In an open economy, aggregate demand is given by: MCQ with Answer and Explanation

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In an open economy, aggregate demand is given by:

A. I + G + M

B. C + I + G + (X - M)

C. C + S + T

D. C + I - G

Answer: Option B

Solution (By JKSSB Mock Tests)

In an open economy, aggregate demand is C + I + G + (X - M).

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a characteristic of the 'Splinternet' or 'Digital Fragmentation' concern?

A. The risk that the global internet may fragment into separate national or regional networks with incompatible rules and standards

B. The absence of any regulatory differences

C. Only the growth of a single global platform

D. The complete global harmonisation of all digital rules

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Correct Answer: Option A

Explanation:
Digital fragmentation (or the 'splinternet') refers to the potential balkanisation of the internet into distinct spheres governed by divergent national regulations, technical standards and platform ecosystems.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'multidimensional poverty index' considers how many equally weighted dimensions?

A. Two

B. Three

C. Five

D. Ten

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Correct Answer: Option B

Explanation:
MPI has three equally weighted dimensions: health, education and standard of living.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' on tractors is:

A. 12%

B. 28%

C. 5%

D. 18%

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Correct Answer: Option A

Explanation:
Tractors attract 12% GST.

This question belongs to: Economy GK Economy Set 1

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