The 'countervailing duty' is imposed to countervail: MCQ with Answer and Explanation

The 'countervailing duty' is imposed to countervail:
A. dumping
B. foreign export subsidies
C. high tariffs
D. currency depreciation
Answer: Option B
Solution (By JKSSB Mock Tests)
Countervailing duties offset foreign subsidies on exports.

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Practice More Economy Set 1 Questions

Question #1
The slope of an isoquant is called the:
A. marginal rate of substitution
B. marginal rate of technical substitution
C. price ratio
D. marginal utility ratio

Correct Answer: Option B


Explanation:
The slope of an isoquant is the marginal rate of technical substitution, the rate at which one input can substitute for another keeping output constant.

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is NOT a type of deposit accepted by commercial banks?
A. Saving deposits
B. Time deposits
C. Equity deposits
D. Demand deposits

Correct Answer: Option C


Explanation:
Commercial banks accept demand deposits (current accounts), savings deposits and time (fixed) deposits. Equity deposits are not a standard category of bank deposits.

This question belongs to: Economy GK Economy Set 1
Question #3
Unified Payments Interface enables:
A. only government payments
B. only cheque clearing
C. instant interbank transfer using a virtual payment address
D. only credit card payments

Correct Answer: Option C


Explanation:
UPI enables instant interbank transfers through virtual payment addresses using mobile devices.

This question belongs to: Economy GK Economy Set 1