The 'Public Distribution System' in India is administered by: MCQ with Answer and Explanation

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The 'Public Distribution System' in India is administered by:

A. Ministry of Finance

B. Ministry of Agriculture

C. NITI Aayog

D. Department of Food and Public Distribution

Answer: Option D

Solution (By JKSSB Mock Tests)

The public distribution system is administered by the Department of Food and Public Distribution.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of monetary policy, the 'Zero Lower Bound' problem refers to:

A. The inability of nominal interest rates to fall significantly below zero

B. The floor on the fiscal deficit

C. The minimum reserve requirement

D. The inability of real interest rates to be positive

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Correct Answer: Option A

Explanation:
The zero lower bound refers to the constraint that nominal interest rates cannot be reduced much below zero, limiting the effectiveness of conventional monetary policy in deep recessions.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Planning Commission' was set up in 1950 by a resolution of the:

A. Government of India

B. Parliament

C. Supreme Court

D. President

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Correct Answer: Option A

Explanation:
The Planning Commission was established by a Cabinet resolution in March 1950.

This question belongs to: Economy GK Economy Set 1

Question #3

The marginal propensity to consume is the ratio of:

A. consumption to saving

B. change in consumption to change in income

C. change in saving to change in income

D. total consumption to total income

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Correct Answer: Option B

Explanation:
MPC is the ratio of change in consumption to change in income.

This question belongs to: Economy GK Economy Set 1

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