment goods, government services and exports.
- Monthly change in inflation cannot be tracked using GDP deflator.
Which of the above statements is/are correct?
A-1 and 2
B-2 and 3
C-1 and 3
D-1, 2 and 3
Solution – D
The Gross Domestic Product (GDP) deflator is a measure of general price inflation. It is calculated by dividing nominal GDP by real GDP and then multiplying by 100.
There are other measures of inflation too like Consumer Price Index (CPI) and Wholesale Price Index (or WPI); however, GDP deflator is a much broader and comprehensive measure. Since Gross Domestic Product is an aggregate measure of production, being the sum of all final uses of goods and services (less imports), GDP deflator reflects the prices of all domestically produced goods and services in the economy whereas, other measures like CPI and WPI are based on a limited basket of goods and services, thereby not representing the entire economy.
The GDP deflator also includes the prices of investment goods, government services and exports, and excludes the price of imports.
While WPI and CPI are available on monthly basis the deflator comes with a lag (yearly or quarterly, after quarterly GDP data is released). Hence, monthly change in inflation cannot be tracked using GDP deflator, limiting its usefulness.
With reference to the Ramsar Convention, consider the following statements:
- It was signed in Iran
- Under the convention, human-made sites such as rice paddies too can be designated as wetlands.
Which of the statements given above is/are correct?
A-1 Only
B-2 Only
C-Both 1 and 2
D-Neither 1 nor 2
Solution – C
- The Convention on Wetlands was adopted in the Iranian city of Ramsar in 1971 and came into force in 1975. Since then, almost 90% of UN member states, from all the world’s geographic regions, have acceded to become “Contracting Parties”.
• The Convention uses a broad definition of wetlands. It includes all lakes and rivers, underground aquifers, swamps and marshes, wet grasslands, peat lands, oases, estuaries, deltas and tidal flats, mangroves and other coastal areas, coral reefs, and all human- made sites such as fish ponds, rice paddies, reservoirs and salt pans.
Which of the following are/ is an ecotone?
- Mangroves
- Grassland
- Forest
- Estuary
- Coral Reef
Select the correct code:
A-1, 2 and 3
B-1, 2 and 4
C-2, 3, 4 and 5
D-1, 3, 4 and 5
Solution – B
An ecotone is a transition area between two biomes. It is where two communities meet and integrate. It may be narrow or wide, and it may be local (the zone between a field and forest) or regional (the transition between forest and grassland ecosystems).
For e.g. the mangrove forests represent an ecotone between marine and terrestrial ecosystem, grassland (between forest and desert), estuary (between fresh water and salt water) and river bank or marsh land (between dry and wet).
Who is the former ISRO chairman who initiated the development of the Geo Stationary Launch Vehicle (GSLV) and the development of cryogenic technology in 1991?
A-G. Madhavan Nair
B.KK Radhakrishnan
C. UR Rao
D. Shailesh Nayak
Solution – C
Consider the following pairs:
National Park State
- Sanjay Gandhi National Park Maharashtra
- Manas National Park West Bengal
- Dudhwa National Park Uttar Pradesh
- Dachigam National Park Uttarakhand
Which of the above pairs are correctly matched?
A-2, 4
B-1 and 3
C-1, 2 and 3
D-2, 3 and 4
Solution – B
Manas National Park – Manas National Park or Manas Wildlife Sanctuary is a national park, UNESCO Natural World Heritage site, a Project Tiger reserve, an elephant reserve and a biosphere reserve in Assam
Dachigam National Park – Dachigam National Park is located 22 kilometres from Srinagar, Jammu and Kashmir.
Which of the following statement/s is/are correct regarding Sufi silsilahs?
1) The Sufi orders were divided into two – Be-shari’a, those which followed the Islamic Law (shari’a) and Ba-shari’a, those who were not bound by it.
2) Qalandars, Madaris, Malangs, Haidaris, etc. were some of the Ba-shari‘a Sufis.
A-Only 1
B.Only 2
C. Both 1 and 2
D. None of the above
Solution – D
Some mystics initiated movements based on a radical interpretation of Sufi ideals. Many scorned the khanqah and took to mendicancy and observed celibacy. They ignored rituals and observed extreme forms of asceticism. They were known by different names – Qalandars, Madaris, Malangs, Haidaris, etc. Because of their deliberate defiance of the Shari‘a they were often referred to as be-shari‘a, in contrast to the ba-shari‘a Sufis who complied with it.
Consider the relationship between species diversity and area
- The species diversity is directly proportional to the area
- The rate of increase of species diversity with area is lesser for a small city than over a continent
Select the right code
A-1 only
B-2 only
C-Both
D-None
Solution – C
German naturalist and geographer Alexander von Humboldt observed that within a region species richness increased with increasing explored area, but only up to a limit.
On a logarithmic scale, the relationship is a straight line described by the equation log S = log C + Z log A where
S= Species richness, A= Area, Z = slope of the line (regression coefficient)
C = Y-intercept
Ecologists have discovered that the value of Z lies in the range of 0.1 to 0.2, regardless of the taxonomic group or the region (whether it is the plants in Britain,
birds in California or molluscs in New York State, the slopes of the regression line are amazingly similar).
But the species-area relationships among very large areas like the entire continents, the slope of the line to be much steeper (Z values in the range of 0.6 to 1.2)
Which of the following statements is/are correct?
- The purchasing power of currency falls due to inflation.
- Deflation is a slowdown in the rate of price inflation.
- Core inflation includes Food and Fuel.
- Stagflation occurs when the prices of goods rise while unemployment increases and spending declines.
Which of the above statements is/are correct?
A-1 and 2 only
B-1 and 4
C-2 and 3
D-All of the above
Solution – B
Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling.
Disinflation is a slowing in the rate of price inflation.
Core inflation excludes Food and Fuel.
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