economics
jkssb economics set 1 mcqs
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Practice Questions
296 Total
Question 291
Discuss
Which edition of 'Pradhan Mantri Kaushal Vikas Yojana' has been announced in union budget 2023?
Answer & Explanation
Correct Option: C
The Union Budget 2023-24 announced the launch of PMKVY 4.0 to skill hundreds of thousands of youth in new-age courses like AI, robotics, mechatronics, and 3D printing.
Question 292
Discuss
Which country was a major importer of dye intermediates and castor oils from India in 2022 23?
Answer & Explanation
Correct Option: A
China remains a massive manufacturing hub and heavily relies on imported Indian chemical intermediates and specialized agricultural products like castor oil to fuel its domestic industries.
Question 293
Discuss
While estimating Gross Domestic Product, the monetary value of only final goods are considered because……… a) they are easier to count b) it prevents double counting c) they generate higher taxes
Answer & Explanation
Correct Option: C
GDP counts only the value of final goods to avoid the error of double counting, ensuring that the value of intermediate inputs isn't tallied multiple times throughout the production process.
Question 294
Discuss
Which of the following statements is/are true about public goods? I. Rivalrous in consumption II. Non-excludability III. Positive marginal cost
Answer & Explanation
Correct Option: C
True public goods are characterized by non-excludability (you cannot prevent people from using them) and non-rivalry (one person's use does not deplete availability for another).
Question 295
Discuss
Proposed in 2023-24, which section of the Income Tax Act of 1961 exempts senior citizens aged 75 years and above from filing income tax returns?
Answer & Explanation
Correct Option: D
Section 194P was introduced to provide compliance relief to senior citizens over 75, exempting them from filing tax returns if their only income consists of pension and bank interest from the same specified bank.
Question 296
Discuss
What approach did Dadabhai Naoroji use to calculate the Poverty Line?
Answer & Explanation
Correct Option: D
In his pioneering work on Indian poverty during the British era, Dadabhai Naoroji calculated the cost of a basic minimum diet used for adult prisoners to establish an early poverty line.