31 August : Daily Current Affairs Quiz

Answer:  Option D - Japan

Explanation:

• The Spratly Islands are a contested group of islands in the South China Sea claimed by China, Vietnam, the Philippines, and several other countries.
• Japan is not among the claimants. The islands are strategically important and rich in resources, which has led to ongoing disputes and military presence from the claimant nations.
• Japan’s interests in the region are more aligned with broader security and trade concerns rather than direct territorial claims.

Answer:  Option A - Is the first cyclonic storm in the Arabian Sea to form in August since 1976.

Explanation:

• Cyclone Asna is significant as it is the first cyclonic storm in the Arabian Sea to occur in August since 1976.
• Prior to this, August cyclones in the Arabian Sea were observed in 1976, 1964, and 1944.

This rarity highlights the unusual timing of Asna, which deviates from the typical cyclonic activity patterns and emphasizes its importance in recent meteorological history.

Answer:  Option C - Real GDP is adjusted for inflation, reflecting the value of goods and services at constant prices, whereas nominal GDP reflects the value at current market prices.

Explanation:

• Real GDP reflects the value of goods and services at constant prices, adjusting for inflation, allowing for accurate comparison over time.
• Nominal GDP, on the other hand, measures economic output using current market prices, without adjusting for inflation.

This means nominal GDP can be distorted by changes in price levels, while real GDP provides a clearer picture of actual economic growth and output.

Answer:  Option D - The value of output minus the value of intermediate consumption, adjusted for changes in price levels.

Explanation:

• Real Gross Value Added (GVA) calculates the economic value of goods and services produced, subtracting the cost of intermediate goods, and adjusts for inflation to reflect constant prices. This provides a measure of economic output in real terms.
• Options A and C describe Real GDP and nominal values, respectively, while Option B is incorrect.

Answer:  Option C - Bharat Electronics Limited

Explanation:

• Bharat Electronics Limited is not a Maharatna company; it holds Navratna status.
• Bharat Petroleum Corporation Limited, Oil and Natural Gas Corporation Limited, and Steel Authority of India Limited are Maharatna companies.
• Maharatna status is granted to CPSEs with large-scale operations and high financial metrics, allowing greater autonomy in decision-making.
• Bharat Electronics Limited, while significant, has not achieved the Maharatna criteria.