Economy Current Affairs Quiz/Questions-Answers November 2012, 26 November-2 December

By the last week of November 2012 many major economic decisions were taken by the RBI, Government of India and other bodies of significance.

Created On: Dec 1, 2012 15:32 IST
Modified On: Dec 3, 2012 15:51 IST

By the last week of November 2012 many major economic decisions were taken by the RBI, Government of India and other bodies of significance. The provided section of Quizzes will help you in knowing the new happenings and testing your knowledge about things that occurred in previous three weeks of the month.

1. Which of the following statements mentioned below is/are incorrect?
a) Global Gasoline Rates helps in creating a benchmark in fixing the price of petrol in the domestic market.  
b) Oman that is the biggest egg export market of India issued the ban following the recommendations of the World Organisation for Animal Health about the outbreak of bird-flu was confirmed by the Government run Turkey Farm at Hesaraghatta, Karnataka in the month of October.
c) Petrol Prices in Indian market on 15 November 2012 was slashed by 95 paise per litre. The decision came up as a result of the fall in oil prices in the International Market.
d) The Union Government of India in June 2010 deregulated the prices of petrol by offering freedom to the oil companies for fixing the petrol rates following the costs prevalent in the international market.
i.  All the four statements are true
ii. Statement a is true
iii. Statement a and b are true
iv. Statements a, b and d are true

Answer. (i) All the four statements are true

2. Which of the following statements is/are False?
a) The GAIL Gas Limited and the Rajasthan State Petroleum Corporation Limited (RSPCL) signed an agreement of Joint Venture on 5 November 2012 to lay down the natural gas supply pipeline in the state. Both the bodies will together formulate a long-term plan on commercial, domestic as well as industrial consumption of the gas.
b) The Union Government in November 2012 announced a revised Minimum Support Price (MSP) for cotton and this would help in inducing stabilisation in cotton price
c) The South African Reserve Bank in November 2012 rolled out new bank notes bearing the face of the country’s first black President Nelson Mandela marking it as a tribute to him.
d) The Civil Aviation Ministry in the first week of November 2012 disapproved new traffic rights to Indian carriers for the next three seasons to expand international air travel out of the country. The new cities include Rome, Madrid, Barcelona, Sydney, Melbourne, Nairobi, Al Najaf in Iraq, Moscow, Zurich, Macau, Tashkent and Ho Chi Minh City
i. Statement a and d are false
ii. Statement b and c are false
iii. Statement d is false
iv. Statement a, b, c and d are false

Answer. (iii) Statement d is false

3. Name the Indian Oil's Refinery that was awarded the Platinum Award in the 13th Annual Greentech Environment Awards.
a) Indian Oil's Jaipur Refinery
b) Indian Oil's Mathura Refinery
c) Indian Oil's Digboi Refinery
d) Indian Oil's Panipat Refinery

Answer. (b) Indian Oil's Mathura Refinery

4. The World Development Report 2013: Jobs was released by the a particular organization that stressed upon the role of strong private sector in creation of jobs, outlining the facts that how can the jobs encourage development and incite an honest cycle. Name the organization that issued the report?
a) World Bank
c) World Economic Forum
d) UNO

Answer. (a) World Bank
What was the theme of the 14 days India International Trade Fair that was celebrated in Delhi in November 2012?
a) Environment management
b) Looking at future endeavors
c) India and holistic vision to fine arts
d) Skilling India

Answer. (d) Skilling India