Editorials Quiz 2021-22
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Introducing yet another ingenious course, InsightsIAS is excited to announce our new initiative QUED – Questions from Editorials. Considering the number of questions that appeared from Editorials in previous year UPSC Prelims Examinations, we feel it is wise for students to cover Editorials from Prelims point of view as well in order to achieve that extra edge. Although, we have covered important editorials separately in our Editorial Section as well as under Secure Initiative, MCQ practice can prove to be crucial for better performance and guaranteed result.
We strongly recommend you at add QUED along with Static Quiz ,Current Affairs Quiz and RTM for your Daily MCQ practice.
We will be posting 5 MCQs at 11am everyday from Monday to Saturday on http://www.insightsonindia.com. QUED will be available under QUIZ menu.
We hope students utilize this initiative to the best of advantage. 🙂
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Question 1 of 5
1. Question
In the last few years, the Indian Supreme Court has delivered some judgments of far-reaching consequence. It includes
- Declared the right to privacy a fundamental right
- Criminalised consensual sexual conduct between adults of the same sex
- Recognised transgender persons as the third gender
Select the correct answer code:
Correct
Solution: c)
In the last few years, the Indian Supreme Court has delivered some judgments of far-reaching consequence.
It declared the right to privacy a fundamental right; decriminalised consensual sexual conduct between adults of the same sex; recognised transgender persons as the third gender; and outlawed triple talaq.
Incorrect
Solution: c)
In the last few years, the Indian Supreme Court has delivered some judgments of far-reaching consequence.
It declared the right to privacy a fundamental right; decriminalised consensual sexual conduct between adults of the same sex; recognised transgender persons as the third gender; and outlawed triple talaq.
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Question 2 of 5
2. Question
Consider the following statements regarding Formalisation of economy.
- Formalisation of the economy means bringing companies under the regulatory regime of government and subject to laws related to manufacturing and income tax.
- It leads to more tax revenueswith an increase in tax-to-GDP ratio.
- It establishes rule of law and provide benefits of labour laws to entrepreneurs and workers.
Which of the above statements is/are correct?
Correct
Solution: d)
- Formalisation of the economy means bringing companies under the regulatory regime of government and subject to laws related to manufacturing and income tax.
- Formalisation leads to more tax revenues with an increase in tax-to-GDP ratio.
- Formalisation provides a level-playing field for tax-compliant entities, expanding the tax base so that the burden falls more equitably on all the players rather than a select few.
- Transitioning economy towards formality brings benefits by establishing the rule of law and provide benefits of labour laws to entrepreneurs and workers.
- It enforces minimum wages and proper documentation of benefits by the employer. Formal jobs also end up ensuring the dignity of labour; enable productivity improvements, as well as access to formal training.
Incorrect
Solution: d)
- Formalisation of the economy means bringing companies under the regulatory regime of government and subject to laws related to manufacturing and income tax.
- Formalisation leads to more tax revenues with an increase in tax-to-GDP ratio.
- Formalisation provides a level-playing field for tax-compliant entities, expanding the tax base so that the burden falls more equitably on all the players rather than a select few.
- Transitioning economy towards formality brings benefits by establishing the rule of law and provide benefits of labour laws to entrepreneurs and workers.
- It enforces minimum wages and proper documentation of benefits by the employer. Formal jobs also end up ensuring the dignity of labour; enable productivity improvements, as well as access to formal training.
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Question 3 of 5
3. Question
Consider the following statements regarding Non-fungible tokens (NFTs).
- Non-fungible tokens are cryptographic assets on a blockchain with unique identification codes that distinguish them from each other.
- They are similar to tokens like cryptocurrencies.
- NFTs can be used to represent individuals’ identities and property rights.
Which of the above statements is/are correct?
Correct
Solution: b)
Virtual Digital Assets also include Non-fungible tokens or NFTs, which are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other.
NFTs can also be used to represent individuals’ identities, property rights, and more.
This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.
Incorrect
Solution: b)
Virtual Digital Assets also include Non-fungible tokens or NFTs, which are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other.
NFTs can also be used to represent individuals’ identities, property rights, and more.
This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.
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Question 4 of 5
4. Question
Consider the following statements.
- A mismatch between demand and supply can lead to inflation.
- Even if the price of one good has gone up, it is considered as inflation.
- The price rise which is the result of increase in the production cost is known as cost-push inflation.
Which of the above statements is/are correct?
Correct
Solution: a)
A rise in the general level of prices is inflation. If the price of one good has gone up, it is not inflation; it is inflation only if the prices of most goods have gone up.
A mis-match between demand and supply pulls up prices. Either the demand increases over the same level of supply, or the supply decreases with the same level of demand and thus the situation of demand-pull inflation arise.
An increase in factor input costs (i.e., wages and raw materials) pushes up prices. The price rise which is the result of increase in the production cost is cost-push inflation.
Incorrect
Solution: a)
A rise in the general level of prices is inflation. If the price of one good has gone up, it is not inflation; it is inflation only if the prices of most goods have gone up.
A mis-match between demand and supply pulls up prices. Either the demand increases over the same level of supply, or the supply decreases with the same level of demand and thus the situation of demand-pull inflation arise.
An increase in factor input costs (i.e., wages and raw materials) pushes up prices. The price rise which is the result of increase in the production cost is cost-push inflation.
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Question 5 of 5
5. Question
Which of the following rivers of Africa drains into the Mediterranean Sea?
Correct
Solution: d)
The Nile River empties into the Mediterranean Sea in northern Egypt.
Incorrect
Solution: d)
The Nile River empties into the Mediterranean Sea in northern Egypt.
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