The 'African Development Bank' is headquartered in: MCQ with Answer and Explanation

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The 'African Development Bank' is headquartered in:

A. Johannesburg

B. Cairo

C. Abidjan

D. Nairobi

Answer: Option C

Solution (By JKSSB Mock Tests)

The African Development Bank is headquartered in Abidjan, Côte d'Ivoire.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Under monopoly, price in equilibrium is typically:

A. less than marginal cost

B. zero

C. equal to marginal cost

D. greater than marginal cost

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Correct Answer: Option D

Explanation:
A monopolist charges a price greater than marginal cost and earns supernormal profit.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of cost, the relationship between Average Cost (AC) and Marginal Cost (MC) is:

A. When MC = AC, AC is minimum

B. MC is always greater than AC

C. When MC > AC, AC is falling

D. When MC < AC, AC is rising

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Correct Answer: Option A

Explanation:
When Marginal Cost equals Average Cost, Average Cost is at its minimum. If MC is below AC, AC falls; if MC is above AC, AC rises.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'circular flow of income' in a two-sector economy includes:

A. households and firms

B. only firms

C. only households

D. government and foreign sector

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Correct Answer: Option A

Explanation:
A two-sector economy includes households and firms.

This question belongs to: Economy GK Economy Set 1

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