The 'Ministry of Statistics and Programme Implementation' is responsible for: MCQ with Answer and Explanation

The 'Ministry of Statistics and Programme Implementation' is responsible for:
A. monetary policy
B. official statistics and programme implementation
C. banking regulation
D. foreign trade
Answer: Option B
Solution (By JKSSB Mock Tests)
MoSPI handles official statistics and programme implementation.

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Practice More Economy Set 1 Questions

Question #1
In a liquidity adjustment facility, the reverse repo rate is typically how much below the repo rate?
A. 1.00 percentage point
B. 2.00 percentage points
C. 0.50 percentage points
D. 0.25 percentage points

Correct Answer: Option C


Explanation:
The reverse repo rate is usually 0.50 percentage points below the repo rate, though the actual gap may vary.

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a tool to measure income inequality?
A. Engel Curve
B. Lorenz Curve
C. Laffer Curve
D. Phillips Curve

Correct Answer: Option B


Explanation:
The Lorenz Curve plots the cumulative percentage of income against the cumulative percentage of population and is used to measure income inequality (along with the Gini coefficient).

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of the 'Modern Supply-Side Economics' emphasis?
A. Tax incentives and structural reforms to raise potential output and improve incentives to work, save and invest
B. Only demand management through fiscal expansion
C. Complete neglect of incentives
D. Only monetary expansion

Correct Answer: Option A


Explanation:
Supply-side approaches stress policies that expand the productive capacity of the economy by improving incentives, reducing distortions and raising the efficiency of resource allocation.

This question belongs to: Economy GK Economy Set 1