Quiz Questions 10 February 2023

The International Covenant on Civil and Political Rights (ICCPR) is a multilateral treaty adopted by United Nations General Assembly Resolution 2200A (XXI) on 16 December 1966, and in force from 23 March 1976 in accordance with Article 49 of the covenant. The covenant commits its parties to respect the civil and political rights of individuals, including the right to life, freedom of religion, freedom of speech, freedom of assembly, electoral rights and rights to due process and a fair trial. The ICCPR is part of the International Bill of Human Rights, along with the International Covenant on Economic, Social and Cultural Rights (ICESCR) and the Universal Declaration of Human Rights (UDHR). The ICCPR is monitored by the United Nations Human Rights Committee (a separate body to the United Nations Human Rights Council), which reviews regular reports of States parties on how the rights are being implemented. India is a party to the convention.

High and erratic inflation deters investors from making investment decisions because real returns on investments are uncertain.

Savings forms the base of the money that is borrowed for infrastructure building in the economy.

Low savings and high demand of capital lead to high borrowing costs and deter investors.

Economic efficiency is when goods and services are distributed according to consumer preferences and needs of corporations.

It is when the maximum number of goods and services are produced with a given amount of inputs.

The Tibet Policy and Support Act is a federal law that outlines United States policy on Tibet.

The Tibetan Policy and Support Act would make it official United States policy that the succession of Tibetan Buddhist leaders, including the succession of the Dalai Lama, be left solely to Tibetan Buddhists to decide, without interference from the Chinese government.

World Sustainable Development Summit:

It is the annual flagship event of The Energy and Resources Institute (TERI).

It is the sole Summit on global issues taking place in the developing world.

It provides a platform for global leaders and practitioners to discuss and deliberate over climatic issues of universal importance.

It strives to provide long-term solutions for the benefit of the global community by assembling the world’s most enlightened leaders and thinkers on a single platform.

Typically shell companies include multiple layers of companies that have been created for the purpose of diverting money or for money laundering.

Most shell companies do not manufacture any product or deal in any product or render any service.

They are mostly used to make financial transactions.

Generally, these companies hold assets only on paper and not in reality.

These companies conduct almost no economic activity.

Banks Board Bureau (BBB) is an autonomous body of the Government of India tasked to improve the governance of Public Sector Banks, recommend selection of chiefs of government owned banks and financial institutions and to help banks in developing strategies and capital raising plans.

The BBB works as step towards governance reforms in Public Sector Banks (PSBs) as recommended by P.J. Nayak Committee.

The BBB was the part of Indradhanush Plan of government.

The United Nations Conference on Trade and Development (UNCTAD) was established in 1964 as a permanent intergovernmental body.

UNCTAD is the part of the United Nations Secretariat dealing with trade, investment, and development issues.

The organization’s goals are to: “maximize the trade, investment and development opportunities of developing countries and assist them in their efforts to integrate into the world economy on an equitable basis”.

Marking a major achievement globally, India recorded a 13% growth in Foreign Direct Investment (FDI) in 2020 at a time when fund flows declined most strongly in major economies such as the UK, the US and Russia.

Amidst global collapse, China is the only other country that has shown remarkably high FDI growth.

Specialized Agencies are legally independent international organizations with their own rules, membership, organs and financial resources, were brought into relationship with the United Nations through negotiated agreements.

Some of the agencies existed before the First World War, some were associated with the League of Nations, others were created almost simultaneously with the United Nations and yet others were created by the United Nations itself to meet emerging needs.

Aggregate demand is the total demand for final goods and services in an economy at a given time.

Investment creates infrastructure, generates demand for raw material, labor, provides employment and adds to the productive capacity of the economy.

It is one of the most potent factors in increasing Aggregate demand (AD).

The government has some ability to impact AD.

It can give fiscal stimulus or increase taxes in order to influence how consumers spend or save.

An expansionary fiscal policy (higher spending, lower taxes) causes AD to increase, while a contractionary monetary policy (e.g. high bank rates) causes AD to decrease.