The 'Coinage Act' in India is administered by: MCQ with Answer and Explanation

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The 'Coinage Act' in India is administered by:

A. SBI

B. SEBI

C. Government of India

D. RBI

Answer: Option C

Solution (By JKSSB Mock Tests)

Coins are issued by the Government of India under the Coinage Act.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'UDAY' scheme for power distribution companies was launched in:

A. 2014

B. 2017

C. 2016

D. 2015

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Correct Answer: Option D

Explanation:
UDAY was launched in 2015.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Laffer curve' was popularized by which economist?

A. Paul Samuelson

B. Milton Friedman

C. Arthur Laffer

D. John Maynard Keynes

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Correct Answer: Option C

Explanation:
The Laffer curve was popularized by Arthur Laffer.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'income effect' of a price rise in a normal good leads to:

A. increased purchase of the good

B. no change in purchase

C. decreased purchase of the good

D. purchase of inferior goods only

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Correct Answer: Option C

Explanation:
A price rise reduces real income, so the income effect causes less purchase of a normal good.

This question belongs to: Economy GK Economy Set 1

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