The 'Small Industries Development Bank of India' was established in which year? MCQ with Answer and Explanation

The 'Small Industries Development Bank of India' was established in which year?
A. 1980
B. 1990
C. 1995
D. 2000
Answer: Option B
Solution (By JKSSB Mock Tests)
SIDBI was established in 1990.

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Practice More Economy Set 1 Questions

Question #1
The 'GST Council' can recommend which of the following?
A. taxes to be subsumed under GST
B. corporate tax rates
C. customs duties on imports
D. income tax rates

Correct Answer: Option A


Explanation:
GST Council recommends taxes to be subsumed and GST rates.

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a characteristic of the 'Search Theory' of unemployment?
A. Unemployment is only classical and caused by high real wages
B. Only aggregate demand determines unemployment
C. Unemployment arises from the time-consuming process of matching workers and jobs
D. Markets always clear instantaneously

Correct Answer: Option C


Explanation:
Search-and-matching theory explains frictional and structural unemployment as the result of imperfect information and the costly process of matching heterogeneous workers with heterogeneous jobs.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a characteristic of the 'Solow Residual'?
A. It measures only the contribution of capital
B. It measures the contribution of total factor productivity growth to output growth
C. It is always equal to zero
D. It measures only the contribution of labour

Correct Answer: Option B


Explanation:
The Solow residual is the part of output growth that remains after accounting for the contributions of capital and labour inputs; it is commonly interpreted as a measure of total factor productivity growth.

This question belongs to: Economy GK Economy Set 1