Currency appreciation generally makes exports: MCQ with Answer and Explanation

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Currency appreciation generally makes exports:

A. more expensive in foreign currency

B. free from tariffs

C. cheaper

D. unchanged

Answer: Option A

Solution (By JKSSB Mock Tests)

When a currency appreciates, domestic goods become more expensive for foreign buyers, reducing exports.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on ambulance services is:

A. exempt

B. 5%

C. 18%

D. 0%

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Correct Answer: Option A

Explanation:
Ambulance services are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of production functions, returns to scale refer to:

A. Change in cost when output changes

B. Change in output when all inputs are varied proportionately

C. Change in price when supply changes

D. Change in output when one input is varied

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Correct Answer: Option B

Explanation:
Returns to scale examine how output changes when all inputs are increased by the same proportion. They can be increasing, constant or decreasing.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'GST Council' decisions are taken by:

A. three-fourths majority with Centre having one-third weight

B. majority vote of all members

C. unanimous consent only

D. simple majority with states having two-thirds weight

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Correct Answer: Option A

Explanation:
GST Council decisions require a three-fourths majority, with the Centre's vote having one-third weight and states two-thirds.

This question belongs to: Economy GK Economy Set 1

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