Devaluation of a currency refers to: MCQ with Answer and Explanation

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Devaluation of a currency refers to:

A. market-determined fall in the value of a currency

B. official lowering of the value of a currency under a fixed exchange rate system

C. buying of foreign currency by the central bank

D. a rise in domestic interest rates

Answer: Option B

Solution (By JKSSB Mock Tests)

Devaluation is the official lowering of a currency's value under a fixed exchange rate system.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'World Economic Outlook' is published by:

A. World Bank

B. UNCTAD

C. OECD

D. IMF

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Correct Answer: Option D

Explanation:
The World Economic Outlook is published by the IMF.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Comptroller and Auditor General of India' is appointed under which article?

A. Article 324

B. Article 150

C. Article 280

D. Article 148

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Correct Answer: Option D

Explanation:
The CAG is appointed under Article 148.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of international climate finance, the 'Loss and Damage' agenda refers to:

A. Support for developing countries facing irreversible impacts of climate change that cannot be adapted to

B. Only mitigation finance

C. Only private insurance markets

D. Only adaptation finance within national borders

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Correct Answer: Option A

Explanation:
Loss and damage refers to the adverse effects of climate change that cannot be avoided through mitigation or adaptation; the agenda seeks financial and technical support for particularly vulnerable countries.

This question belongs to: Economy GK Economy Set 1

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