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

Which of the following is a feature of the Indian banking system?

A. No role for foreign banks

B. Complete absence of NBFCs

C. Absence of priority sector lending norms

D. Dual regulation of cooperative banks by RBI and state governments

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Correct Answer: Option D

Explanation:
Urban and rural cooperative banks in India are subject to dual regulation by the Reserve Bank of India and the respective state governments.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Full Budget' is presented after the interim budget when:

A. the President orders

B. the RBI requests

C. elections are complete and the new government takes office

D. the Supreme Court orders

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Correct Answer: Option C

Explanation:
The new government presents a full budget after taking office.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'core inflation' measure excludes:

A. manufactured goods

B. food and fuel

C. imports

D. services

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Correct Answer: Option B

Explanation:
Core inflation excludes volatile food and fuel prices.

This question belongs to: Economy GK Economy Set 1

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