The 'ASEAN' grouping has how many member countries? MCQ with Answer and Explanation

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The 'ASEAN' grouping has how many member countries?

A. 12

B. 8

C. 14

D. 10

Answer: Option D

Solution (By JKSSB Mock Tests)

ASEAN has 10 member countries.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is an example of an automatic stabiliser in the economy?

A. Discretionary government spending

B. Progressive income tax

C. Change in repo rate

D. Open market operations

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Correct Answer: Option B

Explanation:
Automatic stabilisers are features of the fiscal system that automatically dampen economic fluctuations without new legislation. Progressive income tax reduces disposable income during booms and increases it during recessions.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'General Agreement on Trade in Services' came into force in which year?

A. 1995

B. 2000

C. 2005

D. 1994

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Correct Answer: Option A

Explanation:
GATS came into force in 1995 as part of WTO agreements.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'systemically important financial institution' is one whose failure could:

A. reduce inflation

B. have no effect on the economy

C. benefit other banks

D. trigger a systemic crisis

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Correct Answer: Option D

Explanation:
A systemically important institution is too big or interconnected to fail without causing systemic risk.

This question belongs to: Economy GK Economy Set 1

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