The 'International Development Association' lends mainly to: MCQ with Answer and Explanation

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The 'International Development Association' lends mainly to:

A. private corporations

B. developed countries

C. central banks

D. poorest developing countries on concessional terms

Answer: Option D

Solution (By JKSSB Mock Tests)

IDA provides concessional loans and grants to the world's poorest countries.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a feature of the 'Special Drawing Rights' allocation by the IMF?

A. SDRs can be used only for domestic fiscal spending

B. SDRs are a form of private cryptocurrency

C. A general allocation of SDRs provides unconditional liquidity to member countries in proportion to their quotas

D. SDRs are only available to countries with balance-of-payments needs under strict conditionality

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Correct Answer: Option C

Explanation:
A general SDR allocation distributes new SDRs to all IMF members in proportion to their quotas, thereby increasing global liquidity without the policy conditionality attached to IMF lending programmes.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Equal Remuneration Act' was enacted in India in which year?

A. 1986

B. 1980

C. 1970

D. 1976

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Correct Answer: Option D

Explanation:
The Equal Remuneration Act was enacted in 1976.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of the Classical theory of interest?

A. Interest is determined by demand and supply of real savings and investment

B. Interest is determined by demand and supply of money

C. Interest is a monetary phenomenon only

D. Liquidity preference determines interest

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Correct Answer: Option A

Explanation:
In classical theory, the rate of interest is a real phenomenon determined by the demand for investment and the supply of savings.

This question belongs to: Economy GK Economy Set 1

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