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

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The 'International Development Association' lends mainly to:

A. developed countries

B. central banks

C. private corporations

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

The concept of 'Algorithmic Transparency' refers to:

A. Only human decision-making without algorithms

B. The degree to which the functioning, criteria and effects of algorithms used by platforms or public authorities can be understood and scrutinised

C. The complete secrecy of all algorithms

D. Only the source code of open-source software

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Correct Answer: Option B

Explanation:
Algorithmic transparency concerns the extent to which the logic, data and outcomes of algorithmic systems are open to inspection, explanation and accountability by users, regulators or the public.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Index of Eight Core Industries' comprises which proportion of the weight in the Index of Industrial Production?

A. 20%

B. 60%

C. 40%

D. 80%

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Correct Answer: Option C

Explanation:
The eight core industries have a combined weight of about 40.27% in the Index of Industrial Production.

This question belongs to: Economy GK Economy Set 1

Question #3

After 1991, industrial licensing in India was abolished for:

A. only small scale industries

B. no industries

C. all industries including defence

D. most industries except a short list related to security and strategic concerns

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Correct Answer: Option D

Explanation:
Industrial licensing was abolished for most industries, retaining a short list for strategic and security reasons.

This question belongs to: Economy GK Economy Set 1

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