The term 'Demonetisation' refers to: MCQ with Answer and Explanation

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The term 'Demonetisation' refers to:

A. Introduction of new currency notes

B. Printing of more currency notes

C. Withdrawal of a currency unit from legal tender status

D. Devaluation of currency

Answer: Option C

Solution (By JKSSB Mock Tests)

Demonetisation is the act of stripping a currency unit of its status as legal tender. In India, high denomination notes were demonetised in 2016.

This question belongs to: Economy GK Economy Set 1

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The 'Maternity Benefit Act' was enacted in India in which year?

A. 1972

B. 1961

C. 1976

D. 1956

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Correct Answer: Option B

Explanation:
The Maternity Benefit Act was enacted in 1961.

This question belongs to: Economy GK Economy Set 1

Question #2

The yield on a bond and its price have an inverse relationship. If market interest rates rise, the price of an existing bond:

A. remains unchanged

B. rises

C. becomes zero

D. falls

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Correct Answer: Option D

Explanation:
When market interest rates rise, existing bond prices fall because their fixed coupon becomes less attractive.

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Question #3

The 'National Agriculture Market' e-NAM was launched in which year?

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C. 2014

D. 2017

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Correct Answer: Option B

Explanation:
e-NAM was launched in 2016.

This question belongs to: Economy GK Economy Set 1

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