In 1969, the Government of India nationalized how many major commercial banks? MCQ with Answer and Explanation

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In 1969, the Government of India nationalized how many major commercial banks?

A. 6

B. 20

C. 14

D. 10

Answer: Option C

Solution (By JKSSB Mock Tests)

In 1969, 14 major commercial banks were nationalized.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

In the context of production, the stage of diminishing returns begins when:

A. Total product is maximum

B. Marginal product starts declining

C. Average product is zero

D. Marginal product is negative

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Correct Answer: Option B

Explanation:
The stage of diminishing returns starts when the marginal product of the variable factor begins to decline, although it may still be positive.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'National Bank for Agriculture and Rural Development' was established in which year?

A. 1991

B. 1982

C. 1975

D. 1969

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Correct Answer: Option B

Explanation:
NABARD was established in 1982.

This question belongs to: Economy GK Economy Set 1

Question #3

For an inferior good, the income effect of a price fall:

A. increases quantity demanded

B. always equals the substitution effect

C. does not affect quantity demanded

D. decreases quantity demanded

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Correct Answer: Option D

Explanation:
For an inferior good, a price fall raises real income, and the income effect causes the consumer to buy less of the good.

This question belongs to: Economy GK Economy Set 1

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