Returns to scale refers to the relationship between inputs and output when: MCQ with Answer and Explanation

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Returns to scale refers to the relationship between inputs and output when:

A. only one factor is changed

B. technology is fixed

C. all factors are changed in the same proportion

D. marginal cost is constant

Answer: Option C

Solution (By JKSSB Mock Tests)

Returns to scale describe the long-run response of output when all inputs change proportionally.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'National Statistical Office' was formed by merging:

A. CSO and NSSO

B. RBI and SEBI

C. Labour Bureau and NSSO

D. CSO and Labour Bureau

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Correct Answer: Option A

Explanation:
NSO was formed by merging Central Statistics Office and National Sample Survey Office.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'literacy rate' in the Indian census is defined for persons aged:

A. 7 years and above

B. 0-6 years

C. 18-60 years

D. 15-35 years

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Correct Answer: Option A

Explanation:
The literacy rate is calculated for the population aged 7 years and above.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'General Anti-Avoidance Rule' in India was introduced in which year?

A. 2017

B. 2010

C. 2020

D. 2018

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Correct Answer: Option A

Explanation:
GAAR came into effect in India in April 2017.

This question belongs to: Economy GK Economy Set 1

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