UPSC Editorials Quiz : 29 May 2024

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Introducing QUED – Questions from Editorials, an innovative initiative from InsightsIAS. Considering the significant number of questions in previous UPSC Prelims from editorials, practicing MCQs from this perspective can provide an extra edge. While we cover important editorials separately in our Editorial Section and SECURE Initiative, adding QUED to your daily MCQ practice alongside Static Quiz, Current Affairs Quiz, and InstaDART can be crucial for better performance. We recommend utilizing this initiative to enhance your preparation, with 5 MCQs posted daily at 11 am from Monday to Saturday on our website under the QUIZ menu. Best of luck! 🙂

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• Question 1 of 5 1. Question Consider the following statements regarding Standing Deposit Facility (SDF). The SDF is a financial stability tool in addition to its role in liquidity management. The SDF replaced the fixed rate reverse repo (FRRR) as the floor of the liquidity adjustment facility corridor. SDF will be available on all days of the week, throughout the year. How many of the above statements is/are correct? a) Only one b) Only two c) All three d) None Correct Solution: c) In 2018, the amended Section 17 of the RBI Act empowered the Reserve Bank to introduce the SDF – an additional tool for absorbing liquidity without any collateral. By removing the binding collateral constraint on the RBI, the SDF strengthens the operating framework of monetary policy. The SDF is also a financial stability tool in addition to its role in liquidity management. The SDF replaced the fixed rate reverse repo (FRRR) as the floor of the liquidity adjustment facility corridor. Both the standing facilities — the MSF (marginal standing facility) and the SDF will be available on all days of the week, throughout the year. Incorrect Solution: c) In 2018, the amended Section 17 of the RBI Act empowered the Reserve Bank to introduce the SDF – an additional tool for absorbing liquidity without any collateral. By removing the binding collateral constraint on the RBI, the SDF strengthens the operating framework of monetary policy. The SDF is also a financial stability tool in addition to its role in liquidity management. The SDF replaced the fixed rate reverse repo (FRRR) as the floor of the liquidity adjustment facility corridor. Both the standing facilities — the MSF (marginal standing facility) and the SDF will be available on all days of the week, throughout the year.

#### 1. Question

Consider the following statements regarding Standing Deposit Facility (SDF).

• The SDF is a financial stability tool in addition to its role in liquidity management.

• The SDF replaced the fixed rate reverse repo (FRRR) as the floor of the liquidity adjustment facility corridor.

• SDF will be available on all days of the week, throughout the year.

How many of the above statements is/are correct?

• a) Only one

• b) Only two

• c) All three

Solution: c)

In 2018, the amended Section 17 of the RBI Act empowered the Reserve Bank to introduce the SDF – an additional tool for absorbing liquidity without any collateral. By removing the binding collateral constraint on the RBI, the SDF strengthens the operating framework of monetary policy. The SDF is also a financial stability tool in addition to its role in liquidity management.

The SDF replaced the fixed rate reverse repo (FRRR) as the floor of the liquidity adjustment facility corridor. Both the standing facilities — the MSF (marginal standing facility) and the SDF will be available on all days of the week, throughout the year.

Solution: c)

• Question 2 of 5 2. Question Which of the following UN organizations has been awarded with Nobel Price twice? a) UNICEF b) ILO c) UNHCR d) IAEA Correct Solution: c) As of 2023, the Nobel Peace Prize has been awarded to 111 individuals and 27 organizations. The Office of the United Nations High Commissioner for Refugees has won twice (1954 and 1981). Incorrect Solution: c) As of 2023, the Nobel Peace Prize has been awarded to 111 individuals and 27 organizations. The Office of the United Nations High Commissioner for Refugees has won twice (1954 and 1981).

#### 2. Question

Which of the following UN organizations has been awarded with Nobel Price twice?

Solution: c)

As of 2023, the Nobel Peace Prize has been awarded to 111 individuals and 27 organizations. The Office of the United Nations High Commissioner for Refugees has won twice (1954 and 1981).

Solution: c)

As of 2023, the Nobel Peace Prize has been awarded to 111 individuals and 27 organizations. The Office of the United Nations High Commissioner for Refugees has won twice (1954 and 1981).

• Question 3 of 5 3. Question If India enters into Free Trade Agreements (FTAs) with other nations, then the growth of exports of India would depend upon which of the following? Level of Infrastructure in India. Extent of tariff reduction vis-à-vis MFN tariffs. Extent of relaxation in terms of rules of origin. Income in nations with which India enters into FTAs. Extent of relaxation in sanitary and phytosanitary measures How many of the above statements is/are correct? a) Only two b) Only three c) Only four d) All five Correct Solution: d) A free trade agreement is an arrangement between two or more countries where they agree either to end or reduce customs duties on the maximum number of goods traded between them, besides cutting down non-trade barriers on a significant value of imports from partner countries and easing norms to promote services exports and bilateral investments. Across the globe, over 350 FTAs are currently in force and most of the nations have signed one or more such agreements. Benefits of FTAs: Countries across the world negotiate these trade deals for several reasons. Zero-duty entry into partner country markets helps in the diversification and expansion of export markets. Level playing field vis-a-vis competitors who may have already entered FTAs with partner countries. FTAs enable preferential treatment in the partner country market over non-FTA member country competitors. Attracting foreign investment to stimulate domestic manufacturing. Access to raw materials, intermediate products and capital goods for value-added manufacturing. Long-term efficiency and consumer welfare goals. Incorrect Solution: d) A free trade agreement is an arrangement between two or more countries where they agree either to end or reduce customs duties on the maximum number of goods traded between them, besides cutting down non-trade barriers on a significant value of imports from partner countries and easing norms to promote services exports and bilateral investments. Across the globe, over 350 FTAs are currently in force and most of the nations have signed one or more such agreements. Benefits of FTAs: Countries across the world negotiate these trade deals for several reasons. Zero-duty entry into partner country markets helps in the diversification and expansion of export markets. Level playing field vis-a-vis competitors who may have already entered FTAs with partner countries. FTAs enable preferential treatment in the partner country market over non-FTA member country competitors. Attracting foreign investment to stimulate domestic manufacturing. Access to raw materials, intermediate products and capital goods for value-added manufacturing. Long-term efficiency and consumer welfare goals.

#### 3. Question

If India enters into Free Trade Agreements (FTAs) with other nations, then the growth of exports of India would depend upon which of the following?

• Level of Infrastructure in India.

• Extent of tariff reduction vis-à-vis MFN tariffs.

• Extent of relaxation in terms of rules of origin.

• Income in nations with which India enters into FTAs.

• Extent of relaxation in sanitary and phytosanitary measures

How many of the above statements is/are correct?

• a) Only two

• b) Only three

• c) Only four

• d) All five

Solution: d)

A free trade agreement is an arrangement between two or more countries where they agree either to end or reduce customs duties on the maximum number of goods traded between them, besides cutting down non-trade barriers on a significant value of imports from partner countries and easing norms to promote services exports and bilateral investments.

Across the globe, over 350 FTAs are currently in force and most of the nations have signed one or more such agreements.

Benefits of FTAs:

• Countries across the world negotiate these trade deals for several reasons.

• Zero-duty entry into partner country markets helps in the diversification and expansion of export markets.

• Level playing field vis-a-vis competitors who may have already entered FTAs with partner countries.

• FTAs enable preferential treatment in the partner country market over non-FTA member country competitors.

• Attracting foreign investment to stimulate domestic manufacturing.

• Access to raw materials, intermediate products and capital goods for value-added manufacturing.

• Long-term efficiency and consumer welfare goals.

Solution: d)

Across the globe, over 350 FTAs are currently in force and most of the nations have signed one or more such agreements.

Benefits of FTAs:

• Countries across the world negotiate these trade deals for several reasons.

• Zero-duty entry into partner country markets helps in the diversification and expansion of export markets.

• Level playing field vis-a-vis competitors who may have already entered FTAs with partner countries.

• FTAs enable preferential treatment in the partner country market over non-FTA member country competitors.

• Attracting foreign investment to stimulate domestic manufacturing.

• Access to raw materials, intermediate products and capital goods for value-added manufacturing.

• Long-term efficiency and consumer welfare goals.

• Question 4 of 5 4. Question The use of Plastics has led to number of environment related problems. In this context which of the following statements is correct? a) They do not have any biochemical synthesis activity. b) They are harmless to humans c) They do not get released into water and food d) They are non-biodegradable Correct Solution: d) Plastic is not biodegradable because it is made from fossil fuels and has strong bonds that microorganisms cannot break down. Incorrect Solution: d) Plastic is not biodegradable because it is made from fossil fuels and has strong bonds that microorganisms cannot break down.

#### 4. Question

The use of Plastics has led to number of environment related problems. In this context which of the following statements is correct?

• a) They do not have any biochemical synthesis activity.

• b) They are harmless to humans

• c) They do not get released into water and food

• d) They are non-biodegradable

Solution: d)

Plastic is not biodegradable because it is made from fossil fuels and has strong bonds that microorganisms cannot break down.

Solution: d)

Plastic is not biodegradable because it is made from fossil fuels and has strong bonds that microorganisms cannot break down.

• Question 5 of 5 5. Question Consider the following statements regarding UNESCO World Heritage Site. A World Heritage Site is an area or object recognised for its “outstanding universal value” under the Convention Concerning the Protection of the World Cultural and Natural Heritage 1972. Khangchendzonga National Park is the only site from India under the category of Mixed heritage site. India is among the top five countries with maximum number of UNESCO World Heritage Sites. How many of the above statements is/are incorrect? (a) Only one (b) Only two (c) All three (d) None Correct Solution: a) Statement 3 is incorrect. A World Heritage Site is an area or object listed on the UNESCO World Heritage List, recognised for its “outstanding universal value” under the Convention Concerning the Protection of the World Cultural and Natural Heritage 1972. These sites, categorised into three types – Cultural, Natural, and Mixed, are internationally acknowledged for their cultural, natural, or combined significance. As of 2023, there are 42 World Heritage Sites located in India. Out of these, 34 are cultural, 7 are natural, and one, the Khangchendzonga National Park, is of mixed type. India has the sixth-largest number of sites in the world. Incorrect Solution: a) Statement 3 is incorrect. A World Heritage Site is an area or object listed on the UNESCO World Heritage List, recognised for its “outstanding universal value” under the Convention Concerning the Protection of the World Cultural and Natural Heritage 1972. These sites, categorised into three types – Cultural, Natural, and Mixed, are internationally acknowledged for their cultural, natural, or combined significance. As of 2023, there are 42 World Heritage Sites located in India. Out of these, 34 are cultural, 7 are natural, and one, the Khangchendzonga National Park, is of mixed type. India has the sixth-largest number of sites in the world.

#### 5. Question

Consider the following statements regarding UNESCO World Heritage Site.

• A World Heritage Site is an area or object recognised for its “outstanding universal value” under the Convention Concerning the Protection of the World Cultural and Natural Heritage 1972.

• Khangchendzonga National Park is the only site from India under the category of Mixed heritage site.

• India is among the top five countries with maximum number of UNESCO World Heritage Sites.

How many of the above statements is/are incorrect?

• (a) Only one

• (b) Only two

• (c) All three

Solution: a)

Statement 3 is incorrect.

A World Heritage Site is an area or object listed on the UNESCO World Heritage List, recognised for its “outstanding universal value” under the Convention Concerning the Protection of the World Cultural and Natural Heritage 1972.

These sites, categorised into three types – Cultural, Natural, and Mixed, are internationally acknowledged for their cultural, natural, or combined significance.

As of 2023, there are 42 World Heritage Sites located in India. Out of these, 34 are cultural, 7 are natural, and one, the Khangchendzonga National Park, is of mixed type. India has the sixth-largest number of sites in the world.

Solution: a)

Statement 3 is incorrect.

These sites, categorised into three types – Cultural, Natural, and Mixed, are internationally acknowledged for their cultural, natural, or combined significance.

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