The 'Financial Action Task Force' is an intergovernmental body that combats: MCQ with Answer and Explanation

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The 'Financial Action Task Force' is an intergovernmental body that combats:

A. money laundering and terrorist financing

B. trade deficits

C. inflation

D. unemployment

Answer: Option A

Solution (By JKSSB Mock Tests)

FATF combats money laundering and terrorist financing.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on software services is:

A. 12%

B. 28%

C. 5%

D. 18%

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Correct Answer: Option D

Explanation:
Software services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is an example of a transfer payment?

A. Pension paid to retired employees

B. Interest paid on government borrowings

C. Salary paid to government employees

D. Payment for purchase of goods

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Correct Answer: Option A

Explanation:
Transfer payments are unilateral payments for which no goods or services are received in return, such as pensions, scholarships and unemployment allowances. Interest on borrowings is also a transfer, but pension is a classic example.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the '15-Minute City' concept?

A. A purely residential suburb without services

B. A city in which all travel requires long car journeys

C. An urban planning model in which most daily needs can be met within a short walk or cycle from home

D. Only a high-speed transport network without local amenities

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Correct Answer: Option C

Explanation:
The 15-minute city is an urban design principle that aims to ensure that residents can access work, shopping, education, healthcare and leisure within a 15-minute walk or bicycle ride from their homes.

This question belongs to: Economy GK Economy Set 1

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