The 'Emergency Credit Line Guarantee Scheme' was launched to help MSMEs during: MCQ with Answer and Explanation

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The 'Emergency Credit Line Guarantee Scheme' was launched to help MSMEs during:

A. COVID-19 pandemic

B. demonetization

C. drought

D. flood

Answer: Option A

Solution (By JKSSB Mock Tests)

ECLGS was launched during the COVID-19 pandemic to provide credit to MSMEs.

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 NOT a type of foreign investment?

A. External Commercial Borrowings

B. Foreign Portfolio Investment

C. Domestic bank deposits by residents

D. Foreign Direct Investment

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Correct Answer: Option C

Explanation:
Domestic bank deposits by residents are not foreign investment. FDI, FPI and ECBs represent different forms of foreign capital inflows.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Contract Labour (Regulation and Abolition) Act' was enacted in which year?

A. 1976

B. 1961

C. 1970

D. 1986

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Correct Answer: Option C

Explanation:
The Contract Labour Act was enacted in 1970.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the Keynesian consumption function?

A. Consumption is independent of income

B. Consumption is a function of current disposable income

C. Average propensity to consume rises with income

D. Consumption depends only on the rate of interest

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Correct Answer: Option B

Explanation:
The simple Keynesian consumption function states that current consumption depends primarily on current disposable income, with a positive marginal propensity to consume less than one.

This question belongs to: Economy GK Economy Set 1

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