The 'MSME Development Act' was enacted in which year? MCQ with Answer and Explanation

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The 'MSME Development Act' was enacted in which year?

A. 2010

B. 2015

C. 2000

D. 2006

Answer: Option D

Solution (By JKSSB Mock Tests)

The MSME Development Act was enacted in 2006.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'International Monetary Fund' in India provides advice on:

A. elections

B. defence strategy

C. criminal justice

D. macroeconomic policy and balance of payments

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Correct Answer: Option D

Explanation:
IMF advises on macroeconomic policy and balance of payments.

This question belongs to: Economy GK Economy Set 1

Question #2

Average product is obtained by dividing total product by:

A. marginal product

B. fixed input

C. total cost

D. units of variable input

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Correct Answer: Option D

Explanation:
Average product is total product divided by the units of the variable input used.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is NOT a component of the Union Budget of India?

A. Revenue Budget

B. Capital Budget

C. Finance Bill

D. Monetary Policy Statement

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Correct Answer: Option D

Explanation:
The Monetary Policy Statement is issued by the RBI. The Union Budget consists of the Revenue Budget, Capital Budget and related documents including the Finance Bill.

This question belongs to: Economy GK Economy Set 1

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