The 'National Commission for Backward Classes' is constituted under which article? MCQ with Answer and Explanation

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The 'National Commission for Backward Classes' is constituted under which article?

A. Article 342

B. Article 338

C. Article 340

D. Article 338B

Answer: Option D

Solution (By JKSSB Mock Tests)

The National Commission for Backward Classes is constituted under Article 338B.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Gross Domestic Product' at market prices equals GVA at basic prices plus:

A. net factor income from abroad

B. product subsidies minus product taxes

C. product taxes minus product subsidies

D. depreciation

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Correct Answer: Option C

Explanation:
GDP at market prices = GVA at basic prices + product taxes - product subsidies.

This question belongs to: Economy GK Economy Set 1

Question #2

The call money market deals in:

A. long-term government securities

B. foreign exchange only

C. very short-term interbank funds, usually overnight

D. corporate equity shares

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Correct Answer: Option C

Explanation:
The call money market deals in very short-term interbank funds, often overnight.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Sovereign Wealth Fund' is a state-owned investment fund that invests in:

A. only domestic infrastructure

B. only gold

C. various financial assets including equities and real estate

D. only government bonds

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Correct Answer: Option C

Explanation:
Sovereign wealth funds invest in financial assets such as equities, bonds and real estate.

This question belongs to: Economy GK Economy Set 1

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