The 'Export Import Bank of India' provides: MCQ with Answer and Explanation

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The 'Export Import Bank of India' provides:

A. crop loans

B. microfinance

C. retail banking

D. export credit and finance

Answer: Option D

Solution (By JKSSB Mock Tests)

EXIM Bank provides export credit and finance.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of monetary economics, the 'Friedman Rule' recommends that:

A. Money growth should equal the growth of real output plus inflation

B. The nominal interest rate should be set to zero

C. Only fiscal policy should be used

D. The nominal interest rate should be set equal to the real interest rate plus inflation

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Correct Answer: Option B

Explanation:
The Friedman rule states that the optimal monetary policy sets the nominal interest rate to zero so that the opportunity cost of holding real money balances equals the social cost of producing them (approximately zero).

This question belongs to: Economy GK Economy Set 1

Question #2

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In a Lorenz curve diagram, the diagonal line represents:

A. perfect equality of income distribution

B. economic growth

C. poverty line

D. complete income inequality

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Correct Answer: Option A

Explanation:
The diagonal line in the Lorenz curve diagram represents perfect income equality.

This question belongs to: Economy GK Economy Set 1

Question #3

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The slope of the budget line is equal to:

A. Px multiplied by Py

B. Px plus Py

C. Py divided by Px

D. negative Px divided by Py

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Correct Answer: Option D

Explanation:
The budget line slope is -Px/Py, where Px is price of good X and Py is price of good Y.

This question belongs to: Economy GK Economy Set 1

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