The 'Reserve Bank of India' was modelled on which central bank? MCQ with Answer and Explanation

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The 'Reserve Bank of India' was modelled on which central bank?

A. Federal Reserve System

B. European Central Bank

C. Bank of England

D. Bank of Japan

Answer: Option C

Solution (By JKSSB Mock Tests)

The RBI was modelled on the Bank of England.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Atal Pension Yojana' provides a guaranteed pension ranging from:

A. Rs 5,000 to Rs 10,000

B. Rs 10,000 to Rs 20,000

C. Rs 1,000 to Rs 5,000

D. Rs 500 to Rs 1,000

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Correct Answer: Option C

Explanation:
Atal Pension Yojana provides guaranteed pension from Rs 1,000 to Rs 5,000 per month.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on sale of under-construction residential non-affordable housing is:

A. 5% without ITC

B. 18%

C. 1%

D. 12%

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Correct Answer: Option A

Explanation:
Non-affordable residential under-construction property attracts 5% GST without ITC.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the 'Multidimensional Poverty Index'?

A. It captures deprivations in health, education and living standards at the household level

B. It measures only inequality

C. It is based only on national accounts data

D. It measures only income poverty

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Correct Answer: Option A

Explanation:
The Multidimensional Poverty Index identifies multiple overlapping deprivations suffered by households in the domains of health, education and living standards, providing a more comprehensive picture of poverty than income alone.

This question belongs to: Economy GK Economy Set 1

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