1.
What is the importance of the Xinjiang region that Is frequently in news?1. Aksai Chin, a disputed territory between India and China, falls in this region.2. It is China's largest natural gas-producing regions.3. It borders some the countries of Central Asia alongwith Russia, Afghanistan and Pakistan.4. It borders the Tibet Autonomous Region where several movements are active against the Chineseoccupation.Select the correct answer using the codes below.
:Justification: Xinjiang is a provincial-level autonomous region of China in the northwest of the country.It is the largest Chinese administrative division and the eighth largest country subdivision in the world,spanning over 1.6 million km2. Xinjiang contains the disputed territory of Aksai Chin, which is administeredby China and claimed by India. Xinjiang borders the countries of Mongolia, Russia, Kazakhstan, Kyrgyzstan,Tajikistan, Afghanistan, Pakistan and India. The rugged Karakoram, Kunlun, and Tian Shan mountain rangesoccupy much of Xinjiang's borders, as well as its western and southern regions. Xinjiang also borders TibetAutonomous Region and the provinces of Gansu and Qinghai. The most well-known route of the historicalSilk Road ran through the territory from the east to its northwestern border. In recent decades, abundant oiland mineral reserves have been found in Xinjiang, and it is currently China's largest natural gas-producingregion.
2.
The production possibility frontier will NOT be influenced even if the following factor changes in theeconomy:
:Justification: Option C: This is because PPF shows a possibility of production and not what the consumerswant to be produced. Even if the consumers change their preferences, the possibility of production in theeconomy in terms of technological capability or manpower remains the same. For e.g. if all the resources areused in the production of corn, the maximum amount of corn that can be produced is 4 units and if allresources-are used in the production of cotton, at the most, 10 units of cotton can be produced. Theeconomy can also produce 1 unit of corn and 9 units of cotton or 2 units of corn and 7 units of cotton or 3units of corn. There can be many other possibilities. These possibilities are not changed even if the consumerpreference changes, the actual quantity of each good produced may however depend on the consumerpreference. Option A and-B: These will tend to shift the PPF downwards or upwards4}ecause animprovement in technology or resources would imply a change in production possibilities.
3.
Consider the following statement.1. E.V. Ramasami Naicker was a worker of the Congress party, started the self-respect movement and led theanti-Brahmin movement.2. Madurai Pillai, affectionately called Thatha, for his untiring efforts towards scheduled castesaccompanied Dr. Ambedkar to the Round Table Conference.Which of the above is/are correct?
:Justification: Statement 1: He was Rettaimalai Srinivasan. Affectionately called Thatha (Grandfather) for hisuntiring efforts to re-establish the cultural ownership and legacy of the scheduled communities, heaccompanied Dr. Ambedkar to the Round Table Conference. He rejected demeaning terms like 'Depressedclasses', which was perhaps the precursor to today's label 'Dalit'. He wanted Scheduled Communities to benamed 'reformist Hindus' because they rejected the disease of untouchability plaguing the so-called casteHindus. ^Statement; 2: Known as Periyar (the respected); strong supporter of atheism; famous for his anticastestruggle and rediscovery of Dravid identity; initially a worker of the Congress party; started the self-respectmovement (1925); led the anti-Brahmin movement; worked for the Justice party and later founded DravidKazhagam; opposed to Hindi and domination of north India; propounded the thesis that north Indians andBrahmins are Aryans. The Dravidian movement led to the formation of Dravida Kazhagam [DK] under theleadershipjof E.V. Ramasami 'Periyar'.
4.
Adam Smith had suggested that if the buyers and sellers in each market take their decisions following 'only their own self-interest, economists will^t need to think of the wealth and welfare of the countryas a whole separately. However this is unlikely to be so If1. Markets do not exist.2. Markets do not produce equilibrium of demand and supply of goods and services.3. Market related outcomes do not coincide with socially desirable outcomes.4. Markets are unable to utilize the full spectrum of resources in the society.Select the correct answer using the codes below.
:Background: Part of this explanation coincides with the explanation for the Q on Great depression. Thedominant thinking in economics before Keynes was that all the labourers who are ready to work will findemployment and all the factories will be working at their full capacity. This school of thought is known as theclassical tradition. However, the Great Depression of 1929 and the subsequent years saw the output andemployment levels in the countries of Europe and North America fail by huge amounts. It affected othercountries of the world as well. Demand for goods in the market was low, many factories were lying idle,workers were thrown out of jobs.Justification: Statement 1; Economists found that first, in some cases, the markets did not or could not exist.This can be due to lack of buyers or suppliers, for e.g. of a scare good during a war.Statement 2: Secondly, in some other cases, the markets existed but failed to produce equilibrium ofdemand and supply. The whole theory of free market rests on the assumption that markets are able tosatisfy (supply) whatever is needed (demand). But, there can be instance when the supply is not forthcomingor there is little demand despite the lower price.Statement 3 and 4: Thirdly, and most importantly, in a large number of situations society (or the State, orthe people as a whole) had decided to pursue certain important social goals unselfishly (in areas likeemployment, administration: defence, education and health) for*"which some of the aggregate effects of themicroeconomic decisions made by the individual economic agents needed to be modified. In a developingcountry like India such choices have to be made to remove or reduce unemployment, to improve access toeducation and primary health care for all, to provide for good administration, to provide sufficiently for thedefence of the country and so on. Macroeconomics tries to address situations facing the economy as awhole.
5.
If a triangle is made with the capital of the nations of Belgium, Hungary and Madrid, which of thesenations will fall completely inside the triangle?
6.
Consider the following statements about the agreements signed between india and USA in the recentpast.1. Logistics Exchange Memorandum of Association (LEMOA) gives access, to both countries, to designatedmilitary facilities on either side for mounting surgical strikes on mutual target countries.2. Defence Technology and Trade Initiative (DTTI) aimed at simplifying technology transfer policies andexploring possibilities of co-development and co-production to invest the defence relationship with strategicvalue. IWhich of the above Is/are correct?
:Justification: Statement 1: The three agreements
7.
Considering a fixed population, the unemployment rate in a country is going to rise in the short run if
;Justification: Keep in mind that we are taking a short term scenario where the labour force is assumed to befixed. So I people in the labour force can either seek work or not seek work Unemployed people are the oneswho are willing and available to work and have actively sought work. Those with temporary part-time orfuil-time jobs are considered employed. To calculate the unemployment rate, the number of unemployedpeople isidivided by the number of people in the labor force, which consists of ail employed andunemployed people. The ratio is expressed as a percentage. Options C and D would keep the UR constantOption B would reduce the UR because people would not be interested in employment, option A oniy wouldincrease the UR.
8.
Only one side of the moon Is visible to us on the earth mainly due to
:Justification: The moommaves around the earth in about 27 days. It takes exactly the same time tocomplete one spin. As a result, only one side of the moon is visible to us on the earth. You can watch thisanimation for better understanding https;//wvvw.voutube.com/watch?v=OZIB ieg7.sn Optinn B: Even if theearth was not tilted, you would be able to see only one side of the moon. The geoid shape of earth hasnothing to do with our view of the Moon. Even if the earth were to become slightly flatter or rounder thesight of the moon won't change much.
9.
Consider the following statements.1. Earth's magnetic axis and rotational axis do not coincide.2. Direction of earth's magnetic axis can be found by taking a tangent to any point on the inner Van Allenradiation belt.3. Magnetic equator circles the earth as a smooth line like the geographic equator, albeit on a differentplane.4. Earth's magnetic dipole passes through the Centre of the earth.Which of the above is/are correct?
; The motions of the liquid iron and nickel outer core of the earth are thought to createthe earth's magnetic field. This magnetic field resembles a dipole as if a giant bar magnet was embeddedmside. SI and 2: However, the axis of the dipole is not aligned with the rotational axis of the earth. Neither isit centered in the earth. The magnetic dipole axis of the earth is tilted about 11
10.
There will be no difference between the amount that the firms had distributed in the form of factorpayments and the aggregate consumption expenditure that they receive as sales revenue in a
:Justification: Factor payments are the sum total of remunerations earned by the four factors ofproduction. Only if it is a closed system where only those who work are able to buy goods, there isno leakage from the system. See the diagram below.fiPTirtetQeocM led aeilceeKMM Pii^ayito. tamrtenrm2 t On 11^ fhipii jIn Fig. 2.1, the uppermost arrow, going from the households to the firms, represents the spending thehouseholds undertake to buy goods and services produced by the firms. The second arrow going from thefirms to the households is the counterpart of the arrow above. It stands for the goods and services which areflowing from the firms to the households. In other words this flow is what the iouseholds are getting fromthe firms for which they are making the expenditures. Observe that the aggregate spending of the economymust be equal to the aggregate income earned by the factors of production {the flows are equal at A and C).Q Source: Page 15: Chapter 2:12th NCERT Macroeconomics