The 'one rupee note' bears the signature of: MCQ with Answer and Explanation

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The 'one rupee note' bears the signature of:

A. Finance Minister

B. RBI Governor

C. Finance Secretary

D. President

Answer: Option C

Solution (By JKSSB Mock Tests)

The one rupee note bears the signature of the Finance Secretary.

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 measuring inequality, the 'Palma Ratio' is defined as:

A. The ratio of the top 1 per cent to the bottom 1 per cent

B. The ratio of the income share of the top 10 per cent to that of the bottom 40 per cent

C. The Gini coefficient multiplied by 100

D. The share of the middle 50 per cent only

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Correct Answer: Option B

Explanation:
The Palma ratio is the ratio of the income share of the richest 10 per cent of the population to that of the poorest 40 per cent; it focuses on the tails of the distribution that account for most inequality.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'First Advance Estimates' of GDP for a financial year in India are released by:

A. RBI

B. NITI Aayog

C. Ministry of Finance

D. National Statistical Office

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Correct Answer: Option D

Explanation:
The NSO releases advance estimates of GDP.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'NACH' system is used for:

A. foreign exchange trading

B. stock trading

C. bulk payments such as subsidies and salary credits

D. cryptocurrency

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Correct Answer: Option C

Explanation:
NACH is used for bulk electronic payments.

This question belongs to: Economy GK Economy Set 1

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