The 'Election Commission of India' is constituted under which article? MCQ with Answer and Explanation

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The 'Election Commission of India' is constituted under which article?

A. Article 280

B. Article 356

C. Article 360

D. Article 324

Answer: Option D

Solution (By JKSSB Mock Tests)

The Election Commission is constituted under Article 324.

This question belongs to: Economy GK Economy Set 1

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Question #1

Fiscal deficit is best defined as:

A. total expenditure minus interest payments

B. total expenditure minus total receipts excluding borrowings

C. revenue expenditure minus revenue receipts

D. total receipts minus total expenditure

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Correct Answer: Option B

Explanation:
Fiscal deficit is the excess of total expenditure over total receipts excluding borrowings.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is NOT a component of the Human Development Report published by UNDP?

A. Wholesale Price Index of India

B. Human Development Index

C. Gender Inequality Index

D. Multidimensional Poverty Index

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Correct Answer: Option A

Explanation:
The Wholesale Price Index is an Indian domestic price index. The Human Development Report includes HDI, GII, MPI and other development-related indices.

This question belongs to: Economy GK Economy Set 1

Question #3

The Gadgil formula was used for:

A. sharing of income tax

B. allocation of bank credit

C. distribution of central plan assistance among states

D. determining agricultural prices

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Correct Answer: Option C

Explanation:
The Gadgil formula was used to allocate central plan assistance among states.

This question belongs to: Economy GK Economy Set 1

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