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

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The 'Central Vigilance Commission' is a:

A. constitutional body

B. judicial body

C. private body

D. statutory body

Answer: Option D

Solution (By JKSSB Mock Tests)

The Central Vigilance Commission is a statutory body.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'International Poverty Line' of the World Bank is currently set at:

A. USD 5.50 per day

B. USD 2.15 per day in 2017 PPP

C. USD 10 per day

D. USD 1.00 per day

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Correct Answer: Option B

Explanation:
The World Bank's international poverty line is USD 2.15 per day in 2017 PPP.

This question belongs to: Economy GK Economy Set 1

Question #2

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In the context of international economics, the 'Balassa-Samuelson Effect' explains:

A. Why real exchange rates tend to be higher in richer countries

B. Why capital flows only from rich to poor countries

C. Why tariffs are always beneficial

D. Why poorer countries always have trade surpluses

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Correct Answer: Option A

Explanation:
The Balassa-Samuelson effect argues that productivity growth in the tradable sector raises wages economy-wide, increasing the relative price of non-tradables and leading to real appreciation in richer countries.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' rate on newspapers is:

A. 0%

B. 5%

C. 18%

D. 12%

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Correct Answer: Option A

Explanation:
Newspapers are exempt from GST.

This question belongs to: Economy GK Economy Set 1

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