Business and Economics - General Knowledge Questions

1 .

In National Income (NI) accounts, Personal Income (PI) is defined as

A)

NI - undistributed profits - corporate tax + transfer payments to the households from the government and firms

B)

NI - undistributed profits - net interest payments made by households - corporate tax + transfer payments to the households from the government and firms

C)

Undistributed profits - net interest payments made by households + transfer payments to the households from the government and firms

D)

Undistributed profits - net interest payments made by households - corporate tax

Correct Answer : NI - undistributed profits - net interest payments made by households - corporate tax + transfer payments to the households from the government and firms

2 .

Which one of the following statements does not apply to the system of Subsidiary Alliance introduced by Lord Wellesley ?

A)

To maintain a large standing army at other's expense

B)

To keep India safe from Napoleonic danger

C)

To secure a fixed income for the Company

D)

To establish British paramountcy over the Indian States

Correct Answer : To secure a fixed income for the Company

3 .

Which of the following statements is/ are incorrect about World Bank's Ease of Doing Business Ranking 2019 ?

A)

A busines can be set up in a few hours in New Zealand

B)

Slovenia is the cheapest place to get a business up and running

C)

The US and South Korea were the only countries in the top 10 with a lower score in 2019 than last year

D)

China's rank in 2019 is in the gorup of 50-100 rank

Correct Answer : China's rank in 2019 is in the gorup of 50-100 rank

4 .

Which of the following money transfer modes has the lowest daily transfer limit ?

A)

Unified Payments Interface

B)

National Electronic Funds Transfer

C)

Immediate Payment Service

D)

Real Time Gross Settlement

Correct Answer : Unified Payments Interface

5 .

Per capita income of India at constant prices (Base year 2011-12) in 2017-18 is

A)

Rs. 86668

B)

Rs. 82229

C)

Rs. 77826

D)

Rs. 72805

Correct Answer : Rs. 86668

6 .

Which of the following statements is not valid in the case of an economy suffering from deflation ?

A)

Floating-rate savers are adversely affected

B)

Bonds enjoy a bull market

C)

Fixed rate borrowers are benefited

D)

Companies tend to spend less on new capital stock

Correct Answer : Fixed rate borrowers are benefited

7 .

Which one of the following countries has officially recognized Bitcoin as a legal payment method since Ist April, 2017 ?

A)

Japan

B)

China

C)

India

D)

USA

Correct Answer : Japan

8 .

India's exports in terms of US dollar registered a growth rate of 10.18 per cent during April-December 2018-19 over the same period of 2017-18. However, export growth rate in terms of rupees in the same period remained

A)

12.03%

B)

15.65%

C)

19.16%

D)

20.13%

Correct Answer : 19.16%

9 .

Which of the following is not included under non-tax revenue receipts for the Budget ?

A)

Interest receipts

B)

Stamp and Registration fee

C)

Receipts from social services

D)

Grants-in-aid

Correct Answer : Stamp and Registration fee

10 .

Which of the following has suggested bringing a legislation conferring on Farmers 'Right to Sell at MSP' (Minimum Support Price)

A)

The National Commission on Farmers, chaired by Prof. M. S. Swaminathan

B)

Commission for Agricultural Costs and Prices (CACP) in its Price Policy report for Kharif Crops for 2018-19 season

C)

Standing Committee on Agriculture

D)

Fourteenth Finance Commission

Correct Answer : Commission for Agricultural Costs and Prices (CACP) in its Price Policy report for Kharif Crops for 2018-19 season

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