Expenditure on construction of a national highway is classified as: MCQ with Answer and Explanation

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Expenditure on construction of a national highway is classified as:

A. capital expenditure

B. transfer payment

C. revenue expenditure

D. non-plan expenditure

Answer: Option A

Solution (By JKSSB Mock Tests)

Construction of a highway creates a capital asset and is capital expenditure.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Wholesale Price Index' measures:

A. prices of consumer goods only

B. retail prices

C. prices of services

D. prices at the wholesale level

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Correct Answer: Option D

Explanation:
WPI measures price changes at the wholesale level.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'e-way bill' validity is based on:

A. distance to be travelled

B. type of vehicle

C. number of goods

D. value of goods

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Correct Answer: Option A

Explanation:
E-way bill validity depends on the distance of movement.

This question belongs to: Economy GK Economy Set 1

Question #3

The slope of an isoquant is called the:

A. price ratio

B. marginal utility ratio

C. marginal rate of technical substitution

D. marginal rate of substitution

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Correct Answer: Option C

Explanation:
The slope of an isoquant is the marginal rate of technical substitution, the rate at which one input can substitute for another keeping output constant.

This question belongs to: Economy GK Economy Set 1

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