Q:

Which one of the following is not a component of Revenue Receipts of the Union Government?

A) Corporate tax receipts	B) Dividends and profits
C) Disinvestment receipts	D) Interest receipts

Answer & Explanation Answer: C) Disinvestment receipts

Explanation:

Revenue receipts are regular source of Government of India, but Disinvestment receipts are not regular source of Income of Government and all other given are regular

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Q:

Match the characteristics with their market structure:
(a) Firm has control over quantity of output but it must take into account reactions of competitors.
b) Firm will tend to set output so that it earns maximum profits.

A) (a) Oligopoly, (b) Pure competition	B) (a) Monopolistic competition, (b) Oligopoly
C) (a) Pure Monopoly, (b) Pure competition	D) (a) Oligopoly, (b) Pure Monopoly

Answer & Explanation Answer: D) (a) Oligopoly, (b) Pure Monopoly

Explanation:

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Q:

Economics assumes that

A) people have unlimited desires but limited resources	B) people have limited desires but unlimited resources
C) allocation of resources if not centrally planned will cause inefficiency	D) people are emotional and make irrational decisions

Answer & Explanation Answer: A) people have unlimited desires but limited resources

Explanation:

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Q:

Who is the only Indian economist to have won the Nobel prize?

A) Avinash Dixit	B) Amit Mishra
C) Amartya Sen	D) Abhijit Banerjee

Answer & Explanation Answer: C) Amartya Sen

Explanation:

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Q:

In economic equilibrium _____

A) supply is equal to the demand.	B) the surplus is larger than the shortage.
C) elasticity of demand equals elasticity of supply	D) price elasticity of demand is unity

Answer & Explanation Answer: A) supply is equal to the demand.

Explanation:

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Q:

In 2016, the State Bank of India launched a new product called 'SBI Exclusif'. What is the financial nature of this product?

A) Insurance	B) Mutual Fund Offering
C) Wealth Management	D) Recurring Deposit Scheme

Answer & Explanation Answer: C) Wealth Management

Explanation:

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Q:

Cricket World Cup 2019 is hosted by

A) England	B) South Africa
C) Wales	D) England and Wales

Answer & Explanation Answer: D) England and Wales

Explanation:

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Q:

From the given alternative words, select the word which cannot be formed using the letters of the given word.

ENCYCLOPEDIA

A) OPEN	B) PLEASE
C) CANOPY	D) PLEAD

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