The 'Special Economic Zones Act' was enacted in India in which year? MCQ with Answer and Explanation

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The 'Special Economic Zones Act' was enacted in India in which year?

A. 2005

B. 2010

C. 2000

D. 2006

Answer: Option A

Solution (By JKSSB Mock Tests)

The SEZ Act was enacted in 2005.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is NOT a component of the Human Development Index?

A. Education

B. Life expectancy at birth

C. Gender equality

D. Per capita income

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Correct Answer: Option C

Explanation:
HDI has three dimensions: health (life expectancy), education (mean and expected years of schooling) and standard of living (GNI per capita). Gender equality is measured by separate indices like GII.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is an assumption of the Ricardian theory of comparative advantage?

A. Labour is the only factor of production and is immobile internationally

B. There are increasing returns to scale

C. Labour is the only factor of production and is mobile internationally

D. Capital is the only factor of production

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Correct Answer: Option A

Explanation:
Ricardo assumed a single factor (labour), constant returns, and international immobility of labour, while labour is mobile within a country.

This question belongs to: Economy GK Economy Set 1