The 'Factories Act' in India was enacted in which year? MCQ with Answer and Explanation

Question
The 'Factories Act' in India was enacted in which year?
A. 1956
B. 1948
C. 1950
D. 1947
Answer: Option B
Solution (By JKSSB Mock Tests)
The Factories Act was enacted in 1948.
This question belongs to: Economy GK Economy Set 1
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Question #1
The concept of 'Subjective Well-Being' in economics refers to:
A. Only physical health indicators
B. Only objective measures of income
C. Only environmental quality
D. Individuals’ own evaluations of their lives, typically measured by surveys of happiness or life satisfaction
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Correct Answer: Option D

Explanation:
Subjective well-being encompasses self-reported measures of happiness, life satisfaction and emotional states, which have become an important complement to traditional objective indicators of welfare.
This question belongs to: Economy GK Economy Set 1
Question #2
Forward guidance by a central bank means:
A. guiding exporters
B. regulating stock exchanges
C. communicating future policy intentions to influence expectations
D. fixing exchange rates
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Correct Answer: Option C

Explanation:
Forward guidance is communication by a central bank about future policy intentions.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following taxes has NOT been subsumed under GST?
A. Service Tax
B. State VAT
C. Central Excise Duty
D. Basic Customs Duty
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Correct Answer: Option D

Explanation:
Basic Customs Duty has not been subsumed under GST.
This question belongs to: Economy GK Economy Set 1
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