The 'President of India' can declare a financial emergency under which article? MCQ with Answer and Explanation

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The 'President of India' can declare a financial emergency under which article?

A. Article 356

B. Article 360

C. Article 352

D. Article 365

Answer: Option B

Solution (By JKSSB Mock Tests)

Financial emergency is declared under Article 360.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'World Bank' headquarters is in:

A. Geneva

B. Paris

C. Washington D.C.

D. New York

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Correct Answer: Option C

Explanation:
World Bank headquarters is in Washington D.C.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Social Marginal Cost' is relevant for:

A. Correcting externalities and optimal provision of public goods

B. Only calculating private profits

C. Private decision making only

D. Only determining market prices

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Correct Answer: Option A

Explanation:
Social marginal cost includes both private costs and external costs. It is used in the analysis of externalities and in determining the socially optimal level of output.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'life-cycle hypothesis' of consumption was proposed by:

A. Franco Modigliani

B. Paul Samuelson

C. Irving Fisher

D. Milton Friedman

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Correct Answer: Option A

Explanation:
The life-cycle hypothesis was developed by Franco Modigliani and others.

This question belongs to: Economy GK Economy Set 1

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