Which of the following is a feature of the Indian external sector since the 1990s? MCQ with Answer and Explanation

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Which of the following is a feature of the Indian external sector since the 1990s?

A. Gradual liberalisation of trade and capital account with managed float

B. Complete isolation from global capital flows

C. Ban on foreign direct investment

D. Fixed exchange rate without intervention

Answer: Option A

Solution (By JKSSB Mock Tests)

Since the 1991 reforms, India has progressively liberalised trade and capital flows while adopting a managed floating exchange rate regime.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'average propensity to save' is calculated as:

A. saving divided by income

B. consumption divided by income

C. change in saving divided by change in income

D. income divided by saving

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Correct Answer: Option A

Explanation:
APS is total saving divided by total income.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'demonstration effect' in consumption means:

A. people consume only basic goods

B. people copy the consumption patterns of others

C. people reduce consumption

D. people save more

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Correct Answer: Option B

Explanation:
The demonstration effect is the tendency to imitate the consumption patterns of others.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on precious stones is:

A. 12%

B. 5%

C. 0.25%

D. 3%

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Correct Answer: Option C

Explanation:
Precious stones attract 0.25% GST.

This question belongs to: Economy GK Economy Set 1

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