UPSC Prelims Daily Current Affairs Test: April 24-25, 2022
April 25, 2022 April 25, 2022
1. With respect to India, which of the following is/are implied by a deficit on the current account (CAD)?
- India imports more goods and services than it exports.
- Demand for the foreign currency is less than the demand for the Indian rupee.
- During CAD, Indian rupee will depreciate.
Choose the correct answer using the codes given below:
[A] Only 1 & 2
[B] Only 2 & 3
[C] Only 1 & 3
[D] 1, 2 & 3
Show Answer
Correct Answer: C [Only 1 & 3]
Notes:- The current account measures the flow of goods, services, and investments into and out of the country. When a country imports more goods (everything from cars to phones to machinery to food grains etc.) than it exports. In such a case, it would have a “deficit” on its trade account. In other words, more money is going out of the country than coming in via the trade of physical goods.
- Having a CAD or a deficit on the current account implies that, in monetary terms, India imports more goods and services than it exports. This, in turn, implies that the demand for the foreign currency (say the US dollar) is more than the demand for the Indian rupee.
- That, in turn, implies that the rupee will depreciate. Whether or not it eventually does depreciate, however, depends on what is happening to the Capital Account of the BoP (Balance of Payment).
2. Which of the following organizations has released the report that showed that YouTube’s creator ecosystem contributed Rs 6,800 crore to the Indian GDP in 2020?
[A] World Bank
[B] The International Association of Social Media Professionals
[C] The Action Network
[D] Oxford Economics
Show Answer
Correct Answer: D [Oxford Economics]
Notes:- The Creator Economy basically refers to all the players that operate in and around the value that is created by creators. This includes social media, blogs, and video content – by creating original content or repurposing it.
- YouTube unveiled a new report by Oxford Economics, an independent consulting firm, that showed that YouTube’s creator ecosystem contributed Rs 6,800 crore to the Indian GDP in 2020. YouTube also supported 6,83,900 full-time equivalent jobs in India in the same year, as per the report.
3. Which of the following historical personalities was/were associated with the American Revolution?
- Nathanael Greene
- Henry Knox
- Marquis de Lafayette
- George Washington
Choose the correct answer using the codes given below:
[A] Only 1, 2 & 3
[B] Only 2, 3 & 4
[C] Only 1, 3 & 4
[D] 1, 2, 3 & 4
Show Answer
Correct Answer: D [1, 2, 3 & 4]
Notes:- Nathanael Greene’s rise to prominence as one of the most skilled and celebrated generals of the American Revolution. He was one of the most respected generals of the Revolutionary War (1775-83).
- Henry Knox was an American military officer who was a senior general of the Continental Army and later the United States Army. He was close to George Washington, who appointed him first United States Secretary of War from 1789 to 1794.
- Marquis de La Fayette was a French aristocrat and military officer who fought in the American Revolutionary War, commanding American troops in several battles, including the siege of Yorktown.
- George Washington was an American military officer, statesman, and Founding Father who served as the first president of the United States from 1789 to 1797.
