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

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The 'Code on Wages' was passed in which year?

A. 2021

B. 2019

C. 2020

D. 2017

Answer: Option B

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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Question #1

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In the context of demand theory, the law of demand states that, ceteris paribus:

A. Price and supply are inversely related

B. Income and quantity demanded are inversely related

C. Price and quantity demanded are inversely related

D. Price and quantity demanded are positively related

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Correct Answer: Option C

Explanation:
The law of demand states that, other things remaining constant, the quantity demanded of a commodity falls when its price rises and rises when its price falls, indicating an inverse relationship between price and quantity demanded.

This question belongs to: Economy GK Economy Set 1

Question #2

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Non-Banking Financial Companies are regulated by:

A. SEBI

B. Reserve Bank of India

C. IRDA

D. Ministry of Finance

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Correct Answer: Option B

Explanation:
NBFCs are regulated by the Reserve Bank of India.

This question belongs to: Economy GK Economy Set 1

Question #3

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The Liquidity Adjustment Facility of the RBI includes:

A. Currency printing and open market operations

B. CRR and SLR

C. Repo and reverse repo

D. Bank rate and MSF

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Correct Answer: Option C

Explanation:
The Liquidity Adjustment Facility comprises repo and reverse repo operations.

This question belongs to: Economy GK Economy Set 1

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