The 'Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act' was enacted in which year? MCQ with Answer and Explanation

The 'Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act' was enacted in which year?
A. 1999
B. 2010
C. 2005
D. 2002
Answer: Option D
Solution (By JKSSB Mock Tests)
SARFAESI Act was enacted in 2002.

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Practice More Economy Set 1 Questions

Question #1
In the context of the Indian economy, the term 'Twin Deficit' refers to:
A. Capital account deficit and fiscal surplus
B. Revenue deficit and primary deficit only
C. Fiscal deficit and current account deficit
D. Budget deficit and trade surplus

Correct Answer: Option C


Explanation:
Twin deficit refers to the simultaneous existence of a fiscal deficit (government budget) and a current account deficit (external sector) in an economy.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Human Development Index' includes indicators of:
A. income, environment and defence
B. only education and health
C. only income
D. income, education and health

Correct Answer: Option D


Explanation:
HDI combines per capita income, education and life expectancy indicators.

This question belongs to: Economy GK Economy Set 1
Question #3
The concept of 'Producer Surplus' is the difference between:
A. Price and marginal cost only
B. What consumers are willing to pay and what they actually pay
C. Total revenue and total cost
D. What producers are willing to accept and what they actually receive

Correct Answer: Option D


Explanation:
Producer surplus is the difference between the amount a producer is willing to accept for a good and the amount actually received (market price).

This question belongs to: Economy GK Economy Set 1