The 'Economic Community of West African States' promotes economic integration in: MCQ with Answer and Explanation

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The 'Economic Community of West African States' promotes economic integration in:

A. West Africa

B. Asia

C. Europe

D. South America

Answer: Option A

Solution (By JKSSB Mock Tests)

ECOWAS promotes economic integration in West Africa.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a characteristic of the 'Liquidity Coverage Ratio' under Basel III?

A. It requires banks to hold sufficient high-quality liquid assets to cover net cash outflows over 30 days

B. It is related only to capital adequacy

C. It applies only to non-bank financial institutions

D. It measures only long-term funding stability

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Correct Answer: Option A

Explanation:
The Liquidity Coverage Ratio (LCR) requires banks to maintain an adequate stock of unencumbered high-quality liquid assets that can be converted into cash to meet liquidity needs for a 30-calendar-day stress scenario.

This question belongs to: Economy GK Economy Set 1

Question #2

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The concept of 'Automatic Stabilisers' in fiscal policy includes:

A. Open market operations

B. Changes in bank rate

C. Discretionary changes in tax rates

D. Progressive taxation and unemployment benefits

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Correct Answer: Option D

Explanation:
Automatic stabilisers such as progressive income taxes and unemployment benefits automatically moderate economic fluctuations without requiring new policy decisions.

This question belongs to: Economy GK Economy Set 1