Q:

Globalization of the economy has

A) decreased regional specialization of production	B) decreased investment in less developed countries
C) heightened economic differences among places	D) leveled economic differences between places

Answer & Explanation Answer: C) heightened economic differences among places

Explanation:

Economic globalization is the increasing economic integration and interdependence of national, regional and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital.

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Filed Under: Indian Economy
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Q:

Which of the following increases labor productivity?

A) an increase in the aggregate hours of work	B) decreases in the availability of computers and factory buildings
C) inventories of new machinery, equipment, or software	D) a decline in the health of the population

Answer & Explanation Answer: C) inventories of new machinery, equipment, or software

Explanation:

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Q:

The 2016 Olympics bronze medalist Sakshi Malik hails from which state?

A) Bihar	B) Punjab
C) Uttaranchal	D) Haryana

Answer & Explanation Answer: D) Haryana

Explanation:

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Filed Under: Sports
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Q:

In 2017, which Indian scientist was honoured with the Living Legend Award by the International Union of Nutritional Sciences (IUNS) for stellar contributions in the area of nutrition?

A) Rohini Godbole	B) Tessy Thoms
C) Mahtab Bamji	D) Suman Sahaia

Answer & Explanation Answer: C) Mahtab Bamji

Explanation:

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Q:

Union Government Budget deficit for a particular financial year represents

A) Total amount of revenue receipts	B) Total amount of capital receipts
C) The amount of money that the Government has to borrow	D) Total amount of estimated Government expenditure

Answer & Explanation Answer: B) Total amount of capital receipts

Explanation:

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Q:

On 2 January 2018, who launched the ‘NARI’ portal in New Delhi to provide important information about Government schemes?

A) Sushma Swaraj	B) Maneka Gandhi
C) Nirmala Sitharaman	D) Anupriya Patel

Answer & Explanation Answer: B) Maneka Gandhi

Explanation:

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Q:

The production possibilities curve illustrates the basic principle that

A) an economy's capacity to produce increases in proportion to its population size.	B) the production of more of any one good will in time require smaller and smaller sacrifices of other goods.
C) an economy will automatically seek that level of output at which all of its resources are employed.	D) if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced.

Answer & Explanation Answer: D) if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced.

Explanation:

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Q:

Unemployment is an example of which of the following?

A) interest risk	B) inflation risk
C) personal risk	D) income risk

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