The 'Atal New India Challenge' is an initiative of: MCQ with Answer and Explanation

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The 'Atal New India Challenge' is an initiative of:

A. SEBI

B. Ministry of Defence

C. Atal Innovation Mission, NITI Aayog

D. Ministry of Finance

Answer: Option C

Solution (By JKSSB Mock Tests)

Atal New India Challenge is an initiative of Atal Innovation Mission under NITI Aayog.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a measure of economic inequality?

A. Only GDP growth rate

B. Gini coefficient, Lorenz curve and Theil index

C. Only unemployment rate

D. Human Development Index as a pure inequality measure

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Correct Answer: Option B

Explanation:
The Gini coefficient, Lorenz curve and Theil index are standard measures used to quantify the degree of inequality in the distribution of income or wealth.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Precautionary Saving' arises because:

A. Only permanent income matters

B. Saving is independent of uncertainty

C. Individuals save only for retirement

D. Individuals save more when future income is uncertain

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Correct Answer: Option D

Explanation:
Precautionary saving is additional saving undertaken by risk-averse agents to buffer against future income or expenditure uncertainty.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Union Budget' is presented under which article of the Constitution?

A. Article 110

B. Article 280

C. Article 112

D. Article 265

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Correct Answer: Option C

Explanation:
The Annual Financial Statement is presented under Article 112.

This question belongs to: Economy GK Economy Set 1

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