Correct Answer: Both statements are true.
 

Solution : The correct answer is (a) Both statements are true.

Statement 1 accurately states that geothermal energy is a renewable source of energy derived from the heat of the Earth's interior. Geothermal energy is generated by tapping into the heat stored within the Earth's crust, which is a virtually limitless and continuously replenished resource.

Statement 2 is also true. Geothermal power plants harness geothermal heat and convert it into electricity using steam turbines. The process involves drilling wells to access hot water or steam reservoirs underground. The hot water or steam is then used to drive turbines, which generate electricity.

Both statements provide accurate information about geothermal energy and its conversion into electricity. 

Correct Answer: Seven

Solution : Seven sections are used in the creation of a report in Access, and these sections collectively make up the report design structure.

1. Report Header
2. Page Header
3. Group Header
4. Details
5. Group Footer
6. Page Footer
7. Report Footer

Hence the Correct answer is option 3.

Correct Answer: Regulating the insurance industry

Solution : The answer is (c) Regulating the insurance industry.

SEBI is the regulatory body for the securities market in India. It does not regulate the insurance industry. The insurance industry is regulated by the Insurance Regulatory and Development Authority of India (IRDA).

Correct Answer: Veterinary

Solution : Option 4 is the correct answer.

Veterinary is a surgeon who provides the treatment to the farm and domestic animals.

For Example:

The dog was taken to the veterinary after the accident.

Correct Answer: Commercial paper
 

Solution : The correct answer is (b) Commercial paper

To lower its borrowing costs and obtain short-term funding, GHI Corporation can use commercial paper. Commercial paper is a short-term debt instrument issued by corporations to raise funds for their short-term financing needs. It typically has a maturity of less than a year, making it suitable for short-term funding. Commercial paper often offers lower borrowing costs compared to other forms of debt due to its short-term nature and is an effective way for well-established companies like GHI Corporation to manage their short-term liquidity requirements at a lower cost. Treasury bills, another option mentioned, are also a money market instrument but may not provide as flexible terms or competitive rates for short-term corporate financing. Debentures and equity shares are long-term financing instruments and wouldn't be suitable for reducing short-term borrowing costs.

Correct Answer: Trade account

Solution : The correct answer is (d) Trade account

The "Trade account" is not a separate component of the balance of payments. However, it is commonly used to refer to the balance of trade, which is the difference between a country's exports and imports of goods and services.

Correct Answer: Deficient

Solution : The correct answer is option 4.

Explanation:

- The term "adequate" denotes an amount or quality that is satisfactory or acceptable.
- Let's examine the following alternatives' meanings:

•  Requisite - Required for a specific function.
• Tolerable- decent, or mediocre.
• Ample - Sufficient or abundant in quantity.
• Deficient: Not having enough of anything; inadequate or insufficient.
   

Correct Answer: A decrease in consumption expenditure
 

Solution : The correct answer is (a) A decrease in consumption expenditure.

The wealth effect suggests that an increase in the price level leads to a decrease in consumption expenditure. This effect occurs because as the price level rises, the purchasing power of individuals' wealth diminishes. In other words, their money can buy fewer goods and services.

When people perceive that their wealth has decreased in terms of real purchasing power, they tend to reduce their consumption expenditure. This is because they feel relatively poorer and have less disposable income available for spending. As a result, the overall level of consumption expenditure in the economy decreases.

Correct Answer: Assess the creditworthiness of issuers

Solution : The correct answer is (d) Assess the creditworthiness of issuers.

The primary function of credit rating agencies is to assess the creditworthiness of issuers, such as companies or governments, and assign credit ratings to their debt instruments. Credit rating agencies analyze the financial condition, business operations, and other relevant factors of the issuer to determine the likelihood of timely repayment of the issuer's debt obligations.Based on their analysis, credit rating agencies assign credit ratings to the issuer's debt instruments, such as bonds or other types of securities. These credit ratings provide an assessment of the issuer's ability to meet its financial obligations and serve as an indicator of the risk associated with investing in those debt instruments.

Correct Answer: Both statements are true.

Solution : The correct answer is (a) Both statements are true.

Statement 1 is true: The 1991 economic policy in India was introduced to address the balance of payments crisis. India was facing severe economic difficulties, including a high fiscal deficit and a balance of payments crisis, which necessitated the implementation of economic reforms.

Statement 2 is also true: The economic reforms of 1991 were initiated under the leadership of Prime Minister P.V. Narasimha Rao and Finance Minister Dr. Manmohan Singh. Rajiv Gandhi was the Prime Minister of India from 1984 to 1989 and was not in power during the period when the economic reforms were implemented.