The 'Disposable Personal Income' is personal income minus: MCQ with Answer and Explanation

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The 'Disposable Personal Income' is personal income minus:

A. customs duty

B. indirect taxes

C. corporate tax

D. direct personal taxes and other deductions

Answer: Option D

Solution (By JKSSB Mock Tests)

Disposable personal income is personal income after direct personal taxes and other deductions.

This question belongs to: Economy GK Economy Set 1

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Question #1

The term 'Non-Performing Asset' (NPA) in banking refers to:

A. Government securities held by banks

B. Cash reserves of the bank

C. An asset that generates income regularly

D. A loan on which interest or principal is overdue for a specified period

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Correct Answer: Option D

Explanation:
An NPA is a loan or advance where interest or principal remains overdue for a period of more than 90 days (as per RBI norms for term loans).

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of fiscal policy, 'Automatic Stabilisers' operate through:

A. Built-in features of the tax and transfer system that dampen fluctuations without discretionary action

B. Only exchange-rate adjustments

C. Only discretionary changes in spending

D. Only changes in the monetary base

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Correct Answer: Option A

Explanation:
Automatic stabilisers are elements of the fiscal system—progressive taxes and unemployment benefits—that automatically reduce the amplitude of business-cycle fluctuations without the need for new legislation.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'government route' for FDI requires:

A. only SEBI approval

B. no approval

C. prior approval from the government

D. only RBI approval

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Correct Answer: Option C

Explanation:
Government route requires prior approval from the concerned government ministry.

This question belongs to: Economy GK Economy Set 1

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