Economics Jkssb Economics Set 2 Mcqs (342 MCQs) | JKSSB & SSC Quiz

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jkssb economics set 2 mcqs

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Practice Questions

342 Total
Question 111 Discuss
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Average density of population in India is persons per square km, according to 2011 census of India.

A
342
B
322
C
362
D
382

Answer & Explanation

Correct Option: D

According to the 2011 Census of India, the population density of the country is 382 persons per square kilometer. This represents an increase from 324 persons per square kilometer in the 2001 census.
Question 112 Discuss
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When a person seems to be working, but their work is not contributing to the output, it is known as .

A
Cyclical unemployment
B
Frictional unemployment
C
Disguised unemployment
D
Seasonal unemployment

Answer & Explanation

Correct Option: C

Disguised unemployment occurs when more people are employed in a job than are actually needed, meaning their marginal productivity is zero. This is most commonly seen in India's agricultural sector.
Question 113 Discuss
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Demonetization was a new initiative taken by the Government of India in to tackle the problem of corruption, black money, terrorism and circulation of fake currency in the economy.

A
November 2017
B
October 2017
C
October 2016
D
November 2016

Answer & Explanation

Correct Option: D

On November 8, 2016, the Government of India announced the demonetization of all ₹500 and ₹1,000 banknotes to combat black money, corruption, and counterfeit currency.
Question 114 Discuss
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What is the term for the policy of replacing or substituting imports with domestic production?

A
International trade
B
Export-led growth
C
Import substitution
D
Import liberalization

Answer & Explanation

Correct Option: C

Import substitution industrialization is an economic and trade policy that advocates replacing foreign imports with domestic production to reduce a country's foreign dependency.
Question 115 Discuss
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Which of the following is the time period of the Sixth five year plan?

A
1992-1997
B
1974-1979
C
1985 −1990
D
1980-1985

Answer & Explanation

Correct Option: D

The Sixth Five-Year Plan of India was implemented from 1980 to 1985 under the leadership of Prime Minister Indira Gandhi, focusing heavily on economic liberalization and eradicating poverty.
Question 116 Discuss
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The Integrated Goods and Services Tax (Amendment) Bill, 2023 amends the Integrated Goods and Services Tax (IGST) Act, .

A
2019
B
2017
C
2013
D
2015

Answer & Explanation

Correct Option: B

The Integrated Goods and Services Tax (Amendment) Bill, 2023, amended the original IGST Act of 2017 to clarify and update taxation rules regarding online gaming, casinos, and horse racing.
Question 117 Discuss
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Which of the following statements is correct regarding Green Revolution? I. Green Revolution made India self-reliant in foodgrain production. II. Post Green Revolution, there is decrease in the use of chemical fertilizers.

A
Only II
B
Both I and II
C
Only I
D
Neither I nor II

Answer & Explanation

Correct Option: C

The Green Revolution made India self-sufficient in food grains primarily through high-yielding variety (HYV) seeds. However, it led to a massive increase, rather than a decrease, in the use of chemical fertilizers.
Question 118 Discuss
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During eighth Five year plan, India became a member of the World Trade Organization on 1 January .

A
1978
B
1948
C
1995
D
1998

Answer & Explanation

Correct Option: C

The World Trade Organization (WTO) was officially established on January 1, 1995, and India was one of its founding members during the Eighth Five-Year Plan (1992-1997).
Question 119 Discuss
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Rapid industrialization was the main objective of which of the following five-year plans of India?

A
Fourth five-year Plan
B
Third five-year Plan
C
Second five-year Plan
D
First five-year Plan

Answer & Explanation

Correct Option: C

The Second Five-Year Plan (1956-1961), based on the Mahalanobis model, specifically focused on rapid industrialization and the extensive development of heavy and basic industries.
Question 120 Discuss
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Read the following about the supply of Money.

A
Both A and B
B
Only B
C
Neither A nor B
D
Only A

Answer & Explanation

Correct Option: A

The money supply refers to the total volume of money held by the public at a particular point in time, heavily encompassing both currency in circulation and demand deposits held by commercial banks.
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