The 'aggregate supply curve' in the short run is typically: MCQ with Answer and Explanation

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The 'aggregate supply curve' in the short run is typically:

A. upward sloping

B. horizontal

C. downward sloping

D. vertical

Answer: Option A

Solution (By JKSSB Mock Tests)

The short-run aggregate supply curve is upward sloping due to sticky wages and prices.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Integrated GST' on interstate supply is collected by:

A. the consuming state directly

B. the local body

C. the exporting state

D. the Central Government

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Correct Answer: Option D

Explanation:
IGST is collected by the Central Government and then apportioned between Centre and states.

This question belongs to: Economy GK Economy Set 1

Question #2

The term 'Open Market Operations' are conducted by the RBI to:

A. Regulate the stock market directly

B. Fix the long-term fiscal deficit target

C. Manage liquidity and influence short-term interest rates

D. Determine tax rates

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Correct Answer: Option C

Explanation:
Open Market Operations involve the buying and selling of government securities by the RBI to inject or absorb liquidity and thereby influence money market interest rates.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Coinage Act' in India is administered by:

A. RBI

B. Government of India

C. SBI

D. SEBI

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Correct Answer: Option B

Explanation:
Coins are issued by the Government of India under the Coinage Act.

This question belongs to: Economy GK Economy Set 1

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