Net factor income from abroad is equal to: MCQ with Answer and Explanation

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Net factor income from abroad is equal to:

A. factor income received from abroad plus factor income paid to abroad

B. exports minus imports

C. factor income received from abroad minus factor income paid to abroad

D. remittances received by India

Answer: Option C

Solution (By JKSSB Mock Tests)

Net factor income from abroad is the difference between factor income received from abroad and factor income paid abroad.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Income Tax Act' in India was enacted in which year?

A. 1972

B. 1965

C. 1956

D. 1961

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Correct Answer: Option D

Explanation:
The Income Tax Act was enacted in 1961.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following types of unemployment is most prevalent in Indian agriculture?

A. Frictional unemployment

B. Structural unemployment

C. Disguised unemployment

D. Cyclical unemployment

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Correct Answer: Option C

Explanation:
Disguised unemployment is most prevalent in Indian agriculture.

This question belongs to: Economy GK Economy Set 1

Question #3

Non-Banking Financial Companies are regulated by:

A. IRDA

B. Ministry of Finance

C. SEBI

D. Reserve Bank of India

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Correct Answer: Option D

Explanation:
NBFCs are regulated by the Reserve Bank of India.

This question belongs to: Economy GK Economy Set 1

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