The 'International Labour Organization' was established in which year? MCQ with Answer and Explanation

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The 'International Labour Organization' was established in which year?

A. 1945

B. 1948

C. 1919

D. 1966

Answer: Option C

Solution (By JKSSB Mock Tests)

The ILO was established in 1919 under the Treaty of Versailles.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a non-tax revenue receipt of the government?

A. Corporation tax

B. Income tax

C. Dividends and profits from public sector enterprises

D. Customs duty

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Correct Answer: Option C

Explanation:
Dividends and profits from PSUs form part of non-tax revenue. Corporation tax, customs duty and income tax are tax revenues.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'High-Powered Money' is also known as:

A. Broad money

B. Time deposits

C. Narrow money only

D. Reserve money or monetary base

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Correct Answer: Option D

Explanation:
High-powered money (reserve money or monetary base) consists of currency in circulation and the reserves of the banking system with the central bank.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'liquidity adjustment facility' was introduced in India based on the recommendations of:

A. Kelkar Committee

B. Rangarajan Committee

C. Urjit Patel Committee

D. Narasimham Committee

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Correct Answer: Option D

Explanation:
The Liquidity Adjustment Facility was introduced in 2000 based on Narasimham Committee recommendations.

This question belongs to: Economy GK Economy Set 1

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