General Knowledge(GK) (or) General Awareness

Welcome to the General Knowledge Section of Free Time Learning. As we are aware General Knowledge (GK) is a very important area in all the competitive exams held in the country. Nowadays, a good knowledge of general awareness is very important in clearing any competitive and government recruitment examinations.

These General Knowledge Question are very important and usefull to UPSC, IAS/PCS, UPPSC, IBPS, SBI, RBI, SSC, CGL, Railway, APPSC, TSPSC, KPSC, TNPSC, TPSC, UPPSC, MPSC, RPSC, BPSC, MPPSC, UKPSC, MPSC, and other competitive exams.

1 .
A perfectly competitive industry becomes a monopoly with the same cost conditions, it will now sell
A)
A larger output at the old price
B)
A larger output at a higher price
C)
A reduced output at a higher price
D)
An unchanged output at a higher price

Correct Answer :   A reduced output at a higher price

Published On : May 20, 2021
2 .
In Imperfect competition total revenue rises at _______ upto an output level and then ______
A)
An increasing rate, rises
B)
An increasing rate, falls
C)
A decreasing rate, rises
D)
A decreasing rate, falls

Correct Answer :   A decreasing rate, falls

Published On : May 20, 2021
3 .
A perfectly competitive market in the short run will be in equilibrium where
A)
MC = Zero
B)
MC = AC
C)
MC = MR
D)
None of the above

Correct Answer :   MC = Zero

Published On : May 20, 2021
4 .
Select the one which is not the responsibility of Gram Sabha under the Rural Employment Guarantee Act, 2005
A)
To recommend projects to the Gram Panchayat and prepare list of possible works
B)
To receive applications for work and issue a dated receipt
C)
To monitor the execution of works within the Gram Panchayat
D)
To conduct regular social audits of all the projects taken up with in the Gram Panchayat

Correct Answer :   To receive applications for work and issue a dated receipt

Published On : May 20, 2021
5 .
Which of the following statements is correct about Micro, Small and Medium Enterprises sector of Indian economy?
A)
There are an estimated 2.6 crore MSMEs in the country as on March 2019
B)
MSME sector provides employment to six crore persons
C)
MSMEs sector contributes 45 per cent to the manufacturing sector's output and 40 per cent to the nation's exports
D)
All of the above

Correct Answer :   All of the above

Published On : May 20, 2021
6 .
Fiscal Performance Index has been developed and released by
A)
Fourteenth Finance Commission
B)
Confederation of Indian Industry
C)
International Bank for Reconstruction and development
D)
Reserve Bank of India

Correct Answer :   Confederation of Indian Industry

Published On : May 20, 2021
7 .
Which of the following is not an instrument of fiscal policy?
A)
Primary deficit
B)
Management of Public Debt
C)
Tax structure
D)
Statutory Liquidity Ratio

Correct Answer :   Statutory Liquidity Ratio

Published On : May 20, 2021
8 .
What kind of tax is G.S.T.?
A)
Indirect Tax
B)
Direct Tax
C)
Depends on the type of goods and services
D)
None of the above

Correct Answer :   Indirect Tax

Published On : May 20, 2021
9 .
Methodology of estimation of national income in India changed from the year
A)
2012-13
B)
2013-14
C)
2014-15
D)
2015-16

Correct Answer :   2014-15

Published On : May 20, 2021
10 .
The Union Government has constituted a committee to form a strategy to expedite the process of transforming India into a cashless economy. The name of the committee is
A)
Shah Committee
B)
Amitabh Kant Committee
C)
Tarapore Committee
D)
Bimal Julka Committee

Correct Answer :   Amitabh Kant Committee

Published On : May 20, 2021
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