🏋️ SESSION 03 — Economy + Science & Tech Sectional Quiz

Type: Prelims sectional · 50Q · 60 min · +2/−0.66 · OMR, timed, no pauses.

ECONOMY (Q1–25)

1. Repo rate is the rate at which RBI: (a) Borrows from banks (b) Lends to banks (c) Sets CRR (d) Prints money
2. The MPC targets ___ inflation: (a) WPI (b) CPI (c) Core only (d) Food only
3. Fiscal deficit equals: (a) Total exp − total receipts (excl. borrowings) (b) Revenue exp − revenue receipts (c) Fiscal − interest (d) Exports − imports
4. GST is a ___ tax: (a) Direct (b) Destination-based indirect (c) Wealth (d) Corporate
5. M3 is: (a) Currency with public (b) Broad money (c) Reserve money (d) Bank credit
6. FDI differs from FPI in being: (a) Short-term (b) Long-term with control (c) Portfolio (d) Hot money
7. The Finance Commission is under Article: (a) 280 (b) 324 (c) 148 (d) 112
8. Primary deficit = fiscal deficit minus: (a) Interest payments (b) Subsidies (c) Taxes (d) Grants
9. CRR is held as cash with: (a) The bank (b) RBI (c) Government (d) SEBI
10. NPA is a loan overdue beyond: (a) 30 days (b) 60 days (c) 90 days (d) 180 days
11. Disguised unemployment is common in: (a) Industry (b) Agriculture (c) Services (d) IT
12. LPG reforms were in: (a) 1969 (b) 1991 (c) 2000 (d) 2016
13. The GST Council is a ___ body: (a) Statutory (b) Constitutional (c) Executive (d) Advisory
14. SLR is maintained in: (a) Cash with RBI only (b) Liquid assets like gold, cash, securities (c) Foreign currency (d) Real estate
15. HDI includes health, education, and: (a) Employment (b) Income (GNI per capita) (c) Housing (d) Assets
16. WPI excludes: (a) Fuel (b) Services (c) Manufactured goods (d) Primary articles
17. The Union Budget is presented under Article: (a) 110 (b) 112 (c) 123 (d) 280
18. Demographic dividend is a: (a) Permanent gain (b) Temporary window (c) Tax (d) Deficit
19. MSP is recommended by: (a) RBI (b) CACP (c) NITI Aayog (d) FCI
20. Twin deficit refers to fiscal + ___ deficit: (a) Revenue (b) Current account (c) Trade (d) Primary
21. NITI Aayog replaced the Planning Commission in: (a) 2014 (b) 2015 (c) 2016 (d) 2017
22. Reverse repo/SDF is used to: (a) Inject liquidity (b) Absorb liquidity (c) Print money (d) Set CRR
23. Direct tax example: (a) GST (b) Income tax (c) Excise (d) Customs
24. Crowding out is when government borrowing reduces: (a) Inflation (b) Private investment (c) Exports (d) Savings
25. Base effect in inflation is due to the: (a) Current price (b) Prior year's price level (c) Global prices (d) Wages

SCIENCE & TECH (Q26–50)

26. Photosynthesis occurs in the: (a) Mitochondria (b) Chloroplast (c) Nucleus (d) Ribosome
27. Insulin is produced by the: (a) Liver (b) Pancreas (c) Kidney (d) Spleen
28. Haemoglobin contains: (a) Magnesium (b) Iron (c) Copper (d) Zinc
29. The blue sky is due to: (a) Reflection (b) Scattering of light (c) Dispersion (d) Refraction
30. CRISPR-Cas9 is used for: (a) Navigation (b) Gene editing (c) Water purification (d) Solar power
31. Aryabhata was India's first: (a) Reactor (b) Satellite (c) Aircraft carrier (d) Supercomputer
32. Mangalyaan was a mission to: (a) Moon (b) Mars (c) Sun (d) Venus
33. Chlorophyll contains: (a) Iron (b) Magnesium (c) Calcium (d) Zinc
34. Night blindness is due to deficiency of vitamin: (a) A (b) B (c) C (d) D
35. Bt cotton resists: (a) Drought (b) Bollworm (c) Fungus (d) Salinity
36. A geostationary orbit is about ___ km high: (a) 400 (b) 2000 (c) 36,000 (d) 100,000
37. The powerhouse of the cell is the: (a) Nucleus (b) Mitochondria (c) Ribosome (d) Vacuole
38. Green hydrogen is made by: (a) Burning coal (b) Electrolysis using renewables (c) Gas reforming (d) Fission
39. Malaria is caused by: (a) Bacteria (b) Plasmodium (protozoan) (c) Virus (d) Fungus
40. PSLV is a: (a) Missile (b) Launch vehicle (c) Satellite (d) Reactor
41. DNA→RNA→protein is the: (a) Krebs cycle (b) Central dogma (c) Calvin cycle (d) Photosynthesis
42. Vitamin C deficiency causes: (a) Rickets (b) Scurvy (c) Beriberi (d) Goitre
43. Aditya-L1 studies the: (a) Moon (b) Sun (c) Mars (d) Jupiter
44. Ozone in the stratosphere blocks: (a) Infrared (b) Ultraviolet (c) Microwaves (d) Radio waves
45. The reflectivity of a surface is its: (a) Albedo (b) Insolation (c) Emissivity (d) Conductivity
46. Blockchain is a: (a) Central database (b) Distributed immutable ledger (c) Missile (d) Satellite
47. Rickets is caused by deficiency of vitamin: (a) A (b) B (c) C (d) D
48. BrahMos is a ___ missile: (a) Ballistic (b) Cruise (c) Anti-tank (d) Surface-to-air only
49. Goitre is caused by deficiency of: (a) Iron (b) Iodine (c) Calcium (d) Vitamin C
50. Nuclear fission ___ a heavy nucleus: (a) Combines (b) Splits (c) Melts (d) Freezes

✅ ANSWER KEY

1.b 2.b 3.a 4.b 5.b 6.b 7.a 8.a 9.b 10.c 11.b 12.b 13.b 14.b 15.b 16.b 17.b 18.b 19.b 20.b 21.b 22.b 23.b 24.b 25.b 26.b 27.b 28.b 29.b 30.b 31.b 32.b 33.b 34.a 35.b 36.c 37.b 38.b 39.b 40.b 41.b 42.b 43.b 44.b 45.a 46.b 47.d 48.b 49.b 50.b

SCORING

Score = (Correct×2) − (Wrong×0.66) = ____/100 · 60+ excellent Tag every question; copy errors to your Error Notebook, then revise those NOTES sections.

🧠 CONCEPTS TESTED — Topic Explainer

Economy concepts behind Q1–25

• Monetary policy tools: Repo = RBI lends to banks (raise it → costlier credit → curbs inflation). Reverse repo/SDF = RBI absorbs liquidity. MSF = emergency borrowing above repo. CRR = cash parked with RBI (earns nothing). SLR = liquid assets (gold, cash, approved securities) held by the bank itself. OMO = RBI buys/sells G-secs to manage liquidity.
• MPC: 6 members (3 RBI + 3 government-appointed); targets CPI inflation at 4% ± 2%. Note WPI excludes services; CPI is the policy anchor.
• Deficits: Fiscal deficit = total expenditure − total receipts excluding borrowings (i.e., the government's total borrowing need). Revenue deficit = revenue exp − revenue receipts. Primary deficit = fiscal deficit − interest payments.
• Money supply: M1 (narrow) ⊂ M3 (broad money, includes time deposits) — M3 is the commonly cited aggregate.
• Taxes: Direct (income, corporate — progressive) vs Indirect (GST — destination-based, 101st Amendment; GST Council is a constitutional body, Art 279A).
• External sector: FDI = lasting interest/control, stable; FPI = portfolio "hot money," volatile. Current account = goods + services + remittances; FDI/FPI sit in the capital account.
• Fiscal institutions: Finance Commission (Art 280) recommends Centre–State tax devolution; the Budget is Art 112.
• Concepts: NPA = loan overdue >90 days. Crowding out = government borrowing squeezing private investment. Base effect = a low/high prior-year price level distorting the current inflation rate. Disguised unemployment = surplus workers with near-zero marginal productivity (classic in agriculture). Twin deficit = fiscal + current account.
• Timeline: 1991 LPG reforms (BoP crisis) · 2015 NITI Aayog replaces Planning Commission · 2016 IBC/demonetisation · 2017 GST.
• HDI = life expectancy + education + GNI per capita (PPP), by UNDP.

Science & Technology concepts behind Q26–50

• Cell biology: Chloroplast = photosynthesis (contains magnesium-centred chlorophyll); mitochondria = ATP "powerhouse"; nucleus = DNA.
• Human physiology: Pancreas secretes insulin (deficiency → diabetes); haemoglobin contains iron; thyroid needs iodine (deficiency → goitre).
• Vitamin deficiencies (high-yield): A → night blindness · B1 → beriberi · B3 → pellagra · C → scurvy · D → rickets · protein → kwashiorkor.
• Optics: the blue sky and red sunset are Rayleigh scattering; rainbows are dispersion; mirages are refraction; optical fibres use total internal reflection.
• Space: Aryabhata (1975) = India's first satellite; Mangalyaan = Mars; Chandrayaan = Moon; Aditya-L1 = Sun (at Lagrange point L1). Geostationary orbit ≈ 36,000 km; PSLV/GSLV/LVM3 are launch vehicles.
• Genetics & biotech: central dogma DNA → RNA → protein; CRISPR-Cas9 = targeted gene editing; Bt cotton carries a Bacillus thuringiensis gene giving bollworm resistance.
• Disease agents: malaria = Plasmodium (protozoan) via Anopheles; dengue = virus via Aedes; TB/cholera = bacteria.
• Energy & defence: green hydrogen = electrolysis powered by renewables; fission splits a heavy nucleus (fusion combines light nuclei); BrahMos is a supersonic cruise missile (Agni is ballistic).
• Atmosphere: stratospheric ozone absorbs ultraviolet; albedo = reflectivity of a surface.
• Emerging tech: blockchain = distributed, immutable ledger; AI/ML = learning patterns from data; quantum computing uses qubits.

📝 PER-QUESTION EXPLANATIONS

Economy 1. (b) Repo = the rate at which RBI lends to banks against securities. 2. (b) The MPC targets CPI (retail) inflation, not WPI. 3. (a) Fiscal deficit = total expenditure − total receipts excluding borrowings. 4. (b) GST is a destination-based indirect tax. 5. (b) M3 is broad money (includes time deposits). 6. (b) FDI implies lasting interest and management control; FPI is portfolio. 7. (a) Finance Commission = Art 280. 8. (a) Primary deficit = fiscal deficit − interest payments. 9. (b) CRR is cash maintained with the RBI. 10. (c) An asset turns NPA after 90 days of overdue payment. 11. (b) Disguised unemployment is typical of Indian agriculture. 12. (b) LPG reforms came in 1991 after the BoP crisis. 13. (b) The GST Council is constitutional (Art 279A). 14. (b) SLR is held in liquid assets by the bank itself. 15. (b) HDI's third dimension is income (GNI per capita, PPP). 16. (b) WPI covers goods only — no services. 17. (b) The Annual Financial Statement is Art 112. 18. (b) The demographic dividend is a time-bound window, not permanent. 19. (b) CACP recommends MSP (for 23 crops). 20. (b) Twin deficit = fiscal deficit + current account deficit. 21. (b) NITI Aayog was set up in 2015. 22. (b) Reverse repo/SDF absorbs surplus liquidity. 23. (b) Income tax is a direct tax. 24. (b) Crowding out reduces private investment. 25. (b) Base effect arises from the previous year's price level.

Science & Technology 26. (b) Photosynthesis happens in chloroplasts. 27. (b) Insulin is secreted by the pancreas (beta cells). 28. (b) Haemoglobin is an iron-containing protein. 29. (b) Rayleigh scattering makes the sky blue. 30. (b) CRISPR-Cas9 edits genes at targeted DNA sites. 31. (b) Aryabhata (1975) was India's first satellite. 32. (b) Mangalyaan (MOM) was India's Mars mission. 33. (b) Chlorophyll's central metal atom is magnesium. 34. (a) Vitamin A deficiency causes night blindness. 35. (b) Bt cotton resists bollworm attack. 36. (c) Geostationary orbit is about 36,000 km above the equator. 37. (b) Mitochondria produce ATP — the cell's powerhouse. 38. (b) Green hydrogen uses renewable-powered electrolysis. 39. (b) Malaria is caused by the protozoan Plasmodium. 40. (b) PSLV is ISRO's workhorse launch vehicle. 41. (b) DNA→RNA→protein is the central dogma of molecular biology. 42. (b) Vitamin C deficiency causes scurvy. 43. (b) Aditya-L1 is India's solar observation mission. 44. (b) Stratospheric ozone absorbs harmful UV radiation. 45. (a) Albedo measures a surface's reflectivity. 46. (b) Blockchain is a distributed, immutable ledger. 47. (d) Vitamin D deficiency causes rickets. 48. (b) BrahMos is a supersonic cruise missile. 49. (b) Iodine deficiency causes goitre. 50. (b) Fission splits a heavy nucleus, releasing energy.

Verify anything doubtful against ../../NOTES/04-Economy-Notes.md and ../../NOTES/06-Science-and-Tech-Notes.md.