The 'People's Bank of China' is the central bank of: MCQ with Answer and Explanation

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The 'People's Bank of China' is the central bank of:

A. Vietnam

B. Japan

C. India

D. China

Answer: Option D

Solution (By JKSSB Mock Tests)

The People's Bank of China is China's central bank.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The term 'Repo' in monetary policy stands for:

A. Reserve Position

B. Reverse Purchase Order

C. Rate of Preferential Operation

D. Repurchase Agreement

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Correct Answer: Option D

Explanation:
Repo stands for Repurchase Agreement, under which RBI lends money to banks against government securities with an agreement to repurchase them at a later date.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Paris Agreement' aims to limit global temperature rise this century to well below:

A. 4°C

B. 3°C

C. 2°C above pre-industrial levels

D. 1°C

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Correct Answer: Option C

Explanation:
The Paris Agreement aims to limit warming to well below 2°C, preferably 1.5°C.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of elasticity, a perfectly inelastic demand curve is:

A. Downward sloping with unit elasticity

B. Upward sloping

C. Horizontal

D. Vertical

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Correct Answer: Option D

Explanation:
A perfectly inelastic demand curve is a vertical straight line, indicating that quantity demanded does not change at all with changes in price.

This question belongs to: Economy GK Economy Set 1

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