The 'NABARD' was established on the recommendation of which committee? MCQ with Answer and Explanation

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The 'NABARD' was established on the recommendation of which committee?

A. Rangarajan Committee

B. Sivaraman Committee

C. Narasimham Committee

D. Gadgil Committee

Answer: Option B

Solution (By JKSSB Mock Tests)

NABARD was established on the recommendation of the Sivaraman Committee.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'India Trade Promotion Organisation' is responsible for:

A. organizing trade fairs and promoting exports

B. stock trading

C. regulating banks

D. collecting taxes

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Correct Answer: Option A

Explanation:
ITPO organizes trade fairs and promotes India's external trade.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the 'J-Curve' effect?

A. After a depreciation, the trade balance improves immediately

B. Appreciation always improves the trade balance

C. After a depreciation, the trade balance first deteriorates before improving

D. Depreciation has no effect on the trade balance

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Correct Answer: Option C

Explanation:
The J-curve describes the short-run deterioration of the trade balance following a depreciation (because quantities adjust slowly while prices change immediately), followed by a longer-run improvement.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of international trade, 'Most Favoured Nation' (MFN) treatment means:

A. Equal trade treatment to all member countries

B. Preferential treatment to one country only

C. Ban on imports from certain countries

D. Higher tariffs for all countries

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Correct Answer: Option A

Explanation:
MFN principle under WTO requires that any advantage granted to one member country must be extended to all other members, ensuring non-discrimination.

This question belongs to: Economy GK Economy Set 1

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