The 'National Food Security Act' was enacted in: MCQ with Answer and Explanation

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The 'National Food Security Act' was enacted in:

A. 2018

B. 2013

C. 2010

D. 2015

Answer: Option B

Solution (By JKSSB Mock Tests)

NFSA was enacted in 2013.

This question belongs to: Economy GK Economy Set 1

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Question #1

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A sunk cost is a cost that:

A. can be recovered easily

B. is equal to marginal cost

C. has already been incurred and cannot be recovered

D. falls as output rises

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Correct Answer: Option C

Explanation:
A sunk cost has already been incurred and cannot be recovered.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'consumer price index' for rural and urban areas separately is compiled by:

A. RBI

B. National Statistical Office

C. Ministry of Finance

D. Labour Bureau

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Correct Answer: Option B

Explanation:
CPI-Rural and CPI-Urban are compiled by the NSO.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a characteristic of the 'Search Theory' of unemployment?

A. Markets always clear instantaneously

B. Only aggregate demand determines unemployment

C. Unemployment is only classical and caused by high real wages

D. Unemployment arises from the time-consuming process of matching workers and jobs

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Correct Answer: Option D

Explanation:
Search-and-matching theory explains frictional and structural unemployment as the result of imperfect information and the costly process of matching heterogeneous workers with heterogeneous jobs.

This question belongs to: Economy GK Economy Set 1

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