Economics Miscellaneous (Part – IV)

Total Questions: 52

21. The Misery Index is the sum of a country's unemployment and inflation rate. The higher the index, the more miserable is the country to live in. The figure given below is the Misery Index for various countries in Europe. [I.A.S. (Pre) 1998]

Which of the following conclusions can be drawn from the Misery Index given above?

1. Britain is the most miserable country to live in.

2. The inflation rate in Spain is less than in Belgium and Britain.

3. Italy and France seem to have almost identical unemployment rate.

4. The higher the Misery Index, the higher the inflation rate.

Select the correct answer using the codes given below:

Codes:

(a) 1 only
(b) 2 and 3
(c) 1, 2, 3 and 4
(d) None of the above

Correct Answer: (b) 2 and 3

Solution:On the basis of the Misery Index given in the figure, Spain is the most miserable country to live in. Hence, statement 1 is incorrect. Statement 2 is correct as the inflation rate in Spain is less than in Belgium and Britain. Statement 3 is also seems to be correct by the figure. Statement 4 is incorrect through the example of Spain. Hence, option (b) is the correct answer.

22. Consider the following statements: [U.P.P.C.S. (Pre) 2006]

1. According to a survey conducted by Uttar Pradesh Planning Department recently, Lucknow has been found to be the most developed.

2. As per recent study conducted in 20 States by the 'Centre for Media Studies', corruption in 2005 in India is less than what it was in 2002.

3. As per targets set for Bharat Nirman Yojna, houses to be constructed for the rural poor would not even meet 50% of the shortage of rural houses.

Select the correct answer using the code given below:

Codes:

(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) All of the three

Correct Answer: (b) 2 and 3 only

Solution:According to the Planning Atlas 2005 released by the Planning Department of Uttar Pradesh, the top five developed districts of the State were as follows:

District	Value
1. Gautam Budh Nagar	413.15
2. Ghaziabad	167.46
3. Meerut	139.66
4. Kanpur city	135.94
5. Lucknow	131.93

23. An International Organization 'Transparency International' issues Corruption Index every year. Match the years given in List A with India's ranking given in List-B and select the correct answer from the codes given below the lists: [U.P.P.S.C. (R.I.) 2014]

List-A (Year)	List-B (India's Ranking)
A. 2014	1. 87
B. 2012	2. 95
C. 2011	3. 94
D. 2010	4. 85

Codes:

Option	A	B	C	D
(a)	4	3	2	1
(b)	4	2	3	1
(c)	1	2	4	3
(d)	1	3	2	4

Correct Answer: (a)

Solution:As per the Transparency International's 'Corruption Perception Index', India's year by year ranking were as follows: 85th in the year 2014, 94th in 2012, 95th in 2011 and 87th in 2010. In the Corruption Perception Index released in January 2024, India is at 93rd position among 180 countries in 2023. The list is topped by the Denmark while Finland and New Zealand are at 2nd and 3rd rank respectively. Somalia is at the bottom of the global ranking, with score of 11.

24. RESIDEX, an index of residential prices in India, was launched in the year. [U.P.P.C.S. (Mains) 2011]

(a) 2001
(b) 2004
(c) 2007
(d) 2008

Solution:NHB RESIDEX, India's first official housing price index, was an initiative of the National Housing Bank (NHB), under- taken at the behest of the Government of India, Ministry of Finance. It was launched in July, 2007 and updated periodically till March 2015, taking 2007 as the base year. During this period, the coverage of NHB RESIDEX was expanded gradually to 26 cities. Thereafter revamped NHB RESIDEX with larger scope and wider geographical coverage was published taking FY 2012-13 as base year and is updated up to March 2018. With effect from April 2018, a new series with FY 2017-18 as new base year has been published and is updated periodically.

25. Index 'Residex' is associated with: [U.P.P.C.S. (Mains) 2015]

(a) Share Prices
(b) Mutual fund prices
(c) Price index
(d) Land Prices

Correct Answer: (d) Land Prices

26. Which right is not provided in the Consumer Protection Act, 1986 of India? [M.P.P.C.S. (Pre) 2001]

(a) Access to a variety of goods and services at competitive prices
(b) Consumer education
(c) Rebate in rates of goods and services for the weaker sections of the society
(d) Protection from such goods and services which are hazardous to life and property

Correct Answer: (c) Rebate in rates of goods and services for the weaker sections of the society

Solution:The Consumer Protection Act, 1986 of the Government of India is not for rebate in rates of goods and services for the weaker section of the society. Statements of other options are correct with reference to this Act.

About Consumer Protection Act, 2019

The Consumer Protection Act, 2019, replaced the decades-old Consumer Protection Act of 1986, marking a significant shift in protecting consumer interests in India.
This legislation aims to streamline the administration and settlement of consumer disputes through modernized provisions and new authorities, addressing the challenges of a rapidly changing marketplace, especially in the digital age.
Objectives of Consumer Protection Act, 2019
The objectives of the Consumer Protection Act, 2019 are to:
To protect consumer rights by ensuring access to goods and services of standard quality, free from unfair trade practices.
To establish effective mechanisms for grievance redressal and ensure speedy resolution of consumer disputes.
To promote and strengthen consumer awareness and provide a framework for addressing complaints through consumer courts and authorities.

27. Trade and Merchandise Marks Act was passed in: [U.P.P.C.S (Mains) 2016]

(a) 1955
(b) 1956
(c) 1957
(d) 1958

Correct Answer: (d) 1958

Solution:The Trade and Merchandise Marks Act was passed in 1958. It is an Act to provide for the registration and better protection of trade marks and for the prevention of the use of fraudulent marks on merchandise.

What is a trademark?

It is a symbol, design, word or phrase that is identified with a business. When a trademark is registered, its owner can claim "exclusive rights" on its use. A trademark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises.

Violation of trademark: Using a registered trademark without authorisation of the entity that owns the trademark is a violation or infringement of the trademark.
∗ Using a substantially similar mark for similar goods or services could also amount to infringement.
∗ In such cases, courts have to determine whether this can cause confusion for consumers between the two.

28. POCSO Act is related to: [Uttarakhand P.C.S. (Pre) 2012]

(a) Oil companies
(b) Children
(c) Civil servants
(d) Oceans

Correct Answer: (b) Children

Solution:The Protection of Children from Sexual Offences (POCSO) Act was enacted in 2012 especially to protect children (aged less than 18) from sexual assault, sexual harassment and use of pornographic material for the purpose of sexual offence against children.

Key provisions:

Gender-neutral legislation: The Act defines a child as "any person" under the age of 18.
Non-reporting is a crime: Any person in charge of an institution (excluding children) who fails to report the commission of a sexual offence involving a subordinate faces punishment.
No time limit for reporting abuse: A victim may report an offence at any time, even years after the abuse has occurred.
Keeping victim's identity confidential: The Act forbids the disclosure of the victim's identity in any form of media unless authorised by the special courts established by the Act.

29. Land Acquisition Bill was passed in Lok Sabha with how many amendments? [R.A.S./R.T.S. (Pre) (Re-Exam) 2013]

(a) 05
(b) 09
(c) 10
(d) 11

Correct Answer: (b) 09

Solution:Land Acquisition Bill was passed by Lok Sabha with 09 amendments. The full form of the Bill was-The Right to Fair Compensation and Transparency in Land Acquisition, Re- habilitation and Resettlement (Amendment) Bill 2015. This Bill was introduced in Lok Sabha on 24 February, 2015 and passed by the Lok Sabha on March 10, 2015.

Why is land acquisition in India needed?

Land is a Scarce Resource: India holds only 2.4% of total land surface but hosts more than 18% of the world population.
Urban Expansion and Housing: By 2050, India is likely to have 850-900 million people living in urban spaces. As cities expand and populations grow, land acquisition becomes essential.
Economic Growth: Land is required for establishing industries, manufacturing units, etc.
Energy Projects: Land acquisition is essential for the development of power plants, renewable energy projects, and other energy-related initiatives such as the Tehri Dam in Uttarakhand, Sardar Sarovar Dam in Gujarat, etc.

30. The new government at the Centre has recently ratified the Marrakesh Treaty. This treaty aims at: [Uttarakhand P.C.S. (Pre) 2012]

(a) Developing Marine Living resources
(b) Regulating air transport services
(c) Promotion of access to published works by visually impaired persons and persons with print disabilities
(d) Promoting studies in cell-biology

Correct Answer: (c) Promotion of access to published works by visually impaired persons and persons with print disabilities

Solution:The Central Government on 30 June, 2014 has ratified the Marrakesh Treaty. With this, India becomes the first country to ratify this treaty. Aims of the Marrakesh Treaty is to facilitate access to published works for persons who are blind, visually impaired or otherwise print disabled.

Purpose:
To address the "book famine" by requiring contracting parties to establish limitations and exceptions to copyright law, enabling the creation and cross-border exchange of accessible format copies (like Braille) for visually impaired individuals. India's early ratification highlights its commitment to the treaty's goals and its proactive approach to improving access to information for its visually impaired citizens.

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