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. South America

B. Europe

C. Asia

D. West Africa

Answer: Option D

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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Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on entertainment events is:

A. 12%

B. 18%

C. 5%

D. 28%

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Correct Answer: Option B

Explanation:
Entertainment events generally attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Macroprudential Policy' aims at:

A. Only fiscal sustainability

B. Only price stability

C. Limiting systemic risk and ensuring the stability of the financial system as a whole

D. Only the soundness of individual institutions

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Correct Answer: Option C

Explanation:
Macroprudential policy uses regulatory and supervisory tools to mitigate systemic risk and to increase the resilience of the financial system as a whole, complementing microprudential supervision of individual institutions.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a stock variable?

A. National income

B. Government expenditure

C. Capital stock

D. Investment expenditure

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Correct Answer: Option C

Explanation:
Capital stock is measured at a point of time and is therefore a stock variable.

This question belongs to: Economy GK Economy Set 1

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