The Negotiable Instruments Act was enacted in which year? MCQ with Answer and Explanation

Question
The Negotiable Instruments Act was enacted in which year?
A. 1881
B. 1934
C. 1872
D. 1949
Answer: Option A
Solution (By JKSSB Mock Tests)
The Negotiable Instruments Act was enacted in 1881 and governs cheques, bills of exchange and promissory notes.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
In the context of monetary policy, the 'Divine Coincidence' in basic New Keynesian models refers to:
A. Only the stabilisation of the exchange rate
B. The impossibility of stabilising either inflation or output
C. The conflict between inflation and output stabilisation
D. The fact that stabilising inflation also stabilises the output gap under certain assumptions
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Correct Answer: Option D

Explanation:
In the simplest New Keynesian model with only sticky prices and no other distortions, the optimal policy that fully stabilises inflation also closes the output gap—the so-called divine coincidence.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'BRICS' group originally included Brazil, Russia, India, China and:
A. South Africa
B. South Korea
C. Turkey
D. Indonesia
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Correct Answer: Option A

Explanation:
BRICS consists of Brazil, Russia, India, China and South Africa.
This question belongs to: Economy GK Economy Set 1
Question #3
Globalization in the Indian economic context means:
A. self-reliant village economy
B. increasing integration with the world economy
C. closing the economy to foreign trade
D. nationalization of foreign companies
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Correct Answer: Option B

Explanation:
Globalization means increasing integration of the Indian economy with the world economy.
This question belongs to: Economy GK Economy Set 1
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