Latest Business and Economics General Knowledge(GK) Questions and answers

1 .

A tax-exempt bond, issued by federally qualified organizations or by municipalities for the development of brownfield sites, is known as

A)

Masala Bond

B)

Climate Bond

C)

Green Bond

D)

Social Impact Bond

Correct Answer : Green Bond

2 .

Which of the following is the correct statement regarding the new Open Acreage Licensing Policy for Oil and Gas Exploration?

A)

It allows bidders to carve out areas where they want to drill

B)

It prohibits licensing policy for oil exploration

C)

It allows oil and gas exploration

D)

It prohibits licensing policy for gas exploration

Correct Answer : It allows bidders to carve out areas where they want to drill

3 .

Cartels is a form of

A)

Monopoly

B)

Collusive oligopoly

C)

Non-Collusive oligopoly

D)

None of the above

Correct Answer : Collusive oligopoly

4 .

Demand Analysis includes :

A)

Demand Forecasting

B)

Demand Differentials

C)

Demand Determinations

D)

All of the above

Correct Answer : All of the above

5 .

Efficient allocation of resources is achieved to greatest extent under

A)

Monopoly

B)

Oligopoly

C)

Perfect competition

D)

Monopolistic competition

Correct Answer : Perfect competition

6 .

At elasticity of one, marginal revenue is equal to

A)

zero

B)

zero

C)

infinity

D)

none

Correct Answer : zero

7 .

Market with one buyer and one seller is called

A)

Bilateral Monopoly

B)

Monopsony

C)

Monopoly

D)

None of the above

Correct Answer : Bilateral Monopoly

8 .

Which of the following Prime Ministers of India, is regarded as the Father of Economic Reforms?

A)

Rajiv Gandhi

B)

P. V. Narshimha Rao

C)

Atal Bihari Vajpayee

D)

Manmohan Singh

Correct Answer : P. V. Narshimha Rao

Era of LPG (Liberalisation, Privatisation and Globalisation) was started in India in 1992, during the Prime Minister ship of P.V. Narsimha Rao. Dr. Manmohan Singh was the Finance Minister at that time.

9 .

Disguised unemployment generally means

A)

Large number of people remain unemployed

B)

Alternative employment is not available

C)

Marginal productivity of labour is zero

D)

Productivity of workers is low

Correct Answer : Marginal productivity of labour is zero

Disguised unemployment, means that more people are engaged in a job which can be done with less people, normally seen in agriculture where whole family is involved.

10 .

Who issues the Special Drawing Rights (SDR) in the following?

A)

Asian Development Bank

B)

International Monetary Fund

C)

World Trade Organization

D)

World Bank

Correct Answer : International Monetary Fund

The International Monetary Fund issues paper currency or SDR (Special Drawing Right) to member countries.