[Mission 2023] Current Affairs Quiz ,19 November 2022

Solution: b)

When air is heated in an automobile engine, nitrogen oxides (NOx) are produced — these include nitrogen dioxide (NO2) which is toxic; nitrous oxide (N2O), which is a greenhouse gas; and nitric oxide (NO), which reacts with oxygen to form the harmful NO2. Nitric oxide on its own also increases the risk of respiratory problems in the long run.

In a petrol engine, a three-way catalytic converter reduces these emissions, ensuring that the NOx emissions are about 30 per cent lower than they would be in a diesel engine on average.

While modern diesel cars are fitted with particulate filters that take care of NOx emissions (reducing them by 90%, according to some estimates), diesel engines also emit fine particulate matter (PM) in their tailpipe emissions. This is essentially soot, the finest particles of which can be embedded deep in the lungs, and they can cause heart and respiratory problems in the longer term. PM has also been linked to cancer.

Source

Solution: c)

NDCs are the pledges that each country makes to reduce its emissions and adapt to climate change from 2020 onward. Countries have to update and expand their NDCs every five years. 

The principle of “common but differentiated responsibilities” (CBDR), was enshrined in the Kyoto accord. It says that developed countries, which produced more emissions in the past as they built their economies, should take the lead in fighting climate change.

Source

Solution: c)

The currency deposit ratio (cdr) is the ratio of money held by the public in currency to that they hold in bank deposits. cdr = CU/DD. If a person gets Re 1 she will put Rs 1/(1 + cdr) in her bank account and keep Rs cdr/(1 + cdr) in cash. It reflects people’s preference for liquidity. It is a purely behavioural parameter which depends, among other things, on the seasonal pattern of expenditure. For example, cdr increases during the festive season as people convert deposits to cash balance for meeting extra expenditure during such periods.

Solution: b)

United Nations Convention on International Settlement Agreements Resulting from Mediation:

The United Nations General Assembly adopted the Convention on 20th December 2018 and it was opened for signature on 7th August 2019 in Singapore.

It is also known as the Singapore Convention on Mediation and also the first UN treaty to be named after Singapore.

Key Features of the Convention:

• Applicability: The Convention will apply to international commercial settlement agreements resulting from mediation.
• Non- applicability: It will not apply to international settlement agreements that are concluded in the course of judicial or arbitral proceedings and which are enforceable as a court judgment or arbitral award. It will also not apply to settlement agreements concluded for personal, family or household purposes by one of the parties (a consumer), as well as settlement agreements relating to family, inheritance or employment law.

Solution: b)

 Preferential trade arrangements (PTAs)

This is the term used in the WTO for trade preferences, such as lower or zero tariffs, which a member may offer to a trade partner unilaterally. These include the Generalized System of Preferences schemes, under which developed countries grant preferential tariffs to imports from developing countries.

Within the broad category of PTAs, one can distinguish five forms

1. Partial Scope Agreement (PSA): A PSA is only partial in scope, meaning it allows for trade between countries on a small number of goods.
2. Free Trade Agreement (FTA): A free trade agreement is a preferential arrangement in which members reduce tariffs on trade among themselves, while maintaining their own tariff rates for trade with non-members.
3. Customs Union : A customs union  is a free-trade agreement in which members apply a common external tariff (CET) schedule to imports from non-members.
4. Common Market : A common market is a customs union where movement of factors of production is relatively free amongst member countries.