The 'Food Safety and Standards Authority of India' works under which ministry? MCQ with Answer and Explanation

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The 'Food Safety and Standards Authority of India' works under which ministry?

A. Ministry of Commerce

B. Ministry of Health and Family Welfare

C. Ministry of Food Processing Industries

D. Ministry of Agriculture

Answer: Option B

Solution (By JKSSB Mock Tests)

FSSAI functions under the Ministry of Health and Family Welfare.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

In the context of demand analysis, the Engel Curve shows the relationship between:

A. Income and quantity demanded

B. Cost and output

C. Price and quantity demanded

D. Price and supply

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Correct Answer: Option A

Explanation:
The Engel Curve illustrates how the quantity demanded of a good changes as consumer income changes, holding prices constant.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'investment multiplier' is greater when the marginal propensity to consume is:

A. zero

B. negative

C. lower

D. higher

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Correct Answer: Option D

Explanation:
The multiplier is higher when MPC is higher because more of each income increase is spent.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Financial Stability' as an objective of central banks refers to:

A. Only price stability

B. Stability of the financial system and prevention of systemic risks

C. Only growth maximisation

D. Only exchange rate stability

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Correct Answer: Option B

Explanation:
Financial stability involves the resilience of the financial system to shocks and the smooth functioning of financial intermediation without systemic disruptions.

This question belongs to: Economy GK Economy Set 1

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