The 'Basel Committee on Banking Supervision' is headquartered at: MCQ with Answer and Explanation

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The 'Basel Committee on Banking Supervision' is headquartered at:

A. Washington D.C.

B. Geneva

C. Basel, Switzerland

D. London

Answer: Option C

Solution (By JKSSB Mock Tests)

The Basel Committee is headquartered at the Bank for International Settlements 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 concept of 'Marginal Efficiency of Capital' was introduced by:

A. John Maynard Keynes

B. David Ricardo

C. Classical economists

D. Adam Smith

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Correct Answer: Option A

Explanation:
Keynes introduced the concept of Marginal Efficiency of Capital (MEC), which is the expected rate of return on an additional unit of capital asset.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Planning Commission' formulated how many Five Year Plans before being dissolved?

A. 13

B. 11

C. 10

D. 12

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Correct Answer: Option D

Explanation:
India had 12 Five Year Plans formulated by the Planning Commission.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'veblen effect' is associated with:

A. homogeneous goods

B. conspicuous consumption where higher prices increase demand

C. perfect competition

D. inferior goods

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Correct Answer: Option B

Explanation:
Veblen effect occurs when higher prices increase the prestige of a good and therefore its demand.

This question belongs to: Economy GK Economy Set 1

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