The 'Economic and Social Council' is one of the principal organs of: MCQ with Answer and Explanation

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The 'Economic and Social Council' is one of the principal organs of:

A. WTO

B. World Bank

C. United Nations

D. IMF

Answer: Option C

Solution (By JKSSB Mock Tests)

The Economic and Social Council is a principal organ of the United Nations.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

External economies of scale are enjoyed by a firm when:

A. it reduces prices

B. it merges with another firm

C. the entire industry expands

D. the firm increases its own size

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Correct Answer: Option C

Explanation:
External economies arise from expansion of the industry as a whole, benefiting all firms.

This question belongs to: Economy GK Economy Set 1

Question #2

Transfer payments are excluded from national income because they:

A. do not correspond to current production of goods and services

B. are paid to foreigners

C. are paid in cash

D. are included in personal income

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Correct Answer: Option A

Explanation:
Transfer payments are one-sided payments with no corresponding production of goods or services.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' rate on tea and coffee is:

A. 18%

B. 0%

C. 5%

D. 12%

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Correct Answer: Option C

Explanation:
Tea and coffee attract 5% GST.

This question belongs to: Economy GK Economy Set 1

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