IASbaba's Daily Static Quiz
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DAILY STATIC QUIZ will cover all the topics of Static/Core subjects – Polity, History, Geography, Economics, Environment and Science and technology.
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UPSC Static Quiz - 2020: IASbaba's Daily Static Quiz - ECONOMICS [Day 66]
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Question 1 of 10
1. Question
Consider the following statements:
- Copyright usually refers to the rights of authors in their literary and artistic works.
- Geographical Indication is a sign or a combination of signs used to distinguish the goods or services of one enterprise from another.
Which of the statements given above is/are NOT CORRECT?
Correct
Solution (b)
Copyright usually refers to the rights of authors in their literary and artistic works. In a wider sense, copyright also includes ‘related rights’: the rights of performers, producers of phonograms and broadcasting organizations.
Hence Statement 1 is correct.
A trademark is a sign or a combination of signs used to distinguish the goods or services of one enterprise from another.
Hence Statement 2 is incorrect.
Incorrect
Solution (b)
Copyright usually refers to the rights of authors in their literary and artistic works. In a wider sense, copyright also includes ‘related rights’: the rights of performers, producers of phonograms and broadcasting organizations.
Hence Statement 1 is correct.
A trademark is a sign or a combination of signs used to distinguish the goods or services of one enterprise from another.
Hence Statement 2 is incorrect.
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Question 2 of 10
2. Question
Consider the following statements:
- Industrial design is generally understood to refer to the ornamental or aesthetic aspect of an article rather than its technical features.
- Under the TRIPS Agreement, original or new industrial designs must be protected for at least ten years.
Which of the statements given above is/are correct?
Correct
Solution (c)
Industrial design is generally understood to refer to the ornamental or aesthetic aspect of an article rather than its technical features.
Hence Statement 1 is correct.
Under the TRIPS Agreement, original or new industrial designs must be protected for at least ten years. Owners of protected designs must be able to prevent the manufacture, sale or importation of articles bearing or embodying a design which is a copy or substantially a copy of the protected design for commercial purposes.
Hence Statement 2 is correct.
Incorrect
Solution (c)
Industrial design is generally understood to refer to the ornamental or aesthetic aspect of an article rather than its technical features.
Hence Statement 1 is correct.
Under the TRIPS Agreement, original or new industrial designs must be protected for at least ten years. Owners of protected designs must be able to prevent the manufacture, sale or importation of articles bearing or embodying a design which is a copy or substantially a copy of the protected design for commercial purposes.
Hence Statement 2 is correct.
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Question 3 of 10
3. Question
Consider the following statements regarding Asian Development Bank (ADB):
- All the members of ADB belong to Asia and Pacific region.
- ADB assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
Which of the statements given above is/are correct?
Correct
Solution (b)
From 31 members at its establishment in 1966, ADB has grown to encompass 68 members—of which 49 are from within Asia and the Pacific and 19 outside.
Hence Statement 1 is incorrect.
ADB assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
Hence Statement 2 is correct.
Incorrect
Solution (b)
From 31 members at its establishment in 1966, ADB has grown to encompass 68 members—of which 49 are from within Asia and the Pacific and 19 outside.
Hence Statement 1 is incorrect.
ADB assists its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
Hence Statement 2 is correct.
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Question 4 of 10
4. Question
Consider the following statements regarding Asian Infrastructure Investment Bank (AIIB):
- AIIB Board of Governors consists of one Governor and one Alternate Governor appointed by each member country.
- Membership in AIIB is open to members of the International Bank for Reconstruction and Development or the Asian Development Bank.
Which of the statements given above is/are correct?
Correct
Solution (c)
AIIB Board of Governors consists of one Governor and one Alternate Governor appointed by each member country.
AIIB is headquartered in Beijing, China.
Hence Statement 1 is correct.
Membership in AIIB is open to members of the International Bank for Reconstruction and Development or the Asian Development Bank.
Hence Statement 2 is correct.
Incorrect
Solution (c)
AIIB Board of Governors consists of one Governor and one Alternate Governor appointed by each member country.
AIIB is headquartered in Beijing, China.
Hence Statement 1 is correct.
Membership in AIIB is open to members of the International Bank for Reconstruction and Development or the Asian Development Bank.
Hence Statement 2 is correct.
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Question 5 of 10
5. Question
Consider the following statements regarding African Development Bank (AfDB) Group:
- The AfDB’s primary objective is to assist African and Asian countries in their efforts to achieve economic development and social progress.
- AfDB is one of the five multilateral development banks in the world.
Which of the statements given above is/are correct?
Correct
Solution (b)
The AfDB’s primary objective is to assist African countries – individually and collectively – in their efforts to achieve economic development and social progress.
Hence Statement 1 is incorrect.
Like the World Bank, the AfDB is one of the five multilateral development banks in the world.
Hence Statement 2 is correct.
Incorrect
Solution (b)
The AfDB’s primary objective is to assist African countries – individually and collectively – in their efforts to achieve economic development and social progress.
Hence Statement 1 is incorrect.
Like the World Bank, the AfDB is one of the five multilateral development banks in the world.
Hence Statement 2 is correct.
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Question 6 of 10
6. Question
Consider the following statements with reference to the Special Drawing Rights of IMF:
- SDRs are a reserve currency of IMF and is allocated to member countries in proportion to their IMF quotas
- If a country’s SDR holding is above its allocation it earns interest on the excess holdings from IMF
Which of the above statements is/are correct?
Correct
Solution (b)
The SDR is an international reserve asset, created by the IMF and is allocated to member countries in proportion to their IMF quotas
Hence Statement 1 is incorrect
If a country’s SDR holding is above its allocation it earns interest on the excess holdings from IMF.
Hence Statement 2 is correct
Incorrect
Solution (b)
The SDR is an international reserve asset, created by the IMF and is allocated to member countries in proportion to their IMF quotas
Hence Statement 1 is incorrect
If a country’s SDR holding is above its allocation it earns interest on the excess holdings from IMF.
Hence Statement 2 is correct
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Question 7 of 10
7. Question
Which among the following is/are matched correctly?
- World Development Report – World Bank Group
- Global Financial Stability Report – IMF
- World Investment Report – UNCTAD
- Global Competitiveness Report – World Economic Forum
Select the correct answer using the codes given below:
Correct
Solution (d)
- World Development Report – IBRD (World Bank)
- Global Financial Stability Report – IMF
- World Investment Report – UNCTAD
- Global Competitiveness Report – World Economic Forum
Incorrect
Solution (d)
- World Development Report – IBRD (World Bank)
- Global Financial Stability Report – IMF
- World Investment Report – UNCTAD
- Global Competitiveness Report – World Economic Forum
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Question 8 of 10
8. Question
SARTTAC (South Asia Training and Technical Assistance Centre) is a collaborative venture between the member countries and which among the following organisation?
Correct
Solution (b)
SARTTAC is a collaborative venture between the IMF, the member countries (Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka), and development partners.
The center’s strategic goal is to help its member countries strengthen their institutional and human capacity to design and implement macroeconomic and financial policies that promote growth and reduce poverty.
Incorrect
Solution (b)
SARTTAC is a collaborative venture between the IMF, the member countries (Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka), and development partners.
The center’s strategic goal is to help its member countries strengthen their institutional and human capacity to design and implement macroeconomic and financial policies that promote growth and reduce poverty.
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Question 9 of 10
9. Question
With reference to Multidimensional Poverty Index, consider the following statements:
- MPI was developed by World Bank in collaboration with OECD.
- The MPI can help in the effective allocation of resources and implement some SDGs strategically.
- It complements monetary measures of poverty by considering deprivations in access to water, sanitation, and electricity.
Which of the statements given above is/are correct?
Correct
Solution (c)
Multidimensional Poverty Index was developed by UNDP and Oxford Poverty & Human Development Initiative (OPHI).
Hence Statement 1 is incorrect
The MPI can help in the effective allocation of resources and implement some SDGs strategically.
Hence Statement 2 is correct
It complements monetary measures of poverty by considering deprivations in access to water, sanitation, and electricity.
Hence Statement 3 is correct
Incorrect
Solution (c)
Multidimensional Poverty Index was developed by UNDP and Oxford Poverty & Human Development Initiative (OPHI).
Hence Statement 1 is incorrect
The MPI can help in the effective allocation of resources and implement some SDGs strategically.
Hence Statement 2 is correct
It complements monetary measures of poverty by considering deprivations in access to water, sanitation, and electricity.
Hence Statement 3 is correct
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Question 10 of 10
10. Question
Bretton Woods Conference is one of the most historic event post Second World War. In this regard which of the following statements is/are is correct?
Correct
Solution (d)
The conference referred to in statement a is Bretton Woods Conference and it lead to World Bank and IMF coming to place.
WTO is not part of UN set up and is independent. However both share an agreement between each other.
IMF follow weighted voting and the members with higher quota get a higher voice.
Hence Statement d is correct
Incorrect
Solution (d)
The conference referred to in statement a is Bretton Woods Conference and it lead to World Bank and IMF coming to place.
WTO is not part of UN set up and is independent. However both share an agreement between each other.
IMF follow weighted voting and the members with higher quota get a higher voice.
Hence Statement d is correct
