IASbaba ’60 Day Plan- Prelims Test 2016 ECONOMIS & CURRENT AFFAIRS [DAY 57]

Hope you are enjoying Daily questions. The link for Day 56 solution is active now. 

Why we asked you to comment?

Now go back to check your answers that you posted with honest effort. Edit your answers with marks. Everyday like this you can self monitor your progress for all 60 days.

Accountability to self is the only way for success

IASbaba ’60 Day Plan’ – Prelims Test 2016 [Day 57]

Q.1) Which of the following are part of World bank group?

1. The International Bank for Reconstruction and Development
2. The International Development Association
3. The International Finance Corporation
4. The Department of International Development
5. The Multilateral Investment Guarantee Agency
6. The World Intellectual Property Organisation
7. The International Centre for Settlement of Investment Disputes

Select the correct answer.

1. 1, 3, 4, 5 and 7 only
2. 1, 2 ,3, 5 and 7 only
3. 1, 2, 4, 5 and 7 only
4. All of the above

Q.2) Consider the following about World Intellectual Property Organisation (WIPO).

1. World Intellectual Property Organisation is a member of the World Bank group.
2. WIPO was created in 1967 “to encourage creative activity, to promote the protection of intellectual property throughout the world.
3. The predecessor to WIPO was the BIRPI (Bureaux Internationaux Réunis pour la Protection de la Propriété Intellectuelle, French acronym for United International Bureaux for the Protection of Intellectual Property)
4. WIPO’s member states and stakeholders share a common goal: an efficient and accessible intellectual property system that provides benefits to all.

Select the correct answer

1. 1 and 2 only
2. 1, 2 and 4only
3. 2, 3 and 4 only
4. All of the above

Q.3) Consider the following.

1. Protectionism refers to government actions and policies that restrict or restrain international trade, often done with the intent of protecting local businesses and jobs from foreign competition.
2. Import substitution industrialization (ISI) is a theory of economics typically utilized by developing countries or emerging market nations seeking to decrease dependence on developed countries and to increase self-sufficiency.

Select the correct answer:

1. 1 only
2. 2 only
3. Both 1 and 2
4. None of the above

Q.4) Which of the following is not correctly matched w.r.t. modes of supply?

1. Mode 1 – Cross Border Supply
2. Mode 2 – service delivered within the territory of the member through presence of the supplier
3. Mode 3 – Commercial presence
4. Mode 4 – Presence of the natural person

Q.5) Consider the following about WTO.

1. With GATS the multilateral trading system includes services for the first time as its predecessor GATT didn’t include services.
2. The Anti Counterfeiting Trading Agreement is under the arrangement of WTO and establishes international standards w.r.t. IPRs.

Select the correct answer:

1. 1 only
2. 2 only
3. Both 1 and 2
4. None of the above

Q.6) Which of the following states were recently granted GI for Basmati rice?

1. Jammu and Kashmir
2. Madhya Pradesh
3. Haryana
4. Western Uttar Pradesh
5. Punjab
6. Himachal Pradesh

Select the correct answer.

1. 1, 2 ,3, 4 and 6 only
2. 2 ,3, 4, 5 and 6 only
3. 1, 3, 4, 5 and 6 only
4. 1, 2, 3, 5 and 6 only

Q.7) Consider the following.

1. The Asian Development Bank(ADB) is an Asia regional development organization dedicated to reducing poverty in Asia and the Pacific through loans, grants with headquarters in Beijing.
2. The Asian Infrastructure Investment Bank(AIIB) is an international financial institution that aims to support the building of infrastructure in the Asia-Pacific region with headquarters in Manila, Philippines.
3. The New Development Bank (NDB), formerly referred to as the BRICS Development Bank, is a multilateral development bank established by the BRICS states with head quarters in Shanghai, China.

Select the incorrect answer

1. 1 and 2 only
2. 1 and 3 only
3. 2 and 3only
4. All of the above

Q.8) Which of the following is correct?

1. The UN Monetary and Financial Conference held post Second World War established the international trading regime called General Agreement on Trade and Tariffs.
2. WTO is part of whole set up of UNO and thus is guided by the actions its member bodies.
3. IMF follow voting by consensus pattern by which each member gets to ensure their idea is considered.
4. WTO doesn’t have weighted voting as the World Bank or the IMF and goes by the system of one member one vote.

Q.9) Which of the following are correct w.r.t. Trans Pacific Partnership?

1. The Trans-Pacific Partnership(TPP) is a trade agreement among twelve Pacific Rim countries.
2. Historically, the TPP is an expansion of the Trans-Pacific Strategic Economic Partnership Agreement (TPSEP or P4) signed by Brunei, Chile, New Zealand, and Singapore in 2005.
3. The TPP contains measures to raise trade barriers, such as tariffs to rogue nations and establish an investor-state dispute settlement mechanism (but states can opt out from tobacco-related measures).
4. South Korea is not part of the TPP deal.

Select the correct answer

1. 1, 2 and 3 only
2. 1, 2 and 4 only
3. 1, 3 and 4 only
4. All of the above

Q.10) Which of the following is not correctly matched?

1. TATP – Europe and America
2. RCEP – ASEAN
3. FTTA – APEC
4. NAFTA – Eurasian Union

Q.11) Consider the following factors:

1. Declining prices of a number of commodities
2. Turbulent financial markets
3. Volatile exchange rates
4. Horizontal distribution of divisible pool among the States

Choose the correct option which signifies being a factor towards the disturbed economic landscape of the world:

1. 1, 2 and 4
2. 1, 2 and 3
3. 1 and 2 only
4. 3 and 4 only

Q.12) To which factor can the recent growth-revival of India be attributed to?

1. Fixed Capital Formation
2. Net Exports
3. Net Imports
4. Private Consumption

Q.13) What does Gross fixed capital formation refer to?

1. Difference between exports and imports of goods and non-factor services
2. Difference between private and public expenditure
3. Value of new machinery and equipment plus the value of new construction activity undertaken during the year
4. Both (a) and (b)

Q.14) The Baltic Dry Index measures—

1. The expenditure component of various sectors to the GDP
2. A freight index and an indicator of shipping services
3. The performance and contribution of the core industries in the Infrastructure of the country
4. The difference between Foreign Tourist Arrivals and Foreign Exchange Earnings by the country

Q.15) Consider the following statements:

1. The Labour Force Participation Rate (LFPR) of women is higher than that of males in rural areas but lower in urban areas.
2. The Worker Population Ratio (WPR) reflects exactly opposite pattern w.r.t the pattern exhibited by the LFPR.

Choose the correct option:

1. Only 1
2. Only 2
3. Both 1 and 2
4. None of the above

Q.16) Which of the following taxes come under Direct Tax Collections?

1. Personal Income Tax
2. Corporate Tax
3. Security Transaction Tax
4. Wealth Tax

Select the correct code:

1. All of the above
2. 1, 2 and 3 only
3. 1, 2 and 4 only
4. 1 and 2 only

Q.17) Consider the following statements with regard to India and IMF:

1. India is the founder member of the IMF and also among the top 10 members of IMF
2. India was among the first five nations having the highest quota with IMF and due to this status India was allotted a permanent place in Executive Board of Directors.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both
4. None

Q.18) Ulaanbaatar Declaration deals with

1. the 11th edition of the Asia-Europe Meeting Summit – “20 Years of ASEM: Partnership for the Future through Connectivity”
2. a prescription on how “a duty-centred system, which had been the origin of Indian philosophy of life, has become the most relevant today.”
3. 51 sacred points for betterment of mankind that will start new discourse not only in India but around the world.
4. Both (b) and (c)

Q.19) Consider the following statements:

1. UDAY or Ujwal Discom Assurance Yojna was launched to help loss-making discoms turn around financially, with support from their State governments.
2. Under the scheme, States will take over three-fourths of the debt of their respective discoms. The governments will then issue ‘UDAY bonds’ to banks and other financial institutions to raise money to pay off the banks.

Which of the statements given above is/are correct?

1. 1 only
2. 2 only
3. Both
4. None

Q.20) Which of the below statement(s) is/are correct about Minimum Alternate Tax (MAT) in India?

1. The MAT is the means through which the government makes companies that do not pay any tax cough up some money to the exchequer.
2. Only domestic companies in India, including non-corporate entities, fall under the MAT provision.

Select the correct code:

1. 1 only
2. 2 only
3. Both
4. None

Q.21) ‘Vinicius’ is the mascot for Rio Olympics 2016. Consider the following statements regarding Vinicius:

1. Vinicius is a mix of different Brazilian animals.
2. The name of the Olympic mascot pays tribute to Brazilian musician Vinicius de Moraes.

Which of the above statements are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q.22) Which of the following Indian lakes have saline water?

1. Wular
2. Chilka
3. Sambhar
4. Pangyong
5. Loktak

Select the code from below:

1. 1,2 and 3
2. 2,3 and 4
3. 3,4 and 5
4. 2 and 3

Q.23) Consider the following statements:

1. German Government has recently introduced an initiative ‘One World, no Hunger’.
2. NABARD has entered into collaboration with German Government for a special programme on ‘Soil Protection and Rehabilitation for Food Security‘.

Which of the above statements are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q.24) Consider the following statements:

1. ‘Order of the Rising Sun’ is the highest civilian award of Japan.
2. Former bureaucrat and Parliamentarian, N K Singh, has been selected for this prestigious award.

Which of the above statements are correct?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Q.25) Consider the following statements:

1. Brazilian Selvas are not included in the list of Biodiversity hotspots of the world.
2. They do not satisfy the condition of having at least 1500 species of vascular plants (>0.5% of the world’s total) as endemic.

Which of the above statements are incorrect?

1. 1 only
2. 2 only
3. Both 1 and 2
4. Neither 1 nor 2

Download the Solution- Click here

P.S- Attempt these questions within 20 minutes with full honesty and write your results in the comment box. Next day, come back and check your result. You can also discuss the important concepts and issues, in case of doubts (among peers)

All the best

IASbaba