The 'Bharat QR code' is used for: MCQ with Answer and Explanation

Question

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The 'Bharat QR code' is used for:

A. digital payments at merchant locations

B. land records

C. railway ticket booking

D. passport verification

Answer: Option A

Solution (By JKSSB Mock Tests)

Bharat QR code is used for QR-based digital payments at merchants.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Fisher effect' suggests that if expected inflation rises by 1%, nominal interest rates:

A. fall by 1%

B. fall by more than 1%

C. rise by about 1%

D. remain unchanged

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Correct Answer: Option C

Explanation:
The Fisher effect indicates nominal interest rates rise with expected inflation one-for-one in the long run.

This question belongs to: Economy GK Economy Set 1

Question #2

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In the context of exchange-rate regimes, a 'Currency Board' arrangement is characterised by:

A. Only a crawling peg

B. Complete monetary discretion without any reserve backing

C. A freely floating exchange rate

D. A fixed exchange rate backed by a full foreign-exchange reserve cover of the monetary base and limited monetary discretion

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Correct Answer: Option D

Explanation:
A currency board maintains a fixed exchange rate to an anchor currency, backs the entire monetary base with foreign reserves, and severely restricts the scope for discretionary monetary policy.

This question belongs to: Economy GK Economy Set 1

Question #3

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The Fifteenth Finance Commission was headed by:

A. Vijay Kelkar

B. Y.V. Reddy

C. C. Rangarajan

D. N.K. Singh

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Correct Answer: Option D

Explanation:
The Fifteenth Finance Commission was headed by N.K. Singh.

This question belongs to: Economy GK Economy Set 1

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