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Daily-mcqs 04 Feb 2025
Q1:
What is the primary function of a cryptocurrency?
A: A digital form of investment
B: A medium of exchange and virtual accounting system
C: A platform for online transactions
D: A type of digital wallet
Answer: B
Explanation:
A medium of exchange and virtual accounting system. Cryptocurrencies, such as Bitcoin and Ethereum, function as a medium of exchange, allowing users to buy and sell goods and services. They also serve as a virtual accounting system, recording transactions on a public ledger called a blockchain.
Q2:
Assertion(A): The U.S. imposition of tariffs on Canada, Mexico, and China could lead to a trade war that disrupts global trade relations. Which of the options given below is/are correct?
Reason(R): Trade wars starts when each country retaliates by imposing higher tariffs or other trade barriers.
A: Both A and R are true and R is the correct explanation for A.
B: Both A and R are true but R is not the correct explanation for A.
C: A is true, while R is false.
D: A is false, while R is true.
Answer: A
Explanation:
Assertion is true: The U.S. imposition of tariffs on Canada, Mexico, and China could lead to a trade war that disrupts global trade relations.
Reason also true: When the U.S. imposes tariffs on its major trade partners, such as Canada, Mexico, and China, these countries will respond with their own tariffs. This back-and-forth escalation of tariffs can create a trade war, where the global flow of goods is impeded, and both countries involved face higher costs. Thus Both A and R are true and R is the correct explanation for A.
Q3:
What is the value of India's goods exported to the U.S. in 2023?
A: $10 billion
B: $15 billion
C: $20 billion
D: $25 billion
Answer: C
Explanation:
India exported $20 billion worth of goods to the U.S. in 2023.
Q4:
Consider the following statements with reference to Union Budget 2025-2026: 1. The FDI limit for the insurance sector is increased from 74% to 100% for companies that invest their entire premium in India. 2. Fiscal deficit is targeted at 4.4% of GDP in 2025-26. 3. Individuals earning up to ₹12 lakh annually will not have to pay income tax under the new tax regime. 4. The Makhana Board in Uttar Pradesh will be established to improve production. Which of the statements given above are correct?
A: 1, 2 and 3 only
B: 2 and 3 only
C: 4 only
D: 1, 3 and 4 only
Answer: A
Explanation:
o statement 1 is correct. As per the Union Budget 2025-2026, there has been increase in the FDI limit for the insurance sector to 100% in exchange for investing premiums within India.
o Statement 2 is correct. The Union Budget 2025-2026 has set the fiscal deficit target at 4.4% of GDP, reflecting the government's approach to maintaining fiscal consolidation while addressing economic priorities.
o Statement 3 is correct. Individuals earning up to ₹12 lakh annually will not have to pay income tax under the new tax regime.
o statement 4 is incorrect. Makhana Board will be established in Bihar, and not in UP.
Q5:
Consider the following statements regarding Cardamom species: 1. Cardamom is a plant that belongs to the ginger family and is native to northern India. 2. The optimal temperature range for growing cardamom is between 10°C and 35°C. 3. Cardamom thrives in acidic soil with a pH range of 5.0 to 6.5 and requires substantial rainfall between 1500 to 4000 mm annually. 4. Cardamom can be cultivated at elevations of 2000 to 3000 meters above sea level for optimal growth. Which of the statements given above are correct?
A: 1, 2, and 3 only
B: 2 and 3 only
C: 3 and 4 only
D: 1, 2, 3, and 4
Answer: B
Explanation:
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