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

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The 'average propensity to save' is calculated as:

A. consumption divided by income

B. income divided by saving

C. change in saving divided by change in income

D. saving divided by income

Answer: Option D

Solution (By JKSSB Mock Tests)

APS is total saving divided by total income.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is NOT a maturity period for Treasury bills in India?

A. 364 days

B. 182 days

C. 730 days

D. 91 days

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Correct Answer: Option C

Explanation:
Treasury bills in India are issued for 91, 182 and 364 days.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'industrial licensing' after 1991 was retained for certain industries related to:

A. food processing

B. consumer goods

C. textiles

D. security, strategic and environmental concerns

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Correct Answer: Option D

Explanation:
Licensing was retained for industries related to security, strategic and environmental concerns.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Planning Commission' was replaced by NITI Aayog in which year?

A. 2015

B. 2013

C. 2017

D. 2016

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Correct Answer: Option A

Explanation:
The Planning Commission was replaced by NITI Aayog in 2015.

This question belongs to: Economy GK Economy Set 1

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