IASbaba’s 60 Day Plan- Prelims Test 2018 ECONOMICS & CURRENT AFFAIRS [Day 40]

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Hello Friends, 

Welcome to Day-40.

Importance of Self – Tracking: Learning from Last Year

Last year, aspirants used to comment their answers in the comment box on daily basis. There were huge participation in discussion. Putting answers in comment box has been very effective to self-track yourself after updating the score. In the end, you can cross check your performance through Disqus profile.

It was highly effective in the last edition of 60 Days that propelled aspirants to monitor their performance and learn through discussion. Let you solve these questions with full honesty and write your result in the comment box. Interact with peers to know your mistakes.

The importance of this initiative stands time-bound and aggressive reverse engineering to learn the concepts. Many of you must be busy with your own strategy but let us tell you honestly that in the last two months, it is very important to revise and consolidate your learning. Just reading won’t suffice.

So, take out few hours from your schedule and make it a revision exercise.

How can you make the best use of it?

Be honest to your effort and do not start competing with XYZ aspirants here just for the sake of marks. It is more important for you to introspect and check your learning than focusing on others. Try to answer the questions in 20 minutes only. 

Do not get into negative feeling that I don’t have enough knowledge to answer these questions. Feel like you are taking the real exam. What would be your response then?

The same will be replicated in UPSC exam. Here, you get marks only and nothing else matters. So, make effort to know the answers to all questions. Do not cheat 😛

DETAILED MICRO ANALYSIS MATRIX SAMPLE– is given here. You can download this and do an assessment for yourself.  DOWNLOAD

• You can copy paste the same format/modify as per your need in Google Spreadsheet and update it on daily basis.
• Feedback talks about daily test results.
• Follow-up talks about daily target achieved from sources and the number of revisions to do/done and dates. Sources column is to ensure that aspirants do not run behind various sources and follow the same throughout.

Are you ready? Let’s start!

[Day 40]: ECONOMICS AND CURRENT AFFAIRS

Q.1) Consider the following countries:

1. Seychelles
2. India
3. Madagascar
4. Maldives
5. Comoros
6. Srilanka
7. Mauritius

Which of the countries are members of Indian Ocean Commission (IOC)?

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

Q.2) Consider the following statements regarding India-UN Development Partnership Fund:

1. It is a dedicated facility within United Nations Fund for North-South Cooperation
2. It supports transformational sustainable development projects across the developing world and Small Island developing states.

Which of the above statements is/are correct?

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

Q.3) Which of the following are the ‘new issues’, which developed countries wants to discuss in WTO?

1. E-commerce
2. Competition laws
3. Environment
4. Export subsidies.

Select the correct answer using the codes given below.

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

Q.4) The theme of 2017’s summit was ‘shaping an interconnected world’. Which of the following organization’s theme is this?

1. World Economic Forum
2. G-20
3. World Entrepreneurship Summit
4. ASEAN

Q.5) Which of the following is not the member of the SASEC?

1. India
2. Bangladesh
3. Myanmar
4. Thailand

Q.6) Consider the following statements about Global Foreign Exchange Committee (GFXC).

1. It is a forum for the promotion of a robust and transparent forex market.
2. It has been established under the aegis of IMF.
3. The committee comprises of both public and private sector representatives.

Which of the above statements is/are correct?

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

Q.7) Consider the following pairs.

Which of the above pairs is/are correctly matched?

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

Q.8) The Asian Development Bank was established following the recommendations of the United Nations Economic and Social Commission for Asia and Pacific. Which of the following statements regarding ADB are correct?

1. It provides financial assistance and loans only to developing countries of Asia.
2. India is a founding member of ADB
3. ADB provides loans only to Environment friendly infrastructure in developing countries.

Select the code from following:

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

Q.9) The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. FSB has been established by

1. World Bank
2. IMF
3. World Economic Forum
4. G 20

Q.10) Which of the following statements regarding Organisation of Petroleum Exporting Countries (OPEC) are correct?

1. Venezuela is the only South American country which is part of OPEC.
2. The headquarters of OPEC is in Jeddah, Saudi Arabia
3. OPEC publishes the “World Oil Outlook” (WOO) annually, in which it presents a comprehensive analysis of the global oil industry including medium- and long-term projections for supply and demand.

Select the code from following:

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

Q.11) The three boxes of World Trade Organisation comes under its Agreement on Agriculture. These boxes denote different kind of domestic subsidies provided in a country. Which of the following statements are correct regarding Amber box subsidy?

1. It contains domestic support measures which are considered to distort production and trade.
2. 5 % of agricultural production for developed countries, 10 % for developing countries of such subsidy is allowed.

Select the code from following:

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

Q.12) The Multilateral Investment Guarantee Agency (MIGA) is an international financial institution which offers political risk insurance and credit enhancement guarantees. MIGA provides insurance to cover which of the five types of Non – Commercial risks?

1. Currency inconvertibility
2. War, terrorism and civil disturbance
3. Breaches of Contract
4. Government Expropriation

Select the code from following:

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

Q.13) The International Development Association (IDA) is the part of the World Bank that helps the world’s poorest countries. Which of the following statements regarding IDA is/are correct?

1. IDA aims to reduce poverty by providing loans (called “credits”) and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.
2. IDA credits have a zero or very low interest charge and repayments are stretched upto 100 years, including a 5- to 10-year grace period.

Select the code from following:

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

Q.14) Voting power in the IMF is based on a quota system. Which of the following regarding Voting rights is/are correct?

1. Each member has a number of basic votes, plus one additional vote for each Special Drawing Right (SDR) of 100,000 of a member country’s quota.
2. Quota of a country in IMF is decided by the size of the economy and its importance.

Select the code from below:

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

Q.15) With regard to OPEC, consider the following statements

1. Vienna is the Headquarters of OPEC
2. Iran is not a part of OPEC
3. OPEC members include countries from Middle East, Africa and South America

Select the correct answer from the codes given below

1. 2 only
2. None
3. 1 and 3 only
4. 1, 2 and 3

Q.16) Consider the following statements regarding ‘New Development Bank’:

1. It is a multilateral development bank established by the BRICS countries.
2. The Bank shall support public or private projects through loans, guarantees, equity participation and other financial instruments.
3. All members of the United Nations could be members of the bank, however the share of the BRICS nations can never be less than 55% of voting power.

Which of the above statements are correct?

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

Q.17) Consider the below statements:

1. State entities can directly access funds from official lenders like ADB for financing infrastructure projects.
2. State entities can borrow funds from Official Development Assistance (ODA) for financing infrastructure projects.   

Which of the statements given above is/are true?

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

Q.18) With reference to Asia Pacific Trade Agreement (APTA), consider the following statements:

1. APTA is a preferential trade agreement between six developing countries of Asia including China and Korea.
2. APTA is an initiative by the UN Economic and Social Commission for Asia and the Pacific.

Which of the statements given above is/are not true about APTA?

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

Q.19) A latin phrase “res extra commercium” has been in news recently. If applied it will impact which of the following?

1. Trade rights of a company
2. Right to freedom of movement
3. Right to residence
4. Subsidiary holding rights of a company

Q.20) Consider the following statements:

1. India was among the original members of the IMF when it started functioning in 1946.
2. Extended Fund Facility (EFF) is a service provided by the IMF to its member countries.
3. India had signed this agreement with the IMF in the financial year 1991–92.

Which of the statements given above is/are correct?

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

Q.21) Bangkok Agreement, which was signed in 1975 as an initiative of ESCAP, has been rechristened as –

1. ASEAN Free Trade Area (AFTA)
2. Raisina Dialogue
3. Fortaleza Declaration
4. Asia-Pacific Trade Agreement (APTA)

Q.22) Consider the following statements

1. Ministry of Social Justice and Empowerment is the nodal ministry on Drug Demand Reduction
2. National Survey on Extent and Pattern of Substance Use is conducted by NITI Aayog

Select the correct statements

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

Q.23) Consider the following statements

1. ‘Sanitease’ has been launched by the Ministry of Youth Affairs and Sports
2. Stree Swabhiman aims to create a sustainable model for providing adolescent girls and women access to affordable sanitary products by leveraging CSCs
3. Under the ‘Stree Swabhiman’ project, sanitary napkin micro manufacturing units are being set up at CSCs across India, particularly those operated by women entrepreneurs.

Select the correct statements

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

Q.24) Recently ‘Global Centre for Cybersecurity’ was announced to safeguard the world from hackers and growing data by

1. International Telecommunication Union
2. World Economic Forum
3. World Bank
4. None of the above

Q.25) Inclusive Development Index (IDI) is published by

1. UNDP
2. World Bank
3. World Economic Forum
4. None of the above

Q.26) Consider the following statements about ‘office of profit’

1. The origin of this term can be found in the English Act of Settlement, 1701.
2. If an MLA or an MP holds a government office and receives benefits from it, then that office is termed as an “office of profit”
3. The word ‘office’ has not been defined in the Constitution, but is defined in the Representation of the People Act of 1951.

Select the correct code:

1. 1 and 2
2. 2 Only
3. 2 and 3
4. 1, 2 and 3

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