The 'International Monetary Fund' headquarters is in: MCQ with Answer and Explanation

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The 'International Monetary Fund' headquarters is in:

A. Paris

B. New York

C. Geneva

D. Washington D.C.

Answer: Option D

Solution (By JKSSB Mock Tests)

IMF headquarters is in Washington D.C.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is NOT a feature of the Keynesian theory?

A. Possibility of underemployment equilibrium

B. Importance of government intervention

C. Wage-price flexibility ensuring full employment

D. Emphasis on effective demand

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Correct Answer: Option C

Explanation:
Keynes rejected the classical assumption of wage-price flexibility leading to automatic full employment. He argued that underemployment equilibrium is possible.

This question belongs to: Economy GK Economy Set 1

Question #2

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In the context of banking theory, the 'Diamond-Dybvig' model explains:

A. Only the role of banks in solving adverse selection

B. The existence of banks as providers of liquidity insurance and the possibility of bank runs

C. Why banks never face runs

D. Only the role of banks in monitoring firms

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Correct Answer: Option B

Explanation:
The Diamond-Dybvig model shows that banks transform illiquid assets into liquid liabilities, providing liquidity insurance to depositors, but that this arrangement is vulnerable to self-fulfilling runs.

This question belongs to: Economy GK Economy Set 1