General Knowledge Questions

The  Directive  Principles  of  State Policy are enumerated in Part IV of the Constitution from Articles 36 to 51.   The   Directive   Principles   are non-justiciable  in  nature,  that  is, they are not legally enforceable by the  courts  for  their  violation.  So, the     Governments     cannot     be compelled   to   implement   them.Although the Constitution in Article 37  itself  says  that  these  principles are fundamental in the governance of  the  country  and  it  shall  be  the duty  of  the  State  to  apply  these principles  in  making  laws. These principles  reflect  the  ideology  of socialism, Gandhian and liberalism.

Error is in third part. Since “doing” was used in second part it should be followed by “doing” in third part as well instead of using “done”. Such repetitive figure of speech is used in
English grammar to create emphasis. This sentence indicates that a thing that is worth doing is also worthy of doing well. Here worth is the noun that must be followed by the verb doing.

The life-cycle theory of consumption, popularly known as life-cycle hypothesis,' was developed by Ando and Modigliani" in the early 1960s.

The life-cycle hypothesis postulates that individual consumption in any time period depends on

(i) resources available to the individual,

(ii) the rate of return on his capital, and

(iii) the age of the individual.

The resources available to an individual consist of his existing net wealth and the present value of all his current and future labour incomes. According to the life-cycle hypothesis, a rational consumer plans consumption on the basis of all his resources and allocates his income to consumption over time so that he maximizes his total utility over his life time.

All vehicle insurance policies will now include personal accident cover worth Rs 15 lakh in case of the death of the owner while driving or riding. This new rule will help the families of accident victims especially two-wheeler riders who are most of the time under-insured. The Insurance Regulatory and Development Authority (IRDAI) in a circular has directed all third-party insurance companies to include this cover to vehicle owners-drivers of all vehicles (two-wheelers, three-wheelers, passenger vehicles and commercial vehicles) for an additional premium of Rs 750 per year (annual insurance policy). This will now be part of the mandatory insurance cover that is a must for all vehicle owners.