DAY 121Quick read
DAY 121
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Welcome to Manifest IAS daily quiz!!! | Day 121
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Question 1 of 10
1. Question
2 pointsWhich of the following can be treated as features of capitalist economy?
1. Private ownership of means of production.
2. Sale and purchase of labor services at wage rate.
3. Production takes place to meet the needs of masses
Choose the correct answer using the codes given belowCorrect
In a capitalist economy, production takes place for selling the output in the market and is profit oriented. In a socialist economy, production takes place as per needs of the masses. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.
Incorrect
In a capitalist economy, production takes place for selling the output in the market and is profit oriented. In a socialist economy, production takes place as per needs of the masses. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.
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Question 2 of 10
2. Question
2 pointsWhich of the following factors are used to calculate GDP by looking at the demand side of products?
1. Final consumption expenditure on the goods and services produced by a firm.
2. Final investment expenditure, incurred by firms on the capital goods.
3. Value of change in inventories.
4. Expenditure that the government makes on the final goods and services produced by a firm.
Choose the correct answer using the codes given belowCorrect
Export revenues that a firm earns by selling its goods and services abroad is the 4th factor of calculating GDP based on the demand side of products. The method is also known as ‘Expenditure Method’. Value of change in inventories is one of the factors for GDP calculation based on the ‘Gross value added’ method. It reflects the supply side of products in the economy. Gross value added is defined as [Value of sales by the firm + Value of change in inventories – Value of intermediate goods used by the firm].
Incorrect
Export revenues that a firm earns by selling its goods and services abroad is the 4th factor of calculating GDP based on the demand side of products. The method is also known as ‘Expenditure Method’. Value of change in inventories is one of the factors for GDP calculation based on the ‘Gross value added’ method. It reflects the supply side of products in the economy. Gross value added is defined as [Value of sales by the firm + Value of change in inventories – Value of intermediate goods used by the firm].
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Question 3 of 10
3. Question
2 pointsConsider the following statements about Net National Product at factor cost
1. It is higher than Net National Product at market price when indirect tax is greater than zero.
2. It is lower than Net National Product at market price when subsidy is greater than zero.
Which of the above statements are true?Correct
Market price includes indirect taxes. When indirect taxes are imposed on goods and services, their prices go up. We have to deduct them from NNP evaluated at market prices in order to calculate that part of NNP which actually accrues to the factors of production. Similarly, there may be subsidies granted by the government on the prices of some commodities (in India, petrol is heavily taxed by the government, whereas cooking gas is subsidised). So we need to add subsidies to the NNP evaluated at market prices. The measure that we obtain by doing so is called Net National Product at factor cost or National Income.
Incorrect
Market price includes indirect taxes. When indirect taxes are imposed on goods and services, their prices go up. We have to deduct them from NNP evaluated at market prices in order to calculate that part of NNP which actually accrues to the factors of production. Similarly, there may be subsidies granted by the government on the prices of some commodities (in India, petrol is heavily taxed by the government, whereas cooking gas is subsidised). So we need to add subsidies to the NNP evaluated at market prices. The measure that we obtain by doing so is called Net National Product at factor cost or National Income.
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Question 4 of 10
4. Question
2 pointsWhich of the following could be attributed to the theory that ‘GDP of a country can’t be taken as an index of the welfare of the people of that country’?
1. GDP doesn’t reflect the distribution of wealth created among the masses.
2. GDP doesn’t account for those economic activities which may not be monetarily evaluated.
3. GDP accounts for the externalities of economic activities, thus diverting the focus from the economic sector.
Choose the correct answer using the codes given belowCorrect
If the GDP of the country is rising, the welfare may not rise as a consequence. This is because the rise in GDP may be concentrated in the hands of very few individuals or firms. For the rest, the income may in fact have fallen.
Many activities in an economy are not evaluated in monetary terms. For example, the domestic services women perform at home are not paid for. This is a case of underestimation of GDP. Hence GDP calculated in the standard manner may not give us a clear indication of the productive activity.
Several economic activities may have a negative impact on society and the environment. For example, mining may cause respiratory issues among the laborers and construction may cause air pollution. Such negative externalities not only affect the welfare of people, but also affect productivity in the long term. GDP not including such externalities leads to overestimation.Incorrect
If the GDP of the country is rising, the welfare may not rise as a consequence. This is because the rise in GDP may be concentrated in the hands of very few individuals or firms. For the rest, the income may in fact have fallen.
Many activities in an economy are not evaluated in monetary terms. For example, the domestic services women perform at home are not paid for. This is a case of underestimation of GDP. Hence GDP calculated in the standard manner may not give us a clear indication of the productive activity.
Several economic activities may have a negative impact on society and the environment. For example, mining may cause respiratory issues among the laborers and construction may cause air pollution. Such negative externalities not only affect the welfare of people, but also affect productivity in the long term. GDP not including such externalities leads to overestimation. -
Question 5 of 10
5. Question
2 pointsWhich of the following statements are true about MANAV: Human Atlas Initiative?
1.MANAV Project aims to create an open and interactive atlas of human biology.
2.For the first time, Indian scientists will be mapping every single tissue of the human body to have a deeper understanding of the roles of tissues and cells linked to various diseases.
3.Participating institutes include National Centre for Cell Science (NCCS) and Indian Institute of Science, Education and Research (IISER), Pune.
Choose the correct answer using the codes given belowCorrect
Manav-Human Atlas Initiative aims to construct a comprehensive map of the entire human body which will explicitly document macro to micro level information. The project Manav will dramatically accelerate our understanding of the working of the human body and help design better therapeutic targets for treating diseases like cancer, diabetes and more. This project will require understanding, extracting and collating information from millions of scientific papers which would need a massive investment of time, effort and manpower.
Incorrect
Manav-Human Atlas Initiative aims to construct a comprehensive map of the entire human body which will explicitly document macro to micro level information. The project Manav will dramatically accelerate our understanding of the working of the human body and help design better therapeutic targets for treating diseases like cancer, diabetes and more. This project will require understanding, extracting and collating information from millions of scientific papers which would need a massive investment of time, effort and manpower.
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Question 6 of 10
6. Question
2 pointsMatch the following defence projects with their descriptions
- Chinook
1. first long-range artillery gun to be produced in India. It has an auto-loading facility and onboard ballistic computer system. - Tejas
2. indigenous multi-barrel rocket launch system, which has been developed by the Defence Research and Development Organisation. It has a state-of-the-art guidance kit bolstered by an advanced navigation and control system. - Pinaka
3. It is the smallest, lightweight, multirole, single-engine tactical fighter aircraft in the world. - Dhanush
4. It is an advanced multi-mission helicopter that will provide the Indian Air Force with unmatched strategic airlift capability across the full spectrum of combat and humanitarian missions. Choose the correct answer using the codes given below
Correct
Incorrect
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Question 7 of 10
7. Question
2 pointsMatch the following malwares with their functioning
- Ransomware
1. It is capable of copying itself and spreading to other computers. It can be used to steal information, harm host computers and networks. - Trojan horse
2. The malware restricts user access to the computer either by encrypting files on the hard drive or locking down the system and displaying messages that are intended to force the user to pay the malware creator to remove the restrictions and regain access to their computer - Virus
3. It disguises itself as a normal file or program to trick users into downloading and installing malware. It can give a malicious party remote access to an infected computer. - Worm
4. They are standalone computer malware. They typically cause harm to their host networks by consuming bandwidth and overloading web servers. Choose the correct answer using the codes given below
Correct
Incorrect
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Question 8 of 10
8. Question
2 pointsWhich of the following statements are true about black holes?
1.A black hole is a region of space-time, which exhibits the property of extremely intense gravitational force, which is so strong, that even light can’t escape it.
2.Black holes were predicted by Newton’s theory of general relativity, which showed that when a massive star dies, it leaves behind a small, dense remnant core.
3.In the center of a black hole is a gravitational singularity, a one-dimensional point which contains a huge mass in an infinitely small space, where density and gravity become infinite and space-time curves infinitely, and the laws of physics as we know them cease to operate.
Choose the correct answer using the codes given belowCorrect
Black holes were predicted by Einstein’s theory of general relativity. The Event Horizon Telescope has captured the just outside region of a black hole, located 55 million light-years from Earth, at the centre of a galaxy named Messier 87. The image shows a photon (light quantum) can orbit the black hole without falling in. This is called the ‘last photon ring’
Incorrect
Black holes were predicted by Einstein’s theory of general relativity. The Event Horizon Telescope has captured the just outside region of a black hole, located 55 million light-years from Earth, at the centre of a galaxy named Messier 87. The image shows a photon (light quantum) can orbit the black hole without falling in. This is called the ‘last photon ring’
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Question 9 of 10
9. Question
2 pointsConsider the following statements regarding Mission Zero Accident
1. It is an initiative of the Ministry of road transport and highways, to eliminate deaths due to road accidents.
2. In order to improve signaling, electronic interlocking systems with centralized operation of points and signals are being provided to eliminate human failure and to replace old mechanical systems.
Which of the above statements are true?Correct
The mission is an initiative of the Ministry of Railways. Elimination of unmanned crossings and train collision avoidance systems are the 2 submissions. Further, railway tracks are replaced through track renewal works which is an ongoing process. Superior and safer Linke Hofmann Busch (LHB) Coaches having anti-climbing features have been progressively introduced on Indian Railways to reduce the fatalities in case of accidents. All staff including safety category staff are made to undergo structured training on a regular basis at various stages of their career. Safety category staff are also given training in Disaster Management with emphasis on Relief, Rescue and Rehabilitation.
Incorrect
The mission is an initiative of the Ministry of Railways. Elimination of unmanned crossings and train collision avoidance systems are the 2 submissions. Further, railway tracks are replaced through track renewal works which is an ongoing process. Superior and safer Linke Hofmann Busch (LHB) Coaches having anti-climbing features have been progressively introduced on Indian Railways to reduce the fatalities in case of accidents. All staff including safety category staff are made to undergo structured training on a regular basis at various stages of their career. Safety category staff are also given training in Disaster Management with emphasis on Relief, Rescue and Rehabilitation.
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Question 10 of 10
10. Question
2 pointsWhich of the following are the features of Innovate in India program?
1. It is an industry- academia collaborative mission of the Department of Biotechnology in collaboration with the World Health Organization.
2. The program will specifically focus on the development of new vaccines, bio-therapeutics, diagnostics and medical devices.
Choose the correct answer using the codes given belowCorrect
It is a collaborative mission of the Department of Biotechnology and World Bank and implemented by the Biotechnology Industry Research Assistance Council (BIRAC). The programme will help deliver 6-10 new products in the next five years, create several dedicated facilities for next-generation skills, and hundreds of jobs in the process. The initial focus will be on Vaccines for HPV, Dengue and biosimilars for cancer, diabetics and rheumatoid arthritis and medical devices and diagnostics.
Incorrect
It is a collaborative mission of the Department of Biotechnology and World Bank and implemented by the Biotechnology Industry Research Assistance Council (BIRAC). The programme will help deliver 6-10 new products in the next five years, create several dedicated facilities for next-generation skills, and hundreds of jobs in the process. The initial focus will be on Vaccines for HPV, Dengue and biosimilars for cancer, diabetics and rheumatoid arthritis and medical devices and diagnostics.