The 'Smart Cities Mission' was launched in which year? MCQ with Answer and Explanation

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The 'Smart Cities Mission' was launched in which year?

A. 2016

B. 2014

C. 2017

D. 2015

Answer: Option D

Solution (By JKSSB Mock Tests)

The Smart Cities Mission was launched in 2015.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a major structural challenge for the Indian economy?

A. Complete equality of income across regions

B. Absence of an informal sector

C. Regional disparities, unemployment and informalisation of the workforce

D. Self-sufficiency in all commodities without trade

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Correct Answer: Option C

Explanation:
The Indian economy continues to face structural challenges such as regional imbalances, unemployment and underemployment, and a large informal sector.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Food Safety and Standards Authority of India' works under which ministry?

A. Ministry of Agriculture

B. Ministry of Commerce

C. Ministry of Food Processing Industries

D. Ministry of Health and Family Welfare

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Correct Answer: Option D

Explanation:
FSSAI functions under the Ministry of Health and Family Welfare.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a characteristic of the 'Natural Rate Hypothesis'?

A. Only adaptive expectations are assumed

B. Monetary policy can permanently reduce unemployment below the natural rate

C. In the long run, unemployment returns to its natural rate regardless of the inflation rate

D. There is a permanent trade-off between inflation and unemployment

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Correct Answer: Option C

Explanation:
The natural rate hypothesis, associated with Friedman and Phelps, states that in the long run the economy returns to the natural rate of unemployment and there is no permanent trade-off with inflation.

This question belongs to: Economy GK Economy Set 1

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