In the context of digital regulation, the 'DMA' (Digital Markets Act) of the European Union aims to: MCQ with Answer and Explanation

In the context of digital regulation, the 'DMA' (Digital Markets Act) of the European Union aims to:
A. Deregulate all digital platforms
B. Only regulate small start-ups
C. Impose ex-ante obligations on designated gatekeeper platforms to ensure contestable and fair digital markets
D. Only apply ex-post competition law without any specific rules
Answer: Option C
Solution (By JKSSB Mock Tests)
The Digital Markets Act establishes a set of dos and don’ts for large gatekeeper platforms, aiming to prevent unfair practices and to keep digital markets contestable and fair through ex-ante regulation.

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Practice More Economy Set 1 Questions

Question #1
The 'Reserve Bank of India' was nationalized on:
A. 1 January 1947
B. 1 January 1949
C. 15 August 1947
D. 26 January 1950

Correct Answer: Option B


Explanation:
The RBI was nationalized on 1 January 1949.

This question belongs to: Economy GK Economy Set 1
Question #2
Advance tax is income tax that is:
A. paid only by companies
B. paid in advance in instalments during the financial year
C. paid after the end of the financial year
D. refunded by the government

Correct Answer: Option B


Explanation:
Advance tax is paid in advance in instalments during the financial year instead of a lump sum at the end.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'ASEAN' grouping has how many member countries?
A. 12
B. 10
C. 8
D. 14

Correct Answer: Option B


Explanation:
ASEAN has 10 member countries.

This question belongs to: Economy GK Economy Set 1