The 'net factor income from abroad' is negative when factor incomes paid abroad are: MCQ with Answer and Explanation

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The 'net factor income from abroad' is negative when factor incomes paid abroad are:

A. zero

B. equal to factor incomes received

C. greater than factor incomes received from abroad

D. less than factor incomes received from abroad

Answer: Option C

Solution (By JKSSB Mock Tests)

Net factor income from abroad is negative when payments abroad exceed receipts from abroad.

This question belongs to: Economy GK Economy Set 1

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Question #1

The Phillips Curve shows the relationship between:

A. Unemployment and inflation

B. Interest rate and investment

C. Inflation and economic growth

D. Money supply and price level

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Correct Answer: Option A

Explanation:
The Phillips Curve illustrates an inverse relationship between the rate of unemployment and the rate of inflation in an economy in the short run.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Tax Deduction and Collection Account Number' is used for:

A. opening a bank account

B. depositing TDS and TCS

C. getting PAN

D. filing income tax returns only

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Correct Answer: Option B

Explanation:
TAN is used for depositing tax deducted or collected at source.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Pradhan Mantri Krishi Sinchai Yojana' aims at:

A. promoting exports

B. improving irrigation and water-use efficiency

C. providing tractors

D. crop insurance

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Correct Answer: Option B

Explanation:
PMKSY aims to improve irrigation coverage and water-use efficiency.

This question belongs to: Economy GK Economy Set 1

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