The 'New Economic Policy 1991' devalued the rupee by about how much in two stages? MCQ with Answer and Explanation

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The 'New Economic Policy 1991' devalued the rupee by about how much in two stages?

A. 50%

B. 30%

C. 18%

D. 5%

Answer: Option C

Solution (By JKSSB Mock Tests)

In July 1991, the rupee was devalued by about 18% in two steps.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Farmers' Produce Trade and Commerce (Promotion and Facilitation) Act, 2020' was later:

A. extended to 2030

B. implemented fully

C. repealed in 2021

D. amended only

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Correct Answer: Option C

Explanation:
The three farm laws of 2020 were repealed in 2021.

This question belongs to: Economy GK Economy Set 1

Question #2

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Disguised unemployment exists when:

A. there is no work due to recession

B. more workers are employed than necessary and marginal productivity of some workers is nearly zero

C. workers are changing jobs

D. workers lack required skills

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Correct Answer: Option B

Explanation:
Disguised unemployment means excess workers whose marginal productivity is near zero.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'self-assessment tax' is paid by a taxpayer:

A. by employer only

B. after assessment by the department

C. on the basis of self-computation before filing return

D. only after a notice

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Correct Answer: Option C

Explanation:
Self-assessment tax is computed and paid by the taxpayer before filing return.

This question belongs to: Economy GK Economy Set 1

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