The 'National Statistical Office' in India is responsible for: MCQ with Answer and Explanation

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The 'National Statistical Office' in India is responsible for:

A. currency printing

B. collection and publication of statistical data including national accounts

C. conducting elections

D. regulation of stock exchanges

Answer: Option B

Solution (By JKSSB Mock Tests)

NSO collects and publishes official statistics including national accounts and price indices.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Currency depreciation generally makes imports:

A. cheaper

B. unchanged

C. subsidized

D. more expensive in domestic currency

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Correct Answer: Option D

Explanation:
Depreciation makes foreign goods more expensive in domestic currency, reducing import demand.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Effective Demand' in Keynesian economics determines:

A. Only the price level

B. The level of employment and output

C. Only the money supply

D. Only the interest rate

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Correct Answer: Option B

Explanation:
According to Keynes, the level of effective demand (where aggregate demand equals aggregate supply) determines the equilibrium level of employment and output.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'repo' in monetary policy means the RBI:

A. borrows from foreign central banks

B. gives unsecured loans to banks

C. purchases securities from banks with an agreement to sell them back later

D. sells securities to banks and agrees to repurchase them later

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Correct Answer: Option C

Explanation:
In a repo, the RBI purchases securities from banks with an agreement to resell them later, injecting liquidity.

This question belongs to: Economy GK Economy Set 1

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