A current account surplus occurs when: MCQ with Answer and Explanation

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A current account surplus occurs when:

A. foreign exchange reserves fall

B. capital outflows exceed inflows

C. exports of goods, services and income exceed imports

D. imports exceed exports

Answer: Option C

Solution (By JKSSB Mock Tests)

A current account surplus occurs when exports of goods, services and income exceed imports.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Original Sin' in the literature on emerging-market debt refers to:

A. The historical difficulty of many countries in borrowing internationally in their own currency

B. Only domestic-currency debt problems

C. The first occurrence of a debt default

D. The sin of high public spending

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Correct Answer: Option A

Explanation:
Original sin denotes the inability of most emerging-market and developing countries to borrow abroad in their own currencies, forcing them to issue foreign-currency debt and creating currency mismatches.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Operation Greens' scheme is related to which agricultural products?

A. Wheat and rice

B. Pulses and oilseeds

C. Tomato, onion and potato

D. Milk and eggs

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Correct Answer: Option C

Explanation:
Operation Greens aims to stabilize supply of TOP (tomato, onion, potato) crops.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Asian Development Bank' in India funds projects related to:

A. military

B. elections

C. space research

D. infrastructure, energy, urban development and social sectors

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Correct Answer: Option D

Explanation:
ADB funds infrastructure, energy, urban and social sector projects.

This question belongs to: Economy GK Economy Set 1

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