The 'SWAYAM' platform is related to: MCQ with Answer and Explanation

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The 'SWAYAM' platform is related to:

A. online banking

B. tax filing

C. online courses and MOOCs

D. stock trading

Answer: Option C

Solution (By JKSSB Mock Tests)

SWAYAM is an online platform offering MOOCs.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Selling costs are a distinguishing feature of which market structure?

A. Pure competition

B. Perfect competition

C. Monopoly

D. Monopolistic competition

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Correct Answer: Option D

Explanation:
Firms in monopolistic competition incur selling costs to differentiate their products and attract customers.

This question belongs to: Economy GK Economy Set 1

Question #2

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In the context of the Phillips Curve, the long-run Phillips Curve is:

A. Horizontal

B. Downward sloping

C. Vertical at the natural rate of unemployment

D. Upward sloping

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Correct Answer: Option C

Explanation:
In the long run, the Phillips Curve is vertical at the natural rate of unemployment, indicating no permanent trade-off between inflation and unemployment.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Kuznets curve' hypothesizes that income inequality:

A. rises continuously with growth

B. is unrelated to growth

C. falls continuously with growth

D. first rises then falls with economic development

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Correct Answer: Option D

Explanation:
The Kuznets curve suggests inequality first increases and later decreases as an economy develops.

This question belongs to: Economy GK Economy Set 1

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