The four labour codes in India consolidate how many existing central labour laws? MCQ with Answer and Explanation

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The four labour codes in India consolidate how many existing central labour laws?

A. 10

B. 100

C. 29

D. 44

Answer: Option C

Solution (By JKSSB Mock Tests)

The four labour codes consolidate 29 central labour laws.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Chief Executive Officer' of NITI Aayog is appointed by:

A. President

B. Prime Minister

C. Parliament

D. Finance Minister

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Correct Answer: Option B

Explanation:
The CEO of NITI Aayog is appointed by the Prime Minister.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'UPI' transaction limit per transaction set by NPCI is generally:

A. Rs 10,000

B. Rs 10,00,000

C. Rs 5,00,000

D. Rs 1,00,000

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Correct Answer: Option D

Explanation:
The general UPI transaction limit is Rs 1 lakh per transaction, though it varies by bank/category.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the 'Classical Dichotomy'?

A. Real and nominal variables are determined separately and money is neutral

B. Only fiscal policy is neutral

C. Money affects real output in the long run

D. Real and nominal variables are always interdependent

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Correct Answer: Option A

Explanation:
The classical dichotomy is the proposition that real variables (output, employment, relative prices) are determined independently of nominal variables and that money is neutral in the long run.

This question belongs to: Economy GK Economy Set 1

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