The term 'Base Money' or 'Reserve Money' consists of: MCQ with Answer and Explanation

Question
The term 'Base Money' or 'Reserve Money' consists of:
A. Currency in circulation plus bankers' deposits with RBI and other deposits
B. Only demand deposits
C. Only time deposits of banks
D. Only currency with the public
Answer: Option A
Solution (By JKSSB Mock Tests)
Reserve money (monetary base) includes currency in circulation, bankers' deposits with the RBI and other deposits with the RBI.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
Insurance Regulatory and Development Authority of India was established in which year?
A. 2003
B. 1991
C. 1999
D. 2008
Discuss
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Correct Answer: Option C

Explanation:
IRDAI was established in 1999 following the IRDA Act.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a feature of the 'Special Drawing Rights' allocation by the IMF?
A. SDRs are only available to countries with balance-of-payments needs under strict conditionality
B. SDRs can be used only for domestic fiscal spending
C. A general allocation of SDRs provides unconditional liquidity to member countries in proportion to their quotas
D. SDRs are a form of private cryptocurrency
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Correct Answer: Option C

Explanation:
A general SDR allocation distributes new SDRs to all IMF members in proportion to their quotas, thereby increasing global liquidity without the policy conditionality attached to IMF lending programmes.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'Special Officer for Linguistic Minorities' is appointed under which article?
A. Article 352
B. Article 365
C. Article 350B
D. Article 360
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Correct Answer: Option C

Explanation:
Special Officer for Linguistic Minorities is appointed under Article 350B.
This question belongs to: Economy GK Economy Set 1
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