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

Question
The 'Financial Action Task Force' is an intergovernmental body that combats:
A. unemployment
B. money laundering and terrorist financing
C. trade deficits
D. inflation
Answer: Option B
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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Practice More Economy Set 1 Questions

Question #1
A contractionary fiscal policy consists of:
A. increasing money supply
B. reducing government spending or increasing taxes
C. increasing government spending and cutting taxes
D. lowering interest rates
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Correct Answer: Option B

Explanation:
Contractionary fiscal policy reduces aggregate demand by cutting spending or raising taxes.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a feature of the 'Covered Interest Parity' condition?
A. Exchange rates are fixed
B. Only uncovered interest parity holds
C. The interest differential between two countries equals the forward premium or discount on the exchange rate
D. Interest rates are always equal across countries
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Correct Answer: Option C

Explanation:
Covered interest parity states that the interest rate differential between two currencies equals the forward premium or discount, eliminating covered arbitrage opportunities.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'Generalized System of Preferences' allows developed countries to:
A. ban imports from developing countries
B. impose higher tariffs on developing countries
C. harmonize exchange rates
D. grant preferential tariff treatment to developing countries
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Correct Answer: Option D

Explanation:
GSP allows developed countries to grant preferential tariff treatment to developing countries.
This question belongs to: Economy GK Economy Set 1
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