The 'National Mission on Food Processing' is implemented by the Ministry of: MCQ with Answer and Explanation

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The 'National Mission on Food Processing' is implemented by the Ministry of:

A. Food Processing Industries

B. Consumer Affairs

C. Agriculture

D. Health

Answer: Option A

Solution (By JKSSB Mock Tests)

The National Mission on Food Processing is implemented by the Ministry of Food Processing Industries.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the Cobb-Douglas production function Q = A L^α K^β, if α + β = 1, the production function exhibits:

A. negative returns

B. decreasing returns to scale

C. increasing returns to scale

D. constant returns to scale

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Correct Answer: Option D

Explanation:
If α + β = 1, the Cobb-Douglas production function exhibits constant returns to scale.

This question belongs to: Economy GK Economy Set 1

Question #2

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The concept of 'Fiscal Dominance' refers to:

A. Only the dominance of monetary policy

B. The absence of any deficit

C. Complete independence of the central bank

D. A situation in which fiscal policy constraints force the monetary authority to monetise deficits

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Correct Answer: Option D

Explanation:
Fiscal dominance occurs when the fiscal authority’s need to finance deficits constrains or dictates the behaviour of the monetary authority, often leading to inflationary monetisation.

This question belongs to: Economy GK Economy Set 1

Question #3

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The index used to measure the performance of core sector industries in India is:

A. Consumer Price Index

B. Purchasing Managers' Index

C. Wholesale Price Index

D. Index of Industrial Production

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Correct Answer: Option D

Explanation:
The Index of Industrial Production measures the performance of core sector industries.

This question belongs to: Economy GK Economy Set 1

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