The 'International Monetary Fund' was established in 1944 but began operations in which year? MCQ with Answer and Explanation

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The 'International Monetary Fund' was established in 1944 but began operations in which year?

A. 1945

B. 1947

C. 1952

D. 1950

Answer: Option B

Solution (By JKSSB Mock Tests)

The IMF began operations in 1947.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Which of the following is an example of a transfer payment?

A. Payment for purchase of goods

B. Interest paid on government borrowings

C. Salary paid to government employees

D. Pension paid to retired employees

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Correct Answer: Option D

Explanation:
Transfer payments are unilateral payments for which no goods or services are received in return, such as pensions, scholarships and unemployment allowances. Interest on borrowings is also a transfer, but pension is a classic example.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Code on Social Security' was passed in which year?

A. 2020

B. 2019

C. 2022

D. 2021

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Correct Answer: Option A

Explanation:
The Code on Social Security was passed in 2020.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Employees' State Insurance Corporation' provides which type of social security?

A. housing loans

B. health insurance, sickness and maternity benefits

C. old age pension only

D. education loans

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Correct Answer: Option B

Explanation:
ESIC provides health insurance, sickness, maternity and disability benefits to insured workers.

This question belongs to: Economy GK Economy Set 1

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