Which of the following is not a component of the current account of the balance of payments? MCQ with Answer and Explanation

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Which of the following is not a component of the current account of the balance of payments?

A. Remittances from abroad

B. Foreign direct investment

C. Imports of services

D. Exports of goods

Answer: Option B

Solution (By JKSSB Mock Tests)

Foreign direct investment is a capital account component, not current account.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

A contractionary fiscal policy consists of:

A. lowering interest rates

B. reducing government spending or increasing taxes

C. increasing money supply

D. increasing government spending and cutting taxes

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Correct Answer: Option B

Explanation:
Contractionary fiscal policy reduces aggregate demand by cutting spending or raising taxes.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Index of Eight Core Industries' is released by:

A. NITI Aayog

B. Ministry of Commerce and Industry

C. Ministry of Finance

D. RBI

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Correct Answer: Option B

Explanation:
The Index of Eight Core Industries is released by the Ministry of Commerce and Industry.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on franchise services is:

A. 28%

B. 18%

C. 12%

D. 5%

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Correct Answer: Option B

Explanation:
Franchise services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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