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

1 .

National Social Assistance Programme does not include the following scheme for 'Below Poverty Line' households

A)

National Family Benefit Scheme

B)

Annapurna

C)

Mahila Kisan Sashaktikaran Pariyojana

D)

All of the above

Correct Answer : Mahila Kisan Sashaktikaran Pariyojana

2 .

World Investment report is brought out by

A)

World Economic Forum

B)

OECD

C)

IMF

D)

UNCTAD

Correct Answer : UNCTAD

3 .

Increase is absolute and per capital real GNP does not connote a higher level of economic development, if

A)

industrial output fails to keep pace with agricultural output

B)

agricultural output fails to keep pace with industrial output

C)

poverty and unemployment increase

D)

imports grow faster than exports

Correct Answer : poverty and unemployment increase

An essential aspect of development is to enable the maximum number to experience the fruits of development. Concepts of per capita income (per capita GDP or per capita NSDP) are not able to capture this aspect of development.

4 .

The lowering of Bank Rate by the Reserve Bank of India leads to (2011)

A)

More liquidity in the market

B)

Less liquidity in the market

C)

No change in the liquidity in the market

D)

Mobilization of more deposits by commercial banks

Correct Answer : More liquidity in the market

5 .

Why are the indirect taxes termed regressive taxing mechanism?

A)

They are charged at higher rate than direct taxes

B)

They are charged the same rates for all income groups

C)

They are not charged the same for all income groups

D)

None of the above

Correct Answer : They are charged the same rates for all income groups

6 .

As on October 16, 2020 total membership of International Monetary Fund is

A)

189 countries

B)

190 countries

C)

191 countries

D)

192 countries

Correct Answer : 190 countries

A small European nation Androrra became 190 the member of International Monetary Fund on October 16, 2020.

7 .

The Travel and Tourism Competitive Index (TTCI) is released by

A)

World Bank

B)

International Monetary Fund

C)

World Economic Forum

D)

United Nations Development Programme

Correct Answer : World Economic Forum

8 .

A country is said to be in a debt trap if

A)

The World Bank charges a very high rate of interest on outstanding & new loans

B)

It has to borrow to make interest payments on outstanding loans

C)

It has to abide by the conditionalities imposed by the International Monetary Fund

D)

It has been refused loans or aid by creditors abroad

Correct Answer : It has to borrow to make interest payments on outstanding loans

9 .

Which economist developed international trade theory in 1817 based on comparative advantage and specialization ?

A)

Paul Krugman

B)

Milton Friedman

C)

Gary Becker

D)

David Picardo

Correct Answer : David Picardo

10 .

The term 'mixed economy' denoted

A)

existence of both private and public sectors

B)

existence of both rural and urban sectors

C)

existence of both heavy and small industries

D)

existence of both developed and underdeveloped sectors

Correct Answer : existence of both private and public sectors