The term 'Quantitative Restrictions' on imports refer to: MCQ with Answer and Explanation

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The term 'Quantitative Restrictions' on imports refer to:

A. Tariffs only

B. Exchange rate controls only

C. Export subsidies

D. Limits on the quantity or value of goods that can be imported

Answer: Option D

Solution (By JKSSB Mock Tests)

Quantitative restrictions (QRs) are non-tariff barriers that limit the volume or value of imports, such as quotas and licensing requirements.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'GDP deflator' is a price index that measures:

A. only wholesale prices

B. prices of all domestically produced final goods and services

C. only food prices

D. only consumer prices

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Correct Answer: Option B

Explanation:
GDP deflator measures the average price of all final goods and services produced domestically.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'President of India' can declare a financial emergency under which article?

A. Article 365

B. Article 356

C. Article 360

D. Article 352

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Correct Answer: Option C

Explanation:
Financial emergency is declared under Article 360.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Brown Revolution' is associated with:

A. leather and cocoa

B. food processing

C. coffee and cocoa production

D. fertilizer production

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Correct Answer: Option C

Explanation:
Brown Revolution is associated with coffee and cocoa production.

This question belongs to: Economy GK Economy Set 1

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