Important General Knowledge Questions 2020
What is the demand for labor called?
(A) Market demand
(B) Direct demand
(C) Derived demand
(D) Factory demand
Correct Answer : C
The Economic development depends on-
(A) Natural resources
(B) Capital formation
(C) Size of the market
(D) All of these
Correct Answer : D
In a cut motion, when the amount of demand is reduced by Rs 100/- , it is known as
(A) Disapproval of policy cut
(B) Economy cut
(C) Vote on Account
(D) Token cut
Correct Answer : D
If Reserve Bank of India reduces the cash reserve ratio, it will :
(A) increase credit creation
(B) decrease credit creation
(C) have no impact on credit creation
(D) have no definite impact on credit creation
Correct Answer : A
When the price of a commodity falls, we can expect:
(A) The supply of it to increase
(B) The demand for it to fall
(C) The demand for it to stay constant
(D) The demand for it to increase
Correct Answer : D
This personality is known as the Father of Economics. Can you identify him from the given options?
(A) J.M. Keynes
(B) Adam Smith
(C) Abraham Maslow
(D) J.K. Galbraith
Correct Answer : B
Value of Total Goods and Services produced in a country is its _____________ .
(A) Gross Domestic Product
(B) Gross Revenue Income
(C) Total Goods Revenue
(D) Total Income
Correct Answer : A
The study of factor pricing is alternatively called the theory of
(A) functional distribution
(B) personal distribution
(C) Income distribution
(D) wealth distribution
Correct Answer : A
Which Indian state has the least literacy rate?
(A) Bihar
(B) Rajasthan
(C) Arunachal Pradesh
(D) Orissa
Correct Answer : A
Which of the following is not an example of direct tax?
(A) Income tax
(B) Property tax
(C) Gift tax
(D) Sales tax
Correct Answer : D
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Rajesh Bhatia
A Writer, Teacher and GK Expert. I am an M.A. & M.Ed. in English Literature and Political Science. I am highly keen and passionate about reading Indian History. Also, I like to mentor students about how to prepare for a competitive examination. Share your concerns with me by comment box. Also, you can ask anything at linkedin.com/in/rajesh-bhatia-7395a015b/.
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