The 'Bank for International Settlements' was established in which year? MCQ with Answer and Explanation

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The 'Bank for International Settlements' was established in which year?

A. 1930

B. 1919

C. 1944

D. 1971

Answer: Option A

Solution (By JKSSB Mock Tests)

The Bank for International Settlements was established in 1930.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on architectural services is:

A. 12%

B. 18%

C. 5%

D. 28%

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Correct Answer: Option B

Explanation:
Architectural services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

A negative externality occurs when:

A. private cost exceeds social cost

B. private benefit equals social benefit

C. social benefit exceeds private benefit

D. social cost exceeds private cost

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Correct Answer: Option D

Explanation:
A negative externality arises when social cost exceeds private cost, e.g. pollution.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is not a determinant of money demand in Keynesian theory?

A. Precautionary motive

B. Transactions motive

C. Depreciation motive

D. Speculative motive

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Correct Answer: Option C

Explanation:
Keynes identified transactions, precautionary and speculative motives for holding money, not depreciation motive.

This question belongs to: Economy GK Economy Set 1

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