Know all about nation’s income

Hyderabad: Candidates should understand how to determine and estimante the income of the country in a budget year These practice questions focusing on general studies will aid aspirants better prepare for the State government recruitment examinations. 1. Consider the following statements: 1) The State Human Rights Commission is a multi-member body. 2) The State Human […]

Hyderabad: Candidates should understand how to determine and estimante the income of the country in a budget year

These practice questions focusing on general studies will aid aspirants better prepare for the State government recruitment examinations.

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1. Consider the following statements:

1) The State Human Rights Commission is a multi-member body.

2) The State Human Rights Commission consists of a chairperson and three members.

Which of the statements given above is/are correct?

a) 1 only b) 2 only c) both 1 and 2 d) neither 1 or 2

Ans: a

2. How can a State Information Commissioner be removed from office?

a) By the order of the State Chief Information Commissioner.

b) By the order of Supreme Court of India.

c) By the order of the Governor after the Supreme Court, on a reference made to it by the Governor, has on inquiry reported that the State Information Commissioner ought to be removed.

d) In a manner similar to the removal of a judge of High Court.

Ans: c

3. Match list I with list II and select the correct answer using the codes given below:

List – I (States) List –II (Official languages)

A. Meghalaya 1. Hindi

B. Jammu & Kashmir 2. Konkani

C. Jharkhand 3. English

D. Goa 4. Kashmiri

5 Urdu

Codes:

A B C D

a) 1 4 2 3

b) 3 5 1 2

c) 3 4 1 2

d) 1 5 2 3

Ans: b

4. Which of the following is the basis for determining the national income?

a) Total revenue of the State

b) Net profit earned and expenditure incurred by the State

c) Production of goods and services

d) All of the above

Ans: c

5. Which of the following is not a method of estimating national income?

a) Income method

b) Value-added method

c) Expenditure method

d) Export-import method

Ans: d

6. The national income of India is estimated mainly through:

a) Production method alone

b) Expenditure method alone

c) Production and expenditure methods

d) Production and income methods

Ans: d

7. Which of the following are referred to as the developed economies?

a) Countries earning huge industrial profits

b) Countries proficient in trade and export

c) Countries having large per capita income

d) Countries advanced in technology

Ans: c

8. An ad valorem duty is a tax on the basis of:

a) The price of a commodity

b) The value added

c) The advertisement expenditure

d) The unit of the commodity

Ans: a

9. Consider the following statements with regard to Statutory Liquidity Ratio (SLR):

1. To meet SLR, commercial banks can use cash only.

2. The SLR is maintained by the banks with themselves.

3. The SLR restricts the banks’ leverage in pumping more money into the economy.

Which of the statements given above is/are correct?

a) 1, 2 and 3 b) 1 and 3 c) 2 and 3 d) 2 only

Ans: c

10. Which of the following is not true about ‘vote-on-account’?

a) It is a budget presented in the Parliament to cover the deficit left by the last budget

b) It does not allow the government to set for the economic policies of the new plan which starts from April 1

c) It prevents the government from imposing fresh taxes or withdrawing old one

d) This allows the government to withdraw an amount for a period with the consent of Parliament

Ans: a

For more questions, visit the TS BC Study Circles Telegram group https://t.me/ Ukk7l_n7wJxmMjll.

To be continued…

By K Aloke Kumar

Director,

Telangana State BC Study Circles