The 'Employees' Provident Fund Organisation' operates under which ministry? MCQ with Answer and Explanation

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The 'Employees' Provident Fund Organisation' operates under which ministry?

A. Ministry of Social Justice

B. Ministry of Finance

C. Ministry of Labour and Employment

D. Ministry of Corporate Affairs

Answer: Option C

Solution (By JKSSB Mock Tests)

EPFO operates under the Ministry of Labour and Employment.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is NOT a method of measuring national income?

A. Product method

B. Income method

C. Expenditure method

D. Balance of payments method

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Correct Answer: Option D

Explanation:
National income is measured by product (value added), income and expenditure methods. Balance of payments is used for recording international transactions, not for measuring national income.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Digital rupee' is a central bank digital currency that has been launched by RBI in a pilot.

A. False

B. Only for foreign trade

C. True

D. Only for banks

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Correct Answer: Option C

Explanation:
RBI has launched pilot projects for the Digital Rupee, a central bank digital currency.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Base Year' in national income accounting is important because it:

A. Determines the fiscal deficit target

B. Determines the tax rates

C. Provides the price structure for calculating real GDP

D. Fixes the exchange rate

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Correct Answer: Option C

Explanation:
The base year supplies the constant price weights used to compute real GDP and other volume measures, enabling meaningful comparisons over time.

This question belongs to: Economy GK Economy Set 1

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