The 'NITI Aayog' was established through a resolution of: MCQ with Answer and Explanation

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The 'NITI Aayog' was established through a resolution of:

A. Supreme Court

B. President

C. Parliament

D. Union Cabinet

Answer: Option D

Solution (By JKSSB Mock Tests)

NITI Aayog was established by a Union Cabinet resolution on 1 January 2015.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'European Union' currently has how many member countries after Brexit?

A. 27

B. 28

C. 30

D. 25

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Correct Answer: Option A

Explanation:
After Brexit, the EU has 27 member states.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of public finance, the 'Median Voter Theorem' predicts that:

A. Voting never produces consistent outcomes

B. The outcome always reflects the preference of the richest voter

C. Under certain conditions, the outcome of majority voting will reflect the preference of the median voter

D. Only unanimous decisions are possible

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Correct Answer: Option C

Explanation:
The median voter theorem states that if preferences are single-peaked, majority rule yields the outcome most preferred by the median voter.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of Indian economy, the term 'Demographic Dividend' can be realised if:

A. The dependent population increases rapidly

B. The old-age population dominates

C. The fertility rate rises continuously

D. The working-age population is productively employed and skilled

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Correct Answer: Option D

Explanation:
Realising the demographic dividend requires that the large working-age population is educated, skilled and productively employed in the economy.

This question belongs to: Economy GK Economy Set 1

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