The 'Asian Development Bank' was established in which year? MCQ with Answer and Explanation

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The 'Asian Development Bank' was established in which year?

A. 1966

B. 1971

C. 1944

D. 1995

Answer: Option A

Solution (By JKSSB Mock Tests)

The Asian Development Bank was established in 1966.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on ready-to-move-in property is:

A. not applicable

B. 18%

C. 5%

D. 12%

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Correct Answer: Option A

Explanation:
Ready-to-move-in property is not subject to GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The Coase theorem suggests that private bargaining can solve externality problems if:

A. the market is monopolized

B. transaction costs are low and property rights are clearly defined

C. transaction costs are high and property rights are unclear

D. the government imposes taxes

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Correct Answer: Option B

Explanation:
The Coase theorem states that with low transaction costs and clearly defined property rights, private parties can resolve externalities.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Economic Survey' is usually authored by:

A. SEBI

B. Chief Economic Adviser's team in the Ministry of Finance

C. RBI

D. NITI Aayog

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Correct Answer: Option B

Explanation:
The Economic Survey is prepared by the Chief Economic Adviser's team.

This question belongs to: Economy GK Economy Set 1

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