The 'Emission Trading System' is a market-based approach to control pollution by: MCQ with Answer and Explanation

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The 'Emission Trading System' is a market-based approach to control pollution by:

A. creating tradable emission permits

B. taxing all production

C. subsidizing polluters

D. banning all emissions

Answer: Option A

Solution (By JKSSB Mock Tests)

Emission trading creates a market for tradable emission allowances, limiting total emissions.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'average propensity to consume' is calculated as:

A. total income divided by total consumption

B. change in consumption divided by change in income

C. total consumption divided by total income

D. total saving divided by total income

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Correct Answer: Option C

Explanation:
APC is total consumption divided by total income.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' rate on essential food items is:

A. 12%

B. 0%

C. 18%

D. 5%

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Correct Answer: Option B

Explanation:
Essential food items are often at 0% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of the Indian economy, the 'Demographic Dividend' refers to:

A. Increase in the proportion of dependent population

B. Increase in the old-age population only

C. Economic growth potential from a large working-age population

D. Decline in the total population

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Correct Answer: Option C

Explanation:
Demographic dividend arises when a large share of the population is of working age, providing an opportunity for higher economic growth if this workforce is productively employed.

This question belongs to: Economy GK Economy Set 1

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