The 'Asian Infrastructure Investment Bank' is headquartered in: MCQ with Answer and Explanation

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The 'Asian Infrastructure Investment Bank' is headquartered in:

A. Tokyo

B. Manila

C. Beijing

D. Singapore

Answer: Option C

Solution (By JKSSB Mock Tests)

The Asian Infrastructure Investment Bank is headquartered in Beijing.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The Phillips curve shows an inverse relationship between:

A. inflation and interest rates

B. inflation and unemployment

C. money supply and price level

D. output and employment

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Correct Answer: Option B

Explanation:
The Phillips curve suggests a short-run trade-off between inflation and unemployment.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of measuring economic progress, the 'Genuine Progress Indicator' attempts to:

A. Adjust GDP by subtracting environmental and social costs and adding non-market benefits

B. Ignore all non-market activities

C. Replace GDP with only environmental indicators

D. Measure only market production

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Correct Answer: Option A

Explanation:
The Genuine Progress Indicator starts from personal consumption expenditure and then adjusts for factors such as income distribution, environmental degradation, and the value of unpaid work to provide a broader measure of welfare.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' is often described as a game-changing reform because it:

A. removed all taxes

B. increased direct tax

C. unified the Indian market and simplified indirect taxes

D. increased many taxes

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Correct Answer: Option C

Explanation:
GST unified the Indian market and simplified indirect taxation.

This question belongs to: Economy GK Economy Set 1

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