The Harrod-Domar growth model emphasizes the role of: MCQ with Answer and Explanation

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The Harrod-Domar growth model emphasizes the role of:

A. natural resources

B. technological progress

C. saving and capital-output ratio

D. population growth

Answer: Option C

Solution (By JKSSB Mock Tests)

The Harrod-Domar model emphasises saving rate and capital-output ratio as determinants of growth.

This question belongs to: Economy GK Economy Set 1

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Question #1

M0 in India is also known as:

A. high-powered money plus time deposits

B. broad money

C. narrow money

D. reserve money

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Correct Answer: Option D

Explanation:
M0 is reserve money or high-powered money, comprising currency in circulation plus bankers' deposits with RBI and other deposits.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'four-sector economy' circular flow includes:

A. households, firms, government and foreign sector

B. households, government, banks and firms

C. households, firms, government and banks only

D. households, firms, banks and foreign sector

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Correct Answer: Option A

Explanation:
A four-sector economy includes households, firms, government and the external sector.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Central Board of Indirect Taxes and Customs' administers:

A. corporate tax

B. GST, customs and indirect taxes

C. income tax

D. wealth tax

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Correct Answer: Option B

Explanation:
CBIC administers GST, customs and other indirect taxes.

This question belongs to: Economy GK Economy Set 1

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