The 'Monetary Policy Committee' meets at least how many times in a financial year? MCQ with Answer and Explanation

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The 'Monetary Policy Committee' meets at least how many times in a financial year?

A. 6

B. 4

C. 2

D. 12

Answer: Option B

Solution (By JKSSB Mock Tests)

The MPC meets at least four times a year.

This question belongs to: Economy GK Economy Set 1

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Question #1

Who is the ex-officio Chairperson of NITI Aayog?

A. President

B. Vice President

C. Finance Minister

D. Prime Minister

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Correct Answer: Option D

Explanation:
The Prime Minister is the ex-officio Chairperson of NITI Aayog.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Liquidity Trap' implies that monetary policy becomes ineffective because:

A. People prefer to hold cash at very low interest rates

B. Investment is highly interest-elastic

C. Money demand is interest-inelastic

D. Interest rates are very high

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Correct Answer: Option A

Explanation:
In a liquidity trap, interest rates are near zero and the demand for money becomes perfectly elastic; additional money supply is absorbed as idle balances without reducing interest rates further.

This question belongs to: Economy GK Economy Set 1

Question #3

The Minimum Support Price is announced by the government on the recommendation of:

A. RBI

B. Food Corporation of India

C. NABARD

D. Commission for Agricultural Costs and Prices

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Correct Answer: Option D

Explanation:
MSP is recommended by the Commission for Agricultural Costs and Prices and announced by the government.

This question belongs to: Economy GK Economy Set 1

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