[Mission 2023] QUED ( Questions from Editorials ) 27 August 2022

Solution: c)

Revenue Expenditure

Revenue Expenditure is expenditure incurred for purposes other than the creation of physical or financial assets of the central government. It relates to those expenses incurred for the normal functioning of the government departments and various services, interest payments on debt incurred by the government, and grants given to state governments and other parties (even though some of the grants may be meant for creation of assets).

Solution: b)

The moon orbits the Earth once every 27.322 days. It also takes approximately 27 days for the moon to rotate once on its axis. As a result, the moon does not seem to be spinning but appears to observers from Earth to be keeping almost perfectly still.

Solution: d)

Statement 2:  The real exchange rate is often taken as a measure of a country’s international competitiveness as it takes into account purchasing power at both nations.

The real exchange rates are nothing but the nominal exchange rates multiplied by the price indices of the two countries.

This means the market price level of goods and services, given by indices of inflation. So if the price level in the US is higher than the price level in India, then the real exchange rate of the rupee versus the dollar will be greater than the nominal exchange rate.

Suppose the nominal exchange rate is Rs 50 and US prices are greater than Indian prices, a dollar will buy more in India than what Rs 50 will buy in the US.

Statement 1: Just like NER, RER too is subject to devaluations and depreciation. RER is only a mathematical adjustment of NER. If NER is volatile, RER too will be volatile. So, 1 is incorrect.

Solution: c)

A biomarker may be used to see how well the body responds to a treatment for a disease or condition. Also called molecular marker and signature molecule.

It can also be a substance whose detection indicates a particular disease state, for example, the presence of an antibody may indicate an infection. More specifically, a biomarker indicates a change in expression or state of a protein that correlates with the risk or progression of a disease, or with the susceptibility of the disease to a given treatment.

Solution: d)

Democracy is of two types—direct and indirect. In direct democracy, the people exercise their supreme power directly as is the case in Switzerland.

There are four devices of direct democracy, namely, Referendum, Initiative, Recall and Plebiscite. In indirect democracy, on the other hand, the representatives elected by the people exercise the supreme power and thus carry on the government and make the laws. This type of democracy, also known as representative democracy, is of two kinds—parliamentary and presidential.