The term inclusive growth refers to economic growth that: MCQ with Answer and Explanation

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The term inclusive growth refers to economic growth that:

A. focuses only on manufacturing

B. benefits all sections of society and reduces inequality

C. ignores employment

D. benefits only the rich

Answer: Option B

Solution (By JKSSB Mock Tests)

Inclusive growth ensures that the benefits of growth are widely shared and inequality is reduced.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'National Income' estimates in India are published with a base year of:

A. 2016-17

B. 2020-21

C. 2011-12

D. 2004-05

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Correct Answer: Option C

Explanation:
The national accounts series uses 2011-12 as the base year.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'GST' has helped in creating a unified national market by:

A. increasing check posts

B. removing cascading taxes and multiple state-level barriers

C. increasing entry taxes

D. raising state VAT rates

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Correct Answer: Option B

Explanation:
GST removed cascading taxes and state barriers, creating a unified market.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is NOT a component of Current Account in the Balance of Payments?

A. Trade in services

B. Trade in goods

C. Foreign direct investment

D. Unilateral transfers

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Correct Answer: Option C

Explanation:
Foreign direct investment is a component of the Capital Account. Current Account includes merchandise trade, invisibles (services), and unilateral transfers.

This question belongs to: Economy GK Economy Set 1

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