Current Affairs Quiz 12 September 2023
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Current Affairs Quiz 12 September 2023 for UPSC Prelims
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- Question 1 of 5
1. Question
Which of the following statements is/are correct with reference to Stagflation?
1. Stagflation refers to a state of an economy that is experiencing a simultaneous increase in inflation and
rising unemployment.
2. The occurrence of stagflation proves the theory behind the Philips curve.
Select the correct answer using the code given below.CorrectAnswer: A
The theory claims that economic growth comes with inflation, which in turn should lead to more jobs and
less unemployment. However, the concept has been somewhat disproven empirically due to the
occurrence of stagflation in the 1970s, when there were high levels of both inflation and
unemployment. Hence, statement 2 is not correct.IncorrectAnswer: A
The theory claims that economic growth comes with inflation, which in turn should lead to more jobs and
less unemployment. However, the concept has been somewhat disproven empirically due to the
occurrence of stagflation in the 1970s, when there were high levels of both inflation and
unemployment. Hence, statement 2 is not correct. - Question 2 of 5
2. Question
Which of the following countries are a part of ASEAN.
1. India
2. China
3. Maynmar
4. Thailand
Select the correct answer using the codes below.CorrectAns. C
About Association of Southeast Asian Nations (ASEAN)
The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization comprising Ten Countries in Southeast Asia.
Members of ASEAN
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Brunei
• Vietnam
• Laos
• Myanmar
• Cambodia
ASEAN’s Objectives:
• To promote intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.
• To maintain close and beneficial cooperation with existing international and regional organisations.
• To promote regional peace and stability through abiding respect for justice and the rule of law and adherence to the principles of the United Nations Charter.
• To accelerate economic growth, social progress and cultural development for a prosperous and peaceful community of Southeast Asian Nations.A major partner of Shanghai Cooperation Organisation, ASEAN maintains a global network of alliances and dialogue partners and is considered by many as the central union for cooperation in Asia-Pacific.
• The motto of ASEAN is “One Vision, One Identity, One Community”.
• ASEAN is headquartered in Jakarta, Indonesia.
• 8th August is observed as ASEAN Day.
• In 1967 ASEAN was established with the signing of the ASEAN Declaration (Bangkok Declaration) by its founding fathers: Indonesia, Malaysia, Philippines, Singapore and Thailand.
• Chairmanship of ASEAN rotates annually, based on the alphabetical order of the English names of Member States.
• ASEAN is the 3rd largest market in the world – larger than EU and North American markets.IncorrectAns. C
About Association of Southeast Asian Nations (ASEAN)
The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization comprising Ten Countries in Southeast Asia.
Members of ASEAN
• Indonesia
• Malaysia
• Philippines
• Singapore
• Thailand
• Brunei
• Vietnam
• Laos
• Myanmar
• Cambodia
ASEAN’s Objectives:
• To promote intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.
• To maintain close and beneficial cooperation with existing international and regional organisations.
• To promote regional peace and stability through abiding respect for justice and the rule of law and adherence to the principles of the United Nations Charter.
• To accelerate economic growth, social progress and cultural development for a prosperous and peaceful community of Southeast Asian Nations.A major partner of Shanghai Cooperation Organisation, ASEAN maintains a global network of alliances and dialogue partners and is considered by many as the central union for cooperation in Asia-Pacific.
• The motto of ASEAN is “One Vision, One Identity, One Community”.
• ASEAN is headquartered in Jakarta, Indonesia.
• 8th August is observed as ASEAN Day.
• In 1967 ASEAN was established with the signing of the ASEAN Declaration (Bangkok Declaration) by its founding fathers: Indonesia, Malaysia, Philippines, Singapore and Thailand.
• Chairmanship of ASEAN rotates annually, based on the alphabetical order of the English names of Member States.
• ASEAN is the 3rd largest market in the world – larger than EU and North American markets. - Question 3 of 5
3. Question
Consider the following statements with reference to Sovereign Gold Bond Scheme:
1. Sovereign Gold Bond Scheme was introduced in the Union Budget 2020- 21
2. The minimum permissible investment limit will be 1000 grams of gold.
Which of the statements given above is/are correct?CorrectAnswer: D
About Sovereign Gold Bond Scheme (SGB)
• The Sovereign Gold Bond Scheme was introduced in the Union Budget 2015-16 by the Union Cabinet which was chaired by PM Narendra Modi.
• It was launched to reduce the demand for physical gold and with an aim to invest a part of these physicals gold bars and coins that are purchased every year into financial savings in the form of gold bonds.
• Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.
• The Bond is issued by Reserve Bank on behalf of Government of India.
• Government introduced these bonds to help reduce India’s over dependence on gold imports.
• The move was also aimed at changing the habits of Indians from saving in physical form of gold to a paper form with Sovereign backing.
• The bonds will be restricted for sale to resident Indian entities, including individuals, Hindu Undivided Family (HUFs), trusts, universities and charitable institutions.
• The bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
• The tenor will be for a period of 8 years with exit option from the 5th year to be exercised on the interest payment dates.
• The minimum permissible investment limit will be 1 gram of gold, while the maximum limit will be 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal (April-March) notified by the government from time to time.
• In case of joint holding, the investment limit of 4 kg will be applied to the first applicant only.
• Bonds can be used as collateral for loans.
• The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time.IncorrectAnswer: D
About Sovereign Gold Bond Scheme (SGB)
• The Sovereign Gold Bond Scheme was introduced in the Union Budget 2015-16 by the Union Cabinet which was chaired by PM Narendra Modi.
• It was launched to reduce the demand for physical gold and with an aim to invest a part of these physicals gold bars and coins that are purchased every year into financial savings in the form of gold bonds.
• Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.
• The Bond is issued by Reserve Bank on behalf of Government of India.
• Government introduced these bonds to help reduce India’s over dependence on gold imports.
• The move was also aimed at changing the habits of Indians from saving in physical form of gold to a paper form with Sovereign backing.
• The bonds will be restricted for sale to resident Indian entities, including individuals, Hindu Undivided Family (HUFs), trusts, universities and charitable institutions.
• The bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.
• The tenor will be for a period of 8 years with exit option from the 5th year to be exercised on the interest payment dates.
• The minimum permissible investment limit will be 1 gram of gold, while the maximum limit will be 4 kg for individual, 4 kg for HUF and 20 kg for trusts and similar entities per fiscal (April-March) notified by the government from time to time.
• In case of joint holding, the investment limit of 4 kg will be applied to the first applicant only.
• Bonds can be used as collateral for loans.
• The loan-to-value (LTV) ratio is to be set equal to ordinary gold loan mandated by the Reserve Bank from time to time. - Question 4 of 5
4. Question
Consider the following statements:
1) The earth is revolving around the sun in an elliptical orbit leads to seasonal variation in solar energy received by the earth.
2) The closest point to the Sun in a planet’s orbit is called Aphelion
Which of the following statements is/are correct?CorrectEarth’s Distance from Sun: The earth is revolving around the sun in an elliptical orbit, resulting continuous change in the distance between sun and the earth on annual basis. It leads to seasonal variation in solar energy received by the earth. During aphelion the northern hemisphere is facing the sun and therefore receives energy about 7 percent less than the perihelion (southern hemisphere).
The closest point to the Sun in a planet’s orbit is called perihelion.
IncorrectEarth’s Distance from Sun: The earth is revolving around the sun in an elliptical orbit, resulting continuous change in the distance between sun and the earth on annual basis. It leads to seasonal variation in solar energy received by the earth. During aphelion the northern hemisphere is facing the sun and therefore receives energy about 7 percent less than the perihelion (southern hemisphere).
The closest point to the Sun in a planet’s orbit is called perihelion.
- Question 5 of 5
5. Question
With reference to sources of energy, the term 2nd generation biofuel usually refers to the
biofuelsCorrectAnswer: A
IncorrectAnswer: A
