The 'Food Processing Industries' in India are classified as which sector? MCQ with Answer and Explanation

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The 'Food Processing Industries' in India are classified as which sector?

A. Secondary

B. Primary

C. Tertiary

D. Quaternary

Answer: Option A

Solution (By JKSSB Mock Tests)

Food processing is a secondary sector manufacturing activity.

This question belongs to: Economy GK Economy Set 1

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Question #1

Green GDP is an indicator that adjusts GDP for:

A. foreign debt

B. population growth

C. inflation

D. environmental degradation and natural resource depletion

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Correct Answer: Option D

Explanation:
Green GDP adjusts conventional GDP for environmental degradation and natural resource depletion.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' refund for exporters is available through:

A. customs only

B. SEBI

C. GST refund mechanism

D. income tax return

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Correct Answer: Option C

Explanation:
Exporters can claim refunds of accumulated input tax credit under GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Fiscal Multiplier' measures:

A. The change in output resulting from a unit change in government spending or taxes

B. Only the change in interest rates

C. Only the change in the exchange rate

D. Only the change in the money supply

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Correct Answer: Option A

Explanation:
The fiscal multiplier is the ratio of the change in real GDP to an exogenous change in the fiscal instrument (government purchases or taxes).

This question belongs to: Economy GK Economy Set 1

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