The slope of an isoquant is called the: MCQ with Answer and Explanation

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The slope of an isoquant is called the:

A. price ratio

B. marginal rate of substitution

C. marginal utility ratio

D. marginal rate of technical substitution

Answer: Option D

Solution (By JKSSB Mock Tests)

The slope of an isoquant is the marginal rate of technical substitution, the rate at which one input can substitute for another keeping output constant.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' is often described as a game-changing reform because it:

A. increased direct tax

B. increased many taxes

C. unified the Indian market and simplified indirect taxes

D. removed all taxes

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Correct Answer: Option C

Explanation:
GST unified the Indian market and simplified indirect taxation.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Export-Import Bank of India' was established in which year?

A. 1995

B. 1982

C. 1990

D. 1980

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Correct Answer: Option B

Explanation:
EXIM Bank was established in 1982.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Pradhan Mantri Ujjwala Yojana' was launched by which ministry?

A. Ministry of Women and Child Development

B. Ministry of Rural Development

C. Ministry of Petroleum and Natural Gas

D. Ministry of Health

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Correct Answer: Option C

Explanation:
PMUY is implemented by the Ministry of Petroleum and Natural Gas.

This question belongs to: Economy GK Economy Set 1

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