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 NSSO

D. CSO and Labour Bureau

Answer: Option C

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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Question #1

The 'Goods and Services Tax' on legal services is:

A. 5%

B. 0%

C. 18%

D. 12%

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Correct Answer: Option C

Explanation:
Legal services generally attract 18% GST, with some exemptions.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'National Food Security Act' was enacted in:

A. 2018

B. 2010

C. 2015

D. 2013

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Correct Answer: Option D

Explanation:
NFSA was enacted in 2013.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of the 'Calibration' approach in quantitative macroeconomics?

A. No attention is paid to empirical moments

B. Parameters are chosen so that the model matches selected long-run averages or moments of the data

C. Parameters are estimated only by maximum likelihood

D. Only theoretical consistency matters

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Correct Answer: Option B

Explanation:
In the calibration methodology associated with real-business-cycle and dynamic stochastic general-equilibrium models, key parameters are set so that the model reproduces selected long-run averages or other empirical moments.

This question belongs to: Economy GK Economy Set 1

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