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 181 Discuss
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CORRECT statement The five year plan of India could not take off in 1990 due to the fast changing political situation at the Centre.

A
Eighth
B
Ninth
C
Sixth
D
Seventh

Answer & Explanation

Correct Option: A

The Eighth Five-Year Plan was originally legally scheduled to begin in 1990, but severe, fast-changing political instability at the Center and the massive ensuing economic balance-of-payments crisis firmly forced its postponement to 1992.
Question 182 Discuss
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When a person leaves one job (either voluntarily or involuntarily) without finding another one, they are known to be going through ……… .

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

Answer & Explanation

Correct Option: D

Frictional unemployment is an entirely temporary form of natural unemployment that routinely occurs as workers slowly transition between jobs or actively enter the workforce for the first time while searching for highly suitable employment.
Question 183 Discuss
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The India-UAE Comprehensive Economic Partnership Agreement (CEPA) was signed on 18th February 2022 by the Minister of and the Minister of Economy of the UAE.

A
Commerce & Industry
B
Finance
C
External Affairs
D
Home Affairs

Answer & Explanation

Correct Option: A

The historic, deeply consequential India-UAE Comprehensive Economic Partnership Agreement (CEPA) was officially signed in 2022 by India's powerful Minister of Commerce and Industry, Piyush Goyal, and the UAE Minister of Economy.
Question 184 Discuss
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Which sector of the economy focuses on intellectual activities and innovation?

A
Quaternary sector
B
Primary sector
C
Secondary sector
D
Tertiary sector

Answer & Explanation

Correct Option: A

The quaternary sector of the modern economy purely consists of deep intellectual, knowledge-based activities, fundamentally including intensive research and development, complex information technology, higher education, and expert consultation services.
Question 185 Discuss
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How many questions were asked in the 2011 Census of India?

A
29 Questions
B
21 Questions
C
25 Questions
D
33 Questions

Answer & Explanation

Correct Option: A

The gigantic 2011 Indian Census house-listing and population enumeration schedules actively collected extensive demographic and socio-economic personal data across a completely standardized set of exactly 29 specific questions.
Question 186 Discuss
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is the difference between the government's total expenditure and its total receipts excluding borrowing.

A
Fiscal deficit
B
Revenue surplus
C
Primary deficit
D
Revenue deficit

Answer & Explanation

Correct Option: A

Fiscal deficit highly accurately measures the government's total gross borrowing requirements for the year, mathematically calculated by firmly subtracting total revenue (strictly excluding borrowings) from total massive expenditure.
Question 187 Discuss
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What is the full form of NEIA?

A
National Emergency Insurance Account
B
National Export Insurance Authority
C
National Export Insurance Account
D
National Export Issuance Account

Answer & Explanation

Correct Option: C

The National Export Insurance Account (NEIA) was strategically established by the Government of India to powerfully promote medium and long-term large project exports by providing absolutely necessary credit risk insurance backing.
Question 188 Discuss
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The Green Revolution significantly increased crop yields and transformed Indian agriculture. What was one of its notable drawbacks?

A
Environmental degradation
B
Limited use of chemical fertilizers
C
Decreased food production
D
Reduced government investment

Answer & Explanation

Correct Option: A

While the Green Revolution drastically and rapidly improved crop yields, it tragically resulted in severe, long-term environmental degradation largely due to the highly excessive use of chemical fertilizers, pesticides, and deeply intensive groundwater extraction.
Question 189 Discuss
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Unemployment that occurs during recessions and depressions are called as .

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

Answer & Explanation

Correct Option: A

Cyclical unemployment is most directly and firmly linked to broad macroeconomic fluctuations, rising significantly during sharp economic downturns or severe recessions when aggregate consumer demand for goods and services massively falls.
Question 190 Discuss
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The Federation of the Indian Chamber of Commerce and Industries (FICCI) was formed in .

A
1937
B
1947
C
1917
D
1927

Answer & Explanation

Correct Option: D

The powerful Federation of Indian Chambers of Commerce and Industry (FICCI) was highly strategically established in 1927 by prominent Indian businessmen G.D. Birla and Purshottamdas Thakurdas directly on the advice of Mahatma Gandhi.
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