The 'Multilateral Investment Guarantee Agency' is a member of the: MCQ with Answer and Explanation

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The 'Multilateral Investment Guarantee Agency' is a member of the:

A. World Bank Group

B. OECD

C. WTO

D. IMF

Answer: Option A

Solution (By JKSSB Mock Tests)

MIGA is a member of the World Bank Group.

This question belongs to: Economy GK Economy Set 1

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Question #1

Economic rent is the payment to a factor of production:

A. above its transfer earnings

B. equal to its transfer earnings

C. equal to zero

D. below its transfer earnings

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Correct Answer: Option A

Explanation:
Economic rent is the surplus paid to a factor over and above its transfer earnings.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a characteristic of the 'Search Theory' of unemployment?

A. Markets always clear instantaneously

B. Only aggregate demand determines unemployment

C. Unemployment is only classical and caused by high real wages

D. Unemployment arises from the time-consuming process of matching workers and jobs

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Correct Answer: Option D

Explanation:
Search-and-matching theory explains frictional and structural unemployment as the result of imperfect information and the costly process of matching heterogeneous workers with heterogeneous jobs.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act' was enacted in which year?

A. 2002

B. 2010

C. 2005

D. 1999

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Correct Answer: Option A

Explanation:
SARFAESI Act was enacted in 2002.

This question belongs to: Economy GK Economy Set 1

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