The Balance of Payments is a systematic record of: MCQ with Answer and Explanation

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The Balance of Payments is a systematic record of:

A. only visible trade

B. only foreign direct investment

C. only government borrowing

D. all economic transactions between residents of a country and the rest of the world

Answer: Option D

Solution (By JKSSB Mock Tests)

The Balance of Payments records all economic transactions between residents and the rest of the world.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

In the context of economic development, the 'Big Push' theory is associated with:

A. Complete reliance on market forces

B. Gradualism in investment

C. Only agricultural development

D. The need for a minimum quantum of investment to overcome indivisibilities

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Correct Answer: Option D

Explanation:
The Big Push theory, associated with Rosenstein-Rodan, argues that a large, coordinated investment is required to overcome complementarities and indivisibilities in developing economies.

This question belongs to: Economy GK Economy Set 1

Question #2

The primary market deals with:

A. trading of existing shares

B. foreign currency

C. new issue of securities

D. only government bonds

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Correct Answer: Option C

Explanation:
The primary market deals with the issuance of new securities.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Aadhaar Enabled Payment System' uses which biometric identifier?

A. Fingerprint and iris

B. Only voice

C. Only PIN

D. Only password

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Correct Answer: Option A

Explanation:
AEPS uses Aadhaar number and biometric authentication such as fingerprint or iris.

This question belongs to: Economy GK Economy Set 1

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