The 'MUDRA' loans are extended to: MCQ with Answer and Explanation

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The 'MUDRA' loans are extended to:

A. multinational corporations

B. large industries

C. state governments

D. micro and small enterprises

Answer: Option D

Solution (By JKSSB Mock Tests)

MUDRA provides loans to micro and small enterprises.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the Keynesian framework, the paradox of thrift states that:

A. Saving always equals investment automatically

B. An increase in saving by all individuals leads to higher aggregate saving and income

C. Thrift is always beneficial for economic growth

D. An increase in saving by all individuals may lead to a fall in aggregate income and saving

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Correct Answer: Option D

Explanation:
The paradox of thrift argues that if everyone tries to save more during a recession, aggregate demand falls, leading to lower income and ultimately lower total saving.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Essential Commodities (Amendment) Act, 2020' deregulated which commodities?

A. Medicines

B. Petroleum and diesel

C. Cereals, pulses, oilseeds, edible oils and onion

D. Fertilizers

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Correct Answer: Option C

Explanation:
The 2020 amendment removed cereals, pulses, oilseeds, edible oils and onion from the Essential Commodities Act.

This question belongs to: Economy GK Economy Set 1

Question #3

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In the context of monetary policy frameworks, 'Average Inflation Targeting' involves:

A. Ignoring past inflation outcomes completely

B. Targeting only the current inflation rate

C. Only targeting the price level

D. Targeting an average inflation rate over a multi-year period, allowing temporary overshoots to make up for past undershoots

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Correct Answer: Option D

Explanation:
Average inflation targeting commits the central bank to achieve an average inflation rate over a longer period, so that periods of below-target inflation are followed by periods of above-target inflation (and vice versa).

This question belongs to: Economy GK Economy Set 1

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