Current Affairs Quiz : June 03 2021

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1.

With reference to Covid, what are ‘Kappa’ and ‘Delta’?

   A.) New Measure of Covid spread rate
   B.) New Labels for Covid variants
   C.) New Global vaccine initiatives
   D.) New category in Covid positivity rate

Answer: Option 'B'

New Labels for Covid variants

The World Health Organization (WHO) has announced new labels, using Greek alphabets, for various variants of the coronavirus disease (Covid-19). As per the WHO, Covid variant first found in India (B1.617.2) will be referred to as Delta, while earlier found variant in the country (B.1.617.1) will be known as Kappa.

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2.

When was One Nation, One Standard scheme launched?

   A.) 2018
   B.) 2019
   C.) 2017
   D.) 2020

Answer: Option 'B'

2019

The objective of the government's 'One Nation, One Standard' scheme, launched in 2019, is to ensure there is a synergy and no overlap in the standardisation work in the country, thereby building a 'Brand India' identity in the long run.

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3.

Which of the following is not a method to calculate the Gross Domestic Product (GDP)?

   A.) Diminishing cost
   B.) Income law
   C.) Product method
   D.) Expenditure method

Answer: Option 'A'

Diminishing cost

There are 3 methods used for calculating national income namely; Income method, expenditure method, and Product method. The diminishing cost method is not a method to calculate national income.

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4.

Which country is the fourth-largest economy in the world in terms of nominal GDP?

   A.) Britain
   B.) Japan
   C.) Germany
   D.) Russia

Answer: Option 'C'

Germany

Germany is the fourth-largest economy in the world based on nominal GDP. size of the German economy is $ 3.86 trillion.

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5.

Which of the following markets are independently regulated by Forward Market Commission?

   A.) Mutual Funds
   B.) Commodity Futures Market
   C.) Foreign Exchange Markets
   D.) Stock Market

Answer: Option 'B'

Commodity Futures Market

Commodities futures contracts are agreements to buy or sell a raw material at a specific date in the future at a particular price. The contract is for a set amount. It specifies when the seller will deliver the asset. It also sets the price. Some contracts allow a cash settlement instead of delivery.

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6.

Who releases data of national income in India?

   A.) NSSO
   B.) CSO
   C.) NITI Aayog
   D.) None of the above

Answer: Option 'B'

CSO
The GDP figures in India are released by the Central Statistics Office (CSO), which comes under the Ministry of Statistics and Program Implementation (MOSPI).

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7.

Which of the following is/are the potential impact(s) of sale of Government securities by the Reserve Bank of India? Increase in liquidity in the market. Increase in interest rates. Select the correct answer using the code given below:

   A.) Only 1
   B.) Only 2
   C.) Both 1 and 2
   D.) Neither 1 nor 2

Answer: Option 'B'

Only 2
When the RBI feels that there is excess liquidity in the market, it resorts to sale of securities thereby sucking out the rupee liquidity. Similarly, when the liquidity conditions are tight, RBI may buy securities from the market, thereby releasing liquidity into the market.

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8.

In which year World Neglected Tropical Diseases Day observed first informally?

   A.) 2021
   B.) 2020
   C.) 2019
   D.) 2018

Answer: Option 'B'

2020

In 2020, the first World NTD Day was observed informally. These are infections that primarily affect marginalised communities in Africa, Asia, and the Americas. It is caused by a variety of pathogens, including viruses, bacteria, protozoa, and parasitic worms.

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9.

Which country has discovered a new coronavirus strain named ‘D614G’, which is claimed to be more infectious?

   A.) China
   B.) US
   C.) Malaysia
   D.) UK

Answer: Option 'C'

Malaysia

A new strain of coronavirus has been detected in Malaysia which is found to be 10 times more infectious than the existing Corona virus. The mutated form of the virus called D614G was found in 3 of the 45 cases in a test cluster. The detection of new strain has implied that studies on COVID 19 vaccines may be incomplete or ineffective against the mutation. WHO has explained that the new strain will not cause a more severe disease.

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10.

When was World Neglected Tropical Diseases Day observed?

   A.) Jan 30
   B.) Jun 30
   C.) Jun 03
   D.) Jan 31

Answer: Option 'A'

Jan 30

The 74th World Health Assembly unanimously approved a proposal from the United Arab Emirates to designate January 30 as “World Neglected Tropical Diseases (NTD) Day.”

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