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. Time deposits

D. Broad money

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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Question #1

Which of the following is a characteristic of the 'Solow Residual'?

A. It measures only the contribution of capital

B. It measures the contribution of total factor productivity growth to output growth

C. It measures only the contribution of labour

D. It is always equal to zero

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Correct Answer: Option B

Explanation:
The Solow residual is the part of output growth that remains after accounting for the contributions of capital and labour inputs; it is commonly interpreted as a measure of total factor productivity growth.

This question belongs to: Economy GK Economy Set 1

Question #2

The National Development Council in India is headed by:

A. President

B. Finance Minister

C. Home Minister

D. Prime Minister

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Correct Answer: Option D

Explanation:
The National Development Council is headed by the Prime Minister.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Bharat Interface for Money' is a mobile application for:

A. tax payment

B. insurance

C. UPI-based payments

D. loan applications

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Correct Answer: Option C

Explanation:
BHIM is a UPI-based mobile payment app.

This question belongs to: Economy GK Economy Set 1

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