Current Affairs Quiz Today – 18th Jan 2021

ANS: (B) Jallikattu

Explanation:

• Jallikattu is a sport conducted as a part of Mattu Pongal.
  • Mattu Pongal is the 3rd day of the four-day-long festival Pongal.
• It is an ancient sport aimed to embrace the bull.
• The sport involves a natively reared stud that is set free inside an arena filled with young participants.
• The challenge lies in taming the bull with bare hands.
• It is also known as Manju Virattu or Eru Thazhuvuthal.

ANS: (D) Neither 1 nor 2

Explanation

• Recently, Russia pulled out of the Open Skies Treaty (OST) citing earlier withdrawal of the USA from the treaty. This move was made after the USA pulled out of the Open Skies Treaty in November 2020, arguing that Russian violations made it untenable for the United States to remain a party.
• Open Skies Treaty (OST) allows a member State to undertake surveillance on any part of the host nation, with the latter’s consent. Hence, statement 1 is not correct.
• The Open Sky Agreements are bilateral agreements that the two countries negotiate to provide rights for airlines to offer international passenger and cargo services. Recently, the United Arab Emirates (UAE) has expressed interest to have an Open Sky Agreement with India. Hence, statement 2 is not correct.

ANS: (C) Both 1 and 2

Explanation

• Recently, Semeru volcano erupted in Indonesia’s East Java province. Other volcanoes, such as the Merapi volcano (Java) and Sinabung volcano (Sumatra), also erupted recently.
• Semeru – also known as “The Great Mountain” – is the highest volcano in Java and one of the most active.
  • It previously erupted in December, 2019.
  • Indonesia, with the maximum number of active volcanoes in the world, is prone to seismic upheaval due to its location on the Pacific’s Ring of Fire. Hence, statement 2 is correct.
  • Semeru volcano is also the part of the Island arcs formed by the subduction of the Indo-Australian plate below Sunda Plate (part of Eurasian Plate). The trench formed here is called Sunda trench whose major section is the Java Trench. Hence, statement 1 is correct.

ANS: (D) None of the above

ANS: (B) In V-shaped the incomes and jobs are permanently lost, and the economic growth recovers gradually.

Explanation

• Recently, the latest readings of the Nomura India Normalization Index (NINI) suggested the impact of Covid-19 on Indian Economy and the K-Shaped Recovery through which the Indian Economy is recovering.
• Economic recovery can take many forms, which is depicted using alphabetic notations. For example, a Z-shaped recovery, V-shaped recovery, U-shaped recovery, elongated U-shaped recovery, W-shaped recovery and L-shaped recovery.
  • Z-shaped recovery: It is the most-optimistic scenario in which the economy quickly rises after an economic crash.
    • It makes up more than for lost ground before settling back to the normal trend-line, thus forming a Z-shaped chart.
    • In this economic disruption lasts for a small period wherein more than people’s incomes, it is their ability to spend is restricted. Hence, option A is correct.
  • V-shaped recovery: It is the next-best scenario after Z-shaped recovery in which the economy quickly recoups lost ground and gets back to the normal growth trend-line.
    • In this, incomes and jobs are not permanently lost, and the economic growth recovers sharply and returns to the path it was following before the disruption. Hence, option B is not correct.
  • U-shaped recovery: It is a scenario in which the economy, after falling, struggles around a low growth rate for some time, before rising gradually to usual levels.
    • In this case several jobs are lost and people fall upon their savings.
    • If this process is more-long drawn than it throws up the “elongated U” shape. Hence, option C is correct.
  • W-shaped recovery: A W-shaped recovery is a dangerous creature. In this, growth falls and rises, but falls again before recovering, thus forming a W-like chart.
    • The double-dip depicted by a W-shaped recovery can be due to the second wave of the pandemic.
  • L-shaped recovery: In this, the economy fails to regain the level of GDP even after years go by.
    • The shape shows that there is a permanent loss to the economy’s ability to produce.
  • K-shaped recovery: It occurs when, following a recession, different parts of the economy recover at different rates, times, or magnitudes. This is in contrast to an even, uniform recovery across sectors, industries, or groups of people.
    • It leads to changes in the structure of the economy or the broader society as economic outcomes and relations are fundamentally changed before and after the recession. Hence, option D is correct.