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1) __________ is an estimate of the total value of all the final products and services turned out in a given period by the means of production owned by a country’s residents.
a) Gross Domestic Product (GDP)
b) Gross National Product (GNP)
c) Net Domestic Products (NDP)
d) Net National Products (NNP)
e) None of the above
2) In banking operations “LIBOR” term used frequently. What is the full form of LIBOR?
a) London Internet Offered Rate
b) Lebanon International Offered Rate
c) Luxemburg Internet Offered Rate
d) London Interbank Offered Rate
e) None of the above
3) Which of the following IS NOT a functioning mandate of Reserve Bank of India?
a) Regulate the issue of Bank notes
b) Operate the currency and credit system
c) Have a modern monetary policy framework
d) Maintain price stability
e) All of the above are the mandate for RBI functioning
4) Which of the following in economic terms involves selling state-owned assets to the private sector?
5) Which of the following type of Automated Teller Machines (ATMs) are set up, owned and operated by non-bank entities?
6) World Alzheimer’s Day organized on ……
a) 21 September
b) 17 September
c) 8 March
d) 5 June
e) 1 January
7) Krishnarajasagar dam built across ….. River.
8) Global Hunger Index report prepared by ….
a) World Bank
c) UN Development Program (UNDP)
d) International Food Policy Research Institute (IFPRI)
e) UN Environmental Program (UNEP)
9) Kaladan Multimodal project located at ……
10) Which of the following is NOT a place of seating for national Green Tribunal?
e) New Delhi
1) Answer: b)
Gross National Product (GNP) is an estimate of total value of all the final products and services turned out in a given period by the means of production owned by a country’s residents. GNP measures goods and services produced by any entity (such as citizens or companies) belonging to a country, regardless of where the production of that good or service actually takes place whereas GDP measures production within the Geographical boundary.
2) Answer: d)
LIBOR is a benchmark rate that some of the world’s leading banks charge each other for short-term loans. It stands for London Interbank Offered Rate (LIBOR). The LIBOR serves seven different maturities: overnight, one week, and 1, 2, 3, 6 and 12 months.
3) Answer: e)
Functions of the RBI
- To regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India.
- To operate the currency and credit system of the country to its advantage.
- To have a modern monetary policy framework to meet the challenge of an increasingly complex economy.
- To maintain price stability while keeping in mind the objective of growth.
4) Answer: d)
Privatisation: Privatisation involves selling state-owned assets to the private sector. It is argued the private sector tends to run a business more efficiently because of the profit motive. However, critics argue private firms can exploit their monopoly power and ignore wider social costs.
Economic liberalization is the lessening of government regulations and restrictions in an economy in exchange for greater participation by private entities; the doctrine is associated with classical liberalism. Thus, liberalisation in short is “the removal of controls” in order to encourage economic development.
Globalisation refers to the integration of markets in the global economy, leading to the increased interconnectedness of national economies.
5) Answer: C)
Automated Teller Machines (ATMs) set up, owned and operated by non-bank entities are called “White Label ATMs” (WLAs).
RBI has eased business guidelines for white label ATMs allowing companies that manage these machines to source cash directly from the central bank, offer non-bank services like bill payments and advertise even non-financial products in their premises, increasing the revenue earning scope for these companies.
White label ATM Operators (WLAO), can now source cash directly from RBI offices and currency chests, and will no longer be dependent on sponsor banks for procurement of cash.
6) Answer: A)
World Alzheimer’s Day organized on 21st September.
7) Answer: D)
Krishnarajasagar dam built across Kaveri River near Mysore in Karnataka.
8) Answer: D)
The Global Hunger Index (GHI) is a multidimensional statistical tool used to describe the state of countries’ hunger situation. The Index was adopted and further developed by the International Food Policy Research Institute (IFPRI) and was first published in 2006.
9) Answer: D)
The Kaladan Multi-Modal Transit Transport Project is a project that will connect the eastern Indian seaport of Kolkata with Sittwe seaport in Rakhine State, Myanmar by sea. In Myanmar, it will then link Sittwe seaport to Paletwa, Chin State via the Kaladan river boat route, and then from Paletwa by road to Mizoram state in Northeast India.
10) Answer: B)
New Delhi is the Principal Place of Sitting of the Tribunal and Bhopal, Pune, Kolkata and Chennai are the other four places of sitting of the Tribunal.
The National Green Tribunal has been established on 18.10.2010 under the National Green Tribunal Act 2010 for effective and expeditious disposal of cases relating to environmental protection and conservation of forests and other natural resources including enforcement of any legal right relating to environment and giving relief and compensation for damages to persons and property and for matters connected therewith or incidental thereto.