The 'New Development Bank' established by BRICS countries is headquartered in: MCQ with Answer and Explanation

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The 'New Development Bank' established by BRICS countries is headquartered in:

A. Shanghai

B. Moscow

C. New Delhi

D. Beijing

Answer: Option A

Solution (By JKSSB Mock Tests)

The New Development Bank is headquartered in Shanghai, China.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The concept of 'Creative Accounting' in public finance refers to:

A. Accounting practices that improve the reported fiscal position without improving the underlying fiscal reality

B. Only the use of accrual accounting

C. Only the calculation of primary deficit

D. Transparent and accurate fiscal reporting

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Correct Answer: Option A

Explanation:
Creative accounting (or fiscal gimmickry) involves the use of accounting devices that temporarily improve reported deficit or debt figures without a corresponding improvement in the true intertemporal fiscal position.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'High Yielding Variety Programme' was launched in:

A. 1972

B. 1956

C. 1966

D. 1980

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Correct Answer: Option C

Explanation:
The High Yielding Variety Programme was launched in 1966.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of Indian public finance, 'Effective Revenue Deficit' is defined as:

A. Primary deficit plus interest payments

B. Fiscal deficit minus interest payments

C. Revenue deficit minus grants for creation of capital assets

D. Revenue deficit plus capital expenditure

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Correct Answer: Option C

Explanation:
Effective Revenue Deficit is Revenue Deficit minus grants given by the Centre to states and union territories for the creation of capital assets.

This question belongs to: Economy GK Economy Set 1

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