The 'Production Linked Incentive' scheme aims to: MCQ with Answer and Explanation

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The 'Production Linked Incentive' scheme aims to:

A. boost domestic manufacturing by linking incentives to incremental output

B. increase imports

C. reduce production

D. promote imports

Answer: Option A

Solution (By JKSSB Mock Tests)

PLI schemes provide incentives to boost domestic manufacturing.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'money illusion' in economics occurs when people:

A. fully adjust for inflation

B. focus on nominal values rather than real values

C. only hold cash

D. avoid using money

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Correct Answer: Option B

Explanation:
Money illusion is the tendency to think of money in nominal rather than real terms.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on jewellery is:

A. 3%

B. 18%

C. 12%

D. 5%

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Correct Answer: Option A

Explanation:
Gold, silver and jewellery attract 3% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Wholesale Price Index' measures:

A. retail prices

B. prices of services

C. prices of consumer goods only

D. prices at the wholesale level

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Correct Answer: Option D

Explanation:
WPI measures price changes at the wholesale level.

This question belongs to: Economy GK Economy Set 1

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