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IBPS PO Main 2019: Mini Quiz 2

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Question 1

Direction: Read the following passage carefully and answer the questions that follow.
Natural resources can be classified into two broad categories - renewable resources and non-renewable resources. Examples of non-renewable resources are coal, crude oil, natural gas and minerals. The stocks of these resources are finite and hence society’s problem is optimal depletion of the resources over time. Fisheries, forests and water in lakes and rivers and groundwater are examples of renewable resources. These resources are capable of self-production and their stocks can increase with time only if their rates of harvesting are below their natural rates of growth. Renewable resources can be under private property, common-pool resource or open-access resource regimes.
Hotelling’s paper on the economics of exhaustible resources stresses the need for an inter-temporal approach to analysing the optimal rate of depletion of a finite stock of resource. He says that the static equilibrium type of economic theory is plainly inadequate for an industry in which the indefinite maintenance of a steady state is a physical impossibility. He uses the calculus of variations technique to study the optimum rates of depletion under competition and monopoly and also the rate of depletion from society’s point of view. The Hotelling rule is that the price of an exhaustible resource must grow at a rate equal to the rate of interest, both along an efficient extraction path and in a competitive resource industry equilibrium. Hotelling shows that, if the elasticity of demand is decreasing as the quantity increases, the monopolist will deplete the resource more slowly than a competitor. When the cost of extraction depends on the rate of extraction and cumulative production, he shows that the royalty does not rise at the rate of interest 'r' but at 'r' less than the percentage increase in cost caused by adding to the stock of cumulative production.
Renewable resources, such as inland fisheries, grazing land, groundwater basin, irrigation water and unfenced forests often come under common-property regimes. These resources are often jointly owned by local communities. These resources have two characteristics: exclusion is infeasible or very costly; and rivalry, in the sense that if one member uses more, less remains for others. Hence a common-property resource is potentially subject to congestion, depletion or degradation when its use is pushed beyond the limit of sustainable yield.
Hardin’s paper deals with the problem of over exploitation of grazing land with open access. As a rational individual, each herdsman seeks to maximize his gain. His additional utility from adding an animal has two components: a positive component arising from the sale of the additional animal and a negative component arising from the overgrazing created by one more animal. As the effects of overgrazing are shared by all the herdsmen, the negative utility of anyone herdsman is only a fraction of the decrease in the total utility. He argues that ‘the rational herdsman concludes that the only sensible course for him to pursue is to add another animal to his herd. And another…. But this is the conclusion reached by each and every rational herdsman sharing a commons. Therein is the tragedy. Each man is locked into a system that compels him to increase his herd without limit – ‘in a world that is limited…. Freedom in a commons brings ruin to all’.
According to Hardin, the tragedy of the commons reappears in the problem of pollution, in a reverse way. Here, each individual puts something in the commons – sewage, or chemical, radioactive and heat wastes into water, noxious and dangerous fumes into the air. In doing this, the rational man finds that his share of the cost is less than the cost of purifying his wastes before releasing them. Since this is true of everyone, we are locked into a system of fouling our own nest so long as we behave only as independent rational free men. But as the air and water surrounding us cannot be readily fenced, to prevent the tragedy of the commons as a cesspool, he recommends coercive laws or taxing devices that make it cheaper for the polluter to treat his pollutants than to discharge them untreated. He argues that a finite world can support only a finite population and therefore the freedom to breed will bring ruin to all.
Which of the following can be inferred from the second paragraph of the passage?

Question 2

Direction: Read the following passage carefully and answer the questions that follow.
Natural resources can be classified into two broad categories - renewable resources and non-renewable resources. Examples of non-renewable resources are coal, crude oil, natural gas and minerals. The stocks of these resources are finite and hence society’s problem is optimal depletion of the resources over time. Fisheries, forests and water in lakes and rivers and groundwater are examples of renewable resources. These resources are capable of self-production and their stocks can increase with time only if their rates of harvesting are below their natural rates of growth. Renewable resources can be under private property, common-pool resource or open-access resource regimes.
Hotelling’s paper on the economics of exhaustible resources stresses the need for an inter-temporal approach to analysing the optimal rate of depletion of a finite stock of resource. He says that the static equilibrium type of economic theory is plainly inadequate for an industry in which the indefinite maintenance of a steady state is a physical impossibility. He uses the calculus of variations technique to study the optimum rates of depletion under competition and monopoly and also the rate of depletion from society’s point of view. The Hotelling rule is that the price of an exhaustible resource must grow at a rate equal to the rate of interest, both along an efficient extraction path and in a competitive resource industry equilibrium. Hotelling shows that, if the elasticity of demand is decreasing as the quantity increases, the monopolist will deplete the resource more slowly than a competitor. When the cost of extraction depends on the rate of extraction and cumulative production, he shows that the royalty does not rise at the rate of interest 'r' but at 'r' less than the percentage increase in cost caused by adding to the stock of cumulative production.
Renewable resources, such as inland fisheries, grazing land, groundwater basin, irrigation water and unfenced forests often come under common-property regimes. These resources are often jointly owned by local communities. These resources have two characteristics: exclusion is infeasible or very costly; and rivalry, in the sense that if one member uses more, less remains for others. Hence a common-property resource is potentially subject to congestion, depletion or degradation when its use is pushed beyond the limit of sustainable yield.
Hardin’s paper deals with the problem of over exploitation of grazing land with open access. As a rational individual, each herdsman seeks to maximize his gain. His additional utility from adding an animal has two components: a positive component arising from the sale of the additional animal and a negative component arising from the overgrazing created by one more animal. As the effects of overgrazing are shared by all the herdsmen, the negative utility of anyone herdsman is only a fraction of the decrease in the total utility. He argues that ‘the rational herdsman concludes that the only sensible course for him to pursue is to add another animal to his herd. And another…. But this is the conclusion reached by each and every rational herdsman sharing a commons. Therein is the tragedy. Each man is locked into a system that compels him to increase his herd without limit – ‘in a world that is limited…. Freedom in a commons brings ruin to all’.
According to Hardin, the tragedy of the commons reappears in the problem of pollution, in a reverse way. Here, each individual puts something in the commons – sewage, or chemical, radioactive and heat wastes into water, noxious and dangerous fumes into the air. In doing this, the rational man finds that his share of the cost is less than the cost of purifying his wastes before releasing them. Since this is true of everyone, we are locked into a system of fouling our own nest so long as we behave only as independent rational free men. But as the air and water surrounding us cannot be readily fenced, to prevent the tragedy of the commons as a cesspool, he recommends coercive laws or taxing devices that make it cheaper for the polluter to treat his pollutants than to discharge them untreated. He argues that a finite world can support only a finite population and therefore the freedom to breed will bring ruin to all.
If the suggestion made by Hardin is to be adopted, which of the following is a possible outcome?

Question 3

Direction: Read the following passage carefully and answer the questions that follow.
Natural resources can be classified into two broad categories - renewable resources and non-renewable resources. Examples of non-renewable resources are coal, crude oil, natural gas and minerals. The stocks of these resources are finite and hence society’s problem is optimal depletion of the resources over time. Fisheries, forests and water in lakes and rivers and groundwater are examples of renewable resources. These resources are capable of self-production and their stocks can increase with time only if their rates of harvesting are below their natural rates of growth. Renewable resources can be under private property, common-pool resource or open-access resource regimes.
Hotelling’s paper on the economics of exhaustible resources stresses the need for an inter-temporal approach to analysing the optimal rate of depletion of a finite stock of resource. He says that the static equilibrium type of economic theory is plainly inadequate for an industry in which the indefinite maintenance of a steady state is a physical impossibility. He uses the calculus of variations technique to study the optimum rates of depletion under competition and monopoly and also the rate of depletion from society’s point of view. The Hotelling rule is that the price of an exhaustible resource must grow at a rate equal to the rate of interest, both along an efficient extraction path and in a competitive resource industry equilibrium. Hotelling shows that, if the elasticity of demand is decreasing as the quantity increases, the monopolist will deplete the resource more slowly than a competitor. When the cost of extraction depends on the rate of extraction and cumulative production, he shows that the royalty does not rise at the rate of interest 'r' but at 'r' less than the percentage increase in cost caused by adding to the stock of cumulative production.
Renewable resources, such as inland fisheries, grazing land, groundwater basin, irrigation water and unfenced forests often come under common-property regimes. These resources are often jointly owned by local communities. These resources have two characteristics: exclusion is infeasible or very costly; and rivalry, in the sense that if one member uses more, less remains for others. Hence a common-property resource is potentially subject to congestion, depletion or degradation when its use is pushed beyond the limit of sustainable yield.
Hardin’s paper deals with the problem of over exploitation of grazing land with open access. As a rational individual, each herdsman seeks to maximize his gain. His additional utility from adding an animal has two components: a positive component arising from the sale of the additional animal and a negative component arising from the overgrazing created by one more animal. As the effects of overgrazing are shared by all the herdsmen, the negative utility of anyone herdsman is only a fraction of the decrease in the total utility. He argues that ‘the rational herdsman concludes that the only sensible course for him to pursue is to add another animal to his herd. And another…. But this is the conclusion reached by each and every rational herdsman sharing a commons. Therein is the tragedy. Each man is locked into a system that compels him to increase his herd without limit – ‘in a world that is limited…. Freedom in a commons brings ruin to all’.
According to Hardin, the tragedy of the commons reappears in the problem of pollution, in a reverse way. Here, each individual puts something in the commons – sewage, or chemical, radioactive and heat wastes into water, noxious and dangerous fumes into the air. In doing this, the rational man finds that his share of the cost is less than the cost of purifying his wastes before releasing them. Since this is true of everyone, we are locked into a system of fouling our own nest so long as we behave only as independent rational free men. But as the air and water surrounding us cannot be readily fenced, to prevent the tragedy of the commons as a cesspool, he recommends coercive laws or taxing devices that make it cheaper for the polluter to treat his pollutants than to discharge them untreated. He argues that a finite world can support only a finite population and therefore the freedom to breed will bring ruin to all.
According to Hardin, where does the "tragedy of commons" recur?

Question 4

Direction: Read the following passage carefully and answer the questions that follow.
Natural resources can be classified into two broad categories - renewable resources and non-renewable resources. Examples of non-renewable resources are coal, crude oil, natural gas and minerals. The stocks of these resources are finite and hence society’s problem is optimal depletion of the resources over time. Fisheries, forests and water in lakes and rivers and groundwater are examples of renewable resources. These resources are capable of self-production and their stocks can increase with time only if their rates of harvesting are below their natural rates of growth. Renewable resources can be under private property, common-pool resource or open-access resource regimes.
Hotelling’s paper on the economics of exhaustible resources stresses the need for an inter-temporal approach to analysing the optimal rate of depletion of a finite stock of resource. He says that the static equilibrium type of economic theory is plainly inadequate for an industry in which the indefinite maintenance of a steady state is a physical impossibility. He uses the calculus of variations technique to study the optimum rates of depletion under competition and monopoly and also the rate of depletion from society’s point of view. The Hotelling rule is that the price of an exhaustible resource must grow at a rate equal to the rate of interest, both along an efficient extraction path and in a competitive resource industry equilibrium. Hotelling shows that, if the elasticity of demand is decreasing as the quantity increases, the monopolist will deplete the resource more slowly than a competitor. When the cost of extraction depends on the rate of extraction and cumulative production, he shows that the royalty does not rise at the rate of interest 'r' but at 'r' less than the percentage increase in cost caused by adding to the stock of cumulative production.
Renewable resources, such as inland fisheries, grazing land, groundwater basin, irrigation water and unfenced forests often come under common-property regimes. These resources are often jointly owned by local communities. These resources have two characteristics: exclusion is infeasible or very costly; and rivalry, in the sense that if one member uses more, less remains for others. Hence a common-property resource is potentially subject to congestion, depletion or degradation when its use is pushed beyond the limit of sustainable yield.
Hardin’s paper deals with the problem of over exploitation of grazing land with open access. As a rational individual, each herdsman seeks to maximize his gain. His additional utility from adding an animal has two components: a positive component arising from the sale of the additional animal and a negative component arising from the overgrazing created by one more animal. As the effects of overgrazing are shared by all the herdsmen, the negative utility of anyone herdsman is only a fraction of the decrease in the total utility. He argues that ‘the rational herdsman concludes that the only sensible course for him to pursue is to add another animal to his herd. And another…. But this is the conclusion reached by each and every rational herdsman sharing a commons. Therein is the tragedy. Each man is locked into a system that compels him to increase his herd without limit – ‘in a world that is limited…. Freedom in a commons brings ruin to all’.
According to Hardin, the tragedy of the commons reappears in the problem of pollution, in a reverse way. Here, each individual puts something in the commons – sewage, or chemical, radioactive and heat wastes into water, noxious and dangerous fumes into the air. In doing this, the rational man finds that his share of the cost is less than the cost of purifying his wastes before releasing them. Since this is true of everyone, we are locked into a system of fouling our own nest so long as we behave only as independent rational free men. But as the air and water surrounding us cannot be readily fenced, to prevent the tragedy of the commons as a cesspool, he recommends coercive laws or taxing devices that make it cheaper for the polluter to treat his pollutants than to discharge them untreated. He argues that a finite world can support only a finite population and therefore the freedom to breed will bring ruin to all.
According to the passage, which of the following is not true?

Question 5

Direction: Read the following passage carefully and answer the questions that follow.
Natural resources can be classified into two broad categories - renewable resources and non-renewable resources. Examples of non-renewable resources are coal, crude oil, natural gas and minerals. The stocks of these resources are finite and hence society’s problem is optimal depletion of the resources over time. Fisheries, forests and water in lakes and rivers and groundwater are examples of renewable resources. These resources are capable of self-production and their stocks can increase with time only if their rates of harvesting are below their natural rates of growth. Renewable resources can be under private property, common-pool resource or open-access resource regimes.
Hotelling’s paper on the economics of exhaustible resources stresses the need for an inter-temporal approach to analysing the optimal rate of depletion of a finite stock of resource. He says that the static equilibrium type of economic theory is plainly inadequate for an industry in which the indefinite maintenance of a steady state is a physical impossibility. He uses the calculus of variations technique to study the optimum rates of depletion under competition and monopoly and also the rate of depletion from society’s point of view. The Hotelling rule is that the price of an exhaustible resource must grow at a rate equal to the rate of interest, both along an efficient extraction path and in a competitive resource industry equilibrium. Hotelling shows that, if the elasticity of demand is decreasing as the quantity increases, the monopolist will deplete the resource more slowly than a competitor. When the cost of extraction depends on the rate of extraction and cumulative production, he shows that the royalty does not rise at the rate of interest 'r' but at 'r' less than the percentage increase in cost caused by adding to the stock of cumulative production.
Renewable resources, such as inland fisheries, grazing land, groundwater basin, irrigation water and unfenced forests often come under common-property regimes. These resources are often jointly owned by local communities. These resources have two characteristics: exclusion is infeasible or very costly; and rivalry, in the sense that if one member uses more, less remains for others. Hence a common-property resource is potentially subject to congestion, depletion or degradation when its use is pushed beyond the limit of sustainable yield.
Hardin’s paper deals with the problem of over exploitation of grazing land with open access. As a rational individual, each herdsman seeks to maximize his gain. His additional utility from adding an animal has two components: a positive component arising from the sale of the additional animal and a negative component arising from the overgrazing created by one more animal. As the effects of overgrazing are shared by all the herdsmen, the negative utility of anyone herdsman is only a fraction of the decrease in the total utility. He argues that ‘the rational herdsman concludes that the only sensible course for him to pursue is to add another animal to his herd. And another…. But this is the conclusion reached by each and every rational herdsman sharing a commons. Therein is the tragedy. Each man is locked into a system that compels him to increase his herd without limit – ‘in a world that is limited…. Freedom in a commons brings ruin to all’.
According to Hardin, the tragedy of the commons reappears in the problem of pollution, in a reverse way. Here, each individual puts something in the commons – sewage, or chemical, radioactive and heat wastes into water, noxious and dangerous fumes into the air. In doing this, the rational man finds that his share of the cost is less than the cost of purifying his wastes before releasing them. Since this is true of everyone, we are locked into a system of fouling our own nest so long as we behave only as independent rational free men. But as the air and water surrounding us cannot be readily fenced, to prevent the tragedy of the commons as a cesspool, he recommends coercive laws or taxing devices that make it cheaper for the polluter to treat his pollutants than to discharge them untreated. He argues that a finite world can support only a finite population and therefore the freedom to breed will bring ruin to all.
According to the passage, which of the following is true regarding the common-property resources mentioned in paragraph 3?
I. These resources can be exploited at man's will. 
II. These resources spark enmity amongst the beneficiaries. 
III. These resources are finite; hence are a major cause of concern. 

Question 6

A carriage travels in the fog passed along a man who was walking at 3 km/h in the same direction. He could see the carriage for 4 minutes and it was visible to him up to a distance of 100 m. What was the speed of carriage?

Question 7

Amit started a business with an investment of Rs. 20,000 in 2015 and he invested additional 20% of his amount in next year where Sumit joined him with an investment of Rs. 20000. Further next year, both has invested an additional amount of 30% of their initial investment and Prakash joined them with an investment of Rs. 10,000. At the end of three years, the total profit earned by them is Rs. 2,75,000. What is the share of Sumit.

Question 8

Present ages of Sukhe and Diljit are in the ratio of 6: 7 respectively. After two years, ages of Diljit and Guru will be in the ratio of 11: 8, respectively. Find the present age of Guru, if the present average age of Sukhe, Diljit and Guru is 36 years.

Question 9

Two bikes A & B are at a distance of 8 km. They start towards each other at 20 km/hr & 24 km/hr. As they start, a bird sitting on the handle of bike A, starts flying towards B, touches B & then returns towards A & so on, till they meet. What is the distance traveled by the bird, if its speed is 176 km/hr?

Question 10

Three friends Alan, Bob and Cherry can do a work at differing speeds. When the slowest two work together they take ‘’ days to finish a task, when the quickest two work together they take ‘’ days to finish a task. If Bob worked alone, he would take thrice as much time as it would take when all three work together, then how much time would it take if all three worked together?

Question 11

Direction: Study the information given below and answer the questions based on it.

When a word and number arrangement machine is given an input line of words and numbers, it arranges them following a particular rule. The following is an illustration of input and its rearrangement (All the numbers are two-digit numbers).

Input: 32 enter come 27 66 round number 52 42 good
Step I: come enter 27 66 round number 52 42 good 32
Step II: enter come 27 66 round number 52 good 32 42
Step III: good enter come 27 66 round number 32 42 52
Step IV: number good enter come 66 round 32 42 52 27
Step V: round number good enter come 32 42 52 27 66
And Step V is the last step of the above arrangement as the intended arrangement is obtained. As per the rules followed in the given steps, find out the appropriate steps for the given input.

Input
: right five 33 43 eager 73 their mouse 21 17 done 27
In step III, which element appears between ‘right’ and ‘their’?

Question 12

Direction: Study the information given below and answer the questions based on it.

When a word and number arrangement machine is given an input line of words and numbers, it arranges them following a particular rule. The following is an illustration of input and its rearrangement (All the numbers are two-digit numbers).

Input: 32 enter come 27 66 round number 52 42 good
Step I: come enter 27 66 round number 52 42 good 32
Step II: enter come 27 66 round number 52 good 32 42
Step III: good enter come 27 66 round number 32 42 52
Step IV: number good enter come 66 round 32 42 52 27
Step V: round number good enter come 32 42 52 27 66
And Step V is the last step of the above arrangement as the intended arrangement is obtained. As per the rules followed in the given steps, find out the appropriate steps for the given input.

Input
: right five 33 43 eager 73 their mouse 21 17 done 27
What is the position of ‘eager’ to the left of ‘73’ in step IV?

Question 13

Direction: Study the information given below and answer the questions based on it.

When a word and number arrangement machine is given an input line of words and numbers, it arranges them following a particular rule. The following is an illustration of input and its rearrangement (All the numbers are two-digit numbers).

Input: 32 enter come 27 66 round number 52 42 good
Step I: come enter 27 66 round number 52 42 good 32
Step II: enter come 27 66 round number 52 good 32 42
Step III: good enter come 27 66 round number 32 42 52
Step IV: number good enter come 66 round 32 42 52 27
Step V: round number good enter come 32 42 52 27 66
And Step V is the last step of the above arrangement as the intended arrangement is obtained. As per the rules followed in the given steps, find out the appropriate steps for the given input.

Input
: right five 33 43 eager 73 their mouse 21 17 done 27
How many steps are required to complete this arrangement?

Question 14

Direction: Study the information given below and answer the questions based on it.

When a word and number arrangement machine is given an input line of words and numbers, it arranges them following a particular rule. The following is an illustration of input and its rearrangement (All the numbers are two-digit numbers).

Input: 32 enter come 27 66 round number 52 42 good
Step I: come enter 27 66 round number 52 42 good 32
Step II: enter come 27 66 round number 52 good 32 42
Step III: good enter come 27 66 round number 32 42 52
Step IV: number good enter come 66 round 32 42 52 27
Step V: round number good enter come 32 42 52 27 66
And Step V is the last step of the above arrangement as the intended arrangement is obtained. As per the rules followed in the given steps, find out the appropriate steps for the given input.

Input
: right five 33 43 eager 73 their mouse 21 17 done 27
How many elements are there between ‘mouse’ and ‘done’ in the last step?

Question 15

Direction: Study the information given below and answer the questions based on it.

When a word and number arrangement machine is given an input line of words and numbers, it arranges them following a particular rule. The following is an illustration of input and its rearrangement (All the numbers are two-digit numbers).

Input: 32 enter come 27 66 round number 52 42 good
Step I: come enter 27 66 round number 52 42 good 32
Step II: enter come 27 66 round number 52 good 32 42
Step III: good enter come 27 66 round number 32 42 52
Step IV: number good enter come 66 round 32 42 52 27
Step V: round number good enter come 32 42 52 27 66
And Step V is the last step of the above arrangement as the intended arrangement is obtained. As per the rules followed in the given steps, find out the appropriate steps for the given input.

Input
: right five 33 43 eager 73 their mouse 21 17 done 27
Which is fourth element to the left of the seventh element from the left end in the second-last step?

Question 16

Who among the following has been appointed as the CEO of the Unique Identification Authority of India (UIDAI)?

Question 17

On 22nd October 2019, India-Bangladesh Stakeholders’ Meet was held in which city in which trade and connectivity are in high on the agenda?

Question 18

As per the Credit Suisse Research Institute's 10th edition of Global Wealth Report, India has made what percent contribution to the global wealth?

Question 19

Name the financial service company which received a non-banking finance company license from the Reserve Bank of India (RBI)?

Question 20

Which company has received the National CSR Award 2018 for excellence in corporate social responsibility during the 1st edition of National Corporate Social Responsibility Awards (NCSRA) for 2019?
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