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Daily Quiz: April 2, 2019
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- Question 1 of 7
1. Question
1 pointsCategory: EconomyConsider the following statements:
- The first telegraph line in India was laid between Kolkata (formerly Calcutta) and Diamond Harbour.
- The first Exports processing zone in India was set up in Kandla.
Which of the statements given above is / are correct?
Correct
The first experimental electric telegraph line was started Calcutta (now Kolkata) and diamondharbour in November 1850. A regular telegraph department was set up in 1854 when the telegraph act was enacted and telegraph facilities were thrown open to public traffic.
The first automatic telephone exchange was commissioned at Shimla in 1913-14
India was one of the first in Asia to recognize the effectiveness of the export, with Asia’s first EPZ set up in kandla in 1965, seven other zones were later established in Mumbai, Chennai,Surat, Falta, Kochi, Noida and Vizag
Incorrect
The first experimental electric telegraph line was started Calcutta (now Kolkata) and diamondharbour in November 1850. A regular telegraph department was set up in 1854 when the telegraph act was enacted and telegraph facilities were thrown open to public traffic.
The first automatic telephone exchange was commissioned at Shimla in 1913-14
India was one of the first in Asia to recognize the effectiveness of the export, with Asia’s first EPZ set up in kandla in 1965, seven other zones were later established in Mumbai, Chennai,Surat, Falta, Kochi, Noida and Vizag
- Question 2 of 7
2. Question
1 pointsCategory: Economywith reference to India, consider the following :
- Nationalization of banks
- Formation of regional Rural banks
- Adoption of villages by bank branches
Which of the above can be considered as steps taken to achieve the “financial inclusion” In India?
Correct
Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low- income segment of society, in contrast to financial exclusion where those services are not available or affordable.
In this particular question all the steps are targeted financial inclusion in one way or the other nationalization targeted expansion of bank branches in rural areas and also a control on concentration of economic power in the hands of few. RRBs were planned to cater the needs of rural areas.
Incorrect
Financial inclusion or inclusive financing is the delivery of financial services at affordable costs to sections of disadvantaged and low- income segment of society, in contrast to financial exclusion where those services are not available or affordable.
In this particular question all the steps are targeted financial inclusion in one way or the other nationalization targeted expansion of bank branches in rural areas and also a control on concentration of economic power in the hands of few. RRBs were planned to cater the needs of rural areas.
- Question 3 of 7
3. Question
1 pointsCategory: HistoryThe lowering of bank Rate by the Reserve Bank of India leads to
Correct
Bank rate is the rate interest which a central bank (RBI) charges on the loans and advanced to a commercial bank. It also referred to as the discount Rate.
If RBI wants to increase the liquidity and money supply in the market, it will be decrease the bank rate and if it wants to reduce the liquidity and money supply in the system, It will increase the bank rate.
Incorrect
Bank rate is the rate interest which a central bank (RBI) charges on the loans and advanced to a commercial bank. It also referred to as the discount Rate.
If RBI wants to increase the liquidity and money supply in the market, it will be decrease the bank rate and if it wants to reduce the liquidity and money supply in the system, It will increase the bank rate.
- Question 4 of 7
4. Question
1 pointsCategory: EconomyIndia is regarded as a country with “Demographic Dividend” this is due to
Correct
The demographic dividened is a rise in the rate of economic growth due to a rising share of working class people in a population. India’s demographic dividend is its working age (15-34years) and as a result its economy has the potential to grow more quickly than that of many other countries, including china.
Incorrect
The demographic dividened is a rise in the rate of economic growth due to a rising share of working class people in a population. India’s demographic dividend is its working age (15-34years) and as a result its economy has the potential to grow more quickly than that of many other countries, including china.
- Question 5 of 7
5. Question
1 pointsCategory: EconomyWhich of the following can aid in furthering the Government’s objective of inclusive growth?
- promoting Self Help Groups
- promoting micro, small and medium enterprises
- implementing the Right to Education Act.
Select the correct answer using the codes given below:
Correct
Inclusive growth is a concept which advances equitable opportunities for economic participants during the process of economic growth with benefits incurred by every section of society all the statements contribute to inclusive growth.
Incorrect
Inclusive growth is a concept which advances equitable opportunities for economic participants during the process of economic growth with benefits incurred by every section of society all the statements contribute to inclusive growth.
- Question 6 of 7
6. Question
1 pointsCategory: EconomyAn engineer left his job and started preparing for UPSC exams. This kind of unemployment is called
Correct
Frictional unemployment is unemployment that occurs from the inevitable time delays in finding new employment in a free market. It may also be called ‘search unemployment as it relates to the time taken to search for new employment. For example, if you graduate from university, you can’t necessarily expect to find a job straight away which matches your skills. This period of searching for a job is known as frictional unemployment. Frictional unemployment will also occur when people are switching between jobs, either because they have been made redundant or are looking for new employment.
Incorrect
Frictional unemployment is unemployment that occurs from the inevitable time delays in finding new employment in a free market. It may also be called ‘search unemployment as it relates to the time taken to search for new employment. For example, if you graduate from university, you can’t necessarily expect to find a job straight away which matches your skills. This period of searching for a job is known as frictional unemployment. Frictional unemployment will also occur when people are switching between jobs, either because they have been made redundant or are looking for new employment.
- Question 7 of 7
7. Question
1 pointsCategory: EconomyNational Pharmaceutical Pricing Authority can cap the prices of which of the following?
- Drugs
- Medical devices
- Surgical Procedures
Select the correct answer using the code given below.
Correct
National Pharmaceutical Pricing Authority [NPPA] is an independent body under Department of Pharmaceuticals under Ministry of Chemicals and Fertilizers. Its functions are to fix/revise the controlled bulk drugs prices and formulations. National List of Essential Medicines contains 376 medicines. Criteria for inclusion into this list includes public health emergency, cost effective medicine etc. Once a drug or medical device is included in NLEM, its price can be capped by NPPA. Recently, NPPA capped the prices of knee implants. Surgical procedures are not covered under this.
Incorrect
National Pharmaceutical Pricing Authority [NPPA] is an independent body under Department of Pharmaceuticals under Ministry of Chemicals and Fertilizers. Its functions are to fix/revise the controlled bulk drugs prices and formulations. National List of Essential Medicines contains 376 medicines. Criteria for inclusion into this list includes public health emergency, cost effective medicine etc. Once a drug or medical device is included in NLEM, its price can be capped by NPPA. Recently, NPPA capped the prices of knee implants. Surgical procedures are not covered under this.
