The 'literacy rate' in the Indian census is defined for persons aged: MCQ with Answer and Explanation

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The 'literacy rate' in the Indian census is defined for persons aged:

A. 0-6 years

B. 15-35 years

C. 7 years and above

D. 18-60 years

Answer: Option C

Solution (By JKSSB Mock Tests)

The literacy rate is calculated for the population aged 7 years and above.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a measure of absolute poverty?

A. Gini coefficient

B. Lorenz curve

C. Relative income share of bottom 40%

D. Poverty line based on calorie intake or income

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Correct Answer: Option D

Explanation:
Absolute poverty is measured with reference to a fixed poverty line based on minimum calorie requirements or income needed to meet basic needs. Gini and Lorenz measure inequality (relative poverty aspects).

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Emergency Credit Line Guarantee Scheme' was launched to help MSMEs during:

A. demonetization

B. drought

C. COVID-19 pandemic

D. flood

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Correct Answer: Option C

Explanation:
ECLGS was launched during the COVID-19 pandemic to provide credit to MSMEs.

This question belongs to: Economy GK Economy Set 1

Question #3

If the reserve ratio is 10%, the simple deposit/money multiplier is:

A. 10

B. 20

C. 100

D. 5

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Correct Answer: Option A

Explanation:
Money multiplier = 1/reserve ratio = 1/0.10 = 10.

This question belongs to: Economy GK Economy Set 1

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