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. London

B. Basel, Switzerland

C. Geneva

D. Washington D.C.

Answer: Option B

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 'GST Council' is chaired by the Union Finance Minister and includes which other representatives?

A. state finance ministers

B. SEBI chairman

C. RBI governor

D. all state chief ministers

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Correct Answer: Option A

Explanation:
The GST Council includes state finance ministers as members, chaired by the Union Finance Minister.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the 'Impossible Trinity' in open economy macroeconomics?

A. All three objectives are always compatible

B. Only fiscal policy is constrained

C. A country can achieve only two of the three: fixed exchange rate, free capital flows and monetary independence

D. A country can simultaneously maintain a fixed exchange rate, free capital mobility and independent monetary policy

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Correct Answer: Option C

Explanation:
The impossible trinity (or trilemma) states that it is impossible for a country to maintain a fixed exchange rate, free capital mobility and an independent monetary policy at the same time.

This question belongs to: Economy GK Economy Set 1

Question #3

In India, the estimate of National Income is usually expressed as:

A. GDP at market prices

B. GNP at market prices

C. NNP at factor cost

D. GDP at factor cost

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Correct Answer: Option C

Explanation:
National Income is conventionally defined as Net National Product at factor cost.

This question belongs to: Economy GK Economy Set 1

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