Startup India initiative primarily aims to: MCQ with Answer and Explanation

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Startup India initiative primarily aims to:

A. promote entrepreneurship and innovation

B. regulate stock markets

C. increase import duties

D. nationalize private companies

Answer: Option A

Solution (By JKSSB Mock Tests)

Startup India aims to promote entrepreneurship, innovation and startup growth.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

In the context of Indian public finance, 'Effective Revenue Deficit' is defined as:

A. Revenue deficit minus grants for creation of capital assets

B. Revenue deficit plus capital expenditure

C. Fiscal deficit minus interest payments

D. Primary deficit plus interest payments

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Correct Answer: Option A

Explanation:
Effective Revenue Deficit is Revenue Deficit minus grants given by the Centre to states and union territories for the creation of capital assets.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the short-run cost curves?

A. Marginal cost is always constant

B. Average fixed cost declines continuously as output increases

C. All costs are variable

D. There are no fixed costs

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Correct Answer: Option B

Explanation:
Average fixed cost falls continuously with an increase in output because total fixed cost is spread over a larger number of units; the AFC curve is a rectangular hyperbola.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the 'Gravity Model' of international trade?

A. Bilateral trade flows are positively related to the economic sizes of the countries and negatively related to the distance between them

B. Trade is independent of distance

C. Only tariffs determine trade volumes

D. Trade is determined only by comparative advantage

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Correct Answer: Option A

Explanation:
The gravity model predicts that the volume of trade between two countries is proportional to the product of their GDPs and inversely related to the distance (and other trade costs) between them.

This question belongs to: Economy GK Economy Set 1

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