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Hit List Questions 18 - PPP 100 PRELIMS 2024 - 36
Questions & Explanations:
1. |
Consider the following statements with reference to the Cloud Burst: 1. It occurs mainly in mountainous areas when the warm air currents rise from the ground towards clouds. 2. It produces Land caving. 3. It is caused mainly by the Cumulonimbus clouds. How many of the above statements are correct? (a) Only one (b) Only two (c) All three (d) None Note: |
C |
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2. |
Where are ‘Aïr Massif’ mountains? (a) Ukraine (b) Niger (c) Russia (d) Australia Note: |
B |
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3. |
‘Time Use Survey’ in India is conducted by (a) National Statistical Office (b) Reserve Bank of India (c) Ministry of Labour & Employment (d) None of the above Note: https://indianexpress.com/article/opinion/columns/counting-rural-womens-labour-8970333/ National Statistical Office (NSO) conducted the first "Time Use Survey" (TUS) in India during January – December 2019. The primary objective of Time Use Survey (TUS) is to measure participation of men and women in paid and unpaid activities. TUS is an important source of information on the time spent in unpaid caregiving activities, volunteer work, unpaid domestic service producing activities of the household members. It also provides information on time spent on learning, socializing, leisure activities, self-care activities, etc., by the household members. The TUS survey captures how much time is spent by each member (above 6 years) of the household on different activities in twenty four hours time slot. |
A |
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4. |
Consider the following statements: 1. Kunming-Montreal Global Biodiversity Framework was adopted during the COP 15 of the UN Convention on Biodiversity. 2. The Global Environment Facility was established by the 1992 Rio Earth Summit. Which of the above given statements is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Note: Kunming-Montreal Global Biodiversity Framework (GBF) • It was adopted during the COP 15 of the UN Convention on Biodiversity in 2022. • The Framework supports the achievement of the SDGs, and sets out an ambitious pathway to reach the global vision of a world living in harmony with nature by 2050 through 4 goals and 23 targets. · Enhanced integrity of all ecosystems; ƒ Valuing, maintaining or enhancing Nature’s contributions to people through conservation and sustainable use; · Fair and equitable sharing of the benefits from the utilization of genetic resources; and · Closing the gap between available financial and other means of implementation, and those necessary to achieve the 2050 Vision. • In adopting the framework, all Parties committed to setting national targets to implement it. Global Environment Facility • It was established on the eve of the 1992 Rio Earth Summit. Through its investments, the GEF works with partners to tackle the planet’s biggest environmental issues. • It is a unique partnership of 18 agencies — including United Nations agencies, multilateral development banks, national entities and international NGOs. • It is a financial mechanism for five major international environmental conventions: · The Minamata Convention on Mercury, ƒ The Stockholm Convention on Persistent Organic Pollutants (POPs), · The United Nations Convention on Biological Diversity (UNCBD), ƒ The United Nations Convention to Combat Desertification (UNCCD) and · The United Nations Framework Convention on Climate Change (UNFCCC). • The GEF Trust Fund was established to help tackle our planet’s most pressing environmental problems. Funds are available to developing countries and countries with economies in transition. |
ü C |
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5. |
Which of the following are the birds endemic to Andaman and Nicobar Islands? 1. Narcondam hornbill 2. Hume''s boobook 3. White-headed starling 4. Jerdon’s Courser (a) 2 and 3 only (b) 1, 2 and 3 only (c) 1, 2 and 4 only (d) 1, 2, 3, 4 Note: Jerdon''s Courser is a nocturnal bird known only from Eastern Ghats. It inhabits open patches within scrub-forest. Jerdon’s courser Rhinoptilus bitorquatus is a Critically Endangered nocturnal cursorial bird found only Andhra Pradesh and Telangana, India. It was considered to be extinct from the beginning of the 20th century until its rediscovery in 1986. |
B |
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6. |
A Statement of Outstanding Universal Value that is seen in news refer to the context of (a) World Heritage property (b) Universal Morality of Gandhian Values (c) World linguistic index (d) Universal code of Gender equality Note: |
A |
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7. |
India''s First 3D-Printed Post Office was inaugurated in (a) Alleppey (b) Bengaluru (c) Calicut (d) Mysuru Note: https://indianexpress.com/article/cities/pune/chhagan-bhujbal-shinde-fadnavis-rohit-pawar-9032121/ |
B |
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8. |
Which of the following statements are true regarding “Open Market Sale Scheme”: (a) It is done by Reserve Bank of India to sell Govt. securities (b) It is done by Food Corporation of India to sell excess stock of food grains (c) It is done by Securities and Exchange Board of India (SEBI) to sell shares (d) It is done by companies listed on stock exchange to issue shares Note: |
B |
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9. |
Consider the following statements w.r.t. “Murmansk”. 1. It is located on the Kola Peninsula at the coast of Barents Sea. 2. It is the beginning point of the Northern Sea Route. Which of the above statements is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Note: Murmansk Port:
Kola Peninsula
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C |
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10. |
The correct order of the places along India- China border from South to North (a) Galawan Valley - Demchok - Depsang Plains - Pangong Tso (b) Depsang Plains-Pangong Tso-Galawan Valley- Demchok (c) Demchok - Pangong Tso - Galawan Valley - Depsang Plains (d) Pangong Tso -Depsang Plains-Demchok-Galawan Valley
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C |
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11. |
With reference to the Deflation, which of the following statements is/are correct? 1. Deflation is a general decline in prices for goods and services during which the purchasing power of currency rises over time. 2. Deflation benefits consumers and can harm borrowers. Select the correct answer using the code given below: (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Note: |
C |
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12. |
Consider the following statements with reference to Perucetus Colossus: 1. It existed during the Eocene epoch. 2. It is an extinct species of Cetacean. 3. It was a slow-moving whale, inhabiting shallow waters. How many of the above statements are correct? (a) Only one (b) Only two (c) All three (d) None Note: https://indianexpress.com/article/technology/science/perucetus-colossus-heaviest-whale-8874552/ |
C |
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13. |
The Yuelu Proclamation is related to (a) Conserving Bio Diversity (b) Protecting linguistic diversity (c) Eradicating Child Labour (d) Achieving Gender Equality Note: The Yuelu Proclamation 2018, made by the UNESCO at Changsha, China, focuses on “protection and promotion of linguistic diversity ‘. |
B |
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14. |
‘Sponge Cities’ initiative was launched by (a) China (b) Iran (c) North Korea (d) South Korea Note: |
A |
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15. |
Consider the following statements: 1. The North Sea has colder, denser, and saltier waters. 2. The Baltic Sea has warmer, less saline waters. Which of these statements is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Note: |
C |
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16. |
Which of the following are imposed in case a country’s government is subsidizing its exporters? (a) Anti-Dumping Duty (b) Countervailing Duty (c) Safeguard Duty (d) Vanguard Duty Note: Countervailing duty (CVD)
Anti-dumping duty (AD)
Countervailing duty v/s Anti-dumping duty;
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B |
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17. |
1. Gold 2. International unilateral transfers 3. Royalty payments 4. Interest bearing financial instruments 5. Tourism Which of the above come under Current Account of Balance of Payemnts? (a) Only 1, 2 & 3 (b) Only 1, 2, 3 & 5 (c) Only 2 & 3 (d) 1, 3, 4 & 5 Note · The balance of payments (BoP) records transactions in goods, services, and assets between residents of a country and the rest of the world over a set period of time, typically a year. · The BoP has two main accounts: · the current account · the capital account · Current Account: The current account keeps track of goods exports and imports, as well as trade in services and transfer payments. · Capital Account: The capital account records all international purchases and sales of assets such as money, stocks, bonds, and so on. Foreign investments and loans are included. Current Account · The current account tracks the inflows and outflows of goods, services, and investments into and out of a country. · If the value of goods and services imported exceeds the value of those exported, the country runs a deficit. · The current account includes net income, such as interest and dividends, as well as transfers such as foreign aid. · The current account of a country keeps track of the country''s transactions with other countries. · The current account is made up of visible trade (goods exported and imported), invisible trade (services exported and imported), unilateral transfers, and investment income (income from factors such as land or foreign shares). · The credit and debit of foreign exchange from these transactions are also reflected in the current account balance. · The resulting current account balance is approximated as the sum total of the balance of trade. Balance on Current Account · Receipts from exports of goods, services, and unilateral payments are recorded as credit or positive items in the current account, while payments for imports of goods, services, and unilateral payments are recorded as debit or negative items. · The current account balance is the net value of credit and debit balances. · A current account surplus occurs when credit items exceed debit items. It represents the net inflow of foreign exchange. · For the first time in 17 years, India''s current account in the balance of payments finished in a surplus of 0.9 percent of GDP in FY ''21, as the trade deficit shrank due to a drop in pandemic-induced import demand. · A current account deficit occurs when debit items exceed credit items. It denotes the net outflow of foreign currency. Balance of Trade · The balance of trade (BOT) is the difference between a country''s imports and exports for a given period and is the most important component of a country''s balance of payments (BOP). · A trade deficit occurs when a country imports more goods and services than it exports in terms of value, whereas a trade surplus occurs when a country exports more goods and services than it imports. Balance of Trade Vs Current Account Difference between Balance of Trade and Current Account
Components of the Current Account The major components of the current account are as follows: Visible Trade (goods exported and imported) · The majority of foreign trade transactions involve a country''s export and import of goods. · Payments made for the import of goods from other countries are shown on the negative side or as debit items, while receipts from the export of goods to other countries are shown on the positive side or as positive items. · The difference between these exports and imports is referred to as the trade balance or the merchandise trade balance. · If imports exceed exports, the trade balance will be negative; if exports exceed imports, the trade balance will be positive. Invisible trade (the export and import of services) · It includes the export and import of services such as information technology services, banking, insurance, and consultancy services provided to foreign countries, BPO, tourism, and outsourcing, among other things. · The export of services is recorded as a credit in the current account, while the import of services is recorded as a debit. · Because the export and import of services are both invisible, they are referred to as invisible trade. Transfer Payments · Transfer payments are one-way transfers that include gifts and donations, personal remittances, foreign aid, charitable donations, withdrawal of NRI deposits locally, and so on. · Incoming transfers are recorded as a credit to the current account, while outgoing remittances are recorded as a debit to the current account. Net Factor Income · Net factor income refers to income from foreign investments, profits from subsidiaries of companies located abroad, interest earned from loans and investments abroad, dividend income from shares in foreign companies, and so on. · If income is received from foreign sources, it is recorded as a credit to the current account; if payments are made to foreign residents, they are recorded as a debit to the current account. Remittances Remittances have a positive impact on economic growth by reducing the current account deficit, improving the balance of payment position, and reducing reliance on external borrowing. Current Account Deficit When an economy runs a current account deficit, it consumes more than it produces (consumption = domestic consumption + investment + government spending). This can only happen if other economies lend their savings to it (via debit or direct/portfolio investment in the economy) or if the economy is depleting its foreign assets, such as its official foreign currency reserve. A rising CAD indicates that a country has become uncompetitive, and investors may be unwilling to invest there. A current account deficit isn''t always a bad thing. A current account deficit is irrelevant if it is driven by the private sector because it is caused by private sector agents engaging in mutually beneficial trade. Current Account = Trade gap + Net current transfers + Net income abroad (Trade gap = Exports – Imports) Significance of Current Account Deficit · The current account deficit is a key indicator of competitiveness as well as the level of imports and exports. · A large current account deficit usually indicates an economic imbalance that must be corrected through exchange rate depreciation and/or improved competitiveness over time. · A current account deficit is paid for by attracting capital inflows, such as foreigners purchasing domestic assets. This means that foreigners have a stronger claim to assets and dividends. · Because we are buying from abroad, the Current Account Deficit allows for higher levels of domestic consumption. Measures to Fund Current Account Deficit · Current-account deficits are funded by a variety of capital inflows, including portfolio investments, external commercial borrowings, foreign direct investments, and NRI deposits. Inadequate financing for CAD may put pressure on the local currency. · Non-debt creating long-term inflows, such as foreign direct investment, are the best way to fund the current account deficit. Volatile inflows, such as portfolio investments, or "hot money," could jeopardize the external sector balance sheet''s stability. The Current Account Deficit in India could be reduced by increasing exports and reducing non-essential imports such as gold, mobile phones, and electronics. |
B |
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18. |
Government declares MSP which is at least 50% over cost of production. This cost includes: (i) Actual paid out cost on rentals (ii) Rentals forgone on owned land (iii) Depreciation on agricultural implements (iv) Actual storage cost post harvest Select the correct answer using the code given below: (a) (i) only (b) (i) & (iii) only (c) (ii) & (iii) only (d) (i) & (iv) only Note: Govt. announces MSP which is at least 50% over "All-India weighted average Cost of Production". (MSP for all over India is same). Now, the cost of production can be calculated in 3 ways. 1) A2: (Average of actual paid out costs): It will include expenses on purchase of inputs, electricity, fertilizers, etc. If someone has taken land/equipment on lease and he is paying rent that will also be included. And if a farmer has hired labour then that cost will also be included. But if someone is using family labour then since the farmer is not actually paying from his pocket, so it will not be included in cost. That is why the term says actual paid out costs. 2) A2 + FL (Covers actual paid out cost + imputed value of family labour): In this case, if the farmer is using family labour then what we calculate is if the farmer will have to hire the same labour from the market then how much he will have to pay and then it is added in A2. This is called imputed value of family labour. 3) C2 (More comprehensive and includes for the rentals and interest foregone on owned land and fixed capital assets on top of A2 + FL): This means that if a person has his own land then of course he is not paying rentals and there will be no cost included in either "A2" or "A2+FL". But here in "C2" we will add the cost assuming that if the farmer has to take the same land on rent then what would be the cost, even if he is actually not paying any rent. Govt. provides MSP of at least 50% above the “A2 + FL” cost. So, from the above we can see that (i) statement is true and (ii) statement is not true. Post harvest activities are not included in the cost hence (iv) statement is not true. Let us understand the depreciation on agriculture equipments. Let us understand the depreciation on agriculture equipments. If I am a farmer and producing wheat and I purchased a TRACTOR in year 2020-21, whose price is Rs. 6 lakhs. And suppose I use this tractor for 10 years and after that it is of no use. Now, I should not include the entire Rs. 6 lakhs amount to calculate my cost of production in the year 2020-21. Otherwise, my cost will look too high (this is not good accounting practise). And since I will also be using this equipment for the entire 10-year period, so, ideally, I should say that my annual cost of equipment is Rs. 60,000 (6 lakhs/10 years). Basically, average distribution of the equipment cost. This Rs. 60,000 is called depreciation (cost). Now, the cost of equipment is part of "A2". Because it is the cost incurred (actual paid out) by the farmer. But all the cost is not subtracted in one particular year rather its cost is uniformly distributed over the entire life of the equipment and that cost is called DEPRECIATION (cost). So, if someone asks that A2 includes the cost on equipment purchase..........then the answer is YES And if someone asks that A2 includes depreciation of equipment ..........then the answer is again YES. Because practically both means the same thing. |
B |
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19. |
Which of the following countries have been locked in a dispute over the Kuril Islands?. (a) Russia and Japan (b) Russia and China (c) Russia, Ukraine and Japan (d) Russia and Ukraine Note: |
A |
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20. |
Consider the following statements regarding ''Core Inflation'': 1. It is a measure of inflation which excludes items that face volatile price movement, notably food and energy. 2. Whenever core inflation rises, Central banks increase their key policy rates to suck excess liquidity from the market and vice versa. 3. It reflects the supply side pressure in the economy. Which of the statements given above is/are correct?. (a) 1 and 2 only (b) 2 and 3 only (c) 1 and 3 only (d) 1, 2 and 3 Note:- |
A |
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21. |
Match the following w.r.t. frequency of conducting each: (i) Periodic Labour Force Survey (ii) Economic Census (iii) Consumer Expenditure Survey 1. No fixed periodicity 2. Quinquennial 3. Annual Select the correct answer using the code given below: (a) (i) – 1, (ii) – 3, (iii) – 2 (b) (i) – 3, (ii) – 2, (iii) – 1 (c) (i) – 1, (ii) – 2, (iii) – 3 (d) (i) – 3, (ii) – 1, (iii) – 2 Note:’ Economic Census is conducted by NSO, MoSPI and has no fixed periodicity and presently the 7th Economic Census is being conducted (2019). Economic census gives insights on the economic activities being carried out across the country, their geographical distribution, the number and distribution of workers, types of ownership and sources of finance. It covers all structures across the country, whether residential or commercial including informal/unorganized units but excludes certain economic activities such as crop-production, plantation activities, illegal activities, public administration and defence, and activities of extra-territorial organisations. Periodic Labour Force Survey is conducted by National Statistics Office (NSO) to produce annual statistics of employment and unemployment characteristics for both rural and urban areas, along with quarterly estimates for urban areas. Earlier it was conducted after five years. Household consumption expenditure survey is conducted by National Statistical Office (NSO), after every five years and generates estimates of household Monthly Per Capita Consumer Expenditure. Annual Survey of Industries (ASI) is the most important source of industrial statistics of the registered organized manufacturing sector (Factories registered under Factories Act 1948) of the economy and extends to the entire country. It is conducted annually by MoSPI. |
D |
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22. |
With reference to Cocos (Keeling) Islands, consider the following statements: 1. It lies in the eastern Indian Ocean. 2. It is an external territory of France. Which of these statements is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Note: · Indian Navy Dornier maritime patrol aircraft and an Indian Air Force (IAF) C-130 transport aircraft have visited Australia’s Cocos (Keeling) Islands (CKI) in the Southern Indian Ocean. Cocos (Keeling) Islands (CKI) · Cocos Islands also called Keeling Islands is an external territory of Australia in the Indian Ocean. · It comprises a small archipelago approximately midway between Australia and Sri Lanka and relatively close to the Indonesian island of Sumatra. · The islands were discovered in 1609 by the British sea captain William Keeling, but no settlement occurred until the early 19th century · The island consists of two atolls made up of 27 coral islands, of which only two – West Island and Home Island – are inhabited. Strategic significance of Cocos (Keeling) Islands for India · Cocos can be an important base for refuelling and operational turnaround for the Indian military, especially once the runway there is expanded to accommodate large aircraft like the P-8 long range maritime patrol aircraft. · Apart from military cooperation, Cocos Islands had been a point of cooperation between the space agencies of the two countries for India’s Gaganyaan human space flight mission. · Australia is in discussion with India on the establishment of a temporary ground station at Cocos (Keeling) Islands for the Gaganyaan missions. |
A |
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23. |
Consider the following statements w.r.t. “Triton Island”. 1. It is a part of the Paracel Islands chain. 2. It is roughly equidistant from the coast of Vietnam and China’s island province of Hainan. Which of the above statements is/are incorrect? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Note: |
D |
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24. |
The Global Education Monitoring Report 2023, recently seen in the news, is released by (a) UNESCO (b) UNICEF (c) UN Women (d) UNDP Note: |
A |
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25. |
With reference to the Maya Operating System, seen in the news, consider the following statements: 1. It has the interface and all functionality like Windows. 2. It was developed by government development agencies. Which of the statements given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Note: |
C |