In the context of money supply, M3 is also known as: MCQ with Answer and Explanation

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In the context of money supply, M3 is also known as:

A. Broad money

B. Reserve money

C. High-powered money

D. Narrow money

Answer: Option A

Solution (By JKSSB Mock Tests)

M3 is referred to as broad money and includes M1 plus time deposits with banks. Reserve money or high-powered money is the monetary base.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' rate on mobile phones is:

A. 28%

B. 12%

C. 5%

D. 18%

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Correct Answer: Option D

Explanation:
Mobile phones attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Repo Rate' refers to the rate at which:

A. Government borrows from RBI

B. RBI borrows from commercial banks

C. Commercial banks lend to RBI

D. RBI lends to commercial banks against securities

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Correct Answer: Option D

Explanation:
Repo rate is the rate at which the Reserve Bank of India lends money to commercial banks against government securities for short-term needs.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Periodic Labour Force Survey' was started in which year?

A. 2019

B. 2018

C. 2017

D. 2015

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Correct Answer: Option C

Explanation:
PLFS was launched in 2017.

This question belongs to: Economy GK Economy Set 1

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