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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.
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Question 1 of 5
1. Question
1 pointsA negative trade balance with a large current account deficit (CAD) can have which of the following consequences for India?
- High inflation in the economy
- Pulling out of FII from the economy
- Depreciation of the domestic currency
Select the correct answer code:
Correct
Solution: c)
High CAD results in currency depreciation directly. Currency depreciation can directly feed into inflation. Thus, a high CAD fuels directly into the domestic economy. Along with fiscal deficit, it leads to high inflation in the economy.
An overall consequence is that FII and other investors will not find the domestic market worthy enough to invest and pull off from it.
Incorrect
Solution: c)
High CAD results in currency depreciation directly. Currency depreciation can directly feed into inflation. Thus, a high CAD fuels directly into the domestic economy. Along with fiscal deficit, it leads to high inflation in the economy.
An overall consequence is that FII and other investors will not find the domestic market worthy enough to invest and pull off from it.
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Question 2 of 5
2. Question
1 pointsArticle 142 of the Indian Constitution, sometimes in news is related to
Correct
Solution: b)
Article 142 “provide(s) a unique power to the Supreme Court, to do “complete justice” between the parties, i.e., where at times law or statute may not provide a remedy, the Court can extend itself to put a quietus to a dispute in a manner which would befit the facts of the case.
Incorrect
Solution: b)
Article 142 “provide(s) a unique power to the Supreme Court, to do “complete justice” between the parties, i.e., where at times law or statute may not provide a remedy, the Court can extend itself to put a quietus to a dispute in a manner which would befit the facts of the case.
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Question 3 of 5
3. Question
1 pointsConsider the following statements:
- Yellow sea separates China and Korean Peninsula.
- Sea of Japan separates Japan and China.
Which of the above statements is/are correct?
Correct
Solution: a)
Incorrect
Solution: a)
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Question 4 of 5
4. Question
1 pointsWhich of the following national and international events monitors Ozone pollution?
- Gothenburg Protocol
- Bonn Convention
- National Air Quality index
- System of Air Quality and Weather Forecasting
Select the correct answer code:
Correct
Solution: b)
The 1999 Gothenburg Protocol to Abate Acidification, Eutrophication and Ground-level Ozone is a multi-pollutant protocol designed to reduce acidification, eutrophication and ground-level ozone. The Protocol is part of the Convention on Long-Range Transboundary Air Pollution.
The Convention on Migratory Species (CMS), also known as the Bonn Convention, aims to conserve terrestrial, aquatic and avian migratory species throughout their range.
Ozone has been classified and monitored as one of the eight pollutants under National Air Quality index.
Ozone is monitored as one of the Pollutants under SAFAR (System of Air Quality and Weather Forecasting).
Incorrect
Solution: b)
The 1999 Gothenburg Protocol to Abate Acidification, Eutrophication and Ground-level Ozone is a multi-pollutant protocol designed to reduce acidification, eutrophication and ground-level ozone. The Protocol is part of the Convention on Long-Range Transboundary Air Pollution.
The Convention on Migratory Species (CMS), also known as the Bonn Convention, aims to conserve terrestrial, aquatic and avian migratory species throughout their range.
Ozone has been classified and monitored as one of the eight pollutants under National Air Quality index.
Ozone is monitored as one of the Pollutants under SAFAR (System of Air Quality and Weather Forecasting).
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Question 5 of 5
5. Question
1 pointsWhich of the following forms the part of Income from Abroad while calculating Gross National Product (GNP)?
- External Grants
- Private Remittances
- Interest on External Loans
Select the correct answer code:
Correct
Solution: d)
GNP measures the total monetary value of the output produced by a country’s residents. Therefore, any output produced by foreign residents within the country’s borders must be excluded in calculations of GNP, while any output produced by the country’s residents outside of its borders must be counted.
GNP does not include intermediary goods and services to avoid double-counting since they are already incorporated in the value of final goods and services.
The items which are counted in the segment ‘Income from Abroad’ is:
(i) Private Remittances
(ii) Interest on External Loans
(iii) External Grants
Incorrect
Solution: d)
GNP measures the total monetary value of the output produced by a country’s residents. Therefore, any output produced by foreign residents within the country’s borders must be excluded in calculations of GNP, while any output produced by the country’s residents outside of its borders must be counted.
GNP does not include intermediary goods and services to avoid double-counting since they are already incorporated in the value of final goods and services.
The items which are counted in the segment ‘Income from Abroad’ is:
(i) Private Remittances
(ii) Interest on External Loans
(iii) External Grants
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