The 'National Income' estimates in India are published with a base year of: MCQ with Answer and Explanation

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

A. 2011-12

B. 2016-17

C. 2020-21

D. 2004-05

Answer: Option A

Solution (By JKSSB Mock Tests)

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

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a feature of 'Nudge' theory in behavioural public policy?

A. The complete rejection of any behavioural interventions

B. Only financial incentives

C. The use of mandates and bans only

D. The use of choice architecture to steer people toward better decisions without restricting their freedom of choice

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Correct Answer: Option D

Explanation:
A nudge is any aspect of choice architecture that alters people’s behaviour in a predictable way without forbidding any options or significantly changing economic incentives, as popularised by Thaler and Sunstein.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Economic Rent' in classical economics refers to:

A. Payment for the use of land arising from its scarcity

B. Wages of labour

C. Profit of the entrepreneur

D. Payment for the use of capital only

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Correct Answer: Option A

Explanation:
In classical economics, economic rent is the payment made for the use of land (or other resources in fixed supply) that arises due to its scarcity and differential fertility.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Universal Immunization Programme' aims to protect children against:

A. vaccine-preventable diseases including polio, measles, tuberculosis and others

B. only COVID-19

C. only smallpox

D. only polio

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Correct Answer: Option A

Explanation:
Universal Immunization Programme protects children against multiple vaccine-preventable diseases.

This question belongs to: Economy GK Economy Set 1

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