The 'G-20' is a group of: MCQ with Answer and Explanation

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The 'G-20' is a group of:

A. 20 African countries

B. 20 EU countries

C. 20 poorest countries

D. major advanced and emerging economies

Answer: Option D

Solution (By JKSSB Mock Tests)

The G20 is a group of major advanced and emerging economies.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In India, the repo rate is decided by:

A. Monetary Policy Committee

B. RBI Governor

C. NITI Aayog

D. Finance Minister

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Correct Answer: Option A

Explanation:
The Monetary Policy Committee of the RBI decides the policy repo rate.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'National Investment and Manufacturing Zones' are part of which policy?

A. Digital India

B. Skill India

C. National Manufacturing Policy

D. Startup India

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Correct Answer: Option C

Explanation:
National Investment and Manufacturing Zones are part of the National Manufacturing Policy.

This question belongs to: Economy GK Economy Set 1

Question #3

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Veblen goods are demanded mainly because:

A. they are necessities

B. their price is low

C. they have many substitutes

D. high price confers prestige or status

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Correct Answer: Option D

Explanation:
Veblen goods are conspicuous consumption goods where a higher price increases their status value.

This question belongs to: Economy GK Economy Set 1

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