Globalization in the Indian economic context means: MCQ with Answer and Explanation

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Globalization in the Indian economic context means:

A. nationalization of foreign companies

B. self-reliant village economy

C. closing the economy to foreign trade

D. increasing integration with the world economy

Answer: Option D

Solution (By JKSSB Mock Tests)

Globalization means increasing integration of the Indian economy with the world economy.

This question belongs to: Economy GK Economy Set 1

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Question #1

In accounting terms, the overall Balance of Payments always balances because:

A. current account equals capital account

B. exports always equal imports

C. it follows double-entry bookkeeping and official reserves adjust

D. exchange rates are fixed

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Correct Answer: Option C

Explanation:
The Balance of Payments always balances in accounting terms due to double-entry bookkeeping and reserve movements.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of monetary economics, the 'Liquidity Effect' of an increase in the money supply refers to:

A. Only the rise in output

B. The short-run decline in nominal interest rates caused by an increase in liquidity

C. Only the rise in prices

D. The long-run rise in interest rates

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Correct Answer: Option B

Explanation:
The liquidity effect is the tendency for an exogenous increase in the money supply to lower nominal interest rates in the short run as the supply of loanable funds increases.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Norges Bank Investment Management' manages the sovereign wealth fund of:

A. China

B. Saudi Arabia

C. UAE

D. Norway

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Correct Answer: Option D

Explanation:
Norges Bank Investment Management manages Norway's Government Pension Fund Global.

This question belongs to: Economy GK Economy Set 1

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