True/False – GK Questions

FDI and FII flows are recorded in the Capital account.

IMF provides short/medium term Balance of Payments support.

Components are Health (life expectancy), Education, and Standard of living.

Primarily focused on high-yielding varieties of wheat and rice.

The First Five Year Plan covered the period 1951-1956.

Shows the borrowing requirement excluding past interest obligations.

It is directly levied on the net profits of corporations.

The incidence and impact fall on the exact same person.

Open Market Operations are used to manage system liquidity.

Reverse repo rate is always kept lower than the repo rate.

Nationalized on January 1, 1949.

Rising input costs like wages and raw materials push prices up.

Both parties must desire exactly what the other has to offer.

Legally, it cannot be refused for the settlement of debts.

False during periods of deflation or in the base year.

No goods or services are produced in exchange for transfers.

GNP = GDP + Net Factor Income from Abroad (NFIA).

Fixed cost remains constant regardless of output level.

Isoquants never intersect, similar to ICs.

All costs are variable in the long run.