[Mission 2023] Current Affairs Quiz ,26 December 2022

Solution: d)

Consumer Protection Act, 2019 is an Act of the Parliament of India. It repeals and replaces the Consumer Protection Act, 1986. Rights guaranteed under Consumer Protection Act, 2019:

1. Right to safety
2. Right to choose
3. Right to be informed
4. Right to consumer education
5. Right to be heard
6. Right to Seek redressal

Solution: c)

Keki Mistry-headed committee was set up by Sebi to review the share buyback regulations.

Source

Solution: b)

A bomb cyclone is simply a storm that intensifies very rapidly. Bomb cyclones form when air near Earth’s surface rises quickly in the atmosphere, triggering a sudden drop in barometric pressure.

All bomb cyclones are not hurricanes. But sometimes, they can take on characteristics that make them look an awful lot like hurricanes, with very strong winds, heavy precipitation and well-defined eye-like features in the middle.

Hurricanes tend to form in tropical areas and are powered by warm seas. For this reason, they’re most common in summer or early fall, when seawater is warmest.

In contrast, bomb cyclones don’t need balmy ocean waters in order to form. While they sometimes arise over the ocean, they can also appear over land — as was the case with the cyclone that hit the northern Plains in March 2019.

Unlike hurricanes, bomb cyclones arise in mid-latitudes, where fronts of warm and cold air might collide. They rarely strike in summer, when the weather is generally warm across the Northern Hemisphere. Rather, they form between late fall and early spring, when warm tropical air bumps up against frigid Arctic air.

Source

Solution: a)

A recession typically involves the overall output in an economy contracting for at least two consecutive quarters, along with job losses and reduction in overall demand.

What is the yield curve?

Governments borrow for durations ranging from 1 month to 30 years. Typically, yields are higher for longer tenures because one is lending money for longer. If the yields for different tenures of bonds are mapped, it will give an upward-sloping curve.

The curves can be flat or steep depending on the money available in the market and the expected overall economic activity. When investors feel buoyant about the economy, they pull money out of long-term bonds and put it into short-term riskier assets such as stock markets. As prices of long-term bonds fall, their yields rise — and the yield curve steepens.

What is yield inversion?

Yield inversion happens when yields for shorter duration bonds are higher than the yields on longer duration bonds. If investors suspect that the economy is heading for trouble, they will pull out money from short-term risky assets (such as stock markets) and put it in long-term bonds. This causes the prices of the long-term bonds to rise and their yields to fall.

This process first leads to flattening and eventually the inversion of the yield curve.

Yield inversion has long been a reliable predictor of recession in the US — and US treasuries have been witnessing yield inversion for a while now.

Source

Solution: b)

Live-attenuated Vaccines:

• Live vaccines use a weakened (or attenuated) form of the germ that causes a disease.
• Because these vaccines are so similar to the natural infection that they help prevent, they create a strong and long-lasting immune response.
• The limitation of this approach is that these vaccines usually cannot be given to people with weakened immune systems.

●     Live vaccines are used against: Measles, Mumps, Rubella (MMR combined vaccine), Rotavirus, Smallpox among others.