The Energy Crisis in India is often measured in terms of: MCQ with Answer and Explanation

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The Energy Crisis in India is often measured in terms of:

A. forest cover

B. peak demand deficit and energy deficit

C. agricultural output

D. fiscal deficit

Answer: Option B

Solution (By JKSSB Mock Tests)

The power sector deficit is measured by the gap between peak demand and availability.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'long-run Phillips curve' is vertical at:

A. zero inflation

B. the natural rate of unemployment

C. maximum inflation

D. full employment with zero unemployment

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Correct Answer: Option B

Explanation:
The long-run Phillips curve is vertical at the natural rate of unemployment.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pink Revolution' in India is associated with:

A. onion and pharmaceutical production

B. milk

C. wheat

D. shrimp production

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Correct Answer: Option A

Explanation:
Pink Revolution is associated with onion and pharmaceutical production.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the 'First-Generation' models of currency crises?

A. Crises are purely self-fulfilling without any fundamental weakness

B. Crises result from inconsistent fundamentals, typically persistent fiscal deficits financed by money creation under a fixed exchange rate

C. Only banking-sector problems matter

D. Crises never involve reserve losses

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Correct Answer: Option B

Explanation:
First-generation models (Krugman, Flood-Garber) show that a steadily deteriorating fiscal position financed by credit expansion leads to a speculative attack that exhausts reserves and forces the abandonment of the fixed exchange rate.

This question belongs to: Economy GK Economy Set 1

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