All about the nation’s income

Posted: Posted Date – 11:02 PM, Sat – Aug 6, 22

Hyderabad: Applicants should understand how to determine and estimate the country’s income in a fiscal year

These practice questions focusing on general studies will help aspirants better prepare for the state government recruitment exams.

1. Consider the following statements:

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

(2) The National Human Rights Commission consists of a chairman and three members.

Which of the above statements is/are correct?

a) 1 only b) 2 only c) both 1 and 2 d) neither 1 nor 2

Answer: one

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

a) By order of the Chief State Information Commissioner.

(b) By order of the Supreme Court of India.

(c) By order of the Governor after the Supreme Court, upon referral by the Governor, after investigation, ruled that the State Information Commissioner should be removed.

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

Answer: c

3. Match List I to List II and select the correct answer using the codes below:

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

A. Meghalaya 1. Hindi

B. Jammu and Kashmir 2. Konkani

C. Jharkhand 3. English

D. Goa 4. Kashmir

5 urdu

Codes:

ABCD

a) 1 4 2 3

b) 3 5 1 2

c) 3 4 1 2

d) 1 5 2 3

Answer: b

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

a) Total State revenue

b) Net profit realized and expenses incurred by the State

c) Production of goods and services

All the foregoing

Answer: c

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

a) Income method

b) Value added method

c) Mode of expenditure

d) Export-import method

Answer: d

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

a) Method of production alone

b) Expenditure method alone

c) Methods of production and expenditure

d) Methods of production and income

Answer: d

7. Which of the following countries are developed economies?

a) Countries making huge industrial profits

b) Countries proficient in trade and export

c) Countries with high per capita income

d) Technologically advanced countries

Answer: c

8. An ad valorem duty is a tax based on:

a) The price of a commodity

b) Added value

c) Advertising expenses

d) The unit of the goods

Answer: one

9. Consider the following statements regarding the statutory liquidity ratio (SLR):

1. To comply with the SLR, commercial banks can only use cash.

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

3. The SLR limits banks’ leverage to inject more money into the economy.

Which of the above statements is/are correct?

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

Answer: c

10. Which of the following statements is not true about “account voting”?

a) It is a budget presented to 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 new taxes or removing old ones

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

Answer: one

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 Study Circles in British Columbia