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 171 Discuss
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Which of the following statements is/are true with respect to MRTP Act? rural i) The Monopolies and Restrictive Trade Practices Act (MRTP Act) was repealed and replaced by the Competition Act, 2002. ii) The asset limit for MRTP companies was fixed at Rs. 25 crores by the first/original Monopolies and Restrictive Trade Practices Act (MRTP Act). iii) The Monopolies and Restrictive Trade Practices Act (MRTP Act) was first passed in 1969.

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

Answer & Explanation

Correct Option: A

The MRTP Act of 1969 was effectively replaced by the modern Competition Act of 2002 to shift India's regulatory focus from merely restricting monopolies to actively promoting competition.
Question 172 Discuss
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As per the Census-2011, the total absolute increase in population during the decade is .

A
15.23 crore
B
17.21 crore
C
16.41 crore
D
18.19 crore

Answer & Explanation

Correct Option: D

Between 2001 and 2011, India's population grew by approximately 181 million (18.19 crore), which was notably slightly less than the absolute increase in the previous decade.
Question 173 Discuss
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The country's infrastructure vision for FY-2025 and the first exercise to be conducted in India is named as…..

A
National Infrastructure Plan
B
National Infrastructure Pipeline
C
National Infrastructure Projects
D
National Infrastructure Planning

Answer & Explanation

Correct Option: B

Launched in 2019, the National Infrastructure Pipeline (NIP) outlines a comprehensive, multi-crore investment plan to develop world-class infrastructure across India by FY-2025.
Question 174 Discuss
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Which of the following is NOT a characteristics of the National Investment and Manufacturing Zones (NIMZs) of India?

A
The state government will provide power connectivity, water and other infrastructural facilities.
B
A special purpose vehicle will be constituted to take care of the functioning of NIMZs.
C
It prescribes a minimum area of 10000 hectares for establishing NIMZs.
D
At least 30% of the total land area proposed for the NIMZ is to be utilized for manufacturing units.

Answer & Explanation

Correct Option: C

The National Manufacturing Policy states that NIMZs require a minimum area of 5,000 hectares, not 10,000 hectares, making option C factually incorrect.
Question 175 Discuss
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The Industrial Policy Resolution, 1948 mainly categorised the large-scale industries into fragments.

A
three
B
four
C
two
D
five

Answer & Explanation

Correct Option: B

The Industrial Policy Resolution of 1948 structurally divided Indian industries into four broad categories based on the extent of state ownership and control.
Question 176 Discuss
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Which of the following committees was associated with Industrial Licensing Policy Inquiry? 172

A
Gadgil Committee
B
Hazari Committee
C
Sen Committee
D
Dutt Committee

Answer & Explanation

Correct Option: D

The Dutt Committee, or the Industrial Licensing Policy Inquiry Committee of 1969, heavily scrutinized the licensing system and revealed that it had disproportionately benefited large industrial houses.
Question 177 Discuss
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What is the impact of proportional taxes?

A
Increases the marginal propensity to consume
B
Reduces the autonomous expenditure multiplier
C
Increases the induced expenditure multiplier
D
Increases the autonomous expenditure multiplier

Answer & Explanation

Correct Option: B

Proportional income taxes reduce the marginal propensity to consume out of gross income, which essentially acts as a leakage and decreases the overall autonomous expenditure multiplier.
Question 178 Discuss
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Aajeevika - National Rural Livelihoods Mission (NRLM) - was launched by the Ministry of Rural Development (MoRD), Government of India, in the year .

A
2013
B
2010
C
2012
D
2011

Answer & Explanation

Correct Option: D

The Government of India launched NRLM in June 2011 to systematically reduce rural poverty by organizing poor households into self-help groups and supporting their livelihoods.
Question 179 Discuss
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Which of the following is issued by commercial banks at a discount on face value?

A
Commercial papers
B
Certificates of deposits
C
Treasury bills
D
Promissory notes

Answer & Explanation

Correct Option: B

Certificates of Deposit (CDs) are unsecured, negotiable, short-term money market instruments issued by commercial banks at a discount to their face value.
Question 180 Discuss
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In cost theory, the usual shape of the curve is a rectangular hyperbola.

A
total cost
B
fixed cost
C
average fixed cost
D
variable cost

Answer & Explanation

Correct Option: C

The Average Fixed Cost (AFC) curve is a rectangular hyperbola because total fixed cost remains constant; as output increases, the AFC continuously falls but never reaches zero.
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