The 'Central Vigilance Commission' is a: MCQ with Answer and Explanation

The 'Central Vigilance Commission' is a:
A. judicial body
B. constitutional body
C. statutory body
D. private body
Answer: Option C
Solution (By JKSSB Mock Tests)
The Central Vigilance Commission is a statutory body.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a feature of the 'Second-Generation' models of currency crises?
A. Crises can be self-fulfilling and depend on the government’s trade-off between the benefits of maintaining the peg and the costs of doing so
B. Crises never involve multiple equilibria
C. Crises are caused only by inconsistent fiscal policy
D. Only current-account deficits matter

Correct Answer: Option A


Explanation:
Second-generation models emphasise that the decision to abandon a peg depends on policy trade-offs; expectations of devaluation can themselves raise the cost of defending the peg, generating self-fulfilling crises and multiple equilibria.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Index of Industrial Production' covers which sectors?
A. Agriculture and forestry
B. Only manufacturing
C. Mining, manufacturing and electricity
D. Services

Correct Answer: Option C


Explanation:
IIP covers mining, manufacturing and electricity.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is NOT a function of the Reserve Bank of India?
A. Controlling credit
B. Acting as banker to the government
C. Issuing currency notes
D. Formulating fiscal policy

Correct Answer: Option D


Explanation:
Fiscal policy is formulated by the government (Ministry of Finance). RBI is responsible for monetary policy, currency issue, banker to government and credit control.

This question belongs to: Economy GK Economy Set 1