The 'Pension Fund Regulatory and Development Authority' is a: MCQ with Answer and Explanation

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The 'Pension Fund Regulatory and Development Authority' is a:

A. government department

B. statutory body

C. constitutional body

D. private company

Answer: Option B

Solution (By JKSSB Mock Tests)

PFRDA is a statutory body established under the PFRDA Act, 2013.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' is collected by the central government under which component?

A. SGST

B. CGST and IGST

C. SGST only

D. UTGST only

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Correct Answer: Option B

Explanation:
The central government collects CGST and IGST.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the 'New Classical' school of macroeconomics?

A. Liquidity trap as a central concept

B. Emphasis on sticky wages and prices

C. Importance of fiscal policy for stabilisation

D. Rational expectations and continuous market clearing

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Correct Answer: Option D

Explanation:
New Classical economics assumes rational expectations and continuous market clearing, implying that systematic monetary policy cannot systematically affect real output.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'G20' comprises how many members?

A. 19 countries plus EU

B. 24 countries

C. 20 countries

D. 22 countries

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Correct Answer: Option A

Explanation:
G20 comprises 19 countries and the European Union.

This question belongs to: Economy GK Economy Set 1

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