The 'Federal Reserve System' is the central bank of: MCQ with Answer and Explanation

Explanation:
Short-term balance of payments support is primarily the function of the IMF. The World Bank focuses on long-term development finance and poverty reduction.

Explanation:
NAA was headed by a Secretary-level officer.

Explanation:
Necessities like salt have inelastic demand because quantity demanded does not change significantly with price changes. Luxuries tend to have elastic demand.