Quiz 88 April 14th Question 1 Statement 2: ‘The Petroleum and Explosives Safety Organisation (PESO) is responsible for administering fireworks-related rules and regulations’ – PESO is by and large responsible (the Controller of Explosives and Chief Controller of Explosives are under PESO) but in some instances it also is the District Magistrate or where there is a Police Commissioner system (like in Delhi or Mumbai, etc.), the Commissioner.
Up to a certain quantity, it is the District Magistrate or, where there is a Police Commissioner system (like in Delhi or Mumbai, etc.), the Commissioner. The manufacture of fireworks or gunpowder between 15 kg and 500 kg requires a licence from the Controller of Explosives, and larger units must be cleared by the Chief Controller of Explosives. Likewise, there are categories of licences to sell fireworks. The licensing authority is also the implementing authority of the rules.
The following quiz will have 5-10 MCQs . The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2016. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
Please try to enjoy questions, discuss the concepts and facts they try to test from you and suggest improvements.
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INSIGHTS CURRENT EVENTS QUIZ 2016
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Question 1 of 6
1. Question
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Which of the following problems, that a country ‘X’ could face, could theoretically be dealt with by the use of a Negative Interest Rate Policy (NIRP) – an unconventional monetary policy tool?
Currency Depreciation
Flow of Hot Money into its economy
A period of Deflation
Select the correct answer using the code given below:
Correct
Solution: b.
NIRP: “During deflationary periods, people and businesses hoard money instead of spending and investing. The result is a collapse in aggregate demand which leads to prices falling even farther, a slowdown or halt in real production and output, and an increase in unemployment. A loose or expansionary monetary policy is usually employed to deal with such economic stagnation. However, if deflationary forces are strong enough, simply cutting the central bank’s interest rate to zero may not be sufficient to stimulate borrowing and lending.”
“The Swiss government ran a de facto negative interest rate regime in the early 1970s to counter its currency appreciation due to investors fleeing inflation in other parts of the world.” … A negative interest reduces the demand for that currency, thereby resulting in the currency to depreciate. So a NIRP actually helps deal with problems arising due to a strong currency.
NIRP: “During deflationary periods, people and businesses hoard money instead of spending and investing. The result is a collapse in aggregate demand which leads to prices falling even farther, a slowdown or halt in real production and output, and an increase in unemployment. A loose or expansionary monetary policy is usually employed to deal with such economic stagnation. However, if deflationary forces are strong enough, simply cutting the central bank’s interest rate to zero may not be sufficient to stimulate borrowing and lending.”
“The Swiss government ran a de facto negative interest rate regime in the early 1970s to counter its currency appreciation due to investors fleeing inflation in other parts of the world.” … A negative interest reduces the demand for that currency, thereby resulting in the currency to depreciate. So a NIRP actually helps deal with problems arising due to a strong currency.
A species of mushroom genetically engineered by this method has recently been freed of regulation by the U.S. Department of Agriculture
The problem of inaccuracy of insertion of new (or ‘replacement’) DNA into cells has been overcome using this method
The above statements together are associated with which of the following gene-editing techniques?
Correct
Solution: c.
Statement 2 has been picked up from a question (November) earlier posted here.
“A species of genetically engineered mushroom has been freed of regulation by the U.S. Department of Agriculture (USDA). This means that it can be cultivated and sold without being overseen by the USDA, according to a news report published online in Nature recently. Though about 30 genetically modified organisms have been similarly freed by the USDA, the special thing about this mushroom species is that this is the first organism to have been edited using the tool CRISPR-Cas9, which has been making waves in the field of genome editing, lately.”
Statement 2 has been picked up from a question (November) earlier posted here.
“A species of genetically engineered mushroom has been freed of regulation by the U.S. Department of Agriculture (USDA). This means that it can be cultivated and sold without being overseen by the USDA, according to a news report published online in Nature recently. Though about 30 genetically modified organisms have been similarly freed by the USDA, the special thing about this mushroom species is that this is the first organism to have been edited using the tool CRISPR-Cas9, which has been making waves in the field of genome editing, lately.”
The bulk of Chinese investment in the China-Pakistan Economic Corridor project will be in the energy sector
China’s ‘One Belt One Road’ initiative entails not only transport infrastructure development but also energy and telecommunication infrastructure
Which of the statements above is/are correct?
Correct
Solution: c.
“Chinese firms will invest just under $ 46 billion in the project over six years — including $33.8 bn in energy projects and $ 11.8 bn in infrastructure, Reuters reported in November 2014, quoting an agreement signed by the two countries during a visit by Pakistan Prime Minister Nawaz Sharif to China earlier that month.”
“The CPEC is part of China’s larger regional transnational ‘One Belt One Road’ (OBOR) initiative, whose two arms are the land-based New Silk Road and the 21st century Maritime Silk Road, using which Beijing aims to create a Silk Road Economic Belt sprawled over a large patch of Asia and eastern Europe, and crisscrossed by a web of transport, energy supply and telecommunications lines.”
“Chinese firms will invest just under $ 46 billion in the project over six years — including $33.8 bn in energy projects and $ 11.8 bn in infrastructure, Reuters reported in November 2014, quoting an agreement signed by the two countries during a visit by Pakistan Prime Minister Nawaz Sharif to China earlier that month.”
“The CPEC is part of China’s larger regional transnational ‘One Belt One Road’ (OBOR) initiative, whose two arms are the land-based New Silk Road and the 21st century Maritime Silk Road, using which Beijing aims to create a Silk Road Economic Belt sprawled over a large patch of Asia and eastern Europe, and crisscrossed by a web of transport, energy supply and telecommunications lines.”
With reference to the National Institutional Ranking Framework (NIRF) – it outlines a methodology to rank institutions across the country – which of the following statements is/are incorrect?
Though they are recognised as engineering schools first, the IITs have competed under the category of ‘Universities’ in the Indian Rankings
For now, the participation of Higher Education Institutions in the India Ranking initiative is voluntary
Select the correct answer using the code given below:
Correct
Solution: a.
“These rankings will become an annual feature, and it is expected that both public and private institutions, and certainly students and parents, will find them useful. For now, however, the participation of HEIs in the initiative is still voluntary and needs to improve further.”
“It is also a matter of concern and surprise that the IITs have chosen to participate in the rankings under the “engineering” category. Though they are recognised as engineering schools first, they compete under the category of “universities” in THE and QS world and regional university rankings. To the extent that they aspire to compete globally as universities, it is strange they should compete as engineering institutions in “India Rankings”….”
“These rankings will become an annual feature, and it is expected that both public and private institutions, and certainly students and parents, will find them useful. For now, however, the participation of HEIs in the initiative is still voluntary and needs to improve further.”
“It is also a matter of concern and surprise that the IITs have chosen to participate in the rankings under the “engineering” category. Though they are recognised as engineering schools first, they compete under the category of “universities” in THE and QS world and regional university rankings. To the extent that they aspire to compete globally as universities, it is strange they should compete as engineering institutions in “India Rankings”….”
“Kalamkari painting is a type of Indian folk textile art that involves free hand drawing and painting or printing on cloth, mostly cotton. Derived from the Persian language meaning ‘drawing or crafting with pen’, Kalamkari is an ancient form of painting that developed in India over a period of 3,000 years. Kalahasti and Machilipatnam in Andhra Pradesh, the nerve centres of this art continue to be beehives of Kalamkari activity.”
“Kalamkari painting is a type of Indian folk textile art that involves free hand drawing and painting or printing on cloth, mostly cotton. Derived from the Persian language meaning ‘drawing or crafting with pen’, Kalamkari is an ancient form of painting that developed in India over a period of 3,000 years. Kalahasti and Machilipatnam in Andhra Pradesh, the nerve centres of this art continue to be beehives of Kalamkari activity.”
