Quiz Details

1.  
Operation Cactus’, recently in the news, refers to

[A] To stop/invasion Russia – Ukraine war by NATO
[B] The United States’ recent attempts at regime change in Venezuela
[C] India’s military intervention in the Maldives in 1988
[D] India’s 2016 surgical strikes on terror launch pads in PoK

Correct Answer: C [India’s military intervention in the Maldives in 1988]

Notes:

The 1988 Maldives coup d'état attempt was by a group of Maldivians led by businessman Abdullah Luthufi and assisted by armed mercenaries of a Tamil secessionist organisation from Sri Lanka, the People's Liberation Organisation of Tamil Eelam, to overthrow the government in the island republic of Maldives.

2.  
Consider the following statements in the context of the Indian economy: 1.The Gross Fixed Capital Formation (GFCF) as a percentage of GDP has gradually rising since mid-2000s 2.Savings rate as a percentage of GDP has been gradually rising since mid-2000s. Which of the statements given above is/are correct?

[A] 1 only
[B] 2 only
[C] Both 1 and 2
[D] Neither 1 nor 2

Correct Answer: D [Neither 1 nor 2]

Notes:

Gross fixed capital formation is a macroeconomic concept used in official national accounts such as the United Nations System of National Accounts, National Income and Product Accounts and the European System of Accounts.

 

3.  
Section 3 of the Indian Patents Act, 1970 belongs to the chapter titled

[A] Applications for Patents
[B] Opposition proceedings to grant of patents
[C] Powers of Controller General of Patents, Designs and Trade Marks
[D] Inventions not patentable

Correct Answer: D [Inventions not patentable]

Notes:

The Patents Act 1970 had a very limited scope of protection wherein the essential elements of invention were new, useful and manner of manufacture. Even though manufacture was not defined in the old Act, the Patent Office established the practice of interpreting manufacture as process resulting in a tangible product.

4.  
Consider the following statements in the context of the Indian economy: 1.The government slipping on its fiscal goal causes the crowding out effect 2.The fiscal deficit has been budgeted at 3.3% of GDP for 2018-19, 3.1% for 2019-20 and 3% for 2020-21 Which of the statements given above is/are incorrect?

[A] 1 only
[B] 2 only
[C] Both 1 and 2
[D] Neither 1 nor 2

Correct Answer: D [Neither 1 nor 2]

Notes:

In economics, crowding out is a phenomenon that occurs when increased government involvement in a sector of the market economy substantially affects the remainder of the market, either on the supply or demand side of the market.

5.  
Consider the following statement 1.UDAN is the world’s first Regional Connectivity Scheme to Connect un-served & Under-served airports at affordable prices. 2.FICCI is the largest & oldest apex organisation of Indian business & in-dustry is the rallying point for free enterprises in India. Select the correct code

[A] 1 only
[B] 2 only
[C] Both 1 and 2
[D] Neither 1 nor 2

Correct Answer: C [Both 1 and 2]

Notes:

It is the world's first Regional Connectivity Scheme to Connect un-served & Under-served airports at affordable prices contributing to boost regional tourism and economic growth of the country. With commencing of the desired operations, the Indian aviation sector will boom without accounting for the spillover traffic on commercial routes operating in the tier-1 and tier-2 cities.

FICCI is the largest & oldest apex organisation of Indian business & industry is the rallying point for free enterprises in India. It was established in 1927. With a nationwide membership of over 1500 corporates and over 500 chambers of commerce and business associations, FICCI speaks directly and indirectly for over 2,50,000 business units. FICCI organises a large number of events including Exhibitions, Conferences, Seminars, Business meets etc. for promoting business.