The 'BIMSTEC' grouping includes how many member countries? MCQ with Answer and Explanation

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The 'BIMSTEC' grouping includes how many member countries?

A. 10

B. 5

C. 7

D. 8

Answer: Option C

Solution (By JKSSB Mock Tests)

BIMSTEC has 7 member countries.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'monetary policy framework' in India legally mandates RBI to target:

A. exchange rate

B. GDP growth

C. consumer price inflation

D. fiscal deficit

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Correct Answer: Option C

Explanation:
The RBI's monetary policy framework targets consumer price inflation.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Laffer curve' suggests that beyond a certain tax rate, an increase in the tax rate may:

A. increase total tax revenue

B. eliminate all tax revenue immediately

C. leave revenue unchanged

D. reduce total tax revenue

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Correct Answer: Option D

Explanation:
The Laffer curve suggests very high tax rates can reduce work and investment, lowering tax revenue.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'gender budgeting' in India refers to:

A. budget for defence

B. budget for women only

C. analysis of budget allocations from a gender perspective

D. tax on women

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Correct Answer: Option C

Explanation:
Gender budgeting involves analyzing government budgets for their impact on women and girls.

This question belongs to: Economy GK Economy Set 1

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