GK in English

General Knowledge HARYANA HPSC & HSSC GK

General Knowledge GK – HARYANA HPSC & HSSC – Important For Clerk, DEO, Patwari, Gram Sachiv, Panchayat Secretary, Group D, forest guard etc

Lesson – General Economy

Q1. Founded in the year 1886 by a pharmacist named John Pemberton, this product is the second most widely understood term in the world after “OK”.

What is its name?
(a) Aspirin
(b) ENO
(c) CocaCola
(d) Pepsi

Ans: (c)

Q2. ‘Quota’ is

(a) tax levied on imports
(b) imports of capital goods
(c) limit on the quantity of imports
(d) limit on the quantity of exports

Ans: (c)

Q3. Which of the following groups suffer the most from inflation?

(a) Debtros
(b) Creditors
(c) Business class
(d) Holders of real assets

Ans: (b)

Q4. Gross National Product – Depreciation Allowance = ?

(a) Per Capita Income
(b) Gross Domestic Product
(c) Personal Income
(d) Net National Product

Ans: (d)

Q5. The economist who believed that unemployment is impossible and that market mechanism has a built in regulatory system to meet any ups and downs

(a) J.M.Keynes
(b)Ohlin
(c) J.B.Say
(d) Galbraith

Ans: (c)

Q6. Evaluating all the options to find out most suitable solution to business problems is inter-displinary activities. It is called

(a) Professional research
(b) Management research
(c) Operational research
(d) Commercial research

Ans: (c)

Q7. Regarding money supply situation in India it can be said that the :

(a) Currency with the public is inconvertible only.
(b) Currency with the public is less than the deposits with the banks.
(c) Currency with the public is more than the deposits with the banks.
(d) Currency with the public is almost equal to the deposits with banks.

Ans: (b)

Q8. Which of the following results by dividing national income by size of population ?

(a) Per capita income
(b) Subsistence level
(c) Subsistence expenditure
(d) Per capita production

Ans: (a)

Q9. Plant and machinery are

(a) Producers’ goods
(b) Consumers’ goods
(c) Distributors’ goods
(d) Free goods

Ans: (a)

Q10. “Interest is a reward for parting with liquidity” is according to

(a) Keynes
(b) Marshall
(c) Haberler
(d) Ohlin

Ans: (a)

Q11. An individual’s actual standard of living can be assessed by

(a) Gross National Income
(b) Net National Income
(c) Per Capita Income
(d) Disposable Personal Income

Ans: (c)

Q12. The equilibrium of a firm under perfect competition will be determined when

(a) Marginal Revenue > Average Cost
(b) Marginal Revenue > Average Revenue
(c) Marginal Revenue = Marginal Cost
(d) Marginal Cost > Average Cost

Ans: (c)

Q13. The demand curve shows that price and quantity demanded are

(a) directly related only
(b) directly proportional and also directly related
(c) inversely proportional and aslo inversely related
(d) inversely related only

Ans: (c)

Q14. Structural unemployment arises due to :

(a) deflationary conditions
(b) heavy industry bias
(c) shortage of raw materials
(d) inadequate productive capacity

Ans: (d)

Q15. Bank Rate refers to the interest rate at which

(a) Commercial banks receive deposits from the public
(b) Central bank gives loans to Commercial banks
(c) Government loans are floated
(d) Commercial banks grant loans to their customers

Ans: (b)

Q16. Same price prevails throughout the market under

(a) perfect competition
(b) monopoly
(c) monopolistic competition
(d) oligopoly

Ans: (a)

Q17. The bank cheques are processed by using

(a) OCR
(b) MICR
(c) OMR
(d) PMR

Ans: (b)

Q18. Commercial banks create credit

(a) on the basis of their securities
(b) on the basis of their assets
(c) on the basis of their reserve fund
(d) on the basis of their deposits

Ans: (d)

Q19. A short-term government security paper is called

(a) Share
(b) Debenture
(c) Mutual fund
(d) Treasury bill

Ans: (d)

Q20. If total product is at its maximum then:

(AP= Average product)
(MP= Marginal product)
(a) AP = 0
(b) AP < 0
(c) MP = 0
(d) AP = MP = 0

Ans: (c)
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