The 'National Income Committee' in independent India was appointed in which year? MCQ with Answer and Explanation

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The 'National Income Committee' in independent India was appointed in which year?

A. 1949

B. 1952

C. 1947

D. 1950

Answer: Option A

Solution (By JKSSB Mock Tests)

The National Income Committee was appointed in 1949.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'euro' currency was introduced as an accounting currency in which year?

A. 1992

B. 1999

C. 2005

D. 2002

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Correct Answer: Option B

Explanation:
The euro was introduced in bookkeeping form in 1999, with physical notes and coins in 2002.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Wholesale Price Index' is used in India for:

A. pension calculation

B. wage revision

C. measurement of inflation at wholesale level

D. income tax

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Correct Answer: Option C

Explanation:
WPI measures inflation at the wholesale level.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Pareto Optimality' is associated with:

A. Development economics

B. International trade theory

C. Monetary economics

D. Welfare economics

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Correct Answer: Option D

Explanation:
Pareto Optimality is a concept in welfare economics where resources are allocated in such a way that no one can be made better off without making someone else worse off.

This question belongs to: Economy GK Economy Set 1

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