The 'Export Promotion Capital Goods' scheme allows import of capital goods at: MCQ with Answer and Explanation

Question
The 'Export Promotion Capital Goods' scheme allows import of capital goods at:
A. higher duty
B. prohibited duty
C. only after export
D. zero duty subject to export obligation
Answer: Option D
Solution (By JKSSB Mock Tests)
EPCG allows import of capital goods at zero or concessional duty subject to export obligations.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The 'Index of Eight Core Industries' comprises which proportion of the weight in the Index of Industrial Production?
A. 20%
B. 80%
C. 40%
D. 60%
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Correct Answer: Option C

Explanation:
The eight core industries have a combined weight of about 40.27% in the Index of Industrial Production.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'snob effect' in consumer behaviour refers to:
A. buying goods to appear exclusive and different
B. following popular trends
C. buying only necessities
D. buying more when price falls
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Correct Answer: Option A

Explanation:
The snob effect is consumer preference for exclusive goods that set them apart.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a cause of demand-pull inflation?
A. Supply chain disruptions
B. Increase in money supply and aggregate demand
C. Increase in the cost of raw materials
D. Rise in wages independent of productivity
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Correct Answer: Option B

Explanation:
Demand-pull inflation arises when aggregate demand exceeds aggregate supply at full employment, often due to excess money supply or expansionary fiscal policy.
This question belongs to: Economy GK Economy Set 1
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