General knowledge(GK)/GK General Knowledge - Business And Economics Question set 2 Sample Test,Sample questions

Question:
 A brownfield expansion broadly refers to -

1.Setting up a new factory

2.Extending an existing factory

3.Merging two units to create one large unit

4.Splitting one unit into several units


Question:
 Consider the following statements regarding Serious Fraud Investigation Office (SFIO) -
1. It is a statutory investigation agency in India.
2. It falls under the jurisdiction of the Ministry of Corporate Affairs.
Which of the statements given above is/ are correct?

1.1 only

2.2 only

3. Both 1 and 2

4.Neither 1 nor 2


Question:
 Deposit Insurance and Credit Guarantee Corporation (DICGC) has been permitted to increase Deposit Insurance Coverage for a depositor, which is now Rs. one lakh to -

1.Rs. 5 lakh per depositor

2.Rs. 10 lakh per depositor

3.Rs. 12 lakh per depositor

4.Rs. 15 lakh per depositor


Question:
 Form 16A, a TDS certificate, is not issued to -

1.Winners of lottery tickets

2.Salaried employees

3.Payments on account of repurchase of mutual funds units

4.Fees for technical services


Question:
 If a commodity is provided free to the public by the Government, then -

1.the opportunity cost is zero

2.the opportunity cost is ignored

3. the opportunity cost is transferred from the consumers of the product to the tax-paying public

4. the opportunity cost is transferred from the consumers of the product to the Government


Question:
 If a commodity is provided free to the public by the Government, then -

1.the opportunity cost is zero

2.the opportunity cost is ignored

3. the opportunity cost is transferred from the consumers of the product to the tax-paying public

4. the opportunity cost is transferred from the consumers of the product to the Government


Question:
 In the context of India, which of the following factors is/ are contributor/ contributors to reducing the risk of a currency crisis ?
1. The foreign currency earnings of India's IT sector.
2. Increasing the government expenditure.
3. Remittances from Indians abroad.
Select the correct answer using the code given below :

1.1 only

2.1 and 3 only

3.2 only

4.1, 2 and 3


Question:
 In the context of India, which of the following factors is/ are contributor/ contributors to reducing the risk of a currency crisis ?
1. The foreign currency earnings of India's IT sector.
2. Increasing the government expenditure.
3. Remittances from Indians abroad.
Select the correct answer using the code given below :

1.1 only

2.1 and 3 only

3.2 only

4.1, 2 and 3


Question:
 In the United State of America, the 144A Market refers to a market for -

1.Qualified Institutional Buyers (QIBs)

2.Domestic Retail Investors

3.Overseas retail investors

4.Inter-corporate debt placements


Question:
 International Financial Centre, first of its kind in India, is established in which state?

1.Maharashtra

2.Gujarat

3.West Bengal

4.Tamil Nadu


Question:
 NABARD was set up with an initial capital of -

1.Rs. 200 crore

2.Rs. 500 crore

3.Rs. 1500 crore

4.Rs. 100 crore


Question:
 NITI Ayog has replaced Planning commission, which for mulates India's Five Year Plan. How is NITI Ayog different from planning commission -
1. NITI Ayog acts as 'Think Tank' of Government of India, providing both directional and policy inputs.
2. NITI Ayog has power to allocate financial resources to states unlike planning commission.
Which of the statements given above is/ are correct?

1.1 only

2.2 only

3.Both 1 and 2

4.Neither 1 nor 2


Question:
 NITI Ayog has replaced Planning commission, which for mulates India's Five Year Plan. How is NITI Ayog different from planning commission -
1. NITI Ayog acts as 'Think Tank' of Government of India, providing both directional and policy inputs.
2. NITI Ayog has power to allocate financial resources to states unlike planning commission.
Which of the statements given above is/ are correct?

1.1 only

2.2 only

3.Both 1 and 2

4.Neither 1 nor 2


Question:
 Receipts in budget can be capital or revenue. Which of these is/ are capital receipts?
1. Loan recoveries
2. Provident funds deposits
3. Grants
Select the correct answer using the codes given below :

1.1 and 2 only

2.1 and 3 only

3.2 and 3 only

4.1, 2 and 3


Question:
 The 'Honey Mission' initiative of the Government of India aimed at production of healthy honey and wax is being implemented through -

1.Khadi and Village Industries Commission (KVIC)

2.District Rural Development Agency (DRDA)

3.Department of Food and Public Distribution

4.Other than those given as options


Question:
 The labour force can be defined as -

1.Those of workers who are seeking work and are available for work at current wage rate

2.Anyone who is working or actively seeking work

3.The population between school-leaving age and retirement age

4.Those who could claim benefit if they were to become unemployed


Question:
 The labour force can be defined as -

1.Those of workers who are seeking work and are available for work at current wage rate

2.Anyone who is working or actively seeking work

3.The population between school-leaving age and retirement age

4.Those who could claim benefit if they were to become unemployed


Question:
 The labour force can be defined as -

1.Those of workers who are seeking work and are available for work at current wage rate

2.Anyone who is working or actively seeking work

3.The population between school-leaving age and retirement age

4.Those who could claim benefit if they were to become unemployed


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

1.More liquidity in the market

2.Less liquidity in the market

3.No change in the liquidity in the market

4.Mobilization of more deposits by commercial banks


Question:
 Triffin Paradox is related to -

1.Bonds

2.Currencies

3.Equities

4.Commodities


Question:
 Which among the following is the method to estimate the poverty line in India?

1.Investment method

2.Capital method

3.Human method

4.Income method


Question:
 Which are the BRIC countries?

1.Brazil, Russia, India and Canada

2.Britain, Russia, India and China

3.Brazil, Russia, India and China

4.Britain, Russia, India and Canada


Question:
 Which Ministry of Government of India is related for India's Foreign Trade Policy?

1.Ministry of Defence

2.Ministry of External Affairs

3.Ministry of Commerce and Industry

4.Ministry of Home Affairs


Question:
 Which Ministry of Government of India is related for India's Foreign Trade Policy?

1.Ministry of Defence

2.Ministry of External Affairs

3.Ministry of Commerce and Industry

4.Ministry of Home Affairs


Question:
 Which of the following is not a non-cash expenditure for a company?

1.Expenditure on advertising

2.Depreciation

3.Goodwill impairment

4.Amortisation


Question:
 Which of the following taxes is also known as Google Tax?

1.Equalisation Levy

2.Capital Levy

3.Estate Duty

4.Gift Tax


Question:
 Why is the offering of 'teaser loans' by commercial banks a cause of economic concern?
1. The teaser loans are considered to be an aspect of sub-prime lending and banks may be exposed to the risk of defaulters in future.
2. In India, the teaser loans are mostly given to inexperienced entrepreneurs to set up manufacturing or export units.
Which of the statements given above is/ are correct?

1.1 only

2.2 only

3.Both 1 and 2

4.Neither 1 nor 2


Question:
........ occurs when people are willing to work, but the people searching for work are not qualified for the job.

1.Frictional Unemployment

2.Budding Unemployment

3.Structural Unemployment

4.Static Unemployment


Question:
A 'closed economy' is an economy in which -

1.the money supply is fully controlled

2.deficit financing takes place

3.only exports take place

4.neither exports nor imports take place


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

1.Masala Bond

2.Climate Bond

3.Green Bond

4.Social Impact Bond


Question:
Agriculture employs upto what per cent of the Indian Population?

1.80

2.60

3.40

4.70


Question:
All revenues received by the Union Government by way of taxes and other receipts for the conduct of Government business are credited to the -

1.Contingency Fund of India

2.Public Account

3.Consolidated Fund of India

4.Deposits and Advances Fund


Question:
Arrange the following Committees formed for small scale sector in a chronological order and select the correct answer from the codes given below -
I. Nayak Committee II. Abid Hussain Committee
III. S.S. Kohli Committee IV. Karve Committee
Codes :

1.I, II, IV, III

2.III, II, I, IV

3.IV, II, I, III

4.I, II, III, IV


Question:
Arrange the following Committees formed for small scale sector in a chronological order and select the correct answer from the codes given below -
I. Nayak Committee II. Abid Hussain Committee
III. S.S. Kohli Committee IV. Karve Committee
Codes :

1.I, II, IV, III

2.III, II, I, IV

3.IV, II, I, III

4.I, II, III, IV


Question:
As on October 2019, how many Maharatna Companies are in India?

1.8

2.9

3.10

4.12


Question:
Consider the following sentences regarding Crypto-currency.
1. Crypto-currency is a type of digital currency that uses cryptography for security and anti-counterfeiting measures.
2. Users must reach a consensus about crypto-currency's value and use it as an exchange medium.
3. It is tied to a particular country, its value is controlled by a central bank.
Which of the above sentence(s) is/ are incorrect?

1.1 and 2

2.Only 3

3.1 and 3

4.None of the above


Question:
Despite being a high saving economy, capital formation may not result in significant increase in output due to -

1.weak administrative machinery

2.illiteracy

3.high population density

4.high capital-output ratio


Question:
Foreign Exchange reserves in India are managed by -

1.CDSL

2.RBI

3.NSDL

4.Ministry of Finance


Question:
In which year was accounting separated from auditing and Comptroller and Auditor General's task only remained confined to auditing the Government Accounts?

1.1975

2.1977

3.1976

4.1981


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

1.industrial output fails to keep pace with agricultural output

2.agricultural output fails to keep pace with industrial output

3.poverty and unemployment increase

4.imports grow faster than exports


Question:
MDR is a free charged from a merchant by a bank for accepting payments from customers through credit and debit cards in their establishments. MDR stands for -

1.Merchant Discount Ratio

2.Merchant Discount Rate

3.Merchant Discount Rating

4.Merchant Development Rate


Question:
Multidimensional poverty index includes :
1. Health 2. Education 3. Living Standard
Select correct answer from the codes given below :

1.Only 1 is correct

2.Only 2 and 3 are correct

3.Only 1 and 2 are correct

4.1, 2, and 3 are correct


Question:
Name the bank which has deployed Robotic Arms for currency sorting at its chests.

1.HDFC Bank

2.AXIS Bank

3.YES Bank

4.ICICI Bank


Question:
National income can be increased by -

1.Increase in population

2. Increase in the rate of investment

3.Increase in unemployment

4.Decrease in price level


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

1.National Family Benefit Scheme

2.Annapurna

3.Mahila Kisan Sashaktikaran Pariyojana

4.All of the above


Question:
Operation Twist is related to -

1. Military Exercise

2.A Monetary policy tool

3.An exercise to fight insurgency

4.A move in hockey match


Question:
Outcome focused schemes for vocational education and training SANKALP and STRIVE launched by the Government of India, are supported by the -

1.International Labor Organization

2.World Bank

3.UN Economic and Social Council

4.World Economic Forum


Question:
Physical Quality of Life Index (PQLI) is developed by -

1.Morris D. Morris

2.UNDP

3.Mehbub-ul-Haq

4.None of the above


Question:
Poyais is a fictional -

1.Company

2.Currency

3.Country

4.Stock Exchange


Question:
The Dependency Ratio in India is declining because -

1.Population of 0-14 years is relatively high

2.Population of 60 years and above is relatively high

3.Population of 15-59 years is relatively high

4.Population of 0-14 years and 60 years and above together are relatively high


Question:
The Dependency Ratio in India is declining because -

1.Population of 0-14 years is relatively high

2.Population of 60 years and above is relatively high

3.Population of 15-59 years is relatively high

4.Population of 0-14 years and 60 years and above together are relatively high


Question:
The economic cost of food grains to the Food Corporation of India is Minimum Support Price and bonus (if any) paid to the farmers plus -

1.transportation cost only

2. interest cost only

3.procurement incidentals and distribution cost

4. procurement incidentals and charges for go downs


Question:
The Economic Survey is complied by -

1.Office of economic advisor

2.Central Statistical Office (CSO)

3.National Sample Survey Organization (NSSO)

4. Department of economic affairs


Question:
The Global Livability Index has been released by -

1.World Health Organization (WHO)

2.International Monetary Fund (IMF)

3.World Economic Forum (WEF)

4.Economist Intelligence Unit (EIU)


Question:
The purest form of the income of the nation is -

1.Net National Income

2.Gross National Income

3.Gross National Product

4.Net National Product


Question:
The Reserve Bank of India has given the final approval for the merger of district co-operative banks in?

1.Kerala

2.Tamil Nadu

3.Rajasthan

4.Odisha


Question:
There has been a persistent deficit budget year after year.
Which action/ actions of the following can be taken by the Government to reduce the deficit ?
1. Reducing revenue expenditure
2. Introducing new welfare schemes
3. Rationalizing subsidies
4. Reducing import duty
Select the correct answer using the code given below :

1.1 only

2.2 and 3 only

3.1 and 3 only

4.1, 2, 3 and 4


Question:
Tools for navigating the economy in a constant state of disequilibrium are -
I. Change in modeling approaches
II. Measurement of new concepts
III. Micro data
IV. Both stocks and flows
Correct code is :

1.Only I, II and III

2.Only II, III and IV

3.Only I, III and IV

4.I, II, III and IV all


Question:
Tools for navigating the economy in a constant state of disequilibrium are -
I. Change in modeling approaches
II. Measurement of new concepts
III. Micro data
IV. Both stocks and flows
Correct code is :

1.Only I, II and III

2.Only II, III and IV

3.Only I, III and IV

4.I, II, III and IV all


Question:
UN-Habitat is the United Nations programme working towards a better urban future. Where is the headquarters of UN-Habitat?

1.Johannesburg, South Africa

2.Nairobi, Kenya

3.Brasilia, Brazil

4.Tokyo, Japan


Question:
What is the difference between 'vote-on-account' and 'interim budget'?
1. The provision of a 'vote-on- account' is used by a regular Government, while an 'interim budget' is a provision used by a caretaker Government.
2. A 'vote-on-account' only deals with the expenditure in Government's budget, while an "interim budget" includes both expenditure and receipts.
Which of the statements; given above is/ are correct?

1.1 only

2.2 only

3.Both 1 and 2

4.Neither 1 nor 2


Question:
What is the full form of EPCG?

1.Export Promotion Consumer Goods

2.Exchange Programme for Consumer Goods

3.Export Promotion Capital Goods

4.Expert Programme for Credit Generation


Question:
What is the full form of EPCG?

1.Export Promotion Consumer Goods

2.Exchange Programme for Consumer Goods

3.Export Promotion Capital Goods

4.Expert Programme for Credit Generation


Question:
What kind of unemployment is found in the agriculture sector of India?

1.Situational

2.Voluntary

3.Disguise

4.Frictional


Question:
Where is the headquarters of Credit Saison India, which has received a non-banking financial company (NBFC) licence from the Reserve Bank of India?

1.New Delhi

2.Patna

3.Bengaluru

4.Kolkata


Question:
Where is the headquarters of Lakshmi Vilas Bank situated?

1.Bengaluru

2.Chennai

3.Kolkata

4.Nagpur


Question:
Which is the correct statement with reference to the recently launched e-RAKAM portal?

1.A digital platform for exchanging currencies

2.A digital platform for buying and selling agricultural products

3.A digital platform for paying taxes

4.A digital platform for imports and exports


Question:
Which of the following is a direct tax?

1.Corporation Tax

2.Custom Duty

3.Excise Duty

4.Service Tax


Question:
Which of the following is a Nodal Institution for implementation of Sustainable Development Goals in India?

1.Planning Commission

2.Disinvestment Commission

3.NITI Aayog

4.Finance Commission


Question:
Which of the following is not included in the assets of a commercial bank in India ?

1.Advances

2.Deposits

3.Investments

4.Money at call and short notice


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

1. It prohibits licensing policy for oil exploration

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

3. It prohibits licensing policy for gas exploration

4. It allows oil and gas exploration


Question:
Which of the following is the main function of National Development Council in India?

1.To activate the means and efforts of states for implementation of the planning 2) 3)

2.To develop the general policies in all the important areas

3.To confirm the balanced development in all the areas of the country

4.All of the above


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

1.Rajiv Gandhi

2.P. V. Narshimha Rao

3.Atal Bihari Vajpayee

4.Manmohan Singh


Question:
Which of the following tax is not included in Goods and Services Tax (GST)?

1.Excise Duty 2) 3)

2.Custom Duty

3.Value Added Tax

4.Service Tax


Question:
Which one of the following programmes was initiated during the Sixth Five-Year Plan?

1.Integrated Rural Development

2.Rural Literacy Development

3.Rural Railways

4.Advanced Communication Links for Rural People


Question:
Which one of the following statements correctly describes the meaning of legal tender money?

1.The money which is tendered in courts of law to defray the fee of legal cases

2.The money which a creditor is under compulsion to accept in settlement of his claims

3.The bank money in the form of cheques, drafts, bills of exchange etc.

4.The metallic money in circulation in a country


Question:
Which organisation has constituted a working group on Social Stock Exchanges (SSE) under the chairmanship of Ishaat Hussain, Director, SBI Foundation?

1. RBI

2.SEBI

3.IRDAI

4.NABARD


Question:
Who has propounded the concept of Limit to Growth?

1. Club of Rome

2.UNESCO

3.Brundtland Commission

4.Agenda 21


Question:
With reference to the functions of Public Sector in India, which of the following statements is/ are correct?
I. To provide public utility resources.
II. To build social and economic overhead capital.
III. To ensure balanced regional and sectoral growth.
IV. To pursue egalitarian goals.
Select the correct answer using the codes given below :

1.I, II and III are correct

2.II, III and IV are correct

3. I, II, III and IV are correct

4.I, III and IV are correct


Question:
World Investment report is brought out by -

1.World Economic Forum

2.OECD

3.IMF

4.UNCTAD


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