8 June 2024 : Daily Current Affairs Quiz

Answer:  Option C - Collective enterprises formed by farmers to improve bargaining power and access markets.

Explanation:

• Farmer Producer Organisations (FPOs) are groups of farmers who come together to collectively market their produce, access inputs at lower costs, and benefit from economies of scale.
• These organizsations enhance farmers' bargaining power in the market, provide them with access to better infrastructure and technology, and promote sustainable agricultural practices.

Answer:  Option C - To influence commercial banks' borrowing costs for short-term funds.

Explanation:

• The repo rate is the rate at which the central bank lends money to commercial banks for short durations, typically overnight.
• By adjusting the repo rate, the central bank can control the cost of borrowing for banks, which in turn affects lending rates in the economy, impacting borrowing, spending, and ultimately, economic activity and inflation.
• a) Interest rates on savings accounts are typically determined by commercial banks, not the central bank.
• b) Open market operations are another tool used by central banks to influence the money supply, but they are not directly tied to the repo rate.
• d) While the repo rate can indirectly affect exchange rates, it's not the primary target for influencing exchange rate stability.

Answer:  Option A - GDP = Consumption + Investment + Government Spending + (Exports - Imports)

Explanation:

• GDP = Consumption + Investment + Government Spending + (Exports - Imports).
• This formula represents the expenditure approach to calculating GDP, where GDP is the sum of consumption, investment, government spending, and net exports (exports minus imports).
• It measures the total value of goods and services produced within a country's borders over a specific period, reflecting both domestic and foreign economic activities.

Answer:  Option B -  Papua New Guinea

Explanation:

• Papua New Guinea is not a member of ASEAN.
• ASEAN comprises Southeast Asian nations, and Papua New Guinea is located in the Pacific region.
• It shares no geographical or historical ties with ASEAN countries.

Answer:  Option B - The Periyar River is known for its unique pink-coloured water due to the presence of certain minerals.

Explanation:

• The Periyar River does not have pink-coloured water due to minerals.
• There are reports of the Periyar exhibiting a pinkish hue under specific conditions, but it's not a well-known or permanent feature of the river.

This river, originating from the Western Ghats, is vital for hydroelectric power generation in Kerala. It is not the longest river in Kerala; that title belongs to the Bharathapuzha.