The 'One District One Product' initiative aims to promote: MCQ with Answer and Explanation

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The 'One District One Product' initiative aims to promote:

A. uniform industrial policy

B. district-specific products and exports

C. uniform education

D. single tax rate

Answer: Option B

Solution (By JKSSB Mock Tests)

One District One Product promotes production of unique products in each district for economic development and exports.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on veterinary services is:

A. 0%

B. 18%

C. exempt

D. 5%

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Correct Answer: Option C

Explanation:
Veterinary services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of international macroeconomics, the 'Twin Deficits' hypothesis links:

A. Only the revenue deficit and the primary deficit

B. Only the trade deficit and the capital-account surplus

C. The fiscal deficit and the current-account deficit

D. Only domestic saving and investment

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Correct Answer: Option C

Explanation:
The twin-deficits hypothesis posits a positive relationship between the government budget deficit and the current-account deficit, arising from the national accounting identity linking private saving, investment and the twin deficits.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'per capita income' is calculated by dividing national income by:

A. working population

B. labour force

C. total population

D. number of households

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Correct Answer: Option C

Explanation:
Per capita income is national income divided by total population.

This question belongs to: Economy GK Economy Set 1

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