Current Affairs Question - 18 July 2022
Economy Watch
Surety Bonds
Which of the following statement(s) is /are correct about Surety Bonds:
- A surety bond is a promise to be liable for the debt, default, or failure of another.
- Surety bonds that are written for construction projects are called contract surety bonds.
- Commercial surety bonds cover a very broad range of surety bonds that guarantee performance by the principal of the obligation or undertaking described in the bond.
Choose the correct statement(s) from the options below:
| A |
Only 1
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| B |
2 and 3
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| C |
1, 2 and 3
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| D |
None ofthe above
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Economy Watch
Miscellaneous
Consider the given statements:
- A windfall tax is a one-off tax levied on an unforeseen or unexpectedly large profit, especially unfairly obtained by any company.
- Dutch Disease in economics refers to a phenomenon wherein a country witnesses uneven growth across sectors due to the discovery of natural resources, especially large oil reserves.
Choose the correct statement(s) from the options below:
| A |
Only 1
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| B |
Only 2
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| C |
Both 1 and 2
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| D |
Neither 1 nor 2
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