The 'average propensity to consume' is calculated as: MCQ with Answer and Explanation

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The 'average propensity to consume' is calculated as:

A. total saving divided by total income

B. total income divided by total consumption

C. change in consumption divided by change in income

D. total consumption divided by total income

Answer: Option D

Solution (By JKSSB Mock Tests)

APC is total consumption divided by total income.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'National Anti-profiteering Authority' under GST was headed by a:

A. Secretary-level officer

B. Supreme Court judge

C. Finance Minister

D. RBI Governor

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Correct Answer: Option A

Explanation:
NAA was headed by a Secretary-level officer.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'labour force participation rate' in India is higher in which age group?

A. 30-59

B. 15-29

C. 60+

D. 0-14

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Correct Answer: Option A

Explanation:
Labour force participation is generally higher in the 30-59 age group.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'special economic zone' policy in India was first announced in which year?

A. 2010

B. 2000

C. 1995

D. 2005

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Correct Answer: Option B

Explanation:
SEZ policy was announced in April 2000.

This question belongs to: Economy GK Economy Set 1

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