The 'Atal Incubation Centre' scheme supports: MCQ with Answer and Explanation

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The 'Atal Incubation Centre' scheme supports:

A. startups and entrepreneurs

B. foreign companies

C. government departments

D. large industries

Answer: Option A

Solution (By JKSSB Mock Tests)

Atal Incubation Centres support startups and entrepreneurs.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of growth theory, 'Semi-Endogenous Growth' models feature:

A. No role for research and development

B. Long-run growth that depends on population growth but not on policy parameters that affect the R&D share

C. Long-run growth that is fully endogenous to policy

D. Only exogenous technological progress

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Correct Answer: Option B

Explanation:
Semi-endogenous growth models retain diminishing returns to knowledge in the R&D sector, so that long-run growth is proportional to population growth and is not affected by the share of resources devoted to R&D.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'good and services tax' on petroleum crude, diesel, petrol, natural gas and aviation turbine fuel:

A. is levied at zero rate

B. is presently outside GST

C. has been fully included

D. is exempt

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Correct Answer: Option B

Explanation:
These petroleum products are currently outside the GST regime.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Laffer curve' suggests that beyond a certain tax rate, an increase in the tax rate may:

A. reduce total tax revenue

B. increase total tax revenue

C. eliminate all tax revenue immediately

D. leave revenue unchanged

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Correct Answer: Option A

Explanation:
The Laffer curve suggests very high tax rates can reduce work and investment, lowering tax revenue.

This question belongs to: Economy GK Economy Set 1

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