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Daily Quiz: July 18
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- Question 1 of 7
1. Question
1 pointsConsider the following statements about ‘Frictional Unemployment’:
- Frictional unemployment can be reduced by quickly matching prospective job seekers with job openings of interest.
- It can be reduced through monetary expansion.
- When the economy enters into a recession, frictional unemployment tends to increase.
Which of the above statement(s) is/are incorrect?
Correct
Statement 1 is correct. Frictional unemployment can be reduced by quickly matching prospective job seekers with job openings of interest. This is accomplished through the transmission of information. Through social media and job posting websites, individuals looking for jobs may now experience a quicker turnaround to get hired. This reduces the frictional unemployment level.
Statement 2 is incorrect. Frictional unemployment is the only form of unemployment that will not be reduced through monetary expansion. In fact, if monetary expansion occurs, more job openings will occur, thus potentially resulting in an increase of functional unemployment.
Statement 3 is incorrect. When the economy enters into a recession, frictional unemployment tends to decline. This is a result of workers being afraid to leave their current positions in search of new ones.
More about Frictional Unemployment:
- Frictional unemployment is always present in the economy, resulting from temporary transitions made by workers and employers or from workers and employers having inconsistent or incomplete information.
Frictional unemployment is beneficial to the economy. It is an indicator that individuals are seeking better positions.
Incorrect
Statement 1 is correct. Frictional unemployment can be reduced by quickly matching prospective job seekers with job openings of interest. This is accomplished through the transmission of information. Through social media and job posting websites, individuals looking for jobs may now experience a quicker turnaround to get hired. This reduces the frictional unemployment level.
Statement 2 is incorrect. Frictional unemployment is the only form of unemployment that will not be reduced through monetary expansion. In fact, if monetary expansion occurs, more job openings will occur, thus potentially resulting in an increase of functional unemployment.
Statement 3 is incorrect. When the economy enters into a recession, frictional unemployment tends to decline. This is a result of workers being afraid to leave their current positions in search of new ones.
More about Frictional Unemployment:
- Frictional unemployment is always present in the economy, resulting from temporary transitions made by workers and employers or from workers and employers having inconsistent or incomplete information.
Frictional unemployment is beneficial to the economy. It is an indicator that individuals are seeking better positions.
- Question 2 of 7
2. Question
1 pointsThe Insolvency and Bankruptcy Board of India (IBBI) has notified regulations for inspection and investigation of service providers registered with it.
Consider the following statements about Insolvency and Bankruptcy Board of India (IBBI):- It functions under Ministry of Finance.
- It was given statutory powers through the Insolvency and Bankruptcy Code.
Which of the above statement(s) is/are correct?
Correct
Statement 1 is incorrect. IBBI functions under Ministry of Commerce.
Statement 2 is correct.
About Insolvency and Bankruptcy Board of India (IBBI):
- IBBI is the regulator for overseeing insolvency proceedings of service providers like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India.
- It was given statutory powers through the Insolvency and Bankruptcy Code. It functions under Ministry of Commerce.
- The Code provides for a market-determined and time-bound resolution of insolvency proceedings.
- It covers Individuals, Companies, Limited Liability Partnerships and Partnership firms.
- It attempts to simplify the process of insolvency and bankruptcy proceedings and speed up the resolution process for stressed assets in the country.
Incorrect
Statement 1 is incorrect. IBBI functions under Ministry of Commerce.
Statement 2 is correct.
About Insolvency and Bankruptcy Board of India (IBBI):
- IBBI is the regulator for overseeing insolvency proceedings of service providers like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India.
- It was given statutory powers through the Insolvency and Bankruptcy Code. It functions under Ministry of Commerce.
- The Code provides for a market-determined and time-bound resolution of insolvency proceedings.
- It covers Individuals, Companies, Limited Liability Partnerships and Partnership firms.
- It attempts to simplify the process of insolvency and bankruptcy proceedings and speed up the resolution process for stressed assets in the country.
- Question 3 of 7
3. Question
1 pointsWhich of the following statement(s) about Investment Facilitation Mechanism (IFM) is/are correct?
- The main objective of IFM is to pave the way for identifying and solving problems faced by Indian companies and investors with regard to their operations in India.
- It will serve as a common platform for discussing general suggestions from the point of view of Indian investors and companies with regard to ease of doing business in India.
Correct
None of the above statements are correct.
Statement 1 is incorrect. The key objective of IFM is to pave the way for identifying and solving problems faced by EU companies and investors with regard to their operations in India.
Statement 2 is incorrect. It will also serve as a common platform for discussing general suggestions from the point of view of EU investors and companies with regard to ease of doing business in India.
More about Investment Facilitation Mechanism (IFM):
- Invest India, the official Investment Promotion and Facilitation Agency of India, will also be part of the mechanism. It will create a single-window entry point for EU companies that need assistance for their investments at the central/state level.
- The establishment of the IFM is considered as a right step in the direction of strengthening the trade and investment ties between the EU and India.
- This initiative will help ensuring a more robust, effective and predictable business environment for the EU investors.
Incorrect
None of the above statements are correct.
Statement 1 is incorrect. The key objective of IFM is to pave the way for identifying and solving problems faced by EU companies and investors with regard to their operations in India.
Statement 2 is incorrect. It will also serve as a common platform for discussing general suggestions from the point of view of EU investors and companies with regard to ease of doing business in India.
More about Investment Facilitation Mechanism (IFM):
- Invest India, the official Investment Promotion and Facilitation Agency of India, will also be part of the mechanism. It will create a single-window entry point for EU companies that need assistance for their investments at the central/state level.
- The establishment of the IFM is considered as a right step in the direction of strengthening the trade and investment ties between the EU and India.
- This initiative will help ensuring a more robust, effective and predictable business environment for the EU investors.
- Question 4 of 7
4. Question
1 pointsIt is said that population growth is not just the question of numbers, but also of age composition of the population. The reason is that:
Correct
Option b is the correct answer, that is – more number of people in the productive age leads to net addition to wealth/money.
About population growth in India:
- Data: India population is equivalent to 18% of the total world population, 33 % of the population is urban and the median age in India is 26.9 years.
- India’s total fertility rate – a measure of the number of children born to a woman during her lifetime – was down from 5.9 in 1951 to 2.3 in 2011.
- The population started soaring in the 1950s and saw the highest decadal growth of 24.8 per cent in the 1960s and 24.7 per cent in the 1970s.
- Since the 1980s, decadal growth has been falling and the 1990s saw a significant fall. The 2011 census confirmed that the fall is picking up pace.
Incorrect
Option b is the correct answer, that is – more number of people in the productive age leads to net addition to wealth/money.
About population growth in India:
- Data: India population is equivalent to 18% of the total world population, 33 % of the population is urban and the median age in India is 26.9 years.
- India’s total fertility rate – a measure of the number of children born to a woman during her lifetime – was down from 5.9 in 1951 to 2.3 in 2011.
- The population started soaring in the 1950s and saw the highest decadal growth of 24.8 per cent in the 1960s and 24.7 per cent in the 1970s.
- Since the 1980s, decadal growth has been falling and the 1990s saw a significant fall. The 2011 census confirmed that the fall is picking up pace.
- Question 5 of 7
5. Question
1 pointsConsider the following statements about Electronics Development Fund (EDF) policy:
1. EDF is the mother fund that will contribute to various funds for those who invest the money in companies for creation of intellectual property rights (IPR) in the field of electronics and IT.
2. It works with venture capitalists to create funds, known as ‘Fund Managers’ which provide risk capital to companies developing new technologies in the area of nano-electronics, electronics and IT.
Which of the above statement(s) is/are correct?
Correct
Statement 1 is correct.
Statement 2 is incorrect, as it is known as ‘daughter funds’ and not ‘Fund Managers’.
More about Electronics Development Fund (EDF):
· It helps attract angel funds, venture funds and seed funds towards research & development (R&D) and innovation in the specified areas.
· It also helps to create a battery of Fund Managers and Daughter funds who will be seeking good start-ups (potential winners) and selecting them based on professional considerations.
Incorrect
Statement 1 is correct.
Statement 2 is incorrect, as it is known as ‘daughter funds’ and not ‘Fund Managers’.
More about Electronics Development Fund (EDF):
· It helps attract angel funds, venture funds and seed funds towards research & development (R&D) and innovation in the specified areas.
· It also helps to create a battery of Fund Managers and Daughter funds who will be seeking good start-ups (potential winners) and selecting them based on professional considerations.
- Question 6 of 7
6. Question
1 pointsA multidimensional measure of poverty can incorporate a range of indicators to capture the complexity of poverty and better inform policies to relieve it. Multidimensional Poverty Index (MPI) is a composite index of which of the following?
Correct
Option d is the correct answer.
About Multidimensional Poverty measure:
- Multidimensional poverty is made up of several factors that constitute poor people’s experience of deprivation – such as poor health, lack of education, inadequate living standard, lack of income (as one of several factors considered), disempowerment, poor quality of work and threat from violence.
- A multidimensional measure can incorporate a range of indicators to capture the complexity of poverty and better inform policies to relieve it. Different indicators can be chosen appropriate to the society and situation.
- The MPI can help the effective allocation of resources by making possible the targeting of those with the greatest intensity of poverty; it can help address some SDGs strategically and monitor impacts of policy intervention.
Incorrect
Option d is the correct answer.
About Multidimensional Poverty measure:
- Multidimensional poverty is made up of several factors that constitute poor people’s experience of deprivation – such as poor health, lack of education, inadequate living standard, lack of income (as one of several factors considered), disempowerment, poor quality of work and threat from violence.
- A multidimensional measure can incorporate a range of indicators to capture the complexity of poverty and better inform policies to relieve it. Different indicators can be chosen appropriate to the society and situation.
- The MPI can help the effective allocation of resources by making possible the targeting of those with the greatest intensity of poverty; it can help address some SDGs strategically and monitor impacts of policy intervention.
- Question 7 of 7
7. Question
1 pointsIndia is ranked 40th among the 136 economies across the world in 2017 Travel and Tourism Competitiveness Index (TTCI). The index is released by:
Correct
Option d is the correct answer.
About Travel and Tourism Competitiveness Index (TTCI):
· The index compiled by World Economic Forum (WEF) ranks 136 countries across 14 dimensions under sub-indexes.
· It measures set of factors and policies that enable sustainable development of travel and tourism sector, which in turn, contributes to the development and competitiveness of a country.
· It further reveals how well countries could deliver sustainable economic and societal benefits through their travel and tourism sector.
About World Economic Forum:
· WEF is an international institution founded by Klaus Schwab that works to improve the state of the world through public-private cooperation.
· It was established in 1971 and is headquartered in Geneva, Switzerland.
It is an independent not-for-profit organization that works closely with other international organizations. It also works with leaders in the field of politics, business, and academia to set global, regional and industrial agenda.
Option d is the correct answer.About Travel and Tourism Competitiveness Index (TTCI):
· The index compiled by World Economic Forum (WEF) ranks 136 countries across 14 dimensions under sub-indexes.
· It measures set of factors and policies that enable sustainable development of travel and tourism sector, which in turn, contributes to the development and competitiveness of a country.
· It further reveals how well countries could deliver sustainable economic and societal benefits through their travel and tourism sector.
About World Economic Forum:
· WEF is an international institution founded by Klaus Schwab that works to improve the state of the world through public-private cooperation.
· It was established in 1971 and is headquartered in Geneva, Switzerland.
It is an independent not-for-profit organization that works closely with other international organizations. It also works with leaders in the field of politics, business, and academia to set global, regional and industrial agenda.
Incorrect
Option d is the correct answer.
About Travel and Tourism Competitiveness Index (TTCI):
· The index compiled by World Economic Forum (WEF) ranks 136 countries across 14 dimensions under sub-indexes.
· It measures set of factors and policies that enable sustainable development of travel and tourism sector, which in turn, contributes to the development and competitiveness of a country.
· It further reveals how well countries could deliver sustainable economic and societal benefits through their travel and tourism sector.
About World Economic Forum:
· WEF is an international institution founded by Klaus Schwab that works to improve the state of the world through public-private cooperation.
· It was established in 1971 and is headquartered in Geneva, Switzerland.
It is an independent not-for-profit organization that works closely with other international organizations. It also works with leaders in the field of politics, business, and academia to set global, regional and industrial agenda.
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