General Knowledge Questions

Q:

"Foreign jurisdiction" is listed in the __________ list given in the Seventh Schedule in the Constitution of India.

A) Union B) State
C) Global D) Concurrent
 
Answer & Explanation Answer: A) Union

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Q:

In the following question, four words are given out of which one word is incorrectly spelt. Find the incorrectly spelt word.

A) Anasthetic B) Obliterate
C) Concurrence D) Blithesome
 
Answer & Explanation Answer: A) Anasthetic

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Q:

With which country India has signed an agreement to renew the supply of Petroleum for a period of 5 years (i.e. till 2022)?

A) Nepal B) U.A.E.
C) Iran D) Bhutan
 
Answer & Explanation Answer: A) Nepal

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Q:

In the following question, out of the four alternatives, choose the word which is opposite in meaning to the given word and click the button corresponding to it.
OBSTINATE

A) DOCILE B) AGGRAVATE
C) OFFENSIVE D) OPPRESSIVE
 
Answer & Explanation Answer: A) DOCILE

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Q:

Who gave the 'General Equilibrium Theory'?

A) J. M. Keynes B) Leon Walras
C) David Ricardo D) Adam Smith
 
Answer & Explanation Answer: B) Leon Walras

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Q:

Which one of the following hypotheses postulates that individual's consumption in any time period depends upon resources available to the individual, rate of return on his capital and age of the individual?

A) Absolute Income Hypothesis B) Relative Income Hypothesis
C) Life Cycle Hypothesis D) Permanent Income Hypothesis
 
Answer & Explanation Answer: C) Life Cycle Hypothesis

Explanation:

The life-cycle theory of consumption, popularly known as life-cycle hypothesis,' was developed by Ando and Modigliani" in the early 1960s.

The life-cycle hypothesis postulates that individual consumption in any time period depends on

(i) resources available to the individual,

(ii) the rate of return on his capital, and

(iii) the age of the individual.

The resources available to an individual consist of his existing net wealth and the present value of all his current and future labour incomes. According to the life-cycle hypothesis, a rational consumer plans consumption on the basis of all his resources and allocates his income to consumption over time so that he maximizes his total utility over his life time.

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Q:

Which of the following constitutional Amendment Act, deals with the Elementary Education as a Fundamental Right?

A) 84th Amendment Act B) 85th Amendment Act
C) 86th Amendment Act D) 87th Amendment Act
 
Answer & Explanation Answer: C) 86th Amendment Act

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Q:

Choose the most appropriate answer:What is the name of ‘Innovative Council’ proposed in the Rail Budget 2015 to promote innovation?

A) Rail Tech B) Sankalp
C) Kayakalp D) Navachar
 
Answer & Explanation Answer: C) Kayakalp

Explanation:

The plan to set up an innovation council called ”Kayakalp” for business re-engineering and introducing a spirit of innovation in the Indian Railways.

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