The 'Laffer curve' was popularized by which economist? MCQ with Answer and Explanation

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The 'Laffer curve' was popularized by which economist?

A. John Maynard Keynes

B. Milton Friedman

C. Arthur Laffer

D. Paul Samuelson

Answer: Option C

Solution (By JKSSB Mock Tests)

The Laffer curve was popularized by Arthur Laffer.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on tractors is:

A. 28%

B. 12%

C. 18%

D. 5%

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Correct Answer: Option B

Explanation:
Tractors attract 12% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The immediate cause of the 1991 economic crisis in India was:

A. industrial stagnation

B. a balance of payments crisis

C. a severe drought

D. fall in agricultural production

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Correct Answer: Option B

Explanation:
The 1991 economic crisis was triggered by a severe balance of payments crisis.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'National Pension System' is open to citizens in the age group of:

A. 18-50 years

B. 18-70 years

C. 18-60 years

D. 21-65 years

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Correct Answer: Option B

Explanation:
NPS is open to citizens aged 18 to 70.

This question belongs to: Economy GK Economy Set 1

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