Which of the following is NOT a component of Current Account in the Balance of Payments? MCQ with Answer and Explanation

Question
Which of the following is NOT a component of Current Account in the Balance of Payments?
A. Foreign direct investment
B. Trade in goods
C. Unilateral transfers
D. Trade in services
Answer: Option A
Solution (By JKSSB Mock Tests)
Foreign direct investment is a component of the Capital Account. Current Account includes merchandise trade, invisibles (services), and unilateral transfers.
This question belongs to: Economy GK Economy Set 1
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Question #1
The 'NITI Aayog' was established through a resolution of:
A. Supreme Court
B. Parliament
C. President
D. Union Cabinet
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Correct Answer: Option D

Explanation:
NITI Aayog was established by a Union Cabinet resolution on 1 January 2015.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'National Income' estimates in India are published with a base year of:
A. 2020-21
B. 2004-05
C. 2016-17
D. 2011-12
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Correct Answer: Option D

Explanation:
The national accounts series uses 2011-12 as the base year.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'Annual Financial Statement' shows:
A. only tax revenues
B. estimated receipts and expenditure of the government for a financial year
C. only foreign debt
D. only plan expenditure
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Correct Answer: Option B

Explanation:
Annual Financial Statement shows estimated receipts and expenditure.
This question belongs to: Economy GK Economy Set 1
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