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. 10

B. 12

C. 14

D. 8

Answer: Option A

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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The 'Bretton Woods system' of fixed exchange rates collapsed in which decade?

A. 1970s

B. 1990s

C. 1980s

D. 1950s

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Correct Answer: Option A

Explanation:
The Bretton Woods system collapsed in the early 1970s.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Uncovered Interest Parity' condition states that:

A. expected exchange rate changes offset interest rate differentials

B. interest rates are equal across countries

C. inflation rates are equal across countries

D. capital flows are zero

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Correct Answer: Option A

Explanation:
Uncovered interest parity says the expected exchange rate change equals the interest rate differential.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' rate on luxury cars is:

A. 18%

B. 28%

C. 5%

D. 12%

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Correct Answer: Option B

Explanation:
Luxury cars attract 28% GST plus cess.

This question belongs to: Economy GK Economy Set 1

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