The 'Economic Advisor' who compiles the Economic Survey is under the: MCQ with Answer and Explanation

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The 'Economic Advisor' who compiles the Economic Survey is under the:

A. RBI

B. NITI Aayog

C. Ministry of Finance

D. Ministry of Statistics

Answer: Option C

Solution (By JKSSB Mock Tests)

Chief Economic Adviser is under the Department of Economic Affairs, Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Which of the following is a major difficulty in measuring national income in developing countries?

A. Presence of a large non-monetised and informal sector

B. Uniform and comprehensive accounting practices

C. Complete availability of reliable data for all activities

D. Absence of any informal economic activity

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Correct Answer: Option A

Explanation:
Developing countries face significant measurement challenges due to a large non-monetised sector, widespread informal activities, under-reporting and inadequate statistical systems.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Startup India' action plan was launched in:

A. 2016

B. 2017

C. 2014

D. 2018

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Correct Answer: Option A

Explanation:
Startup India was launched in January 2016.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'circular flow of income' in a three-sector economy includes:

A. households, firms and government

B. households, firms and foreign sector

C. firms and government only

D. government and foreign sector only

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Correct Answer: Option A

Explanation:
A three-sector economy includes households, firms and government.

This question belongs to: Economy GK Economy Set 1

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