The 'SFURTI' scheme is related to: MCQ with Answer and Explanation

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The 'SFURTI' scheme is related to:

A. traditional industries clusters

B. rural roads

C. urban housing

D. banking

Answer: Option A

Solution (By JKSSB Mock Tests)

SFURTI promotes cluster development of traditional industries.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'World Intellectual Property Organization' is a specialized agency of:

A. IMF

B. United Nations

C. World Bank

D. WTO

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Correct Answer: Option B

Explanation:
WIPO is a specialized agency of the United Nations.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a characteristic of the 'Lucas Critique'?

A. Econometric models based on past data may fail when policy regimes change because agents alter their behaviour

B. Policy evaluation based on historical correlations remains valid under policy changes

C. Rational expectations are irrelevant for policy

D. Only adaptive expectations matter

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Correct Answer: Option A

Explanation:
The Lucas Critique argues that the parameters of traditional econometric models are not policy-invariant because economic agents change their behaviour when policy rules change.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' on aerated drinks is:

A. 18%

B. 12%

C. 5%

D. 28% plus cess

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Correct Answer: Option D

Explanation:
Aerated drinks attract 28% GST plus compensation cess.

This question belongs to: Economy GK Economy Set 1

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