The 'International Monetary Fund' Extended Fund Facility provides: MCQ with Answer and Explanation

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The 'International Monetary Fund' Extended Fund Facility provides:

A. medium-term support for structural balance of payments problems

B. grants to all countries

C. only technical assistance

D. short-term loans

Answer: Option A

Solution (By JKSSB Mock Tests)

The Extended Fund Facility provides medium-term support for countries with structural BoP problems.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a feature of 'Open-Source' models of innovation?

A. Only closed innovation within a single firm

B. Collaborative development in which the source code or design is made publicly available and can be modified and redistributed

C. Complete proprietary control of all code

D. Only government-mandated standards

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Correct Answer: Option B

Explanation:
Open-source models rely on the public availability of source code or designs, enabling collaborative improvement, redistribution and the emergence of communities of developers around shared resources.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Liquidity Preference' includes which of the following motives?

A. Only transactions motive

B. Transactions, precautionary and speculative motives

C. Only precautionary motive

D. Only speculative motive

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Correct Answer: Option B

Explanation:
According to Keynes, the demand for money (liquidity preference) arises from three motives: transactions, precautionary and speculative.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of fiscal policy, 'Automatic Stabilisers' operate through:

A. Only exchange-rate adjustments

B. Built-in features of the tax and transfer system that dampen fluctuations without discretionary action

C. Only changes in the monetary base

D. Only discretionary changes in spending

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Correct Answer: Option B

Explanation:
Automatic stabilisers are elements of the fiscal system—progressive taxes and unemployment benefits—that automatically reduce the amplitude of business-cycle fluctuations without the need for new legislation.

This question belongs to: Economy GK Economy Set 1

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