The 'First Advance Estimates' of GDP for a financial year in India are released by: MCQ with Answer and Explanation

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The 'First Advance Estimates' of GDP for a financial year in India are released by:

A. National Statistical Office

B. Ministry of Finance

C. NITI Aayog

D. RBI

Answer: Option A

Solution (By JKSSB Mock Tests)

The NSO releases advance estimates of GDP.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

A progressive income tax is one where:

A. the tax rate decreases as income rises

B. the tax rate is constant at all incomes

C. the tax rate increases as income rises

D. only the poor pay tax

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Correct Answer: Option C

Explanation:
Under a progressive tax, the average tax rate rises as income increases.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the '15-Minute City' concept?

A. Only a high-speed transport network without local amenities

B. An urban planning model in which most daily needs can be met within a short walk or cycle from home

C. A city in which all travel requires long car journeys

D. A purely residential suburb without services

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Correct Answer: Option B

Explanation:
The 15-minute city is an urban design principle that aims to ensure that residents can access work, shopping, education, healthcare and leisure within a 15-minute walk or bicycle ride from their homes.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of demand analysis, the Engel Curve shows the relationship between:

A. Price and quantity demanded

B. Cost and output

C. Income and quantity demanded

D. Price and supply

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Correct Answer: Option C

Explanation:
The Engel Curve illustrates how the quantity demanded of a good changes as consumer income changes, holding prices constant.

This question belongs to: Economy GK Economy Set 1

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