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

Question
The 'Code on Wages' was passed in which year?
A. 2021
B. 2017
C. 2020
D. 2019
Answer: Option D
Solution (By JKSSB Mock Tests)
The Code on Wages was passed in 2019.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
Purchasing Power Parity theory states that exchange rates between currencies adjust to equalize:
A. inflation rates only
B. the purchasing power of currencies in terms of goods
C. interest rates
D. government budget deficits
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Correct Answer: Option B

Explanation:
Purchasing Power Parity says exchange rates adjust so that identical goods cost the same in different currencies.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'one rupee note' in India is issued by:
A. RBI
B. Ministry of Finance, Government of India
C. SEBI
D. SBI
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Correct Answer: Option B

Explanation:
The one rupee note is issued by the Government of India, not RBI.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of the 'Real Exchange Rate'?
A. It is the nominal exchange rate adjusted for relative price levels between countries
B. It is simply the nominal exchange rate
C. It is determined only by interest rates
D. It is independent of price levels
Discuss
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Correct Answer: Option A

Explanation:
The real exchange rate is defined as the nominal exchange rate multiplied by the ratio of foreign to domestic price levels (or the relative price of foreign to domestic goods).
This question belongs to: Economy GK Economy Set 1
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