Economics Jkssb Economics Set 1 Mcqs (296 MCQs) | JKSSB & SSC Quiz

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jkssb economics set 1 mcqs

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Practice Questions

296 Total
Question 131 Discuss
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Mohammad Yunus established which of the following banks in 1983?

A
Indian Bank
B
Union Bank
C
State Bank
D
Grameen Bank

Answer & Explanation

Correct Option: D

Nobel laureate Muhammad Yunus founded the Grameen Bank in Bangladesh in 1983 to provide microcredit and banking services to the rural poor without requiring collateral.
Question 132 Discuss
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In which year was Micro Units Development and Refinance Agency (MUDR(A) introduced?

A
2017
B
2013
C
2009
D
2015

Answer & Explanation

Correct Option: D

The Pradhan Mantri MUDRA Yojana was launched by the Government of India in April 2015 to provide loans up to 10 lakhs to non-corporate, non-farm small/micro enterprises.
Question 133 Discuss
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The results from an increase in the proportion of workers relative to non-workers in the population.

A
age structure of population
B
demographic dividend
C
population momentum
D
old-age dependency ratio

Answer & Explanation

Correct Option: B

A demographic dividend refers to the accelerated economic growth that can occur when a population's working-age share is larger than its non-working-age share.
Question 134 Discuss
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Who is the founder of modern micro finance?

A
VKV Rao
B
Rangarajan
C
YV Reddy
D
Muhammad Yunus

Answer & Explanation

Correct Option: D

Muhammad Yunus is widely regarded as the father of modern microfinance for pioneering the concepts of microcredit and microfinance through the Grameen Bank.
Question 135 Discuss
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According to Census of India 2011, what was the sex ratio recorded in the Union Territory of Puducherry?

A
980 females /1000 males
B
1095 females/1000 males
C
1037 females/ 1000 males
D
890 females/ 1000 males

Answer & Explanation

Correct Option: C

The 2011 Census recorded a highly favorable sex ratio for Puducherry, standing at 1,037 females for every 1,000 males, one of the highest in the country.
Question 136 Discuss
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Which cost is considered for calculating the national income in India?

A
Factor cost
B
Product cost
C
Market cost
D
Sunk cost

Answer & Explanation

Correct Option: A

Historically, India calculated national income (NNP) at factor cost, which measures the actual cost of production by excluding indirect taxes and including subsidies.
Question 137 Discuss
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According to the Census 2011 of India, which metropolitan has the second highest population?

A
Kolkata
B
Mumbai
C
Chennai
D
Delhi

Answer & Explanation

Correct Option: D

In the 2011 Census, Greater Mumbai was the most populous metropolitan city in India, closely followed by Delhi as the second most populous.
Question 138 Discuss
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The relationship between which of the following is correct?

A
NDP at market price = GDP at market price + depreciation
B
Domestic income = NDP at market price + net indirect taxes
C
GDP at market price = price + quantity of final goods and services
D
National income = NDP at factor cost + net factor income from abroad

Answer & Explanation

Correct Option: D

National Income is defined as Net National Product (NNP) at factor cost, which is correctly calculated by adding Net Factor Income from Abroad (NFIA) to the Net Domestic Product (NDP) at factor cost.
Question 139 Discuss
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Which of the following statements are true about the positive impact of the Green Revolution (GR) on yield levels in India? i. During the post GR period, the yield of rice grew at a much faster rate than that of wheat. ii. GR technology had penetrated more in wheat crop than in the rice crop. iii. During post GR period, the area under rice achieved a relatively slow growth when compared to the area under wheat.

A
Only ii and iii
B
i, ii and iii
C
Only i and ii
D
Only i and iii

Answer & Explanation

Correct Option: A

The initial phase of the Green Revolution in India was largely confined to wheat-growing regions, resulting in wheat yields and cultivation areas growing at a much faster rate than rice.
Question 140 Discuss
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The velocity of circulation of money will be higher when the is less than the requirements of the economy.

A
velocity of money
B
elasticity of money
C
demand for money
D
supply of money

Answer & Explanation

Correct Option: C

When people prefer to hold less cash (low demand for money) and instead spend it quickly, the frequency with which a single unit of currency changes hands—the velocity of circulation—increases.
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