Economics GK Practice Question and Answer
8 Q: Which of the following is not a function of currency?
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6088f5d5bdba7253ca28762e- 1Measurement of valuefalse
- 2accumulation of valuefalse
- 3transfer of valuefalse
- 4stabilization of pricetrue
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Answer : 4. "stabilization of price"
Q: Round Revolution in India was related to -
596 0637f3e2d49a42a5ac162936c
637f3e2d49a42a5ac162936c- 1Potatotrue
- 2Onionfalse
- 3Oil seedsfalse
- 4Tomatofalse
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Answer : 1. "Potato "
Q: What is considered to be knowledge, technical skill, education etc. in the economy?
589 060d3141f64466567bd75545c
60d3141f64466567bd75545c- 1Tangible physical capitalfalse
- 2Working Capitalfalse
- 3Human Capitaltrue
- 4none of thesefalse
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Answer : 3. "Human Capital"
Q: Average Revenue means
588 0638f0e92d319b37ca1812928
638f0e92d319b37ca1812928- 1the revenue per unit of commodity soldtrue
- 2the revenue from all commodities soldfalse
- 3the profit realised from the marginal unit soldfalse
- 4the profit realised by sale of all commoditiesfalse
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Answer : 1. "the revenue per unit of commodity sold"
Q: What is the relationship between the value of money and the price level in an economy?
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60d313871cefce3a61b25c73- 1stablefalse
- 2inversetrue
- 3Anulomfalse
- 4none of thesefalse
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Answer : 2. "inverse"
Q: To which of the following sectors of the economy do Basel III norms belong?
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64c23891d3a6d4481eec4b7f- 1Bankingtrue
- 2Capital marketfalse
- 3Automobilefalse
- 4Aviationfalse
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Answer : 1. "Banking"
Explanation :
1. The Basel norms are international banking rules to strengthen the international banking system.
2. It is in the form of an agreement by the Basel Committee on Banking Supervision which mainly focuses on the risks to banks and the financial system.
Q: In India, according to the Insolvency and Bankruptcy Code, 2016, the process of insolvency resolution for companies should be completed in how many days?
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64a6845fdc607a4d2b2c74b7- 1180true
- 2150false
- 3170false
- 4120false
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Answer : 1. "180"
Explanation :
1. According to the Insolvency and Disability Code, 2016 in India, the insolvency resolution process of companies must be completed in 180 days.
2. The IBC 2016 also attempted to deal with the difficulties in the existing law as well as other disagreements that may develop between debtors and creditors due to inadequacies in the information system.
Q: Which of the following is NOT a public sector insurance company?
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64c24509bd3d25480680f920- 1United India Insurance Company Limitedfalse
- 2The New India Assurance Company Limitedfalse
- 3SBI Life Insurancetrue
- 4General Insurance Corporation of Indiafalse
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Answer : 3. "SBI Life Insurance"
Explanation :
There are public sector insurance companies.
1. United India Insurance Company Limited
2. The New India Assurance Company Limited
3. General Insurance Corporation of India