Current Affairs Quiz-8 November 2023
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The Daily Current Affairs Quiz questions are based on various national and regional newspapers, including government news sources.
The questions are framed on happenings around you to enhance your competitiveness for news based concepts and facts.
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Question 1 of 4
1. Question
Recently, ‘Carbon Border Adjustment Mechanism’ was in the news. It is associated with which one of the following organisations/institutions?
Correct
Answer: (C)
Explanation:
What is the CBAM?
Its primary objective is to avert ‘carbon leakage’. It refers to a phenomenon where a EU manufacturer moves carbon-intensive production to countries outside the region with less stringent climate policies. In other words, replace EU-manufactured products with more carbon-intensive imports.
From 2026, once the CBAM is fully implemented, importers in the EU would have to buy carbon certificates corresponding to the payable carbon price of the import had the product been produced in the continent, under its carbon pricing rules. Conversely, if a non-EU producer is paying a price (or tax) for carbon used to produce the imported goods, back home or in some other country, the corresponding cost would be deducted for the EU importer. The Commission, in coordination with relevant authorities of the member states, would be responsible for reviewing and verifying declarations as well as managing the central platform for the sale of CBAM certificates. Importers would have to annually declare by May-end the quantity and embedded emissions in the goods imported into the region in the preceding year.
The idea here is to avert the possibility of carbon leakage alongside encouraging producers in non-EU countries to green their manufacturing processes. Moreover, it will ensure a level playing field between imports and EU products. This would also form part of the continent’s broader European Green Deal which endeavours to achieve 55% reduction in carbon emissions compared to 1990 levels by 2030 and become a climate neutral continent by 2050.Incorrect
Answer: (C)
Explanation:
What is the CBAM?
Its primary objective is to avert ‘carbon leakage’. It refers to a phenomenon where a EU manufacturer moves carbon-intensive production to countries outside the region with less stringent climate policies. In other words, replace EU-manufactured products with more carbon-intensive imports.
From 2026, once the CBAM is fully implemented, importers in the EU would have to buy carbon certificates corresponding to the payable carbon price of the import had the product been produced in the continent, under its carbon pricing rules. Conversely, if a non-EU producer is paying a price (or tax) for carbon used to produce the imported goods, back home or in some other country, the corresponding cost would be deducted for the EU importer. The Commission, in coordination with relevant authorities of the member states, would be responsible for reviewing and verifying declarations as well as managing the central platform for the sale of CBAM certificates. Importers would have to annually declare by May-end the quantity and embedded emissions in the goods imported into the region in the preceding year.
The idea here is to avert the possibility of carbon leakage alongside encouraging producers in non-EU countries to green their manufacturing processes. Moreover, it will ensure a level playing field between imports and EU products. This would also form part of the continent’s broader European Green Deal which endeavours to achieve 55% reduction in carbon emissions compared to 1990 levels by 2030 and become a climate neutral continent by 2050. -
Question 2 of 4
2. Question
In which one of the following groups are all the four countries members of G7?
Correct
Answer: (D)
Explanation:
The G7 is an informal forum of leading industrialised nations, which include Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Representatives of the European Union are always present at the annual meeting of the heads of state and government of the G7.
G7 numbers
As of 2022, G7 countries make up 10% of the world’s population, 31% of global GDP, and 21% of global carbon dioxide emissions, according to the Summit website. China and India, the two most populous countries with among the largest GDP figures in the world, are not part of the grouping.
In all G7 countries, annual public sector expenditure exceeded revenue in 2021. Most G7 countries also had a high level of gross debt, especially Japan (263% of GDP), Italy (151%) and the US (133%).
The G7 countries are important players in global trade. The US and Germany in particular are major export nations. Both sold goods worth well over a trillion US dollars abroad in 2021.Incorrect
Answer: (D)
Explanation:
The G7 is an informal forum of leading industrialised nations, which include Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Representatives of the European Union are always present at the annual meeting of the heads of state and government of the G7.
G7 numbers
As of 2022, G7 countries make up 10% of the world’s population, 31% of global GDP, and 21% of global carbon dioxide emissions, according to the Summit website. China and India, the two most populous countries with among the largest GDP figures in the world, are not part of the grouping.
In all G7 countries, annual public sector expenditure exceeded revenue in 2021. Most G7 countries also had a high level of gross debt, especially Japan (263% of GDP), Italy (151%) and the US (133%).
The G7 countries are important players in global trade. The US and Germany in particular are major export nations. Both sold goods worth well over a trillion US dollars abroad in 2021. -
Question 3 of 4
3. Question
World Energy Outlook is released by which of the following below?
Correct
Answer: (B)
Explanation:
The annual World Energy Outlook (WEO) is the International Energy Agency’s (IEA) flagship publication on global energy projections and analysis. It contains medium to long-term energy market projections, extensive statistics, analysis and advice for both governments and the energy business regarding energy security, environmental protection and economic development. The first WEO was published in 1977 and it has been an annual publication since 1998.Incorrect
Answer: (B)
Explanation:
The annual World Energy Outlook (WEO) is the International Energy Agency’s (IEA) flagship publication on global energy projections and analysis. It contains medium to long-term energy market projections, extensive statistics, analysis and advice for both governments and the energy business regarding energy security, environmental protection and economic development. The first WEO was published in 1977 and it has been an annual publication since 1998. -
Question 4 of 4
4. Question
Hanle is an ideal place to observe the phenomenon of aurora as it is India’s only dark sky reserve-an area where special measures are taken to reduce artificial light pollution is built in which of the following places?
Correct
Answer: (B)
Explanation:
Auroras are patterns of bright lights in the sky that are seen when particles ejected by the Sun interact with the magnetic field around the Earth.
The phenomenon is usually visible closer to the poles. It is mostly not visible in places closer to the equator like India. But Hanle is an ideal place to observe the phenomenon of aurora as it is India’s only dark sky reserve — an area where special measures are taken to reduce artificial light pollution.Incorrect
Answer: (B)
Explanation:
Auroras are patterns of bright lights in the sky that are seen when particles ejected by the Sun interact with the magnetic field around the Earth.
The phenomenon is usually visible closer to the poles. It is mostly not visible in places closer to the equator like India. But Hanle is an ideal place to observe the phenomenon of aurora as it is India’s only dark sky reserve — an area where special measures are taken to reduce artificial light pollution.