Insights Current Affairs Quiz (2016) – 45
16 February 2016
The following quiz will have 5-10 MCQs . The questions are mainly framed from The Hindu and PIB news articles.
This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2016. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.
Please try to enjoy questions, discuss the concepts and facts they try to test from you and suggest improvements.
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INSIGHTS CURRENT EVENTS QUIZ 2016
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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.
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Question 1 of 6
1. Question
1 pointsWhich of the following statements associated with John Maynard Keynes is/are correct?
- He tried to theorise about and explain the fact that the economy may have long lasting unemployment
- He advocated that government fiscal policy should be used to stabilise the level of output and employment
Select the correct answer using the code given below:
Correct
Solution: c.
The dominant thinking in economics before Keynes was that all the labourers who are ready to work will find employment and all the factories will be working at their full capacity. This school of thought is known as the classical tradition. However, the Great Depression of 1929 and the subsequent years saw the output and employment levels in the countries of Europe and North America fall by huge amounts. The fact that the economy may have long lasting unemployment had to be theorised about and explained. Keynes’ book was an attempt in this direction. Unlike his predecessors, his approach was to examine the working of the economy in its entirety and examine the interdependence of the different sectors. The subject of macroeconomics was born.
Page 4, 66 Macroeconomics Class XII NCERT
“Yet, back on his table again this year is Keynesian advice: invest your way out of sub-8 per cent GDP growth to steer the economy to a higher trajectory.”
http://www.thehindu.com/opinion/columns/never-waste-a-crisis/article8241269.ece
Incorrect
Solution: c.
The dominant thinking in economics before Keynes was that all the labourers who are ready to work will find employment and all the factories will be working at their full capacity. This school of thought is known as the classical tradition. However, the Great Depression of 1929 and the subsequent years saw the output and employment levels in the countries of Europe and North America fall by huge amounts. The fact that the economy may have long lasting unemployment had to be theorised about and explained. Keynes’ book was an attempt in this direction. Unlike his predecessors, his approach was to examine the working of the economy in its entirety and examine the interdependence of the different sectors. The subject of macroeconomics was born.
Page 4, 66 Macroeconomics Class XII NCERT
“Yet, back on his table again this year is Keynesian advice: invest your way out of sub-8 per cent GDP growth to steer the economy to a higher trajectory.”
http://www.thehindu.com/opinion/columns/never-waste-a-crisis/article8241269.ece
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Question 2 of 6
2. Question
2 pointsThe strait of Bab-el-Mandeb connects
Correct
Solution: d.
The Horn of Africa nation is strategically located on the junction of the Indian Ocean and the Red Sea—a gateway to the Suez Canal via the strait of Bab Al-Mandab.
Incorrect
Solution: d.
The Horn of Africa nation is strategically located on the junction of the Indian Ocean and the Red Sea—a gateway to the Suez Canal via the strait of Bab Al-Mandab.
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Question 3 of 6
3. Question
1 pointsConsider the following State – Associated Folk Dance pairs:
- Arunachal Pradesh – Bro-Zai
- Assam – Bardoishikla
- Mizoram – Cheraw
- Sikkim – Hozagiri
Which of the above pairs is/are correctly matched?
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Question 4 of 6
4. Question
1 pointsConsider the following statements:
- Wholesale prices – as measured by the Wholesale Price Index – have been continuously declining for over the past year
- The continuous decline of overall merchandise exports for over the past year has been stemmed due to a sudden expansion in shipments to the United States of America
Which of the statements above is/are correct?
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Question 5 of 6
5. Question
1 pointsWhich among the following constitute Non-Tax Revenue Receipts?
- RTI Application fees
- Spectrum charges
- Dividends from the Reserve Bank of India
Select the correct answer using the code given below:
Correct
Solution: d.
“The annual collection of Non Tax Receipts is over Rs. 2 lakh crores. The biggest share flows from Dividends paid by Public Sector Undertakings, RBI etc. The other major items of Non Tax Receipts are interest receipts, spectrum charges, royalty, license fee, sale of forms, RTI application fee etc.”
Incorrect
Solution: d.
“The annual collection of Non Tax Receipts is over Rs. 2 lakh crores. The biggest share flows from Dividends paid by Public Sector Undertakings, RBI etc. The other major items of Non Tax Receipts are interest receipts, spectrum charges, royalty, license fee, sale of forms, RTI application fee etc.”
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Question 6 of 6
6. Question
1 pointsFollowing are commodity groups in the Wholesale Price Index:
- Primary Articles
- Fuel and Power
- Manufactured Products
Select the correct answer using the code given below, where comparison is being made on the basis of weights that have been accorded to each of them:
Correct
Solution: b.
Manufactured Products (Weight 64.97%); Primary Articles (Weight 20.12%); Fuel & Power (Weight 14.91%)
Incorrect
Solution: b.
Manufactured Products (Weight 64.97%); Primary Articles (Weight 20.12%); Fuel & Power (Weight 14.91%)
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