The 'Bank for International Settlements' is headquartered in: MCQ with Answer and Explanation

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The 'Bank for International Settlements' is headquartered in:

A. Basel

B. London

C. Zurich

D. Geneva

Answer: Option A

Solution (By JKSSB Mock Tests)

The Bank for International Settlements is headquartered in Basel, Switzerland.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on tractors is:

A. 28%

B. 5%

C. 18%

D. 12%

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Correct Answer: Option D

Explanation:
Tractors attract 12% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Reverse Charge Mechanism' under GST shifts the tax liability to:

A. government

B. recipient

C. supplier

D. GST council

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Correct Answer: Option B

Explanation:
Under reverse charge, the recipient of goods or services pays the tax.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Essential Commodities Act' was amended in 2020 to deregulate which commodities?

A. Medicines

B. Petroleum products

C. Cereals, pulses, oilseeds, edible oils and onion

D. Fertilizers

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Correct Answer: Option C

Explanation:
The Essential Commodities (Amendment) Act 2020 deregulated cereals, pulses, oilseeds, edible oils and onion.

This question belongs to: Economy GK Economy Set 1

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