The 'National Investment Fund' was created with the proceeds of: MCQ with Answer and Explanation

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The 'National Investment Fund' was created with the proceeds of:

A. disinvestment of central public sector enterprises

B. foreign aid

C. taxes

D. borrowings

Answer: Option A

Solution (By JKSSB Mock Tests)

National Investment Fund was created with disinvestment proceeds.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is not included in the calculation of Gross Domestic Product at market prices?

A. Old age pension paid by government

B. Gross fixed capital formation

C. Final consumption expenditure of households

D. Government final consumption expenditure

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Correct Answer: Option A

Explanation:
Old age pension is a transfer payment and is not a payment for current production, hence it is excluded from GDP.

This question belongs to: Economy GK Economy Set 1

Question #2

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The concept of 'Break-even Point' in economics refers to:

A. The level of output where average cost is maximum

B. The level of output where profit is maximum

C. The level of output where total revenue equals total cost

D. The level of output where marginal cost is minimum

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Correct Answer: Option C

Explanation:
The break-even point is the level of output at which total revenue equals total cost, so that economic profit is zero.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'reverse charge mechanism' under GST is applicable when:

A. the recipient is required to pay tax instead of the supplier

B. goods are exported

C. a registered supplier sells to an unregistered recipient

D. goods are imported only

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Correct Answer: Option A

Explanation:
Under reverse charge, the recipient pays GST instead of the supplier.

This question belongs to: Economy GK Economy Set 1

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