Countervailing duties are imposed to: MCQ with Answer and Explanation

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Countervailing duties are imposed to:

A. promote exports

B. offset subsidies given by foreign governments to their exporters

C. restrict foreign investment

D. increase domestic consumption

Answer: Option B

Solution (By JKSSB Mock Tests)

Countervailing duties offset foreign export subsidies.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

A contractionary fiscal policy consists of:

A. reducing government spending or increasing taxes

B. increasing government spending and cutting taxes

C. lowering interest rates

D. increasing money supply

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Correct Answer: Option A

Explanation:
Contractionary fiscal policy reduces aggregate demand by cutting spending or raising taxes.

This question belongs to: Economy GK Economy Set 1

Question #2

Disinvestment refers to:

A. purchase of private sector equity by the government

B. sale of government equity in public sector enterprises

C. foreign investment in defence

D. borrowing from the IMF

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Correct Answer: Option B

Explanation:
Disinvestment is the sale of government equity in public sector enterprises.

This question belongs to: Economy GK Economy Set 1

Question #3

Under perfect competition, the profit-maximizing condition for a firm is:

A. P = AC

B. TR is maximum

C. MR is maximum

D. MR = MC and MC is rising

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Correct Answer: Option D

Explanation:
A perfectly competitive firm maximizes profit where marginal revenue equals marginal cost and MC is rising.

This question belongs to: Economy GK Economy Set 1

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