The 'Forest Conservation Act' was enacted in which year? MCQ with Answer and Explanation

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The 'Forest Conservation Act' was enacted in which year?

A. 1986

B. 1980

C. 2002

D. 1972

Answer: Option B

Solution (By JKSSB Mock Tests)

The Forest Conservation Act was enacted in 1980.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the quantity theory of money, the equation MV = PT was given by:

A. Alfred Marshall

B. John Maynard Keynes

C. Milton Friedman

D. Irving Fisher

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Correct Answer: Option D

Explanation:
Irving Fisher formulated the equation of exchange MV = PT, where M is money supply, V is velocity of money, P is price level and T is volume of transactions.

This question belongs to: Economy GK Economy Set 1

Question #2

The Fifteenth Finance Commission was headed by:

A. C. Rangarajan

B. N.K. Singh

C. Y.V. Reddy

D. Vijay Kelkar

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Correct Answer: Option B

Explanation:
The Fifteenth Finance Commission was headed by N.K. Singh.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Effective Demand' in Keynesian economics determines:

A. Only the interest rate

B. Only the price level

C. The level of employment and output

D. Only the money supply

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Correct Answer: Option C

Explanation:
According to Keynes, the level of effective demand (where aggregate demand equals aggregate supply) determines the equilibrium level of employment and output.

This question belongs to: Economy GK Economy Set 1

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