The 'supply-side economics' emphasizes which policies? MCQ with Answer and Explanation

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The 'supply-side economics' emphasizes which policies?

A. increasing money supply

B. raising taxes

C. reducing tax rates and regulation to increase output

D. increasing aggregate demand

Answer: Option C

Solution (By JKSSB Mock Tests)

Supply-side economics emphasizes lower taxes and reduced regulation to stimulate production.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on actionable claims such as lottery, betting and gambling is:

A. 28%

B. 12%

C. 18%

D. 5%

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Correct Answer: Option A

Explanation:
Actionable claims like lottery, betting and gambling attract 28% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Deadweight Loss' arises due to:

A. Perfect competition

B. Market distortions such as taxes, subsidies or monopolies

C. Free trade

D. Efficient resource allocation

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Correct Answer: Option B

Explanation:
Deadweight loss is the loss of economic efficiency that occurs when the equilibrium quantity is not achieved due to market imperfections or government interventions.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Interim Budget' is presented when:

A. there is a financial emergency

B. elections are near or the government is in transition

C. the government has full term

D. there is a war

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Correct Answer: Option B

Explanation:
An interim budget is presented before elections or a transition period.

This question belongs to: Economy GK Economy Set 1

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