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 171 Discuss
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What is the total literacy rate according to the 2001 census of India?

A
64.83 percent
B
60.83 percent
C
68.83 percent
D
70.83 percent

Answer & Explanation

Correct Option: A

According to the final 2001 Census tabulations, India's overall literacy rate impressively reached 64.83%, successfully showing a highly significant improvement from the much lower 52.21% officially recorded in the 1991 Census.
Question 172 Discuss
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The growth rate target for the twelfth five year the plan was .

A
5%
B
8%
C
6%
D
7%

Answer & Explanation

Correct Option: B

The National Development Council (NDC) initially and highly optimistically proposed a 9% growth target for the Twelfth Five-Year Plan (2012-2017) but prudently revised it downwards to a much more realistic 8% later.
Question 173 Discuss
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The government of India in Budget 2023-24, has adopted how many priorities?

A
Seven
B
Nine
C
Five
D
Six

Answer & Explanation

Correct Option: A

The Union Budget 2023-24 grandly outlined exactly seven guiding priorities, termed 'Saptarishi,' which firmly included inclusive development, reaching the last mile, infrastructure and investment, unleashing potential, green growth, youth power, and the financial sector.
Question 174 Discuss
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Read the following about Deficit reduction.

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

Answer & Explanation

Correct Option: B

Deficit reduction actively involves strict fiscal policies deliberately aimed at decreasing the dangerous gap between government expenditures and revenues, typically achieved through tax increases, harsh spending cuts, or a balanced combination of both.
Question 175 Discuss
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In India, "APEDA" is related to which of the following?

A
Agriculture
B
Highways
C
IT Services
D
Arms and ammunition

Answer & Explanation

Correct Option: A

APEDA definitively stands for the Agricultural and Processed Food Products Export Development Authority, an apex government regulatory body strongly responsible for the export promotion and strict quality control of agricultural products in India.
Question 176 Discuss
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Which of the following five year plan of India aim was to make India a 'self-reliant' and 'self generating' economy?

A
Second five year Plan
B
Third five year Plan
C
First five year Plan
D
Fourth five year Plan CORRECT statement

Answer & Explanation

Correct Option: B

Following the heavy industrial focus of the Second Plan, the Third Five-Year Plan (1961-1966) reprioritized agricultural development alongside industry to resolutely ensure the Indian economy became completely 'self-reliant' and powerfully 'self-generating'.
Question 177 Discuss
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India's population pyramid, with a wide base and narrower top, suggests what type of population structure?

A
Stable
B
Stationary
C
Expansive
D
Constrictive

Answer & Explanation

Correct Option: C

A demographic population pyramid with a distinctly broad base and a steeply narrow top is formally termed 'expansive.' It actively indicates a high birth rate and a rapidly growing population with a massive proportion of young dependents, very typical of developing nations.
Question 178 Discuss
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Which of the following statements is correct regarding Depreciation? I. Depreciation is termed as loss of value of fixed assets due to wear and tear during its useful life. II. Depreciation does not take into account unexpected or sudden destruction.

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

Answer & Explanation

Correct Option: C

In strict national income accounting, depreciation heavily accounts for the completely regular wear and tear of physical capital goods during normal production, but it specifically and intentionally excludes sudden loss of value from unforeseen catastrophic events.
Question 179 Discuss
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What is the Cash Reserve Ratio (CRR) in the context of Indian banking?

A
It's the interest rate at which banks borrow from the central bank
B
It's the percentage of deposits that banks must keep in liquid form in the short term
C
It's the ratio of a bank's capital to its total assets
D
It's the ratio of government bonds to total assets held by a bank

Answer & Explanation

Correct Option: B

The Cash Reserve Ratio (CRR) is a highly critical monetary policy tool powerfully used by the Reserve Bank of India, mathematically defined as the minimum percentage of a commercial bank's total deposits that strictly must be held as liquid cash reserves.
Question 180 Discuss
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Read the following about Capital receipts.

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

Answer & Explanation

Correct Option: D

Capital receipts are crucial government financial inflows that forcefully either create a new liability (like massive borrowings from the public or foreign states) or significantly reduce an existing asset (like the strategic sale of shares in public sector enterprises).
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