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 .
Income elasticity is computed by
A)
ei = (Y2 - Y1 ) / e1
B)
ei = (Y1 - Y2 ) / P1
C)
ei = (Q2 - Q1 ) / P1 ​
D)
ei = ( (Q2 - Q1 ) / Q1 ​) / ( (Y2 - Y1 ) / Y1 ​)

Correct Answer :   ei = ( (Q2 - Q1 ) / Q1 ​) / ( (Y2 - Y1 ) / Y1 ​)

Published On : May 18, 2021
2 .
Elasticity of demand measures the
A)
Volume of product
B)
Volume of product
C)
Sensitivity of production to changes in a particular cost
D)
Sensitivity of sales to changes in a particular causal factor

Correct Answer :   Sensitivity of sales to changes in a particular causal factor

Published On : May 18, 2021
3 .
A situation in which the number of competing firms is relatively small is known as
A)
Monopoly
B)
Oligopoly
C)
Monopsony
D)
Perfect competition

Correct Answer :   Oligopoly

Published On : May 18, 2021
4 .
Name the bank which has deployed Robotic Arms for currency sorting at its chests
A)
HDFC Bank
B)
AXIS Bank
C)
YES Bank
D)
ICICI Bank

Correct Answer :   ICICI Bank

Published On : May 18, 2021
5 .
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

Published On : May 18, 2021
6 .
World Investment report is brought out by
A)
World Economic Forum
B)
OECD
C)
IMF
D)
UNCTAD

Correct Answer :   UNCTAD

Published On : May 18, 2021
7 .
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.

Published On : May 18, 2021
8 .
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

Published On : May 18, 2021
9 .
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

Published On : May 18, 2021
10 .
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.

Published On : May 18, 2021
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