In the context of economic growth, the Harrod-Domar model emphasises the role of: MCQ with Answer and Explanation

In the context of economic growth, the Harrod-Domar model emphasises the role of:
A. Natural resources only
B. Labour force growth only
C. Technological progress only
D. Savings and capital-output ratio
Answer: Option D
Solution (By JKSSB Mock Tests)
The Harrod-Domar model states that the growth rate of an economy depends on the savings rate and the capital-output ratio (or inverse of the productivity of capital).

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Practice More Economy Set 1 Questions

Question #1
The 'Goods and Services Tax' rate on construction of other residential property is:
A. 1%
B. 18%
C. 12%
D. 5% without ITC

Correct Answer: Option D


Explanation:
Non-affordable residential construction attracts 5% GST without ITC.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Brown Revolution' is associated with:
A. leather and cocoa
B. coffee and cocoa production
C. food processing
D. fertilizer production

Correct Answer: Option B


Explanation:
Brown Revolution is associated with coffee and cocoa production.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'Goods and Services Tax' is a:
A. direct tax
B. indirect tax
C. capital gains tax
D. wealth tax

Correct Answer: Option B


Explanation:
GST is an indirect tax on goods and services.

This question belongs to: Economy GK Economy Set 1