In the context of public debt, 'Internal Debt' refers to: MCQ with Answer and Explanation

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In the context of public debt, 'Internal Debt' refers to:

A. Only IMF loans

B. Debt owed to foreign creditors

C. Debt owed to domestic creditors

D. Only short-term external borrowings

Answer: Option C

Solution (By JKSSB Mock Tests)

Internal debt is the portion of public debt that is owed to lenders within the country, such as market borrowings, treasury bills and other domestic liabilities.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' rate on readymade garments up to Rs 1,000 is:

A. 5%

B. 12%

C. 0%

D. 18%

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Correct Answer: Option A

Explanation:
Readymade garments up to Rs 1,000 attract 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Finance Bill' is a Money Bill and can be introduced only in:

A. either House

B. Lok Sabha

C. joint session

D. Rajya Sabha

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Correct Answer: Option B

Explanation:
A Money Bill including Finance Bill can be introduced only in Lok Sabha.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Ease of Doing Business' in India is measured by which index?

A. Human Development Index

B. World Bank's Ease of Doing Business Index

C. Global Competitiveness Index

D. Logistics Performance Index

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Correct Answer: Option B

Explanation:
Ease of Doing Business is measured by the World Bank's index.

This question belongs to: Economy GK Economy Set 1

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