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

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The 'National Commission for Scheduled Castes' is constituted under which article?

A. Article 341

B. Article 342

C. Article 338

D. Article 340

Answer: Option C

Solution (By JKSSB Mock Tests)

The National Commission for Scheduled Castes is constituted under Article 338.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' rate on electricity is:

A. 18%

B. 5%

C. 0%

D. not under GST

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Correct Answer: Option D

Explanation:
Electricity is outside GST and subject to state electricity duties.

This question belongs to: Economy GK Economy Set 1

Question #2

In a liquidity adjustment facility, the reverse repo rate is typically how much below the repo rate?

A. 0.50 percentage points

B. 1.00 percentage point

C. 0.25 percentage points

D. 2.00 percentage points

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Correct Answer: Option A

Explanation:
The reverse repo rate is usually 0.50 percentage points below the repo rate, though the actual gap may vary.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'substitution effect' of a price change always leads consumers to buy:

A. more of the good whose relative price has fallen

B. less of the good whose relative price has fallen

C. only inferior goods

D. the same amount

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Correct Answer: Option A

Explanation:
The substitution effect always causes consumers to buy more of the relatively cheaper good.

This question belongs to: Economy GK Economy Set 1

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