The 'Fiscal Responsibility and Budget Management Act' originally targeted elimination of revenue deficit by which year? MCQ with Answer and Explanation

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The 'Fiscal Responsibility and Budget Management Act' originally targeted elimination of revenue deficit by which year?

A. 2013-14

B. 2006-07

C. 2008-09

D. 2010-11

Answer: Option C

Solution (By JKSSB Mock Tests)

FRBM aimed to eliminate revenue deficit by 2008-09.

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 'Liquidity Effect' of an increase in the money supply refers to:

A. Only the rise in prices

B. Only the rise in output

C. The long-run rise in interest rates

D. The short-run decline in nominal interest rates caused by an increase in liquidity

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Correct Answer: Option D

Explanation:
The liquidity effect is the tendency for an exogenous increase in the money supply to lower nominal interest rates in the short run as the supply of loanable funds increases.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'International Monetary Fund' has how many member countries?

A. 193

B. 164

C. 190

D. 150

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Correct Answer: Option C

Explanation:
The IMF has 190 member countries.

This question belongs to: Economy GK Economy Set 1

Question #3

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MGNREGA was enacted in which year?

A. 2005

B. 2007

C. 2010

D. 2003

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Correct Answer: Option A

Explanation:
MGNREGA was enacted in 2005.

This question belongs to: Economy GK Economy Set 1

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