The 'Mid-Day Meal Scheme' is now known as: MCQ with Answer and Explanation

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The 'Mid-Day Meal Scheme' is now known as:

A. PM KISAN

B. PM JAN DHAN

C. PM POSHAN

D. PM AWAAS

Answer: Option C

Solution (By JKSSB Mock Tests)

Mid-Day Meal Scheme has been renamed PM POSHAN.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the production possibility frontier, a point inside the curve indicates:

A. Efficient utilisation of resources

B. Technological progress

C. Unattainable combination

D. Underutilisation of resources

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Correct Answer: Option D

Explanation:
Any point inside the PPF represents underutilisation or inefficient use of resources. Points on the curve are efficient and points outside are unattainable with current resources.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a characteristic of the 'New Keynesian' Phillips Curve?

A. It denies any role for demand factors

B. It incorporates forward-looking expectations and sticky prices

C. It is based on adaptive expectations only

D. It assumes continuous market clearing

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Correct Answer: Option B

Explanation:
The New Keynesian Phillips Curve is derived from models with staggered price setting and rational expectations, linking current inflation to expected future inflation and the output gap or marginal cost.

This question belongs to: Economy GK Economy Set 1