The 'G20' comprises how many members? MCQ with Answer and Explanation

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The 'G20' comprises how many members?

A. 24 countries

B. 22 countries

C. 19 countries plus EU

D. 20 countries

Answer: Option C

Solution (By JKSSB Mock Tests)

G20 comprises 19 countries and the European Union.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Laffer curve' suggests that beyond a certain tax rate, an increase in the tax rate may:

A. eliminate all tax revenue immediately

B. increase total tax revenue

C. reduce total tax revenue

D. leave revenue unchanged

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Correct Answer: Option C

Explanation:
The Laffer curve suggests very high tax rates can reduce work and investment, lowering tax revenue.

This question belongs to: Economy GK Economy Set 1

Question #2

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The Sensex is a stock market index of the:

A. Multi Commodity Exchange

B. India International Exchange

C. National Stock Exchange

D. Bombay Stock Exchange

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Correct Answer: Option D

Explanation:
The Sensex is the benchmark index of the Bombay Stock Exchange (BSE).

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a feature of the Indian fiscal federalism?

A. Absence of any sharing of taxes

B. Division of tax powers between Centre and States with Finance Commission recommendations

C. Complete centralisation of all taxes

D. Only states collect all major taxes

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Correct Answer: Option B

Explanation:
Indian fiscal federalism involves constitutional division of tax bases between the Centre and States, with the Finance Commission recommending the sharing of divisible taxes and grants.

This question belongs to: Economy GK Economy Set 1

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