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

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The 'Maternity Benefit Act' was enacted in India in which year?

A. 1956

B. 1972

C. 1976

D. 1961

Answer: Option D

Solution (By JKSSB Mock Tests)

The Maternity Benefit Act was enacted in 1961.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a measure of economic inequality?

A. Gini coefficient, Lorenz curve and Theil index

B. Only GDP growth rate

C. Human Development Index as a pure inequality measure

D. Only unemployment rate

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Correct Answer: Option A

Explanation:
The Gini coefficient, Lorenz curve and Theil index are standard measures used to quantify the degree of inequality in the distribution of income or wealth.

This question belongs to: Economy GK Economy Set 1

Question #2

Devaluation of a currency refers to:

A. official lowering of the value of a currency under a fixed exchange rate system

B. market-determined fall in the value of a currency

C. a rise in domestic interest rates

D. buying of foreign currency by the central bank

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Correct Answer: Option A

Explanation:
Devaluation is the official lowering of a currency's value under a fixed exchange rate system.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of money supply, M3 is also known as:

A. Reserve money

B. High-powered money

C. Broad money

D. Narrow money

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Correct Answer: Option C

Explanation:
M3 is referred to as broad money and includes M1 plus time deposits with banks. Reserve money or high-powered money is the monetary base.

This question belongs to: Economy GK Economy Set 1

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