The 'Pradhan Mantri Shram Yogi Maandhan' is a pension scheme for unorganized workers with monthly contribution of: MCQ with Answer and Explanation

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The 'Pradhan Mantri Shram Yogi Maandhan' is a pension scheme for unorganized workers with monthly contribution of:

A. Rs 200 to Rs 1,000

B. Rs 55 to Rs 200

C. Rs 50 to Rs 100

D. Rs 100 to Rs 500

Answer: Option B

Solution (By JKSSB Mock Tests)

PM-SYM contribution ranges from Rs 55 to Rs 200 depending on age.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a component of Gross National Product?

A. GDP plus net factor income from abroad

B. NDP plus depreciation

C. GDP minus depreciation

D. GDP minus net factor income from abroad

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Correct Answer: Option A

Explanation:
GNP = GDP + Net factor income from abroad. Net factor income from abroad is the difference between factor income received from abroad and factor income paid to abroad.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Yellow Revolution' in India is associated with:

A. oilseeds production

B. sugarcane

C. horticulture

D. pulses production

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Correct Answer: Option A

Explanation:
Yellow Revolution is associated with increased production of oilseeds.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a characteristic of 'Overconfidence' as a behavioural bias?

A. The tendency of individuals to overestimate their own knowledge, abilities or the precision of their information

B. The tendency to underestimate one’s own abilities

C. Only the absence of any self-assessment

D. Perfectly calibrated confidence intervals

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Correct Answer: Option A

Explanation:
Overconfidence manifests as excessive confidence in one’s own judgments, over-precision in probability estimates, or the better-than-average effect, and can lead to excessive trading and other suboptimal decisions.

This question belongs to: Economy GK Economy Set 1

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