UPSC CSE Prelims
Meaning in Context Previous Year Questions (PYQs)
Practice solved questions for Meaning in Context with detailed step-by-step solutions, key insights, and trend analysis for UPSC CSE PRELIMS.
Solved Previous Year Questions
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Which of the following statements is/are correct?
- Real value should not change in the instance of static output cost and unchanged quantities against falling oil prices.
- Deflators are to be used separately for inputs and outputs, and this is a practice universally adopted by all economies.
Select the answer using the code given below.
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Correct Answer: Option D
Detailed Explanation:
The passage clarifies that under double deflation, if oil prices fall while output prices and quantities remain constant, real value added should remain unchanged—not merely "real value" as Statement 1 claims.
- Statement 1 is Incorrect: It states "real value" instead of "real value added," misrepresenting the passage's specific reference to deflation methodology.
- Statement 2 is Incorrect: The passage states "most countries" use double deflation, and explicitly mentions India uses a single deflator—proving the practice is not universal.
- Therefore, neither statement is correct, making Option 4 the correct answer.
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Currently, there are 1 solved questions for Meaning in Context spanning years 2026 to 2026 with comprehensive answers and explanations.
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