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. 1944

B. 1919

C. 1930

D. 1971

Answer: Option C

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

Under NPA classification, a substandard asset is one that has remained NPA for:

A. only 30 days

B. less than 6 months

C. more than 5 years

D. 12 months or less

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Correct Answer: Option D

Explanation:
A substandard asset is one that has remained NPA for up to 12 months.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of growth theory, 'Semi-Endogenous Growth' models feature:

A. No role for research and development

B. Long-run growth that is fully endogenous to policy

C. Only exogenous technological progress

D. Long-run growth that depends on population growth but not on policy parameters that affect the R&D share

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Correct Answer: Option D

Explanation:
Semi-endogenous growth models retain diminishing returns to knowledge in the R&D sector, so that long-run growth is proportional to population growth and is not affected by the share of resources devoted to R&D.

This question belongs to: Economy GK Economy Set 1

Question #3

Cyclical unemployment is caused by:

A. seasonal changes

B. lack of aggregate demand during economic downturns

C. trade union pressure

D. mismatch of skills

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Correct Answer: Option B

Explanation:
Cyclical unemployment is caused by deficient aggregate demand during recessions.

This question belongs to: Economy GK Economy Set 1

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