The 'currency futures' are standardized contracts to exchange currencies at a future date and are traded on: MCQ with Answer and Explanation

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The 'currency futures' are standardized contracts to exchange currencies at a future date and are traded on:

A. commercial banks only

B. RBI only

C. stock exchanges

D. over-the-counter only

Answer: Option C

Solution (By JKSSB Mock Tests)

Currency futures are exchange-traded standardized contracts.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of elasticity of demand, which of the following goods is likely to have inelastic demand?

A. Air conditioners

B. Salt

C. Jewellery

D. Luxury cars

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Correct Answer: Option B

Explanation:
Necessities like salt have inelastic demand because quantity demanded does not change significantly with price changes. Luxuries tend to have elastic demand.

This question belongs to: Economy GK Economy Set 1

Question #2

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Stagflation refers to a situation of:

A. high inflation and high unemployment

B. low inflation and high growth

C. high inflation and high growth

D. deflation and high growth

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Correct Answer: Option A

Explanation:
Stagflation is a combination of stagnation (high unemployment) and inflation.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Paris Agreement' on climate change was adopted in which year?

A. 2016

B. 2015

C. 2012

D. 2018

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Correct Answer: Option B

Explanation:
The Paris Agreement was adopted in 2015.

This question belongs to: Economy GK Economy Set 1

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