In the IS-LM model, the IS curve represents equilibrium in the: MCQ with Answer and Explanation

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In the IS-LM model, the IS curve represents equilibrium in the:

A. Money market

B. Labour market

C. Goods market

D. Foreign exchange market

Answer: Option C

Solution (By JKSSB Mock Tests)

The IS curve shows combinations of interest rate and income at which the goods market is in equilibrium (Investment = Saving).

This question belongs to: Economy GK Economy Set 1

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The 'Skill India Mission' was launched in which year?

A. 2014

B. 2016

C. 2017

D. 2015

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Correct Answer: Option D

Explanation:
Skill India Mission was launched in 2015.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a characteristic of the informal sector in developing economies?

A. High capital intensity and formal contracts

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C. Easy entry, small scale and labour intensity

D. High degree of regulation

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Correct Answer: Option C

Explanation:
The informal sector is characterised by easy entry, small-scale operations, labour-intensive technology, lack of formal contracts and limited regulation.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on warehousing services is:

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Correct Answer: Option D

Explanation:
Warehousing services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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