The concept of 'Capital Account Liberalisation' involves: MCQ with Answer and Explanation

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The concept of 'Capital Account Liberalisation' involves:

A. Only the liberalisation of the current account

B. Only the liberalisation of trade in goods

C. The removal or relaxation of restrictions on cross-border capital flows

D. The imposition of new capital controls

Answer: Option C

Solution (By JKSSB Mock Tests)

Capital-account liberalisation refers to the reduction or elimination of legal barriers to the free movement of capital across national borders.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Economic Survey' is the annual flagship document of:

A. NITI Aayog

B. Ministry of Finance

C. RBI

D. SEBI

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Correct Answer: Option B

Explanation:
Economic Survey is the flagship annual document of the Ministry of Finance.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is NOT a type of inflation based on cause?

A. Demand-pull inflation

B. Creeping inflation

C. Built-in inflation

D. Cost-push inflation

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Correct Answer: Option B

Explanation:
Creeping inflation is classified on the basis of speed/intensity. Demand-pull, cost-push and built-in (wage-price spiral) are classifications based on causes.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following best describes the evolution of planning in India after 2015?

A. Continuation of mandatory Five Year Plans by the Planning Commission

B. Replacement of the Planning Commission by NITI Aayog with emphasis on cooperative federalism and strategic advice

C. Return to highly centralised planning without state participation

D. Complete abandonment of any form of planning or policy coordination

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Correct Answer: Option B

Explanation:
In 2015 the Planning Commission was replaced by NITI Aayog, which focuses on cooperative federalism, policy advice and knowledge sharing rather than imposing centralised plan targets.

This question belongs to: Economy GK Economy Set 1

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