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

The 'National Commission for Backward Classes' is constituted under which article?
A. Article 338B
B. Article 338
C. Article 340
D. Article 342
Answer: Option A
Solution (By JKSSB Mock Tests)
The National Commission for Backward Classes is constituted under Article 338B.

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Practice More Economy Set 1 Questions

Question #1
The 'Gross National Product' at factor cost equals GDP at factor cost plus:
A. indirect taxes
B. depreciation
C. net factor income from abroad
D. subsidies

Correct Answer: Option C


Explanation:
GNP at factor cost = GDP at factor cost + net factor income from abroad.

This question belongs to: Economy GK Economy Set 1
Question #2
The concept of 'Gresham's Law' states that:
A. Bad money drives out good money when both are legal tender at fixed rates
B. Paper money always drives out metallic money
C. Good money drives out bad money
D. Only metallic money circulates

Correct Answer: Option A


Explanation:
Gresham’s Law observes that when two forms of money have the same face value but different intrinsic values, the money with lower intrinsic value (bad money) tends to remain in circulation while the higher-value money (good money) is hoarded or exported.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is NOT a source of agricultural finance in India?
A. Commercial banks
B. Cooperative societies
C. Stock exchanges for small farmers
D. NABARD

Correct Answer: Option C


Explanation:
Stock exchanges primarily serve corporate entities. Agricultural finance is provided by commercial banks, cooperatives, RRBs and refinanced by NABARD.

This question belongs to: Economy GK Economy Set 1