The 'Reserve Bank of India' transfers its surplus profit to: MCQ with Answer and Explanation

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The 'Reserve Bank of India' transfers its surplus profit to:

A. Government of India

B. state governments

C. banks

D. SEBI

Answer: Option A

Solution (By JKSSB Mock Tests)

The RBI transfers its surplus profit to the Government of India.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of international economics, 'Dumping' is considered:

A. A fair trade practice

B. An unfair trade practice of selling below cost or domestic price in foreign markets

C. A tariff barrier

D. A form of export promotion subsidy only

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Correct Answer: Option B

Explanation:
Dumping involves selling a product in a foreign market at a price lower than the domestic price or below the cost of production, often subject to anti-dumping duties.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Model APMC Act' was circulated by the central government in which year?

A. 2003

B. 2010

C. 2006

D. 2000

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Correct Answer: Option A

Explanation:
The Model APMC Act was circulated in 2003 to promote reforms in agricultural marketing.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of indicative planning in India refers to:

A. planning without any state intervention

B. planning based on forced targets

C. planning in a mixed economy with public and private sectors

D. state ownership of all means of production

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Correct Answer: Option C

Explanation:
Indicative planning in India is planning in a mixed economy with both public and private sectors.

This question belongs to: Economy GK Economy Set 1

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