The 'Red Revolution' in India is associated with: MCQ with Answer and Explanation

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The 'Red Revolution' in India is associated with:

A. sugarcane

B. wheat

C. meat and tomato production

D. rice

Answer: Option C

Solution (By JKSSB Mock Tests)

The Red Revolution is associated with meat and tomato production.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Purchasing Power Parity' helps in:

A. Determining only nominal exchange rates

B. Measuring only unemployment

C. Calculating domestic fiscal deficit

D. Comparing real income and living standards across countries

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Correct Answer: Option D

Explanation:
PPP-based comparisons adjust for differences in price levels across countries, providing a better measure of real income and relative living standards.

This question belongs to: Economy GK Economy Set 1

Question #2

Monetization of deficit refers to:

A. government selling securities to banks and public

B. increasing foreign aid

C. RBI directly purchasing government securities, increasing money supply

D. reducing fiscal deficit

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Correct Answer: Option C

Explanation:
Monetization of deficit occurs when the central bank directly purchases government securities, creating money.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on tractors is:

A. 5%

B. 12%

C. 18%

D. 28%

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Correct Answer: Option B

Explanation:
Tractors attract 12% GST.

This question belongs to: Economy GK Economy Set 1

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