41. The principle of maximum social benefit is the basic principle of which of the following?
[A] Micro Economics
[B] Macro Economics
[C] Fiscal Economics
[D] Environmental Economics
Answer: C [Fiscal Economics]
Notes:
The principle of ‘maximum social benefit’ is a fundamental principle of public finance which was introduced by British economist Hugh Dalton. It should aim at all financial actions of the state to maximize net social benefit. It takes into account both aspects of public finance which is government revenue or taxation as well as government expenditure. It studies the problems related to government taxation and spending, it comes under the domain of fiscal economics.
42. What is the main emphasis of Keynesian economics?
[A] Expenditure
[B] Exchange
[C] Foreign trade
[D] Taxation
Answer: A [Expenditure]
Notes:
Keynesian economics is an economic theory of total spending and output in an economy and its effects on inflation. It is the increase in GDP from government expenditure which is a multiple of the basic expenditure.
43. What is the name given to the graph that shows all those combinations of two goods that a consumer can afford economically at a given market price and within a particular income level?
[A] Demand Curve
[B] Isocost Line
[C] Supply Curve
[D] Budget Line
Answer: D [Budget Line]
Notes:
The budget line, also called the budget constraint, shows all combinations of two goods that a consumer can afford at market prices and within a particular income level. The knowledge of the concept of budget line is essential to understand the principle of consumer’s equilibrium.
44. What does SIDBI mean?
[A] Small Industrial Designed Bank of India
[B] Small Industries Development Bank of India
[C] Small Innovations Development Banker’s Institute
[D] Small Industries Development Banker Institute
Answer: B [Small Industries Development Bank of India]
Notes:
Rashtriya Ispat Nigam Limited (RINL) filed a draft prospectus with market regulator SEBI on 23 September 2014 for an initial public offering (IPO) through which the government would sell its 10 per cent stake in the company. The government proposes to raise Rs 43,425 crore through disinvestment in PSUs.
45. To whom is corporate loan given?
[A] Limited Companies
[B] Limited Individuals
[C] Proprietary concerns
[D] Limited Educational Institutions
Answer: A [Limited Companies]
Notes:
Corporate debt refers to a loan that is given to a company and not to a government organization or a particular individual. These loans come in the form of working capital finance facilities and term loans and are available to corporate bodies engaged in any legal activity with the aim of earning profit. Such entities include sole proprietorship firm, partnership firm, private limited company or public limited company.
46. When was the Minimum Wages Act enacted in India?
[A] 1936
[B] 1948
[C] 1951
[D] 1955
Answer: B [1948]
Notes:
The Minimum Wages Act, 1948 was enacted to protect the interests of workers mostly in the unorganized sector, by providing for the fixation of minimum wages in certain specified employments. It obliges the employers to pay their employees the minimum wages prescribed from time to time under the Act.
47. According to the Economic Survey Report 2017-18, what was the industrial growth rate estimated for FY18?
[A] 5.40%
[B] 5.90%
[C] 4.40%
[D] 4.90%
Answer: C [4.40%]
Notes:
According to the Economic Survey 2017-18, agriculture and industry sectors were expected to grow at 2.1% and 4.4% respectively, while the service sector was estimated to grow at 8.3%. The overall industrial sector growth was 5.8% in the second quarter of 2017-18 as compared to 1.6% in the first quarter.
48. A company that has been established after 2003 and has a current valuation of over USD 1 billion is referred to in the industry in which period?
[A] Unicorn Startup Company
[B] Blue Moon Startup Company
[C] Stratosphere Startup Company
[D] 5th Gear Startup Company
Answer: A [Unicorn Startup Company]
Notes:
A Unicorn is a startup company founded after 2003 with a current valuation of over $1 billion. However, the number of unicorns has increased manifold. As of January 2019, there are over 300 unicorns around the world. Variants include a Decacorn, which is valued at over $10 billion, and a Hectocorn, which is valued at over $100 billion.
49. What is the duration of the 12th Five Year Plan?
[A] 1 January 2012 to 31 December 2017
[B] 1 April 2011 to 31 March 2016
[C] 1 January 2011 to 31 December 2016
[D] 1 April 2012 to 31 March 2017
Answer: D [1 April 2012 to 31 March 2017]
Notes:
The duration of the 12th Five Year Plan was 1 April 2012 to 31 March 2017. The Eleventh Five Year Plan covered the period from 1 April 2007 to 31 March 2012.
50. Which is not an Indian multinational company?
[A] Mahindra Group
[B] Unilever
[C] Infosys
[D] Aditya Birla Group
Answer: B [Unilever]
Notes:
Unilever is a British-Dutch transnational consumer goods company co-headquartered in London, United Kingdom, and Rotterdam, Netherlands. Its products include food and beverages (about 40 percent of its revenue), cleaning agents, beauty products, and personal care products. It is Europe’s seventh most valuable company.