The 'Directorate General of Foreign Trade' is under which ministry? MCQ with Answer and Explanation

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The 'Directorate General of Foreign Trade' is under which ministry?

A. Ministry of External Affairs

B. Ministry of Finance

C. Ministry of Commerce and Industry

D. Ministry of Home Affairs

Answer: Option C

Solution (By JKSSB Mock Tests)

DGFT operates under the Ministry of Commerce and Industry.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Wildlife Protection Act' was enacted in which year?

A. 1980

B. 1986

C. 1972

D. 1968

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Correct Answer: Option C

Explanation:
The Wildlife Protection Act was enacted in 1972.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the Indian monetary policy framework since 2016?

A. Flexible inflation targeting with CPI as the nominal anchor

B. Monetary targeting with M3 as the sole intermediate target

C. Multiple indicator approach without a nominal anchor

D. Exchange rate targeting

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Correct Answer: Option A

Explanation:
India adopted a Flexible Inflation Targeting framework in 2016, with CPI inflation as the nominal anchor and a target of 4% with a tolerance band of ±2%.

This question belongs to: Economy GK Economy Set 1

Question #3

Under perfect competition, the profit-maximizing condition for a firm is:

A. MR is maximum

B. TR is maximum

C. MR = MC and MC is rising

D. P = AC

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Correct Answer: Option C

Explanation:
A perfectly competitive firm maximizes profit where marginal revenue equals marginal cost and MC is rising.

This question belongs to: Economy GK Economy Set 1

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