Current Affairs 2021 PDF

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Management Questions and Answers for Competitive Exams | MBA BBA Quiz Set 48

1 National income equilibrium is not at the level where
1 aggregate investment equals aggregate savings
2 aggregate expenditure equals aggregate income
3 inflationary and deflationary gaps are absent
4 none of these

Answer: none of these
2 The four types of social responsibility include :
1 Legal, Philanthropic, Economic and Ethical
2 Ethical, Moral, Social and Economic
3 Philanthropic, Justice, Economic and Ethical
4 Legal, Moral, Ethical and Economic

Answer:Legal, Philanthropic, Economic and Ethical
3 From the following statements relating to WTO agreements, choose the statements that are correct :

Statement I : Diversity in technical regulations and industrial standards among countries leads to the introduction of TBT (Technical Barriers to trade) Agreements.

Statement II : The aim of WTO agreements on customs valuation is to ensure a fair, uniform and neutral system for the valuation of goods for customs purposes.

Statement III : The agreement on Trade Related Investment Measures (TRIMs) applies only to measures that affect trade in goods.

Codes :
1 Statements I and II only are correct.
2 Only statement I is correct.
3 Only statements II and III are correct.
4 All the statements are correct.

Answer: All the statements are correct.
4 If the spot rate of US dollar is ` 60 and one mouth forward rate is ` 62, the forward rate premium (p) will be
1 40%
2 (–)40%
3 33%
4 (–)33%

Answer: 40%
5 For which of the following sectors, the FDI cap/equity is 100% ?

i. Mining including exploration and mining of diamonds.

ii. Defence production

iii. Drugs and pharmaceuticals

iv. Insurance

v. Banking

vi. Power (except atomic energy)

Codes :
1 i, iii, iv and vi
2 i, iii, iv and v
3 i, ii and vi
4 i, iii and vi

Answer: i, iii and vi
6 As per the Foreign Trade (Development and Regulation) Act, 1992, who advises the Central Government in the formulation of Export and Import Policy ?
1 Chief controller of Imports and Exports
2 Director General of Foreign Trade
3 Director General of Commercial Intelligence
4 Chief Controller of Foreign Trade

Answer: Director General of Foreign Trade
7 According to Eclectic theory of Foreign Direct Investment (FDI), the motivation behind FDI is/are
1 Capital and labour adequacy
2 Raw material and labour adequacy
3 Ownership, location and internalisation
4 Labour, capital market and internalisation

Answer:Ownership, location and internalisation
8 The following statements are related to patents. Using code indicate the statements that are not correct :

Statement I: Patent is aimed to encourage economic and technological development.

Statement II : Patent can be protected only for a limited period.

Statement III : The law of patent is international in its operation.

Statement IV : When the patent right expire, the technology becomes public property.

Codes :
1 Statements II, III and IV are not correct.
2 Statements II and IV are not correct.
3 Statement III is not correct.
4 Statement IV is not correct.

Answer:Statement III is not correct.
9 Pichot suggested three roles for the intrapreneur in promoting innovation. Indicate the correct answer.
1 Inventor, innovator and sponsor
2 Inventor, product champion and sponsor
3 Team builder, information source and advocate
4 Mould breaker, change agent and sponsor

Answer:Inventor, product champion and sponsor
10 Which of the following statements are not correct in relation to pre-shipment credit in foreign currency ?

Statement I : It is a foreign currency loan available, both, to the importers and exporters.

Statement II : It is self liquidating in nature and can be liquidated by purchasing/ discounting of bills.

Statement III : Refinance from RBI is available to banks against pre-shipment credit in foreign currency.

Statement IV : The interest rare shall not exceed 1.75% above six months, LIBOR for the initial period of one month.

Codes :
1 Statements I, II and III are not correct.
2 Statements I, III and IV are not correct.
3 Statement II and IV are not correct
4 Statement II and III are not correct.

Answer: Statements I, III and IV are not correct.
11 The small scale sector is the __________ largest employer of human resources in the country.
1 Single
2 Second
3 Third
4 Fourth

12 In case the price (P), quantity (Q),and changes ( ) are represented by respective symbols given in the brackets, the price elasticity of demand (Ed) is measured by
1 Ed = ( Q/Q)/( P/P)
2 Technical consultancy and financial assistance
3 Ed = P/ Q
4 Ed = ( P/P)/( Q/Q)

Answer:Ed = ( Q/Q)/( P/P)
13 Law of Diminishing Return applies when the gaps among the successive ‘multiple-level of output’ isoquants
1 decreases
2 remains constant
3 increases
4 remains irregular

14 In case the demand elasticity under imperfect competition is unity, the marginal revenue will be
1 more than utility, but less than infinity.
2 equal to unity.
3 less than unity, but more than zero.
4 equal to zero.

Answer:equal to zero.
15 Rise in general price level alongwith declining output in the economy is called
1 Inflation
2 Deflation
3 Stagflation
4 Demand-pull inflation


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