Minimalist IAS
Economy & social development

Prelims · Economy & social development · 24 questions

National income, growth & inflation

Every UPSC Prelims question on this topic, 2016–2026, newest first. Tap an option to check yourself; the answer and explanation open below it.

National income, growth & inflation questions per year: 2016: 0, 2017: 0, 2018: 2, 2019: 2, 2020: 2, 2021: 2, 2022: 1, 2023: 0, 2024: 2, 2025: 0, 2026: 0 Asked in 6 of 11 years · most in 2024 (2)

Practising Economy & social development? Take it as timed sets of 25 →

UPSC syllabus: “Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc.” Sub-topics in the detailed syllabus →

निम्नलिखित कथनों पर विचार कीजिए :

  1. कथन–I: कोविड विश्वमारी के बाद के हाल के विगत काल में, पूरे विश्व में अनेक केन्द्रीय बैंकों ने ब्याज दरें बढ़ा दी थीं।
  2. कथन–II: आमतौर पर केन्द्रीय बैंक मानते हैं कि उनके पास बढ़ती हुई उपभोक्ता कीमतों का, मौद्रिक नीति के उपायों से, प्रतिकार करने की सामर्थ्य है।

उपर्युक्त कथनों के बारे में, निम्नलिखित में से कौन-सा एक सही है?

Read this question in English

Consider the following statements:

Statement-I. In the post-pandemic recent past, many Central Banks worldwide had carried out interest rate hikes.

Statement-II. Central Banks generally assume that they have the ability to counteract the rising consumer prices via monetary policy means.

Which one of the following is correct in respect of the above statements?

(a) Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I · (b) Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I · (c) Statement-I is correct but Statement-II is incorrect · (d) Statement-I is incorrect but Statement-II is correct

उत्तर और व्याख्या · explanation in English

Answer: (a) कथन–I और कथन–II दोनों सही हैं तथा कथन–II, कथन–I की सही व्याख्या है

After the pandemic and the Russia-Ukraine war pushed prices up, central banks led by the US Federal Reserve raised policy rates in step with one another. They did so because they believe that dearer money cools demand and brings inflation down, so Statement-II explains Statement-I.

  • ✓ Statement-I The Economic Survey 2022-23 records synchronised policy rate hikes by central banks across economies to curb inflation, with the US Federal Reserve raising rates at its fastest pace since the 1970s.
  • ✓ Statement-II Monetary policy is the main tool central banks use against inflation; in India the RBI Act makes price stability the primary objective of monetary policy, with a flexible inflation target.

Remember · Inflation up → central bank raises policy rate (repo) → borrowing costlier → demand cools → prices ease. RBI: primary objective is price stability, keeping growth in mind.

Sources

Question and answer: UPSC's official GS Paper I (2023, Series A) — paper ↗ · answer key ↗. Explanation: Minimalist IAS, checked 30 Sept 2026 (how we verify). Permalink ·

निम्नलिखित परिसंपत्तियों में निवेशों पर विचार कीजिए :

  1. 1.ब्रांड पहचान
  2. 2.माल-सूची
  3. 3.बौद्धिक संपदा
  4. 4.ग्राहकों की डाक-सूची

उपर्युक्त में से कितने अमूर्त निवेश माने जाते हैं?

Read this question in English

Consider the investments in the following assets:

1. Brand recognition

2. Inventory

3. Intellectual property

4. Mailing list of clients

How many of the above are considered intangible investments?

(a) Only one · (b) Only two · (c) Only three · (d) All four

उत्तर और व्याख्या · explanation in English

Answer: (c) केवल तीन

An intangible asset has no physical substance: brands, patents and copyrights, software, and customer or mailing lists. Inventory (raw materials, work in progress and finished goods) is physical stock, so it is a tangible asset. Three of the four are intangible.

  • ✓ 1. Spending on building a brand creates value that has no physical form; accounting standards treat brands and trademarks as intangible items.
  • ✗ 2. Inventory consists of physical goods held for production or sale, a tangible (current) asset.
  • ✓ 3. Intellectual property such as patents, copyrights and trademarks is the classic example of an intangible asset.
  • ✓ 4. A mailing list of clients is a customer list, which accounting standards list alongside brands and publishing titles as an intangible item.

Remember · Intangible = no physical substance: brands, IP (patents, copyrights, trademarks), software, customer lists, goodwill. Inventory, machinery and buildings are tangible.

Sources

  • IFRS Foundation, IAS 38 Intangible Assets ↗ · reference work “An intangible asset is an identifiable non-monetary asset without physical substance. … For this reason, internally generated brands, mastheads, publishing titles, customer lists and similar items are not recognised as intangible assets.”

Question and answer: UPSC's official GS Paper I (2023, Series A) — paper ↗ · answer key ↗. Explanation: Minimalist IAS, checked 30 Sept 2026 (how we verify). Permalink ·

The Syllabus X-Ray of this topic

2 of its 9 sub-topics are High

0 Core · 2 High · 2 Steady · 5 Rare

  • HighSectors, capital & planning basics · 5 questions
  • HighInflation & price indices · 3 questions

The X-Ray ranks all 928 sub-topics of the UPSC syllabus by what UPSC has asked since 2016. The 60 Prelims Core sub-topics are behind 51% of Prelims questions.

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