The 'optimal currency area' theory was developed by: MCQ with Answer and Explanation

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The 'optimal currency area' theory was developed by:

A. Robert Mundell

B. Paul Krugman

C. John Maynard Keynes

D. Milton Friedman

Answer: Option A

Solution (By JKSSB Mock Tests)

Robert Mundell developed the theory of optimal currency areas.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'stagflation' is a combination of:

A. high inflation and low unemployment

B. low inflation and high unemployment

C. high inflation and high unemployment

D. low inflation and low unemployment

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Correct Answer: Option C

Explanation:
Stagflation is high inflation combined with high unemployment and stagnant demand.

This question belongs to: Economy GK Economy Set 1

Question #2

PM Gati Shakti is a national master plan for:

A. banking reforms

B. multi-modal connectivity and integrated infrastructure planning

C. agricultural exports

D. tax administration

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Correct Answer: Option B

Explanation:
PM Gati Shakti is a national master plan for multi-modal connectivity and integrated infrastructure planning.

This question belongs to: Economy GK Economy Set 1

Question #3

Under perfect competition, the profit-maximizing condition for a firm is:

A. P = AC

B. MR is maximum

C. MR = MC and MC is rising

D. TR is maximum

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Correct Answer: Option C

Explanation:
A perfectly competitive firm maximizes profit where marginal revenue equals marginal cost and MC is rising.

This question belongs to: Economy GK Economy Set 1

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