The 'International Poverty Line' of the World Bank is currently set at: MCQ with Answer and Explanation

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The 'International Poverty Line' of the World Bank is currently set at:

A. USD 2.15 per day in 2017 PPP

B. USD 10 per day

C. USD 1.00 per day

D. USD 5.50 per day

Answer: Option A

Solution (By JKSSB Mock Tests)

The World Bank's international poverty line is USD 2.15 per day in 2017 PPP.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Economic Survey' is usually authored by:

A. SEBI

B. Chief Economic Adviser's team in the Ministry of Finance

C. NITI Aayog

D. RBI

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Correct Answer: Option B

Explanation:
The Economic Survey is prepared by the Chief Economic Adviser's team.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a characteristic of a command economy?

A. Prices determined solely by market forces

B. Consumer sovereignty as the guiding principle

C. Central authority allocates resources according to a plan

D. Decentralised decision making by private firms

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Correct Answer: Option C

Explanation:
In a command (planned) economy, a central planning authority makes major decisions regarding production, allocation of resources and distribution of goods.

This question belongs to: Economy GK Economy Set 1

Question #3

The Marginal Standing Facility rate is generally set how much above the repo rate?

A. 1.00 percentage point

B. 0.50 percentage points

C. 2.00 percentage points

D. 0.25 percentage points

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Correct Answer: Option D

Explanation:
The MSF rate is usually 0.25 percentage points above the repo rate.

This question belongs to: Economy GK Economy Set 1

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