[Mission 2023] QUIZ : Insights Current Affairs Quiz , 3 August 2022

Solution: c)

Overall, between 1993-94 and 2018-19, agriculture’s share in India’s workforce came down from 61.9% to 41.4%.

Even the movement of workforce from agriculture that India has witnessed over the past three decades or more does not qualify as what economists call “structural transformation”. Such transformation would involve the transfer of labour from farming to sectors – particularly manufacturing and modern services – where productivity, value-addition and average incomes are higher.

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Solution: d)

India does not have formal diplomatic ties with Taiwan yet.

While following the One-China policy, India has an office in Taipei for diplomatic functions — India-Taipei Association (ITA) is headed by a senior diplomat. Taiwan has the Taipei Economic and Cultural Center (TECC) in New Delhi. Both were established in 1995.

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Solution: c)

Inflation is closely related to interest rates, which can influence exchange rates. Countries attempt to balance interest rates and inflation, but the interrelationship between the two is complex and often difficult to manage. Low interest rates spur consumer spending and economic growth, and generally positive influences on currency value. If consumer spending increases to the point where demand exceeds supply, inflation may ensue, which is not necessarily a bad outcome. But low interest rates do not commonly attract foreign investment. Higher interest rates tend to attract foreign investment, which is likely to increase the demand for a country’s currency.

Solution: c)

The US military used its ‘secret weapon’ — the Hellfire R9X missile – to kill Al Qaeda chief Ayman al-Zawahiri on the balcony of a safehouse in Kabul on July 31.

Better known in military circles as the AGM-114 R9X, the Hellfire R9X is a US-origin missile known to cause minimum collateral damage while engaging individual targets.

Also known as the ‘Ninja Missile’, this weapon does not carry a warhead and instead deploys razor-sharp blades at the terminal stage of its attack trajectory. This helps it to break through even thick steel sheets and cut down the target using the kinetic energy of its propulsion without causing any damage to the persons in the general vicinity or to the structure of the building.

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Solution: a)

National Income is defined as the total monetary value of all goods and services produced within a country during a given period of time. Gains on sale of land will not be included in the estimation of National Income. Capital gains will not be included in the national income as they do not add to the current flow of goods and services in the economy.