The 'International Bank for Reconstruction and Development' is a part of: MCQ with Answer and Explanation

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The 'International Bank for Reconstruction and Development' is a part of:

A. UNCTAD

B. World Bank Group

C. WTO

D. IMF

Answer: Option B

Solution (By JKSSB Mock Tests)

IBRD is part of the World Bank Group.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Advance tax is income tax that is:

A. paid in advance in instalments during the financial year

B. paid after the end of the financial year

C. paid only by companies

D. refunded by the government

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Correct Answer: Option A

Explanation:
Advance tax is paid in advance in instalments during the financial year instead of a lump sum at the end.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'monetary policy framework' in India legally mandates RBI to target:

A. consumer price inflation

B. exchange rate

C. GDP growth

D. fiscal deficit

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Correct Answer: Option A

Explanation:
The RBI's monetary policy framework targets consumer price inflation.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Tragedy of the Commons' illustrates:

A. The benefits of free access to all resources

B. The overuse of a common-pool resource when property rights are not well defined

C. The efficient use of private goods

D. The under-provision of public goods only

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Correct Answer: Option B

Explanation:
The tragedy of the commons describes the tendency for a shared, non-excludable but rivalrous resource to be over-exploited when individual users do not bear the full social cost of their actions.

This question belongs to: Economy GK Economy Set 1

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