Which of the following is NOT a component of the capital account of Balance of Payments? MCQ with Answer and Explanation

Question
Which of the following is NOT a component of the capital account of Balance of Payments?
A. Foreign direct investment
B. External commercial borrowings
C. Portfolio investment
D. Remittances from abroad
Answer: Option D
Solution (By JKSSB Mock Tests)
Remittances from abroad are unilateral transfers and form part of the current account. Capital account includes FDI, portfolio investment and external borrowings.
This question belongs to: Economy GK Economy Set 1
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Question #1
The Engel curve shows the relationship between:
A. price and income
B. utility and expenditure
C. price and quantity demanded
D. income and quantity demanded
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Correct Answer: Option D

Explanation:
The Engel curve depicts the relationship between a consumer's income and the quantity demanded of a good.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'Multidimensional Poverty Index' was developed by:
A. UNESCO
B. UNDP and Oxford Poverty and Human Development Initiative
C. IMF
D. World Bank
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Correct Answer: Option B

Explanation:
MPI was developed by UNDP and the Oxford Poverty and Human Development Initiative.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'Goods and Services Tax' compensation cess is collected by:
A. GST council
B. state governments
C. central government
D. local bodies
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Correct Answer: Option C

Explanation:
Compensation cess is collected by the central government.
This question belongs to: Economy GK Economy Set 1
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