The 'ICRA' in India is a: MCQ with Answer and Explanation

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The 'ICRA' in India is a:

A. stock exchange

B. insurance company

C. bank

D. credit rating agency

Answer: Option D

Solution (By JKSSB Mock Tests)

ICRA is a credit rating agency.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'long-run aggregate supply curve' is:

A. downward sloping

B. horizontal

C. vertical

D. U-shaped

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Correct Answer: Option C

Explanation:
The long-run aggregate supply curve is vertical at the full employment level of output.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a characteristic of the 'Catch-up' or 'Convergence' hypothesis in growth theory?

A. Poorer economies tend to grow faster than richer ones, conditional on similar steady-state determinants

B. Only absolute convergence always holds unconditionally

C. Richer economies always grow faster

D. There is no tendency for convergence

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Correct Answer: Option A

Explanation:
Conditional convergence predicts that countries with lower initial income per worker grow faster once differences in saving rates, population growth and technology are controlled for.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'National Bank for Agriculture and Rural Development' was established in which year?

A. 1991

B. 1975

C. 1969

D. 1982

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Correct Answer: Option D

Explanation:
NABARD was established in 1982.

This question belongs to: Economy GK Economy Set 1

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