The 'circular flow of income' in a three-sector economy includes: MCQ with Answer and Explanation

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The 'circular flow of income' in a three-sector economy includes:

A. firms and government only

B. households, firms and government

C. households, firms and foreign sector

D. government and foreign sector only

Answer: Option B

Solution (By JKSSB Mock Tests)

A three-sector economy includes households, firms and government.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Human Capital Index' is published by:

A. UNDP

B. UNESCO

C. IMF

D. World Bank

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Correct Answer: Option D

Explanation:
The Human Capital Index is published by the World Bank.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'World Trade Organization' has how many members?

A. 200

B. about 120

C. 190

D. 164

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Correct Answer: Option D

Explanation:
The WTO has 164 members.

This question belongs to: Economy GK Economy Set 1

Question #3

The primary market deals with:

A. only government bonds

B. trading of existing shares

C. new issue of securities

D. foreign currency

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Correct Answer: Option C

Explanation:
The primary market deals with the issuance of new securities.

This question belongs to: Economy GK Economy Set 1

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