FERA, replaced by FEMA, was enacted in: MCQ with Answer and Explanation

Question

Share Report Error

FERA, replaced by FEMA, was enacted in:

A. 1973

B. 1947

C. 1991

D. 1980

Answer: Option A

Solution (By JKSSB Mock Tests)

FERA was enacted in 1973 and replaced by FEMA in 1999.

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 'Goods and Services Tax' rate on newspapers is:

A. 0%

B. 12%

C. 18%

D. 5%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Newspapers are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Vote on Account' is used to:

A. impose new taxes

B. reduce fiscal deficit

C. present the full budget for the year

D. obtain Parliament's approval for expenditure for part of the financial year

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Vote on Account authorizes government expenditure for a limited period, usually before elections.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Terms of Trade' is defined as:

A. The volume of exports only

B. The ratio of import prices to export prices

C. The value of capital inflows

D. The ratio of export prices to import prices

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Terms of trade measure the relative prices of a country's exports to its imports, usually expressed as an index. An improvement means more imports can be obtained per unit of exports.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs