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
Consider the following statements regarding DeFi (Decentralised Finance).
- DeFi is an umbrella term for financial services on public blockchains.
- With DeFi, one can do most of the things that banks support like earn interest, borrow, lend, buy insurance, trade derivatives and assets.
- It is faster and does not require any third party.
Which of the above statements is/are correct?
Correct
Solution: d)
DeFi (or “decentralized finance”) is “an umbrella term for financial services on public blockchains. With DeFi, one can do most of the things that banks support — earn interest, borrow, lend, buy insurance, trade derivatives, trade assets, and more — but it is faster and does not require paperwork or a third party.
Incorrect
Solution: d)
DeFi (or “decentralized finance”) is “an umbrella term for financial services on public blockchains. With DeFi, one can do most of the things that banks support — earn interest, borrow, lend, buy insurance, trade derivatives, trade assets, and more — but it is faster and does not require paperwork or a third party.
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Question 2 of 5
2. Question
Consider the following statements.
- The Supreme Court was created under the Constitution, and is a relatively new court than some of the High Courts in India.
- Supreme Court is superior to the High Court and a High Court judge is subordinate of a Supreme Court judge.
- The High Courts can provide remedies in all cases arising under the constitutional law, the civil law and the criminal law.
Which of the above statements is/are correct?
Correct
Solution: c)
The High Courts and the Supreme Court form one single integrated judiciary having jurisdiction and providing remedies in all cases arising under the constitutional law, the civil law or the criminal law.
The Supreme Court was created under the Constitution, and is a relatively new court. On the other hand, some of the High Courts in our country have been in existence since the 1860s.
The Indian Constitution envisaged the equality of power of High Court judges and Supreme Court judges, with a High Court judge not being a subordinate of a Supreme Court judge.
The Supreme Court has, on many occasions, reiterated the position that the Supreme Court is superior to the High Court only in the appellate sense.
Incorrect
Solution: c)
The High Courts and the Supreme Court form one single integrated judiciary having jurisdiction and providing remedies in all cases arising under the constitutional law, the civil law or the criminal law.
The Supreme Court was created under the Constitution, and is a relatively new court. On the other hand, some of the High Courts in our country have been in existence since the 1860s.
The Indian Constitution envisaged the equality of power of High Court judges and Supreme Court judges, with a High Court judge not being a subordinate of a Supreme Court judge.
The Supreme Court has, on many occasions, reiterated the position that the Supreme Court is superior to the High Court only in the appellate sense.
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Question 3 of 5
3. Question
Which of the following are components for calculation of Gross National Product (GNP)?
- Personal consumption expenditures
- Government expenditure
- Net exports
- Private domestic investment
Select the correct answer code:
Correct
Solution: d)
Gross national product (GNP) is an estimate of total value of all the final products and services turned out in a given period by the means of production owned by a country’s residents. GNP is commonly calculated by taking the sum of personal consumption expenditures, private domestic investment, government expenditure, net exports and any income earned by residents from overseas investments, minus income earned within the domestic economy by foreign residents. Net exports represent the difference between what a country exports minus any imports of goods and services.
Incorrect
Solution: d)
Gross national product (GNP) is an estimate of total value of all the final products and services turned out in a given period by the means of production owned by a country’s residents. GNP is commonly calculated by taking the sum of personal consumption expenditures, private domestic investment, government expenditure, net exports and any income earned by residents from overseas investments, minus income earned within the domestic economy by foreign residents. Net exports represent the difference between what a country exports minus any imports of goods and services.
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Question 4 of 5
4. Question
Consider the following statements regarding Cryptocurrency.
- Cryptocurrency consists of a digital denomination designed to work as a medium of exchange through a blockchain.
- Cryptocurrency needs a central authority such as a government or a bank for its maintenance.
Which of the above statements is/are correct?
Correct
Solution: a)
Cryptocurrency (crypto) consists of a digital denomination designed to work as a medium of exchange through a distributed computer network (a blockchain) that is not reliant on any central authority such as a government or a bank for its upholding and maintenance.
Incorrect
Solution: a)
Cryptocurrency (crypto) consists of a digital denomination designed to work as a medium of exchange through a distributed computer network (a blockchain) that is not reliant on any central authority such as a government or a bank for its upholding and maintenance.
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Question 5 of 5
5. Question
Which of the following South-East Asian countries are not land locked?
- Thailand
- Cambodia
- Laos
- Vietnam
Select the correct answer code:
Correct
Solution: b)
Incorrect
Solution: b)
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