An 'export subsidy' is a payment to domestic producers that: MCQ with Answer and Explanation

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An 'export subsidy' is a payment to domestic producers that:

A. reduces their exports

B. increases their exports

C. raises domestic prices only

D. increases imports

Answer: Option B

Solution (By JKSSB Mock Tests)

Export subsidies lower costs for exporters, enabling them to sell abroad at competitive prices.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a major source of tax revenue for the Central Government?

A. Only entertainment tax

B. Corporation tax, income tax and central GST

C. Only property tax collected by local bodies

D. Only professional tax

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Correct Answer: Option B

Explanation:
The major sources of central tax revenue include corporation tax, personal income tax, and the central share of GST, along with customs duties.

This question belongs to: Economy GK Economy Set 1

Question #2

In India, the estimate of National Income is usually expressed as:

A. GDP at factor cost

B. GDP at market prices

C. GNP at market prices

D. NNP at factor cost

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Correct Answer: Option D

Explanation:
National Income is conventionally defined as Net National Product at factor cost.

This question belongs to: Economy GK Economy Set 1

Question #3

The primary goal of the Twelfth Five Year Plan was:

A. faster, more inclusive and sustainable growth

B. poverty eradication

C. full employment

D. universal literacy

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Correct Answer: Option A

Explanation:
The Twelfth Five Year Plan aimed at faster, more inclusive and sustainable growth.

This question belongs to: Economy GK Economy Set 1

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