The 'Saubhagya' scheme aims to provide: MCQ with Answer and Explanation

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The 'Saubhagya' scheme aims to provide:

A. water connections

B. electricity connections to all households

C. gas connections

D. bank accounts

Answer: Option B

Solution (By JKSSB Mock Tests)

Saubhagya aims to provide universal household electricity access.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of economic growth, the Solow residual measures:

A. Contribution of capital accumulation only

B. Contribution of technological progress (total factor productivity)

C. Contribution of natural resources only

D. Contribution of labour force growth only

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Correct Answer: Option B

Explanation:
The Solow residual is the portion of output growth that cannot be explained by the growth of capital and labour inputs; it is attributed to technological progress or total factor productivity.

This question belongs to: Economy GK Economy Set 1

Question #2

Crowding out occurs when:

A. taxes are reduced

B. private investment reduces government spending

C. government borrowing reduces private investment

D. government expenditure increases private investment

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Correct Answer: Option C

Explanation:
Crowding out occurs when increased government borrowing raises interest rates and reduces private investment.

This question belongs to: Economy GK Economy Set 1

Question #3

Green GDP is an indicator that adjusts GDP for:

A. inflation

B. population growth

C. foreign debt

D. environmental degradation and natural resource depletion

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Correct Answer: Option D

Explanation:
Green GDP adjusts conventional GDP for environmental degradation and natural resource depletion.

This question belongs to: Economy GK Economy Set 1

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