14th July, 2017 (MAINS)


Q1. Write about the following (answer to each question should be in about 20 words): 2 × 15 = 30 marks

a. Explain the term Merit Goods

b. What is Cheap Money?

c. What is Countervailing Duty?

d. What is Hot Money?

e. Explain the Concept Trickle Down Theory

f. What is Stagflation?

g. What is Engel’s Law?

h. Meaning of CCIL

i. What is Administered Price?

j. What is Venture Capital?

k. Explain the term Balance on Current Account

l. What is Consolidated Fund?

m. What is Budget Deficit?

n. Explain the term Most Favored Nations

o. Meaning of Capital-Output Ratio

[2X15=30marks/2007/GS-3] (answer to each question should be in about 20 words).

Please write answer in the comments section.

  • Arun Kumar Das

    a. Merit goods are those goods and services that the government feels that people will under-consume, and which ought to be subsidised or provided free at the point of use so that consumption does not depend primarily on the ability to pay for the good or service.

  • Arun Kumar Das

    1. B. DEFINITION of ‘Cheap Money’ A loan or credit with a low interest rate, or the setting of low interest rates by a central bank like the Federal Reserve.

  • alok soni

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