The 'Jamaica Accords' of 1976 formally recognized: MCQ with Answer and Explanation

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The 'Jamaica Accords' of 1976 formally recognized:

A. floating exchange rates

B. the euro currency

C. a single world currency

D. the gold standard

Answer: Option A

Solution (By JKSSB Mock Tests)

The Jamaica Accords formalized floating exchange rates.

This question belongs to: Economy GK Economy Set 1

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Question #1

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In the context of labour-market institutions, the 'Ghent System' refers to:

A. A pure market system without any unions

B. Only government-run unemployment insurance with no union role

C. A system in which trade unions play a major role in the administration of unemployment insurance, contributing to high union density

D. Only private insurance markets

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Correct Answer: Option C

Explanation:
The Ghent system, historically associated with certain Nordic and Low Countries, links unemployment benefits to union membership or administration, thereby providing a selective incentive for workers to join unions.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'GST Network' was incorporated in which year?

A. 2013

B. 2016

C. 2012

D. 2014

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Correct Answer: Option A

Explanation:
GSTN was incorporated in 2013.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Fiscal deficit' is financed by:

A. only disinvestment

B. market borrowings and other liabilities

C. only taxes

D. only foreign aid

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Correct Answer: Option B

Explanation:
Fiscal deficit is financed through market borrowings and other liabilities.

This question belongs to: Economy GK Economy Set 1

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