Which of the following is NOT a component of the Index of Industrial Production (IIP) in India? MCQ with Answer and Explanation

Question

Share Report Error

Which of the following is NOT a component of the Index of Industrial Production (IIP) in India?

A. Electricity

B. Mining

C. Agriculture

D. Manufacturing

Answer: Option C

Solution (By JKSSB Mock Tests)

The IIP covers mining, manufacturing and electricity sectors. Agriculture is measured separately through other indices and production estimates.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The 'Smithsonian Agreement' of 1971 attempted to:

A. ban currency trading

B. realign fixed exchange rates after the collapse of the dollar-gold link

C. abolish the IMF

D. create the euro

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
The Smithsonian Agreement attempted to establish new fixed exchange rate parities after the dollar-gold link ended.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a characteristic of a closed economy?

A. High volume of exports and imports

B. Free capital flows

C. Membership of WTO only

D. No foreign trade

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
A closed economy does not engage in international trade or capital flows. It is self-sufficient and isolated from the rest of the world.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of financial markets, 'Adverse Selection' before a loan is made refers to:

A. Only the problem of monitoring after the loan

B. Lenders always having perfect information

C. Borrowers with higher risk being more likely to seek loans

D. Borrowers becoming riskier after receiving loans

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Adverse selection in credit markets occurs when higher-risk borrowers are more eager to borrow at any given interest rate, so that the pool of applicants becomes riskier as the interest rate rises.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs