GK INFOPEDIA

[1] Funds which flow into a country to take advantage of favorable rates of interest in that country is called – A. Cold Money B. Black Money C. Hot Money D. White Money Ans: Hot Money Explanation : Hot money is a term that is most commonly used in financial markets to refer to the […]

[1] The market equilibrium for a commodity is determined by : A. The market supply of the commodity. B. The balancing of the forces of demand and supply for the commodity C. The intervention of the Government. D. The market demand of the commodity. Ans: The balancing of the forces of demand and supply for […]

[1] Which tems is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? A. GDP B. GPN C. OMP D. GNP Ans: GNP Explanation : Gross National Product (GNP) is defined as “the market value of all goods […]

[1] Which of the following curve describes the variation of household expenditure on a particular good with respect to household income? A. Demand curve B. Engel curve C. Great Cats by curve D. Cost curve Ans: Engel curve Explanation : In microeconomics, an Engel curve describes how household expenditure on a particular good or service […]

[1] Gresham’s law is related to – A. Consumption and demand B. Supply and demand C. Circulation of money D. Deficit financing Ans: Circulation of money Explanation : Gresham’s law is an observation in economics that “bad money drives out good.” More exactly, if coins containing metal of different value have the same value as […]

[1] Inflation occurs when aggregate supply is – A. more than aggregate demand B. less than aggregate demand C. equal to aggregate demand D. None of these Ans: less than aggregate demand Explanation : If the supply is less than the demand, the price will increase. Inflation, the persistent increase in the average price level, […]

[1] ‘Golden Handshake Scheme’ is associated with – A. inviting foreign companies B. private investment in public enterprises C. establishing joint enterprises D. voluntary retirement Ans: voluntary retirement Explanation : The voluntary retirement scheme (VRS) is the most humane technique to provide overall reduction in the existing strength of the employees. It is a technique […]

[1] Transfer payments mean – A. Old age pensions B. Unemployment compensations C. Social security payments D. All the above Ans: All the above Explanation : Transfer payment refers to a payment made by a public authority other than one made in exchange for goods or service produced. Transfer payments are not part of the […]

[1] Regulated markets aim at the development of the marketing structure to – A. widen the price spread between the producer and the consumer B. narrow down the price spread between the producer and the consumer C. increase the non-functional margins of the traders D. maximize the non-functional margins of the commission agents Ans: narrow […]