The Minimum Support Price is announced by the government on the recommendation of: MCQ with Answer and Explanation

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The Minimum Support Price is announced by the government on the recommendation of:

A. NABARD

B. Commission for Agricultural Costs and Prices

C. Food Corporation of India

D. RBI

Answer: Option B

Solution (By JKSSB Mock Tests)

MSP is recommended by the Commission for Agricultural Costs and Prices and announced by the government.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'National Income' estimates in India are published with a base year of:

A. 2004-05

B. 2016-17

C. 2020-21

D. 2011-12

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Correct Answer: Option D

Explanation:
The national accounts series uses 2011-12 as the base year.

This question belongs to: Economy GK Economy Set 1

Question #2

The Human Development Index is published by:

A. IMF

B. WTO

C. World Bank

D. UNDP

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Correct Answer: Option D

Explanation:
The Human Development Index is published by the United Nations Development Programme.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is NOT a characteristic of developing countries?

A. High population growth rate

B. Dependence on primary sector

C. Low per capita income

D. High rate of capital formation

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Correct Answer: Option D

Explanation:
Developing countries typically have low rates of capital formation. High capital formation is a feature of developed economies.

This question belongs to: Economy GK Economy Set 1

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