The 'PM Formalization of Micro Food Processing Enterprises' scheme is associated with which sector? MCQ with Answer and Explanation

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The 'PM Formalization of Micro Food Processing Enterprises' scheme is associated with which sector?

A. Textiles

B. Steel

C. Food processing

D. IT services

Answer: Option C

Solution (By JKSSB Mock Tests)

PM FME scheme supports micro food processing enterprises.

This question belongs to: Economy GK Economy Set 1

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Question #1

Microfinance institutions primarily provide:

A. small collateral-free loans to low-income households

B. export finance

C. infrastructure finance

D. large corporate loans

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Correct Answer: Option A

Explanation:
Microfinance institutions provide small collateral-free loans to low-income clients.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Hysteresis' in unemployment refers to:

A. Temporary unemployment that disappears quickly

B. The tendency of unemployment to persist even after the original cause has disappeared

C. Only frictional unemployment

D. Only seasonal unemployment

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Correct Answer: Option B

Explanation:
Hysteresis in unemployment means that high unemployment can become self-perpetuating through loss of skills, reduced employability or changes in wage-setting behaviour, so that the natural rate itself rises.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' Council chairperson is:

A. Prime Minister

B. Union Finance Minister

C. President

D. RBI Governor

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Correct Answer: Option B

Explanation:
GST Council is chaired by the Union Finance Minister.

This question belongs to: Economy GK Economy Set 1

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