The 'Reverse repo rate' is the rate at which RBI: MCQ with Answer and Explanation

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The 'Reverse repo rate' is the rate at which RBI:

A. lends to the government

B. borrows from banks against government securities

C. lends to banks

D. rediscounts bills

Answer: Option B

Solution (By JKSSB Mock Tests)

Reverse repo is the rate at which RBI borrows from banks against government securities.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Subjective Well-Being' in economics refers to:

A. Only physical health indicators

B. Only environmental quality

C. Only objective measures of income

D. Individuals’ own evaluations of their lives, typically measured by surveys of happiness or life satisfaction

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Correct Answer: Option D

Explanation:
Subjective well-being encompasses self-reported measures of happiness, life satisfaction and emotional states, which have become an important complement to traditional objective indicators of welfare.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'World Trade Organization' is headquartered in:

A. New York

B. Washington D.C.

C. Paris

D. Geneva

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Correct Answer: Option D

Explanation:
The World Trade Organization is headquartered in Geneva, Switzerland.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on online education courses is:

A. 5%

B. 0%

C. 12%

D. 18%

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Correct Answer: Option D

Explanation:
Online education courses generally attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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