The 'Bretton Woods twins' refer to: MCQ with Answer and Explanation

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The 'Bretton Woods twins' refer to:

A. ILO and WHO

B. WTO and UNCTAD

C. UNESCO and FAO

D. IMF and World Bank

Answer: Option D

Solution (By JKSSB Mock Tests)

The IMF and World Bank are known as the Bretton Woods twins.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of consumer theory, the budget line represents:

A. Combinations of prices that maximise profit

B. Combinations of inputs that give the same output

C. Combinations of goods that give the same utility

D. Combinations of goods that can be purchased with a given income and prices

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Correct Answer: Option D

Explanation:
The budget line shows all possible combinations of two goods that a consumer can afford given his money income and the prices of the goods.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'euro' currency was introduced as an accounting currency in which year?

A. 2005

B. 2002

C. 1999

D. 1992

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Correct Answer: Option C

Explanation:
The euro was introduced in bookkeeping form in 1999, with physical notes and coins in 2002.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' rate on gold in India is:

A. 3%

B. 5%

C. 0%

D. 12%

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Correct Answer: Option A

Explanation:
Gold and jewellery attract 3% GST.

This question belongs to: Economy GK Economy Set 1

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