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

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The 'Personal Disposable Income' is personal income minus:

A. indirect taxes

B. direct personal taxes and other deductions

C. customs duty

D. corporate tax

Answer: Option B

Solution (By JKSSB Mock Tests)

Personal disposable income is personal income minus direct personal taxes and other receipts of government.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the Cobb-Douglas production function Q = A L^α K^β, if α + β = 1, the production function exhibits:

A. increasing returns to scale

B. constant returns to scale

C. decreasing returns to scale

D. negative returns

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Correct Answer: Option B

Explanation:
If α + β = 1, the Cobb-Douglas production function exhibits constant returns to scale.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'MSME Development Act' was enacted in which year?

A. 2010

B. 2015

C. 2006

D. 2000

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Correct Answer: Option C

Explanation:
The MSME Development Act was enacted in 2006.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Presidency Banks' were merged into the Imperial Bank of India in which year?

A. 1935

B. 1905

C. 1949

D. 1921

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Correct Answer: Option D

Explanation:
The three presidency banks were merged into the Imperial Bank of India in 1921.

This question belongs to: Economy GK Economy Set 1

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