The 'National Anti-profiteering Authority' under GST was headed by a: MCQ with Answer and Explanation

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The 'National Anti-profiteering Authority' under GST was headed by a:

A. RBI Governor

B. Finance Minister

C. Secretary-level officer

D. Supreme Court judge

Answer: Option C

Solution (By JKSSB Mock Tests)

NAA was headed by a Secretary-level officer.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a qualitative method of credit control used by RBI?

A. Open Market Operations

B. Moral Suasion

C. Bank Rate

D. Cash Reserve Ratio

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Correct Answer: Option B

Explanation:
Moral suasion is a qualitative (selective) method of credit control where RBI persuades banks to follow certain credit policies. Bank Rate, OMO and CRR are quantitative methods.

This question belongs to: Economy GK Economy Set 1

Question #2

The free-rider problem is associated with:

A. common resources

B. club goods

C. private goods

D. public goods

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Correct Answer: Option D

Explanation:
Public goods are non-excludable, so individuals can benefit without paying, creating the free-rider problem.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'currency note' in India bears the signature of:

A. President

B. Prime Minister

C. Finance Minister

D. RBI Governor

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Correct Answer: Option D

Explanation:
Currency notes except one rupee bear the signature of the RBI Governor.

This question belongs to: Economy GK Economy Set 1

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