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. WTO

B. UNCTAD

C. IMF

D. World Bank Group

Answer: Option D

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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Question #1

The 'Startup India' action plan was launched in which year?

A. 2017

B. 2014

C. 2018

D. 2016

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Correct Answer: Option D

Explanation:
Startup India was launched in January 2016.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' rate on postal services is:

A. 0%

B. 5%

C. 12%

D. 18%

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Correct Answer: Option A

Explanation:
Postal services by the Department of Posts are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Fiscal Drag' refers to:

A. Deliberate reduction in government spending

B. Increase in fiscal deficit

C. Automatic increase in tax revenue due to inflation

D. Decrease in tax rates

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Correct Answer: Option C

Explanation:
Fiscal drag occurs when inflation pushes taxpayers into higher tax brackets, increasing tax revenue without any change in tax rates, acting as an automatic stabiliser.

This question belongs to: Economy GK Economy Set 1

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