The 'Code on Social Security' was passed in which year? MCQ with Answer and Explanation

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The 'Code on Social Security' was passed in which year?

A. 2021

B. 2022

C. 2020

D. 2019

Answer: Option C

Solution (By JKSSB Mock Tests)

The Code on Social Security was passed in 2020.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Reserve Bank of India' transfers its surplus profit to:

A. Government of India

B. banks

C. state governments

D. SEBI

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Correct Answer: Option A

Explanation:
The RBI transfers its surplus profit to the Government of India.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the 'Save More Tomorrow' programme designed by Thaler and Benartzi?

A. A commitment device that allows employees to pre-commit to allocating a portion of future salary increases to retirement savings

B. A mandatory increase in taxes

C. An immediate large increase in current contributions

D. A programme that ignores behavioural biases

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Correct Answer: Option A

Explanation:
Save More Tomorrow is a behavioural intervention that invites employees to commit in advance to increasing their retirement contribution rates whenever they receive pay raises, thereby overcoming present bias and inertia.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Child and Adolescent Labour (Prohibition and Regulation) Act' was amended in which year?

A. 2018

B. 2010

C. 2020

D. 2016

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Correct Answer: Option D

Explanation:
The Child Labour Act was amended in 2016.

This question belongs to: Economy GK Economy Set 1

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