The 'Public Financial Management System' is used for: MCQ with Answer and Explanation

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The 'Public Financial Management System' is used for:

A. bank lending

B. digital management of government expenditures and payments

C. stock trading

D. foreign exchange trading

Answer: Option B

Solution (By JKSSB Mock Tests)

PFMS is a digital platform for government expenditure and payment management.

This question belongs to: Economy GK Economy Set 1

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Question #1

The term 'High-Powered Money' is also known as:

A. Reserve money or monetary base

B. Time deposits

C. Broad money

D. Narrow money only

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Correct Answer: Option A

Explanation:
High-powered money (reserve money or monetary base) consists of currency in circulation and the reserves of the banking system with the central bank.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'G-20' is a group of:

A. 20 poorest countries

B. 20 African countries

C. major advanced and emerging economies

D. 20 EU countries

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Correct Answer: Option C

Explanation:
The G20 is a group of major advanced and emerging economies.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Multiplier' in Keynesian economics is larger when:

A. Marginal propensity to save is higher

B. Marginal propensity to consume is lower

C. Tax rate is higher

D. Marginal propensity to consume is higher

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Correct Answer: Option D

Explanation:
The investment multiplier = 1/(1−MPC). A higher marginal propensity to consume leads to a larger multiplier effect on income.

This question belongs to: Economy GK Economy Set 1

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