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( Best 60+ ) National Income MCQ

by Mr. DJ
written by Mr. DJ

National Income MCQ

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National Income MCQ

National Income MCQ

1. The average income of a country is called

A. Per capita income

B. Disposable income

C. Inflation rate

D. Real national income

Answer: –

A. Per capita income

2. The value of NNP at production point is called

A. NNP at factor cost

B. NNP at market price

C. GNP at market price

D. GNP at factor cost

Answer: –

A. NNP at factor cost

3. The value of NNP at consumer point is called the

A. NNP at factor cost

B. NNP at market price

C. GNP at market price

D. GNP at factor cost

Answer: –

B. NNP at market price

4. When depreciation is deducted from GNP, the net value is

A. Net national product (NNP)

B. Net domestic product

C. Gross national product

D. Disposable income

Answer: –

A. Net national product (NNP)

5. Consider the following statements and identify the right ones.
i. While calculating GNP, income generated by foreigners in a country is taken into consideration ii. While calculating GNP, income generated by nationals of a country outside the country is taken into account

A. I only

B. ii only

C. both

D. none

Answer: –

B. ii only

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6. What is the net value of GDP after deducting depreciation from GDP(Gross domestic product)?

A. Net national product

B. Net domestic product

C. Gross national product

D. Disposable income

Answer: –

B. Net domestic product

7. Consider the following statements and identify the right ones.
i. National income is the monetary value of all final goods and services produced. ii. Depreciation is deducted from gross value to get the net value

A. I only

B. ii only

C. both

D. none

Answer: –

C. both

8. Which of the following is considered as financial year in India?

A. April 1 to March 31

B. January 1 to December 31

C. March 1 to April 30

D. March 16 to March 15

Answer: –

A. April 1 to March 31

9. Which is not added in the calculation of national income of India?

A. The value of goods and services

B. The sold value of the old fridge

C. Services rendered by the housewives

D. Both [B] & [C]

Answer: –

D. Both [B] & [C]

10. Which sector contributes the most to India’s economy in terms of GDP?

A. Service sector

B. Manufacturing sector

C. Agricultural sector

D. Small scale industries

Answer: –

A. Service sector

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( Best 50+ ) Accounting Standards MCQ

by Mr. DJ
written by Mr. DJ

Accounting Standards MCQ

Accounting Standards MCQ

Accounting Standards MCQ

1. The global key professional accounting body is

A. The International Accounting Standards Board

B. The Institute of Chartered Accountants of India

C. The Financial accounting standard boa

Answer: –

A. The International Accounting Standards Board

2. International Public Sector Accounting Standards were issued by

A. International Accounting Standards Board.

B. International Auditing Practices Committee.

C. International Federation of Accountants.

D. None of the above

Answer: –

C. International Federation of Accountants.

3. The process of recording financial data up to trial balance is

A. Book keeping

B. Classifying

C. Summarizing

D. Analyzing

Answer: –

A. Book keeping

4. In which of the following cases, accounting estimates are needed?

A. Employs benefit schemes

B. Impairment of losses

C. Inventory obsolescence

D. All of the above

Answer: –

D. All of the above

5. The long term assets that have no physical existence but, possess a value is
known as,

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

Answer: –

C. Intangible assets

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6. Which of these best explains fixed assets?

A. Are bought to be used in the business.

B. Are expensive items bought for the business

C. Are items which will not wear out quickly

D. Are of long life and are not purchased specifically for resale

Answer: –

A. Are bought to be used in the business.

7. The assets that can be easily converted into cash within a short period (i.e., 1
year or less is known as,

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

Answer: –

A. Current assets

8. Which of the following statement is correct?

A. The amount of Goodwill or Capital Reserve is found out in the books of purchasing company only

B. The amount of Goodwill or Capital Reserve is found out in the books of vendor company only.

C. Goodwill = Net Assets – Purchase price

D. The face value of shares of purchasing company will be taken in to account while calculating purchase consideration.

Answer: –

C. Goodwill = Net Assets – Purchase price

9. Hitesh Ltd.’s purchase consideration is Rs.12,345 and Net Assets Rs.3,568,
then………..

A. Goodwill Rs. 8,777

B. Capital Reserve Rs. 8,777

C. Goodwill Rs. 15,913

D. Capital Reserve Rs. 15,913

Answer: –

A. Goodwill Rs. 8,777

10. If the two companies have different accounting policies in respect of the same item, then they make necessary changes to adopt ………….. accounting policies.

A. Same

B. Different

C. Important

D. Some

Answer: –

A. Same

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( Best 400+ ) Advertising and Sales Promotion MCQ

by Mr. DJ
written by Mr. DJ

Advertising and Sales Promotion MCQ

Advertising and Sales Promotion MCQ

1. Attitudes toward a brand result from a combination of __________________ attitude-formation processes.

  1. primary and secondary
  2. linear and non-linear
  3. associative and non-associative
  4. central- and peripheral-route
  5. None of the above.
Correct answer: (D) central- and peripheral-route

2. A strength of radio advertising is ________________

  1. the ability to reach segmented audiences
  2. the ability to reach prospective customers on a personal and intimate level
  3. low cost per thousand
  4. short lead-times
  5. All of the above

Correct answer: (E) All of the above

3. In a _________________ advertising schedule, advertising is used during every period of the campaign, but the amount of advertising varies considerably from period to period.

  1. flighting
  2. dated
  3. plotted
  4. pulsing
  5. continuous
Correct answer: (D) pulsing

4. Marketers can enhance the consumers’ ability to access knowledge structures by ________________

  1. using loud music
  2. using colorful ads
  3. employing verbal framing
  4. repeating brand information
  5. increasing curiosity about the brand
Correct answer: (C) repeating brand information

5. All marketing activities that attempt to stimulate quick buyer action or immediate sales of a product are known as ______________________

  1. Sponsorship
  2. Advertising
  3. personal selling
  4. sales promotion
  5. Publicity
Correct answer: (D) sales promotion

6. A detergent that advertises how clean it gets clothes is appealing to the ___________________ consumer need

  1. Functional
  2. Symbolic
  3. Biological
  4. Utilitarian
  5. Experiential
Correct answer: (A) Functional

7. Which of the following is NOT a requirement for setting advertising objectives?

  1. Objectives must specify the amount of change.
  2. Objectives must be stated in terms of profits.
  3. Objectives must be realistic.
  4. Objectives must be internally consistent.
  5. Objectives must be clear and in writing.
Correct answer: (B) Objectives must be stated in terms of profits.

8. The ______________________ component of attitudes focuses on behavioral tendencies

  1. Affective
  2. Instrumental
  3. Conative
  4. Cognitive
  5. Behavioral
Correct answer: (C) Conative

9. The process of translating thought into a symbolic form is known as _____________________

  1. Encoding
  2. Feedback
  3. Noise
  4. Decoding
  5. the message channel

 

Correct answer: (A) Encoding

10. Margaret Stephens notices the television commercial because of the loud sounds. This is an example of ______________________

  1. exposure
  2. involuntary attention
  3. nonvoluntary attention
  4. voluntary attention
  5. interpretation

 

Correct answer: (B)

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What is Geo-spatial data? Know all about India’s latest mapping policy ( Best )

by Mr. DJ
written by Mr. DJ

What is Geo-spatial data? Know all about India’s latest mapping policy here

What is Geo-spatial Data ?

It is the data about the objects and the events that have a location on the surface of the Earth. The location may be static in the short term such as a road location, an earthquake etc or may be dynamic data such as a moving vehicle or spread of an infectious disease.

Geo-spatial data carries the location information, the attribute information such as events, objects or phenomenons and temporal information at a time at which the location exists.

Geo-spatial data involves the information of public interest like roads, rail lines, localities, water bodies and amenities. There has been an increase in the use of geo-spatial data in everyday life with different applications (apps) like Swiggy, Zomato, Amazon or Accu Weather.

What is Geo-spatial Data ?

Why in News?

The Government of India has decided to ease the mapping policies. The Department of Science and Technology while announcing changes said, “What is readily available globally does not need to be restricted in India and therefore geo-spatial data that used to be restricted will now be freely available in India.” Know all about the recent changes in the mapping policy and about Geo Spatial data below.

 

What is geospatial data used for?
Geospatial data (also known as “spatial data”) is used to describe data that represents features or objects on the Earth’s surface. Whether it’s man-made or natural, if it has to do with a specific location on the globe, it’s geospatial.
What is meant by geospatial data?
Spatial data, also known as geospatial data, is a term used to describe any data related to or containing information about a specific location on the Earth’s surface.
What is spatial and Nonspatial data?
Non-spatial DataSpatial DataData that define a location. These are in the form of graphic primitives that areusually either points, lines, polygons or pixels. • Spatial data includes location, shape, size, and orientation.
What are the types of spatial data?
Spatial data comprise the relative geographic information about the earth and its features. A pair of latitude and longitude coordinates defines a specific location on earth. Spatial data are of two types according to the storing technique, namely,
  • Raster data 
  • Vector data.
Who uses geospatial data?
Geospatial imagery analytics is most often used for examining climate conditions, urban planning and disaster response management. There are five markets in geospatial imagery analytics: Imaging — segmented into video and image.
Why is spatial data special?
Yes, spatial data is special. Location does matter. Nearby events are more correlated to one another. Spatial data calls for special techniques to tackle autocorrelation problems.

Current Geo-Spatial Data Policy:

  1. There are various restrictions put by the Government of India currently. The restrictions are imposed on the sales, usage, storage and collection of geo-spatial data and mapping.
  2. The problem was that the policy has not been renewed in the past few decades. This has caused internal and external security concerns.
  3. The sector so far has been dominated by the Indian Government as well as government aided agencies like Survey of India.
  4. The private organizations need to go through a system of permissions from various departments of the Government of India as well as Defence and the Home Ministry. It is after this that they are able to collect or create or disseminate the data collected.
  5. Earlier the geo-spatial data was a matter concerned with security and was the prerogative of the defence forces and the government.
  6. GIS mapping was rudimentary too. The Government began investing in it after the Kargil war. This highlighted the dependence on foreign data and the requirement of indigenous sources of the data.

Mapping Policy: Reason for Deregulation  

  1. This system of acquiring licenses. It involves red tape which is why it takes months, delaying projects as a result
  2. Those projects that are mission mode for both Indian organizations and the government agencies
  3. The deregulation would eliminate the requirement of permissions as well as scrutiny and security
  4. Indian companies are now allowed to self attest, conforming to the guidelines of the Government without being in actual monitoring of the individual
  5. The guidelines would be helpful to gain the trust of business entities in India
  6. There has also been a huge lack in the data in the country. It impedes planning for infrastructure , development and business based on the data
  7. The mapping of the entire country with high accuracy would take decades

Mapping Policy: Benefits of Deregulation

  1. PM Modi added that the reforms will unlock tremendous opportunities for India’s start-ups, private sector, public sector and research institutions to drive innovations and build great solutions.
  2. According to the Ministry of Science & Technology, India’s startups and mapping innovators would be trusted to self-certify, apply good judgement and be relied upon to demonstrate adherence to guidelines.
  3. Liberalization would ensure more accurate data available for government to plan and administer for individual Indians. Startups and settled business could also use this data to set up concerns in e-commerce or other geo-spatial based apps.
  4. The employment would also see a boost in the sector.

The Ministry of Science & Technology, “with the next generation of mapping technology just about coming into its own around the world, this policy will enable Indian innovators to create substantial advances in mapping ultimately making our lives easier and empowering small businesses. We look forward to India emerging as a mapping power, creating next-generation indigenous maps of India and taking these new technologies to the rest of the world.”

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How higher petrol price and diesel prices impact you

by Mr. DJ
written by Mr. DJ

How higher petrol price and diesel prices impact you

How higher petrol and diesel prices impact you : Petrol is now retailing above Rs 90 per litre in all major cities including Delhi and is on the verge of crossing Rs 100 in major cities. It has already hit a century in some circles. Diesel, too, has climbed to levels never seen before in the country. Here is how it affects you:

The rising price of petrol has led to an interesting development in states which border India’s neighboring country Nepal. Petrol is cheaper by around ₹22 there.

How higher petrol price and diesel prices impact you

According to Hindustan Times’ sister publication Livehindustan, some people in Bihar’s Araria and Kishanganj are crossing the border using narrow tracks, away from the main roads, to smuggle in the petrol. Many such people have been caught by local police and SSB jawans, Livehindustan reported.

While petrol is retailing at ₹93.50 per litre in Bihar’s Araria, it is available at ₹70.62 in Nepal, according to Livehindustan.

Nepal gets the supply of petrol from India. According to an old treaty between the two countries, Indian Oil Corporation (IOC) imports petrol for Nepal from the Gulf countries. It is sold at the cost price, only refinery fees is charged due to which the fuel retails cheap in the Himalayan country.

“The smuggling of petrol from Nepal is affecting the sales in domestic market,” said Sudhir Kumar, who owns a fuel station in Jogbani town.

The Deputy Inspector General (DIG) of SSB, SK Sarangi, was quoted as saying by Livehindustan that patrolling has been intensified in border areas. Kishanganj SP Kumar Ashish said the patrolling will be done along with SSB and instructions will be given to all police stations.

There are many areas in interior parts of Bihar where people easily cross the border through narrow tracks. The petrol that is brought in illegally from Nepal is sold to small retailers at less price.

Meanwhile, petrol price was hiked by 34 paise per litre and diesel by 32 paise on Thursday, according to a price notification of state-owned fuel retailers.

After the relentless hike over the last 10 days, petrol is nearing ₹100 mark in many cities across India.

Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh.

Why Is The Petrol Price Rising?

The rise in price is due to increase in taxation by the centre and the state, to make up for loss of revenue during the lockdown. Excise duty by centre and VAT by state govt escalates prices.

While a lot of us are still working from home, the ones who must move out are increasingly switching to personal vehicles to maintain social distancing. At a time when prices are as high as that of October of 2018, we are under the impact of sky-rocketing fuel cost more than ever before.

With the discovery of a new strain of Corona virus discovered in UK, crude oil prices have started declining yet again. However, the average Indian consumer is yet to reap its benefit.

What are the core reasons behind the increasing oil prices?

· India imports 84% of its domestic demands of crude oil, which is why the price fluctuates in tandem with global demand. The impact of COVID 19 on the economy and decreased fuel demand initially led to a fall in global oil prices. Now with the market recovering, prices are slowly showing an upward trend. The prospects of developing a Covid-19 vaccine is also a key reason for economic optimism.

· Since Corona virus has hit the economy substantially, to overcome the situation, state governments have increased the duties on petrol and diesel. In fact, taxes constitute 69% of the total price of petrol that we as consumers pay. For example, excise duty on petrol has increased to Rs. 32.9 from Rs. 19.98 at the beginning of the year.

· From the standpoint of pure economics, exchange rate has a profound impact on the amount of oil India can purchase in the international market. This implies we are

able to purchase less oil with the same amount as we did earlier. Inversely, the government needs more money, to import the same quantum of oil.

· Presently the price of petrol and diesel in the National Capital remains unchanged from the week gone by at ₹ 83.71 per litre, and ₹ 73.87 per litre respectively. While in Mumbai, petrol and diesel rates were at ₹ 90.34 per litre and ₹ 80.51 per litre respectively.

The rise in price is due to increase in taxation by the centre and the state, to make up for loss of revenue during the lockdown. Excise duty by centre and VAT by state govt escalates prices. The tax collected is used by the central government to balance the fiscal situation. At 69%, India is one of the most highly fuel-taxed countries in the world, with Italy following at 64%, and USA at a minimal 19%. The exact breakup of petrol prices can be seen from the chart below:

Rajya Sabha member and noted economist, Subramaniam Swami expressed his apprehension on the rising fuel prices,

“Petrol price at Rs. 90 per litre is a monumental exploitation by GoI of the people of India. The price ex-refinery of petrol is Rs. 30/litre. All kinds of taxes and Petrol pump commission add up the remainder Rs.60. In my view petrol must sell at max. Rs. 40 per litre.”

· At this stage it is relevant to note, that the petrol price is largely driven by international agencies which control demand and supply. On the international front, for example, OPEC (Organization of the Petroleum Exporting), countries decided to cut down oil production by 10 million barrels a day, hoping to boost energy prices.

Impact on common man:

Increase in petrol prices will impact the cost of production and manufacturing on energy input industries. Given that almost every industry is driven by energy, he cost of which ultimately boils down to the consumer. This will ultimately have a negative impact on the scale of production. This may prove counter productive if the prices increase further leading to a collapse in demand.

Usually, when fuel prices go up, we see an inflationary impact and depreciating exchange rate. This will impact anyone owning a business which involved foreign currency. An industry insider who wishes to remain anonymous has noted:

“Diesel has a secondary effect. Since all the trucks run on diesel, it will increase the freight cost, which in turn finds its way to increasing price of food grains, goods and other products.”

The rising cost of diesel will thus hurt the common man. Most of the public transport systems run on diesel in most cities. The bus ride cost will go up. Over and above, India is at a retail inflationary high of 7.6%. The increasing gap between job losses and rising prices can be deadly for the economy and the economy.

The price rise may lead to some hardship on the part of the consumer. However, taxation is an important part of welfare state, and the impact of a higher tax will be seen in the long run.

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Current Affairs Quiz-18 February 2021

by Mr. DJ
written by Mr. DJ

Current Affairs Quiz-18 February 2021

  1. The Pilot Pey Jal Survekshan has been launched by the Government under the Jal Jeevan Mission- Urban, JJM-U, in how many cities?
    A) 21
    B) 9
    C) 16
    D) 10

  1. Name the government instant messaging systems (GIMS) platform launched by the Centre on the lines of Whatsapp?
    A) Sandes
    B) Sampark
    C) Aadesh
    D) Khabri

  1. Kiran Bedi has been removed as the Lieutenant-Governor of Puducherry. Who has been given the additional charge of the post?
    A) Biswabhusan Harichandan
    B) Ganeshi Lal
    C) Tamilisai Soundararajan
    D) Bhagat Singh Koshyari

  1. Flipkart has partnered with which insurance company to offer ‘Group SafeGuard’ insurance policy to its customers?
    A) Bajaj Allianz
    B) ICICI Lombard
    C) Edelweiss Tokio Life
    D) Bharti AXA

  1. The sustainable electric two-wheeler,named ‘PiMo’ has been developed by which institution?
    A) IIT Madras
    B) IIT Delhi
    C) IIT Kanpur
    D) IIT Kharagpur

  1. Indian Sign Language (ISL) Dictionary 2021 is which edition of the dictionary released by the government?
    A) 1st
    B) 2nd
    C) 3rd
    D) 4th

  1. Dharmendra Pradhan represented India at the 11th IEA-IEF-OPEC Symposium on Energy Outlooks, held virtually. The symposium was held under the patronage of which country?
    A) Australia
    B) Israel
    C) United Kingdom
    D) Saudi Arabia

  1. How much amount of the PLI Scheme has been approved by the Government for telecom equipment and networking product manufacturing recently?
    A) Rs 12,000 crore
    B) Rs 12,195 crore
    C) Rs 12,250 crore
    D) Rs 12,325 crore

  1. Prime Minister Narendra Modi has recently laid the foundation stone of Cauvery Basin Refinery in which state?
    A) Tamil Nadu
    B) Odisha
    C) Kerala
    D) Andhra Pradesh

  1. The Indian navy has joined the “Iran-Russia Maritime Security Belt 2021”. The exercise has been organised in which region?
    A) Arctic Ocean
    B) Pacific Ocean
    C) South China Sea
    D) Indian Ocean

  1. How much amount has been allocated to the  Jal Jeevan Mission- Urban (JJM-U)in 2021-22?
    A) Rs 2.30 lakh crore
    B) Rs 1.19 lakh crore
    C) Rs 2.87 lakh crore
    D) Rs 1.75 lakh crore

  1. The Indian Sign Language (ISL) Dictionary released on 17 February 2021 contains how many terms in total?
    A) 7000
    B) 10000
    C) 9000
    D) 12000

 

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Business Environment MCQs

by Mr. DJ
written by Mr. DJ

Business Environment MCQs – Gk By Mr. DJ

1. Liberalization means

A. Free determination of interest rates

B. Liberating the industry, trade and economy from unwanted restrictions

C. Opening up of economy to the world by attaining international competitiveness

D. Reducing number of reserved industries from 17 to 8

Answer: B

2. When a company taken over another one and clearly becomes the new owner, the action is called

A. Acquisition

B. Merger

C. Strategic Alliance

D. None of the above

Answer: A

3. By which act does the government check restrictive trade?

A. MRTP Act

B. FEMA act

C. Industrial Policy Act 1991

D. None of these

Answer: A

4. Which among the following is not opened for private sector participation

A. Railways

B. Telecommunication sector

C. Education sector

D. Power sector

Answer: A

5. Which among these can be the condition for the success of privatisation?

A. Measurability of performance

B. Alternative institutional arrangements

C. Barriers to enter the market

D. All of the above

Answer: C

6. Which among these is monopolistic trade practice?

A. Manufacturing only one product

B. Selling only one product

C. Limiting technical Development

D. Unreasonably limiting competition

Answer: A

7. The Industrial policy resolution was passed first in

A. 1947

B. 1956

C. 1931

D.1999

Answer: B

8. Globalisation is the term used to describe process of removal of restriction on

A. Investment

B. Foreign Trade

C. Both (A) and (B)

D. None of the above

Answer: C

9. Laissez Faire policy is adopted in

A. Socialist Economic system

B. Capitalist Economic system

C. Communist Economic System

D. Mixed Economic System

Answer: B

10. Which one is not the main objective of Fiscal Policy in India?

A. To promote employment opportunities

B. To minimize the inequalities of income and wealth

C. To promote price stability

D. To increase liquidity in economy

Answer: D

  1. In which production India has attained self-sufficiency?
  1. Fertilizers
  2. Edible oil
  3. Petroleum
  4. Food grains

Correct answer: (D)
Food grains

  1. Closed economy’ is one in which
  1. Only export takes place
  2. Neither exports nor imports take place
  3. Money supply is fully controlled
  4. Exchange rates are under a full control of the government

Correct answer: (B)
Neither exports nor imports take place

  1. The largest share in India’s national income is from
  1. Service sector
  2. Agriculture sector
  3. Manufacturing sector
  4. Trade sector

Correct answer: (A)
Service sector

  1. Which of the following countries per capita income is the highest?
  1. India
  2. Bangladesh
  3. Thailand
  4. Pakistan

Correct answer: (C)
Thailand

  1. Which of the following is not a fundamental right enshrined in the Indian Constitution?
  1. Right to freedom of religion
  2. Right to equality
  3. Right to equal pay for equal work for men as well as women
  4. Right to freedom of thought and expression

Correct answer: (C)
Right to equal pay for equal work for men as well as women

  1. Among the supply side measures to control inflation is
  1. Curtailing public expenditure
  2. Mopping up excess liquidity through taxation
  3. Credit control measures of RBI
  4. Maintaining price levels through ‘administered price mechanism’ and ‘effective PDS’

Correct answer: (D)
Maintaining price levels through ‘administered price mechanism’ and ‘effective PDS’

  1. Which of the following items is not included in a country’s balance of payments?
  1. Shipping services
  2. Interest received from abroad
  3. Import and export duties
  4. Tourists’ expenditure

Correct answer: (C)
Import and export duties

  1. Which of the following is the most integrated form of regional economic arrangement?
  1. Customs union
  2. Economic union
  3. Free trade area
  4. Multilateral trading area

Correct answer: (B)
Economic union

  1. A situation where a country exports a product at a price below its cost of production.
  1. Full cost pricing
  2. New protectionism
  3. Dumping
  4. Price skimming

Correct answer: (C)
Dumping

  1. Coca Cola is a good example of a ___________________ MNC (Multinational Corporation).
  1. conglomerate
  2. free-standing
  3. vertically integrated
  4. horizontally integrated

Correct answer: (A)
conglomerate

  1. Which of the following is NOT likely to be a benefit that host countries will obtain from MNCs?
  1. Technology transfer
  2. Import substitution
  3. The ability to impose high tax rates on them
  4. Job creation

Correct answer: (A)
Technology transfer

  1. Which of the following can be a disadvantage to the host country of MNC investment:
  1. Drives out domestic competitors
  2. Sends profits abroad
  3. Threatens to leave if not “helped”.
  4. Imports components

Correct answer: (A)
Drives out domestic competitors

  1. National Income estimates in India is prepared by
  1. Planning Commission
  2. RBI
  3. Finance Ministry
  4. C.S.O

Correct answer: (D)
C.S.O

  1. Mixed economy means
  1. Co–existence of small and large industries
  2. Promoting both agriculture and industries in the economy
  3. Co–existence rich and poor
  4. Co–existence of public and private sectors

Correct answer: (D)
Co-existence of public and private sectors

  1. Black money in India
  1. Raises domestic prices
  2. Encourages lavish consumption
  3. Causes loss of revenue to the exchequer
  4. Effects all of the above

Correct answer: (D)
Effects all of the above

  1. Income tax is an item of
  1. Concurrent List
  2. State list
  3. Union List
  4. Residuary List

Correct answer: (C)
Union List

  1. Inflation, in theory occurs
  1. When prices of essential commodities outstrip income
  2. When money supply grows at a higher rate than GDP in real terms
  3. When exchange rate of domestic currency falls in foreign exchange markets
  4. When fiscal deficit exceeds balance of payments deficit.

Correct answer: (B)
When money supply grows at a higher rate than GDP in real terms

  1. The objective of case-study is
  1. Remedial
  2. Diagnostic
  3. Educational
  4. All of the above

Correct answer: (C)
Educational

  1. Which of the following regulates the working of stock markets in India?
  1. FEMA
  2. RBI
  3. SEBI
  4. Ministry of Finance

Correct answer: (C)
SEBI

  1. Find the odd one out
  1. IOCL
  2. HPCL
  3. ONGC Ltd.
  4. ESSAR OIL

Correct answer: (D)
ESSAR OIL

  1. The main watchdog of international trade is
  1. IMF
  2. World Bank
  3. WTO
  4. UNCTAD

Correct answer: (C)
WTO

  1. Who is the Chairman of NDC?
  1. Finance Minister
  2. Prime Minister
  3. Lok Sabha Speaker
  4. Minister of Planning

Correct answer: (B)
Prime Minister

  1. India is not a member of
  1. G-15
  2. ASEAN
  3. UNO
  4. ILO

Correct answer: (B)
ASEAN

  1. Stagflation means
  1. Inflation with recession
  2. Recession and stagnation
  3. Inflation galloping like a stag
  4. Inflation and increasing output

Correct answer: (A)
Inflation with recession

  1. ‘Level playing field’ argument of industries requires
  1. MNCs to be stopped from investing in India
  2. Licence to MNCs be given only in environment-friendly technologies
  3. MNCs to be treated at par with the domestic industry
  4. Domestic industry to be given preference over MNCs.

Correct answer: (C)
MNCs to be treated at par with the domestic industry

  1. Which two of the following are the most likely effects of the imposition of a tariff on an imported good?
  1. The domestic price of the imported good will fall
  2. Overseas production of the good may be stimulated
  3. Overseas employment will rise
  4. The domestic price of the imported good will rise
  5. Gain of tax revenue by the government
  1. (c) and (d)
  2. (a) and (c)
  3. (d) and (e)
  4. (b) and (d)

Correct answer: (C)
d) and (e)

  1. Which two of the following arguments are most likely to be used to justify protectionism?
  1. To protect high cost domestic industries
  2. To protect strategically important industries
  3. To protect industries which are still immature
  4. To maximise government tax revenue
  5. To protect environmental standards
  1. (d) and (e)
  2. (a) and (b)
  3. (c) and (d)
  4. (b) and (c)

Correct answer: (D)
b) and c)

  1. A protectionist measure whereby members of a regional trading bloc agree to impose an identical rate of protection on all goods imported from non-member countries.
  1. Common quota arrangements
  2. Non-tariff agreement
  3. Technological standards control
  4. VER agreements

Correct answer: (B)
Non-tariff agreement

  1. A situation where any advantage given by one member of the WTO to another member must be extended to all WTO members.
  1. The excessive invoicing principle
  2. The intra-regional principle
  3. The trade diversion principle
  4. The most favoured nation principle

Correct answer: (D)
The most favoured nation principle

  1. MNCs are in a good position to vary their strategies in different phases of the product life cycle. For instance in the ______________ phase(s) they will usually ___________
  1. decline, maintain high prices
  2. launch, move production to low-cost countries
  3. growth and maturity, move production to low-cost countries
  4. growth, maintain high prices

Correct answer: (C)
growth and maturity, move production to low-cost countries

 

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GK Quiz on Insurance Regulatory and Development Authority

by Mr. DJ
written by Mr. DJ

GK Quiz on Insurance Regulatory and Development Authority

Dear Students Gk By Mr. Dj  is presenting you a set of 10 MCQs based on Indian Budget Insurance Regulatory and Development Authority (IRDA). We are providing you topic wise questions so that you come to know all kinds of probable questions on a particular topic. Our team has gone through a deep analysis to frame only relevant questions for upcoming exams.

Dear Students Gk By Mr. Dj  is presenting you a set of 10 MCQs based on Indian Budget & Insurance Regulatory and Development Authority (IRDA). We are providing you topic wise questions so that you come to know all kinds of probable questions on a particular topic. Our team has gone through a deep analysis to frame only relevant questions for upcoming exams.

  1. Union budget of India is referred in which of the following article:

(a) Article 109

(b) Article 112

(c) Article  180

(d) 212

  1. The first Union budget of independent India was presented by:

(a) Jawahar Lal Nehru

(b) Vallabh Bhai Patel

(c) R. K. Shanmukham Chetty

(d) Morarji Ranchhodji DesaiIn

  1. What is the current exemption limit of income tax for general citizens?

(a) 2.20 Lac/Annum

(b) 2.50 Lac/Annum

(c) 2.00 Lac/Annum

(d) 3.00 Lac/Annum

  1. The only woman who holds the post of the Finance Minister of India is:

(a) Sarojini Naidu

(b) Indira Gandhi

(c) Sucheta Kriplani

(d) Vijay Laxmi Pandit

  1. Which ex- Prime Minister of India did not present the union budget of India?

(a) Morarji Desai

(b) Rajiv Gandhi

(c) Indira Gandhi

(d) Atal Bihari Vajpayee

6.Which committee recommended the establishment of IRDA?

(a) P.N. Mehrotra Committee

(b) R.N. Malhotra Committee

(c) D.R. Gadgil Committee

(d) Rajmannr Committee

  1. Along with banking services insurance sector contributes about ……..percent of GDP of India:

(a)  13%

(b) 9%

(c) 10%

(d) 7%

8.When was IRDA established?

(a) 1965

(b) 1954

(c) 1999

(d) 2001

9.Taxes Levied and Collected by the Union but Assigned to the States within which they are leviable.

Find out the correct option from below:

  1. Taxes on transactions in stock exchange
  2. Tax of sale and purchase of newspapers including advertisements
  3. Estate duty in respect of property other than agriculture land
  4. Stamp duty and duties of excise on the medical and toilet preparations

(a) Only I & II are correct

(b) I,II & III are correct

(c) All are correct

(d) Only IV & I are correct

10.Who is the current IRDA chief?

(a) J. Harinarayan

(b) Rana Pratap

(c) T.S. Vijayan

(d) K.T.S. Tulsi

Question Answer
1 B
2 C
3 B
4 B
5 D
6 B
7 D
8 C
9 B
10 C

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GK Quiz on Prime Minister of India and Supreme Court

by Mr. DJ
written by Mr. DJ

GK Quiz on Prime Minister of India and Supreme Court

In the parliamentary system of government provided by the constitution, the President is the nominal executive authority and Prime Minister is the real executive authority. Where as the jurisdiction of the Supreme Court is greater than that of its prodecessor. Let us study more about Prime Minister of India and Supreme Court in the form of questions and answers.

GK Quiz on Prime Minister and Supreme Court of India

We can say that the President is the head of the State while Prime Minister is the head of the government. The Constitution does not contain any specific procedure for the selection of and appointment of the Prime Minister. Part V of the Constitution deals with the organization, independence, jurisdiction, powers, procedures, etc. of the Supreme Court. This article presents you 10 Questions based on Prime Minister and Supreme Court of India which may help in the upcoming exams.

Q 1) Which one of the following article deals with the appointment of the Prime Minister and other ministers?

(a) Article 76

(b) Article 74

(c) Article 75

(d) Article 72

Ans. c

Q 2) The Prime Minister is appointed by which one of the following?

(a) Attorney general of India

(b) President

(c) Vice-president

(d) Chief justice of India

Ans. b

Q 3) Who among the following shall communicate to the president all the decisions of the council of ministers under article 78?

(a) Home minister

(b) Prime minister

(c) Attorney general

(d) Finance minister

Ans. b

Q 4) The total number of ministers including the prime ministers shall not exceed-

(a) 20% members of the Lok sabha

(b) 10% members of the Lok sabha

(c) 25% members of the Lok sabha

(d) 15% members of the Lok sabha

Ans. d

Q 5). The Supreme Court of India at present contains the following number of Judges?

(a) 25 judges

(b) 31 judges

(c) 20 judges

(d) 30 judges

Ans. b

Q 6). Who among the following appoints the Chief Justice and other Judges of the Supreme Court?

(a) Prime minister

(b) Vice-president

(c) Home minister

(d) President

Ans. d

Q 7). Which of the following are the powers of the Supreme Court?

(a) Original and Appellate Jurisdiction

(b) Appointment of ad-hoc judges

(c) Judicial review

(d) All the above

Ans. d

Q 8). Which article of the constitution of India provides the composition and jurisdiction of the Supreme Court of India?

(a) Article 137-141

(b) Article 144

(c) Article 126

(d) Article 124

Ans. d

Q 9). The National Judiciary Appointments Commission (NJAC) consists of the following persons?

(a) Chief Justice of India

(b) Two senior most Supreme Court judges

(c) The Union Minister of Law and Justice

(d) All the above

Ans. d

Q 10). Mr. T.S. Thakur is the ……………….Chief Justice of India.

(a) 41st

(b) 42nd

(c) 43rd

(d) 44th

Ans. c

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GK Quiz on Features of Indian Constitution

by Mr. DJ
written by Mr. DJ

GK Quiz on Features of Indian Constitution

It has been observed that in the various competitive examinations, questions based on political science are always asked, keeping in view the need of these contestants, we have prepared a quiz of 10 questions based on the ‘characteristics of Indian Constitution’. These questions are expected to be useful to the competitors.

Quiz on features of Indian Constitution

Constitution is the Fundamental Law of any country which sets out the framework and the principal functions of various organs of the government. At present, the Constitution of India contains 448 Articles in 25 Parts and 12 Schedules. However, there are multiple features of the Constitution, namely Secular State, Federalism, Parliamentary Government, Fundamental Rights and many more.

  1. Which of the following is called ‘Mini Constitution’?

(A) Government of India Act, 1935

(B) 42nd Constitutional Amendment

(C) 44th constitutional amendment

(D) Government of India Act, 1919

Ans. B

  1. 2. Which of the following statements is false?

(A) Most of the structure of the Indian Constitution has been taken from the Government of India Act, 1935.

(B) The original constitution had 10 schedules

(C) The political part of the Indian Constitution is taken from the British Constitution

(D) Article 368 is related to the constitutional amendment

Ans. B

  1. Which of the following is not a feature of Indian parliamentary system?

(A) majority party power

(B) Presence of Actual Executive and Nominal Executive

(C) Appointment of Executive to the Legislature

(D) All of the above

Ans. D

  1. 4. Which of the following is not matched correctly?

(A) Right to Equality: Article 14-18

(B) Rights against exploitation: Article 20-22

(C) Right to Religious Freedom: Article 25-28

(D) Right to Cultural and Education freedom: Article 29-30

Ans. B

  1. Which of the following is not matched correctly?

(A) Part I: Union and its Territories

(B) Part II: Citizenship

(C) Part III: Directive Principle and State Policy

(D) Part VI: State Governments

Ans. C

  1. Which of the following is not matched correctly?

(A) Article 312: The functions of Public Service Commissions

(B) Article 110: Definition of Money Bill

(C) Article 112: Budget

(D) Article 51A: Fundamental Duties

Ans. A

  1. The idea of ​​‘concurrent list’ in the Indian constitution is taken from the Constitution of …………?

(A) Ireland

(B) Canada

(C) Australia

(D) Japan

Ans. C

  1. Seventh Scheduleis concerned with …………?

(A) From languages

(B) Partition of powers between center and states

(C) From the judicial areas of the states

(D) From Panchayati Raj

Ans. B

  1. What is not taken from British Constitution in the Constitution of India?

(A) Parliamentary rule

(B) Single citizenship

(C) Fundamental Rights

(D) Cabinet System

Ans. C

  1. Which of the following articles cannot be null during the National Emergency?

(A) Article 14 to 18

(B) Article 19

(C) Article 20,21

(D) Article 29,30

Ans. C

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