The 'NITI Aayog' full form is: MCQ with Answer and Explanation

Question
The 'NITI Aayog' full form is:
A. National Institute for Transforming India
B. National Initiative for Trade and Industry
C. National Integrated Transport Institute
D. National Institution for Transforming India
Answer: Option D
Solution (By JKSSB Mock Tests)
NITI stands for National Institution for Transforming India.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The 'managed float' exchange rate system means the exchange rate is:
A. set by the IMF
B. completely fixed
C. not applicable
D. determined by market forces with possible central bank intervention
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Correct Answer: Option D

Explanation:
Managed float allows market determination with occasional central bank intervention.
This question belongs to: Economy GK Economy Set 1
Question #2
Tax elasticity measures the automatic response of tax revenue to changes in GDP:
A. without considering discretionary tax changes
B. considering only indirect taxes
C. considering only direct taxes
D. after discretionary tax changes
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Correct Answer: Option A

Explanation:
Tax elasticity measures the built-in response of tax revenue to GDP changes without discretionary changes.
This question belongs to: Economy GK Economy Set 1
Question #3
In the IS-LM framework, an increase in government expenditure shifts the:
A. IS curve to the right
B. LM curve to the left
C. IS curve to the left
D. LM curve to the right
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Correct Answer: Option A

Explanation:
An increase in government spending raises aggregate demand, shifting the IS curve to the right, leading to higher income and interest rates in the short run.
This question belongs to: Economy GK Economy Set 1
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