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 221 Discuss
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Till 1993-94, the poverty line in India was based on URP data. What does 'URP' stand for?

A
Usual Research Period
B
Usual Reference Period
C
Uniform Reference Period
D
Uniform Research Period

Answer & Explanation

Correct Option: C

URP stands for Uniform Reference Period, a survey method where respondents are asked to recall their consumption expenditure over a uniform 30-day period for all items.
Question 222 Discuss
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In which of the following years, NABARD sanctions Action Research Project to MYRADA?

A
1985
B
1987
C
1983
D
1981

Answer & Explanation

Correct Option: B

In 1987, NABARD provided a grant to MYRADA to fund an action research project on Self-Help Groups (SHGs), laying the foundational groundwork for the SHG-Bank Linkage Programme.
Question 223 Discuss
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According to World bank, by what rate has extreme poverty reduced in India between 2011 and 2019?

A
15.3%
B
14.3%
C
13.3%
D
12.3%

Answer & Explanation

Correct Option: D

According to a World Bank policy research working paper, extreme poverty in India declined by 12.3 percentage points, dropping from 22.5% in 2011 to 10.2% in 2019.
Question 224 Discuss
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With respect to trade and industry, what is 'SCOMET'?

A
Standardised Commodities for Export and Trade
B
Special Chemicals, Organisms, Materials, Equipment and Technologies
C
Sectoral Commission on Markets, Exports and Tariffs
D
Standard Committee on Manufacturing and Export Trade

Answer & Explanation

Correct Option: B

SCOMET is an acronym for Special Chemicals, Organisms, Materials, Equipment, and Technologies, which refers to dual-use items that are subjected to strict export controls in India.
Question 225 Discuss
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The proportion of the population below the poverty line is called the poverty ratio or .

A
Income Disparity Index
B
headcount ratio
C
Gini Coefficient
D
Socioeconomic Quotient

Answer & Explanation

Correct Option: B

The headcount ratio directly measures the percentage of a given population that exists below the established poverty line.
Question 226 Discuss
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According to the 2011 Census of India, at all India level, the adult (15 + years) literacy rate is .

A
65.3 percent
B
63.3 percent
C
69.3 percent
D
73.3 percent

Answer & Explanation

Correct Option: C

While the overall national literacy rate was 74.04%, the 2011 Census specifically recorded the adult literacy rate (for those aged 15 and above) at 69.3%.
Question 227 Discuss
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The Service Tax, a tax on services like telephone services, stock brokers, health clubs, beauty parlors, dry cleaning services, etc., was introduced in .

A
1992 −93
B
1991 −92
C
1994 −95
D
1993 −94

Answer & Explanation

Correct Option: C

Service tax was first introduced in India in the financial year 1994-95 under Chapter V of the Finance Act, initially applied to only three specific services.
Question 228 Discuss
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According to Ministry of Commerce & Industry, during the financial year April 2022 - January 2023, the agricultural exports have amounted to USD billion.

A
43.37
B
23.37
C
33.37
D
13.37

Answer & Explanation

Correct Option: A

Official trade data from the Ministry of Commerce & Industry indicated that India's agricultural exports stood at a robust USD 43.37 billion for the April 2022 to January 2023 timeframe.
Question 229 Discuss
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Which of the following is true regarding Commercial Banks in India?

A
They do not accept deposits from the public
B
They are purely charitable institutions
C
They are not regulated by the RBI
D
They accept deposits and provide loans for profit

Answer & Explanation

Correct Option: D

Commercial banks in India operate for profit by mobilizing public deposits and extending credit, while remaining strictly regulated by the Reserve Bank of India.
Question 230 Discuss
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The literacy rates exclude Assam where the Census could not be conducted.

A
1981
B
1951
C
1961
D
1971

Answer & Explanation

Correct Option: A

The 1981 Census could not be carried out in the state of Assam due to widespread political unrest associated with the Assam Movement, meaning national figures from that year exclude it.
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