The 'Marine Products Export Development Authority' promotes exports of: MCQ with Answer and Explanation

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The 'Marine Products Export Development Authority' promotes exports of:

A. tea

B. coffee

C. fish and marine products

D. spices

Answer: Option C

Solution (By JKSSB Mock Tests)

MPEDA promotes exports of fish and marine products.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'industrial relations code' was passed in which year?

A. 2022

B. 2019

C. 2021

D. 2020

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Correct Answer: Option D

Explanation:
The Industrial Relations Code was passed in 2020.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is the correct sequence of stages in the business cycle?

A. Peak, Expansion, Trough, Contraction

B. Expansion, Peak, Contraction, Trough

C. Contraction, Expansion, Peak, Trough

D. Trough, Peak, Expansion, Contraction

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Correct Answer: Option B

Explanation:
The typical stages of a business cycle are expansion (recovery), peak (boom), contraction (recession) and trough (depression), and then the cycle repeats.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of economic theory, the 'Production Possibility Frontier' shifts outward when there is:

A. Unemployment of resources

B. Economic growth due to increase in resources or technology

C. Inefficient allocation of resources

D. Decrease in the labour force

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Correct Answer: Option B

Explanation:
An outward shift of the PPF indicates economic growth, which can result from an increase in the quantity or quality of resources or from technological progress.

This question belongs to: Economy GK Economy Set 1

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