Passage based Questions on General Knowledge and Current affairs SMGKQ028

Passage based Questions on General Knowledge and Current affairs SMGKQ028

1. Which one of the following is not a method of estimating National Income?

A. Expenditure method
B. Product method
C. Matrix method
D. Income method

Correct Option: C

A number of measures of national income, are used in economics to estimate total economic activity in a country or state. There are three main methods for Measuring National Income.
1. Product Method
2. Income Method
3. Expenditure Method
Hence, the option C is correct.

2. National Income is the

A. Net National Product at market price
B. Net National Product at factor cost
C. Net Domestic Product at market price
D. Net domestic Product at factor cost

Correct Option: B

National Income refers to a total value of a country’s final output of all new goods and services produced in one year. In other words National Income is Net domestic Product at factor cost. Hence, the option B is correct.

3. Of the following land uses, which is restricted to Special Economic Zones?

A. Educational Institutions
B. Free trade Centres
C. Marketing Centres
D. Information Technology companies

Correct Option: A

The category Special economic zone includes free trade zones (FTZ), export processing Zones (EPZ), free Zones (FZ), industrial parks or industrial estates (IE), free ports, free economic zones, and urban enterprise zones. The goal of a SEZ structure is to increase foreign direct investment by foreign investors.
Hence, the option A is correct

4. What is the currency of North Korea?

A. Dinar
B. Peso
C. Won
D. Dollar

Correct Option: C

The North Korean Won is the currency of Korea (North).
Hence, the correct answer is option C.

5. Ngultrum is the currency of which of the following countries?

A. Nepal
B. Myanmar
C. Bhutan
D. Bangladesh

Correct Option: C

Bhutanese currency is Ngultrum (Nu.) and is officially pegged to the Indian Rupee (Rs.). Also Indian Rupee is acceptable all over Bhutan, except Rs 500 and Rs 2000 currency notes.
Hence, the correct answer is option C.