The 'Bank of Japan' is the central bank of: MCQ with Answer and Explanation

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The 'Bank of Japan' is the central bank of:

A. Taiwan

B. Japan

C. China

D. South Korea

Answer: Option B

Solution (By JKSSB Mock Tests)

The Bank of Japan is the central bank of Japan.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a feature of 'Nudge' theory in behavioural public policy?

A. The complete rejection of any behavioural interventions

B. Only financial incentives

C. The use of choice architecture to steer people toward better decisions without restricting their freedom of choice

D. The use of mandates and bans only

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Correct Answer: Option C

Explanation:
A nudge is any aspect of choice architecture that alters people’s behaviour in a predictable way without forbidding any options or significantly changing economic incentives, as popularised by Thaler and Sunstein.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a feature of the 'Buffer-Stock' theory of money demand?

A. Only the transactions motive matters and uncertainty is irrelevant

B. Money demand is independent of uncertainty

C. Individuals hold money as a buffer against unforeseen fluctuations in income and expenditure

D. Money is held only for speculative purposes

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Correct Answer: Option C

Explanation:
Buffer-stock models emphasise that money balances serve as a short-run shock absorber, allowing agents to smooth consumption in the face of transitory income or expenditure shocks.

This question belongs to: Economy GK Economy Set 1