The term 'High-Powered Money' is also known as: MCQ with Answer and Explanation

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

A. Narrow money only

B. Reserve money or monetary base

C. Broad money

D. Time deposits

Answer: Option B

Solution (By JKSSB Mock Tests)

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

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Practice More Economy Set 1 Questions

Question #1

The 'Aadhaar Payment Bridge System' enables:

A. foreign exchange trading

B. stock trading

C. direct benefit transfers using Aadhaar number

D. insurance claims

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Correct Answer: Option C

Explanation:
APBS enables direct benefit transfers using Aadhaar number.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'FDI' in multi-brand retail is allowed up to what percentage?

A. 74%

B. 51%

C. 100%

D. 49%

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Correct Answer: Option B

Explanation:
FDI in multi-brand retail is allowed up to 51% under government approval.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a characteristic of a monopoly?

A. Single seller and no close substitutes

B. Large number of sellers

C. Free entry and exit

D. Homogeneous product with many sellers

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Correct Answer: Option A

Explanation:
Monopoly is characterised by a single seller of a product that has no close substitutes, with barriers to entry.

This question belongs to: Economy GK Economy Set 1

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