Economics (Part-III) (Railway)

Total Questions: 50

41. According to data from Centre for Monitoring the Indian Economy, which state has witnessed highest unemployment rate in January 2022? [RRB Group 'D' CBT Exam, 17.08.2022 (Shift-II)]

Correct Answer: (1) Haryana
Solution:According to the data from Centre for Monitoring Indian Economy (CMIE), Haryana witnessed the highest unemployment rate of 23.4% in January 2022.

• It was followed by Rajasthan (18.9%), Tripura (17.1%), Jammu & Kashmir (15%) and Delhi (14.1%).

42. In May 2022, which of the following State Chief Minister Basavaraj Bommai has launched a new health and wellness scheme app AAYU? [RRB Group D CBT Exam, 17.08.2022 (Shift-II)]

Correct Answer: (3) Karnataka
Solution:Karnataka Chief Minister Basavaraj Bommai on 29 May 2022 launched a new health and wellness app AAYU to address and help heal chronic diseases and lifestyle disorders through yoga and meditation.

• The app has been developed by Swami Vivekananda Yoga Anusandhana Samsthana (SVYASA) in partnership with RESET TECH.

• AAYU addresses the root cause of the diseases going beyond temporary care.

43. A cost incurred in the past and that cannot be recovered in the future is called________. [RRB Group 'D' CHT Exam, 17.08.2022 (Shift-III)]

Correct Answer: (4) sunk cost
Solution:Sunk costs are the costs which have been created by a decision that was made in the past and cannot be changed by any decisions that will be made in the future.

• A sunk cost cannot be recovered and are considered irrelevant for future decision making.

44. In February 2022, which state launched open-air classroom Paray Shikshalaya'? [RRB Group 'D' CBT Exam, 17.08.2022 (Shift-III)]

Correct Answer: (1) West Bengal
Solution:West Bengal government, in February 2022, launched an open-air classroom programme Paray Shikshalaya (Neighbourhood Schools) for primary and pre- primary students.

• Under the 'Paray Shikshalaya' project, primary and pre-primary students of government schools will be taught in open spaces.

• The state government will also provide midday meals to the students of 'Paray Shikshalaya'.

45. In which year was Steel Authority of India incorporated? [RRB Group 'D' CBT Exam, 17.08.2022 (Shift-III)]

Correct Answer: (4) 1973
Solution:Steel Authority of India Ltd was incorporated on 24 January 1973 with an authorised capital of Rs. 2000 crore.

• It was made responsible for managing five integrated steel plants at Bhilai, Bokaro, Durgapur, Rourkela and Burnpur, the Alloy Steel Plant and the Salem Steel Plant.

46. The rate of increase in exante consumption due to a unit increment in income is called________. [RRB Group 'D' CBT Exam, 18.08.2022 (Shift-II)]

Correct Answer: (1) marginal propensity to consume
Solution:Marginal propensity to consume is the rate of increase in ex ante consumption due to a unit increment in income.

• In other words, it is the change in consumption per unit change in income.

• The term and its formula are based on observations made by famed British economist John Maynard Keynes in the 1930s during the Great Depression.

47. As of January 2022, which country has become the world'stop exporter of cucumber? [RRB Group 'D' CBT Exam, 18.08.2022 (Shift-II)]

Correct Answer: (1) India
Solution:According to government data released on 23 January 2022, India has emerged as the largest exporter of cucumber in the world.

• India exported cucumber and gherkins to the tune of 1,23,846 Metric Tonnes with a value of USD 114 million during April-October 2021.

48. About 85% of the Indian population of colonial India depended on which of the following sector of the economy? [RRB Group D' CBT Exam, 18.08.2022 (Shift-II)]

Correct Answer: (4) Agriculture
Solution:India's economy under the British colonial rúle remained fundamentally agrarian.

• About 85 per cent of the country's population lived mostly in villages and derived livelihood directly or indirectly from agriculture.

• Agriculture and allied activities contributed nearly 50 percent to India's national income.

49. Which of the following is NOT a part of the 5 R's needed to be followed for sustainable development? [RRB Group D CBT Exam, 18.08.2022 (Shift-II)]

Correct Answer: (2) Regeneration
Solution:5R is a basic fundamental responsibility of human being to preserve nature for future and to achieve sustainable development. They are as follows:

•  Refuse: refuse what you don't need.

•  Reduce what you do need.

• Reuse, extend the useful life of the product.

• Repurpose to leave behind the unusable iteams and see what you can come up with to ensure they can still be effectively used.

• Recycle what you cannot refuse, reduce, or reuse.

50. As per NITI Aayog National Multidimensional Poverty Index 2021, which state is the poorest? [RRB Group 'D' CET Exam, 18.08.2022 (Shift-II)]

Correct Answer: (3) Bihar
Solution:According to the NITI Aayog's Multidimensional Poverty Index (MPI), released in November 2021, Bihar is the poorest state in the country with 51.91 percent of the population of the state being poor.

• Among the poorest states, Bihar is followed by Jharkhand (42.16%), Uttar Pradesh (37.79%), Madhya Pradesh (36.65%) and Meghalaya (32.67%).