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Question 1 of 5
1. Question
1 pointsConsider the following statements:
1. The CPI is a measure that examines the weighted average of prices of all consumer goods and services.
2. The central bank currently uses wholesale price (WPI) as a key measure of inflation to set the monetary and credit policy.Which of the statement given above is/are correct?
Correct
Explanation:
About CPI:
The CPI is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.
It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. Changes in the CPI are used to assess price changes associated with the cost of living.
The CPI is one of the most frequently used statistics for identifying periods of inflation or deflation.
Essentially it attempts to quantify the aggregate price level in an economy and thus measure the purchasing power of a country’s unit of currency.Types of CPI in India
CPI in India comprises multiple series classified based on different economic groups.
There are four series, viz the CPI UNME (Urban Non-Manual Employee), CPI AL (Agricultural Labourer), CPI RL (Rural Labourer) and CPI IW (Industrial Worker).
While the CPI UNME series is published by the Central Statistical Organisation, the others are published by the Department of Labour.
From February 2011 the CPI (UNME) released by CSO is replaced as CPI (urban), CPI (rural) and CPI (combined).How it is different from WPI?
CPI is different from WPI, or Wholesale Price Index, which measures inflation at the wholesale level.
While WPI keeps track of the wholesale price of goods, the CPI measures the average price that households pay for a basket of different goods and services.
WPI measures and tracks the changes in the price of goods before they reach consumers; goods that are sold in bulk and traded between entities or businesses (rather than consumers).
Even as the WPI is used as a key measure of inflation in some economies, the RBI no longer uses it for policy purposes, including setting repo rates.
The central bank currently uses CPI or retail inflation as a key measure of inflation to set the monetary and credit policy.Incorrect
Explanation:
About CPI:
The CPI is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.
It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. Changes in the CPI are used to assess price changes associated with the cost of living.
The CPI is one of the most frequently used statistics for identifying periods of inflation or deflation.
Essentially it attempts to quantify the aggregate price level in an economy and thus measure the purchasing power of a country’s unit of currency.Types of CPI in India
CPI in India comprises multiple series classified based on different economic groups.
There are four series, viz the CPI UNME (Urban Non-Manual Employee), CPI AL (Agricultural Labourer), CPI RL (Rural Labourer) and CPI IW (Industrial Worker).
While the CPI UNME series is published by the Central Statistical Organisation, the others are published by the Department of Labour.
From February 2011 the CPI (UNME) released by CSO is replaced as CPI (urban), CPI (rural) and CPI (combined).How it is different from WPI?
CPI is different from WPI, or Wholesale Price Index, which measures inflation at the wholesale level.
While WPI keeps track of the wholesale price of goods, the CPI measures the average price that households pay for a basket of different goods and services.
WPI measures and tracks the changes in the price of goods before they reach consumers; goods that are sold in bulk and traded between entities or businesses (rather than consumers).
Even as the WPI is used as a key measure of inflation in some economies, the RBI no longer uses it for policy purposes, including setting repo rates.
The central bank currently uses CPI or retail inflation as a key measure of inflation to set the monetary and credit policy. -
Question 2 of 5
2. Question
1 pointsWhich among the following species of Vulture has been listed as a critically endangered by IUCN?
1. Oriental white-backed vulture (Gyps bengalensis)
2. Slender-billed vulture (Gyps tenuirostris)
3. Long-billed vulture (Gyps indicus)Select the correct answer using the code below:
Correct
Explanation:
Uttar Pradesh, Tripura, Maharashtra, Karnataka and Tamil Nadu will get a vulture conservation and breeding centre each, according to the Action Plan for Vulture Conservation 2020-2025.
Action Plan for Vulture Conservation
The action plan was approved by the National Board for Wildlife (NBWL) October 5, 2020. An earlier one was formulated in 2006 for three years.
The new plan has laid out strategies and actions to stem the decline in vulture population, especially of the three Gyps species:
Oriental white-backed vulture (Gyps bengalensis)
Slender-billed vulture (Gyps tenuirostris)
Long-billed vulture (Gyps indicus)
Note: These three vulture species were listed by IUCN, in 2000 as ‘Critically Endangered’, which is the highest category of endangerment.Incorrect
Explanation:
Uttar Pradesh, Tripura, Maharashtra, Karnataka and Tamil Nadu will get a vulture conservation and breeding centre each, according to the Action Plan for Vulture Conservation 2020-2025.
Action Plan for Vulture Conservation
The action plan was approved by the National Board for Wildlife (NBWL) October 5, 2020. An earlier one was formulated in 2006 for three years.
The new plan has laid out strategies and actions to stem the decline in vulture population, especially of the three Gyps species:
Oriental white-backed vulture (Gyps bengalensis)
Slender-billed vulture (Gyps tenuirostris)
Long-billed vulture (Gyps indicus)
Note: These three vulture species were listed by IUCN, in 2000 as ‘Critically Endangered’, which is the highest category of endangerment. -
Question 3 of 5
3. Question
1 pointsThe Blue Dot Network recently seen in news is a global alliance for:
Correct
Explanation:
The Blue Dot Network
Blue Dot is a US-led collaboration with Australia and Japan that supports private-sector-led infrastructure financing opportunities in response to China’s Belt and Road Initiative (BRI).
It was formally announced on 4 November 2019 at the Indo-Pacific Business Forum in Bangkok, Thailand on the sidelines of the 35th ASEAN Summit.
It is led by the U.S. International Development Finance Corporation, Japan Bank for International Cooperation, and Department of Foreign Affairs and Trade of Australia.
It is expected to serve as a global evaluation and certification system for roads, ports and bridges with a focus on the Indo-Pacific region.Incorrect
Explanation:
The Blue Dot Network
Blue Dot is a US-led collaboration with Australia and Japan that supports private-sector-led infrastructure financing opportunities in response to China’s Belt and Road Initiative (BRI).
It was formally announced on 4 November 2019 at the Indo-Pacific Business Forum in Bangkok, Thailand on the sidelines of the 35th ASEAN Summit.
It is led by the U.S. International Development Finance Corporation, Japan Bank for International Cooperation, and Department of Foreign Affairs and Trade of Australia.
It is expected to serve as a global evaluation and certification system for roads, ports and bridges with a focus on the Indo-Pacific region. -
Question 4 of 5
4. Question
1 pointsWith reference to Superconductivity, consider the following statement:
1. Superconductivity occurs when two electrons bind together at high temperatures.
2. Superconductors material can be used to build a quantum computer.Which of the statement given above is/are correct?
Correct
Explanation:
What is Superconductivity?
A superconductor is a material, such as a pure metal like aluminium or lead, that when cooled to ultra-low temperatures allows electricity to move through it with absolutely zero resistance.
Kamerlingh Onnes was the first scientist who figured out exactly how superconductor works in 1911.
Simply put, superconductivity occurs when two electrons bind together at low temperatures.
They form the building block of superconductors, the Cooper pair.
This holds true even for a potential superconductor like lead when it is above a certain temperature.
What is the new material?
A new material composed of carbon, hydrogen and sulphur superconducts at 15 degrees Celsius.
However, it needs ultrahigh pressure of about 2 million atmospheres to achieve this transition, putting off any thoughts of application to the future.
The pressure they needed was 267 Gigapascals (GPa), or 2.6 million atmospheres.
The pressure at the centre of the Earth is 360 GPa, so it is 75% of the pressure at the centre of the Earth.
What are Superconductors?
Superconductors are materials that address this problem by allowing energy to flow efficiently through them without generating unwanted heat.
They have great potential and many cost-effective applications.
They operate magnetically levitated trains, generate magnetic fields for MRI machines and recently have been used to build quantum computers, though a fully operating one does not yet existIncorrect
Explanation:
What is Superconductivity?
A superconductor is a material, such as a pure metal like aluminium or lead, that when cooled to ultra-low temperatures allows electricity to move through it with absolutely zero resistance.
Kamerlingh Onnes was the first scientist who figured out exactly how superconductor works in 1911.
Simply put, superconductivity occurs when two electrons bind together at low temperatures.
They form the building block of superconductors, the Cooper pair.
This holds true even for a potential superconductor like lead when it is above a certain temperature.
What is the new material?
A new material composed of carbon, hydrogen and sulphur superconducts at 15 degrees Celsius.
However, it needs ultrahigh pressure of about 2 million atmospheres to achieve this transition, putting off any thoughts of application to the future.
The pressure they needed was 267 Gigapascals (GPa), or 2.6 million atmospheres.
The pressure at the centre of the Earth is 360 GPa, so it is 75% of the pressure at the centre of the Earth.
What are Superconductors?
Superconductors are materials that address this problem by allowing energy to flow efficiently through them without generating unwanted heat.
They have great potential and many cost-effective applications.
They operate magnetically levitated trains, generate magnetic fields for MRI machines and recently have been used to build quantum computers, though a fully operating one does not yet exist -
Question 5 of 5
5. Question
1 pointsConsider the following statements:
1. The Factories Act, 1881 was passed with a view to fix the wages of industrial workers and to allow the workers to form trade unions.
2. M. Lokhande was a pioneer in organizing the labour movement in British India.
Which of the above statements is/are correct?
Correct
Explanation:
There was no provision for fixed wage and formation of trade unions in the Act. The Act introduced some measures to safeguard child-workers. It prohibited employment of children under seven years. It also reduced the number of working hours for children below 12 years and mandated that dangerous machinery be fenced adequately. It also provided for an hour’s rest during work hours for workers and also gave them 4 days leave in a month.
Incorrect
Explanation:
There was no provision for fixed wage and formation of trade unions in the Act. The Act introduced some measures to safeguard child-workers. It prohibited employment of children under seven years. It also reduced the number of working hours for children below 12 years and mandated that dangerous machinery be fenced adequately. It also provided for an hour’s rest during work hours for workers and also gave them 4 days leave in a month.
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Dear Nitesh Gughane,
Thank you very much for posting these 5 question quizzes every day. I really look forward to these. I missed these after 1st October when you were not posting them. However, I am glad that you have started posting them again. On behalf of everyone who takes these quizzes on a daily basis I would request you to keep posting on a daily basis. They are really helpful. And once again thank you very much for your hard work.