The term 'Fiscal Consolidation' refers to: MCQ with Answer and Explanation

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The term 'Fiscal Consolidation' refers to:

A. Increase in government expenditure without regard to revenue

B. Only increasing tax rates

C. Policies aimed at reducing fiscal deficit and public debt

D. Only printing more money

Answer: Option C

Solution (By JKSSB Mock Tests)

Fiscal consolidation refers to policies and measures undertaken to reduce the fiscal deficit and put public finances on a sustainable path.

This question belongs to: Economy GK Economy Set 1

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Question #1

The concept of 'Pareto Optimality' is associated with:

A. Development economics

B. Monetary economics

C. Welfare economics

D. International trade theory

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Correct Answer: Option C

Explanation:
Pareto Optimality is a concept in welfare economics where resources are allocated in such a way that no one can be made better off without making someone else worse off.

This question belongs to: Economy GK Economy Set 1

Question #2

FERA, replaced by FEMA, was enacted in:

A. 1991

B. 1947

C. 1973

D. 1980

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Correct Answer: Option C

Explanation:
FERA was enacted in 1973 and replaced by FEMA in 1999.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'African Development Bank' is headquartered in:

A. Cairo

B. Abidjan

C. Johannesburg

D. Nairobi

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Correct Answer: Option B

Explanation:
The African Development Bank is headquartered in Abidjan, Côte d'Ivoire.

This question belongs to: Economy GK Economy Set 1

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