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Q:

Which is the first payment bank in India?

A) Fino Payments Bank B) Airtel Payments Bank
C) Aditya Birla Payments Bank D) Paytm Payments Bank

Answer:   B) Airtel Payments Bank



Explanation:

Airtel Payments Bank is the first payment bank in India. A payments bank is a new category of banks conceptualized by the Reserve Bank of India, which operates at a smaller scale than an actual bank and doesn't involve any credit risk. It can carry out most banking operations but can't advance loans or issue credit cards.

 


The RBI as of date has given licences to 11 payments bank of which six are currently operational. These include

  1. Aditya Birla Payments Bank,
  2. Airtel Payments Bank,
  3. India Post Payments Bank,
  4. Fino Payments Bank,
  5. Jio Payments Bank (and)
  6. Paytm Payments Bank.
Subject: Indian Economy
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Q:

The long run aggregate supply curve is vertical because

A) there is no cyclical inflation B) potential GDP is low
C) at full employment prices are stable D) all of the above
 
Answer & Explanation Answer: C) at full employment prices are stable

Explanation:

The long-run aggregate supply curve is vertical because it is at the full-employment or potential output. Because the economy's potential output is determined by the availability and productivity of real resources, not by the price level. That means that even if demand increases, firms can't hire new workers and expand because everyone is already working.

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0 1
Q:

A business owned by one person

A) Sole proprietorship B) Non profit
C) Limited liability D) None of the above
 
Answer & Explanation Answer: A) Sole proprietorship

Explanation:

A business owned by one person and operates for their benefits is called as Sole Proprietorship or sole trader.

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1 184
Q:

Most electric, gas, and water companies are examples of

A) restricted-input monopolies B) sunk-cost monopolies
C) natural monopolies D) unregulated monopolies
 
Answer & Explanation Answer: C) natural monopolies

Explanation:

Most electric, gas, and water companies are examples of natural monopolies. Utilities like water, electricity and gas are essential services that play a vital role in economic and social development.

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1 73
Q:

Sales commissions are classified as

A) period costs B) indirect labor
C) overhead costs D) product costs
 
Answer & Explanation Answer: D) product costs

Explanation:
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2 124
Q:

Money spent on government programs is referred to as

A) Revenue B) Obligation
C) Expenditure D) Bonding
 
Answer & Explanation Answer: C) Expenditure

Explanation:

Money spent by the government on government programs such as road work, electricity work, manhole, etc... that are aiming to contribute to the nation's social welfare in long and short term are referred to as Goverment Expenditures.

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1 112
Q:

A favorable cost variance occurs when

A) actual incurred cost is less than the standard cost B) actual incurred cost is greater than the standard cost
C) actual incurred cost is equal to the standard cost D) None of the above
 
Answer & Explanation Answer: A) actual incurred cost is less than the standard cost

Explanation:

Cost variance is nothing but the difference between the actual incurred cost and the estimated standard cost. This can be occured due to any changes in the volume of goods or services ordered. 

A favorable cost variance occurs when the actual incurred cost is less than the standard cost estimated before the production.

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1 151
Q:

Capitalism is an economic system in which

A) private entities own capital goods B) Public entities own capital goods
C) Both A & B D) None of the above
 
Answer & Explanation Answer: A) private entities own capital goods

Explanation:

Capitalism is an economic system in which private entities or businesses own capital goods.

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Q:

Administered prices refer to

Answer

Administered prices are prices set by government or firms which are not determined by regular market forces. They do not vary in response to short-run fluctuations in demand and supply conditions.


Examples include price controls and rent controls.

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