The 'National Statistical Office' was formed by merging: MCQ with Answer and Explanation

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The 'National Statistical Office' was formed by merging:

A. RBI and SEBI

B. Labour Bureau and NSSO

C. CSO and Labour Bureau

D. CSO and NSSO

Answer: Option D

Solution (By JKSSB Mock Tests)

NSO was formed by merging Central Statistics Office and National Sample Survey Office.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'direct tax' includes which of the following?

A. Excise duty

B. Income tax

C. GST

D. Customs duty

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Correct Answer: Option B

Explanation:
Income tax is a direct tax.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'veblen effect' is associated with:

A. conspicuous consumption where higher prices increase demand

B. perfect competition

C. homogeneous goods

D. inferior goods

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Correct Answer: Option A

Explanation:
Veblen effect occurs when higher prices increase the prestige of a good and therefore its demand.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of banking theory, the 'Diamond-Dybvig' model explains:

A. The existence of banks as providers of liquidity insurance and the possibility of bank runs

B. Only the role of banks in solving adverse selection

C. Only the role of banks in monitoring firms

D. Why banks never face runs

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Correct Answer: Option A

Explanation:
The Diamond-Dybvig model shows that banks transform illiquid assets into liquid liabilities, providing liquidity insurance to depositors, but that this arrangement is vulnerable to self-fulfilling runs.

This question belongs to: Economy GK Economy Set 1

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