The 'currency swap' between two central banks is: MCQ with Answer and Explanation

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The 'currency swap' between two central banks is:

A. a loan of domestic currency against foreign currency with an agreement to reverse later

B. purchase of gold

C. import of goods

D. permanent exchange of currencies

Answer: Option A

Solution (By JKSSB Mock Tests)

A currency swap is a temporary exchange of currencies between central banks to provide liquidity.

This question belongs to: Economy GK Economy Set 1

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The 'Goods and Services Tax' rate on education services is:

A. 18%

B. 12%

C. 5%

D. 0%

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Correct Answer: Option D

Explanation:
Education services provided by educational institutions are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the Indian capital market?

A. Absence of regulatory bodies

B. No role of mutual funds

C. Only short-term instruments

D. Presence of stock exchanges and long-term instruments

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Correct Answer: Option D

Explanation:
The Indian capital market deals with long-term funds and includes stock exchanges, bonds, equities and mutual funds, regulated by SEBI.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'United Nations' has how many principal organs?

A. 7

B. 6

C. 5

D. 4

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Correct Answer: Option B

Explanation:
The United Nations has six principal organs.

This question belongs to: Economy GK Economy Set 1

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