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. saving and capital-output ratio

B. natural resources

C. technological progress

D. population growth

Answer: Option A

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

In the context of trade policy, 'Import Substitution' strategy aims at:

A. Replacing imports with domestic production through protection

B. Only reducing tariffs

C. Complete free trade

D. Promoting exports through subsidies

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Correct Answer: Option A

Explanation:
Import substitution industrialisation seeks to reduce dependence on imports by protecting and promoting domestic industries through tariffs, quotas and other measures.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on transport of passengers by rail is:

A. 0%

B. exempt for general class and 5% for AC classes

C. 18%

D. 12%

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Correct Answer: Option B

Explanation:
Rail passenger transport is exempt for general class and 5% for AC classes.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Employees' State Insurance Act' applies to factories employing how many or more persons?

A. 10

B. 5

C. 50

D. 20

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Correct Answer: Option A

Explanation:
ESI Act applies to factories employing 10 or more persons, with some state variations.

This question belongs to: Economy GK Economy Set 1

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