Balance of Trade refers to the difference between: MCQ with Answer and Explanation

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Balance of Trade refers to the difference between:

A. capital inflows and outflows

B. exports and imports of goods and services

C. exports and imports of goods only

D. foreign exchange reserves and gold

Answer: Option C

Solution (By JKSSB Mock Tests)

Balance of Trade is the difference between a country's exports and imports of goods only.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Which of the following is NOT a measure to control inflation?

A. Increase in bank rate

B. Open market sale of securities

C. Increase in government expenditure

D. Increase in CRR

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Correct Answer: Option C

Explanation:
Increase in government expenditure would increase aggregate demand and potentially worsen inflation. The other measures reduce money supply or credit and help control inflation.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' registration threshold for goods suppliers is generally:

A. Rs 50 lakh

B. Rs 40 lakh

C. Rs 1 crore

D. Rs 20 lakh

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Correct Answer: Option B

Explanation:
The GST threshold for goods is Rs 40 lakh (Rs 20 lakh in special category states).

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Financial Stability Report' in India is published by:

A. Reserve Bank of India

B. Ministry of Finance

C. NITI Aayog

D. SEBI

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Correct Answer: Option A

Explanation:
The RBI publishes the Financial Stability Report.

This question belongs to: Economy GK Economy Set 1

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