The term 'Quantitative Restrictions' on imports refer to: MCQ with Answer and Explanation

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The term 'Quantitative Restrictions' on imports refer to:

A. Exchange rate controls only

B. Limits on the quantity or value of goods that can be imported

C. Tariffs only

D. Export subsidies

Answer: Option B

Solution (By JKSSB Mock Tests)

Quantitative restrictions (QRs) are non-tariff barriers that limit the volume or value of imports, such as quotas and licensing requirements.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'National Consumer Price Index' in India uses which base year?

A. 2019

B. 2012

C. 2016

D. 2010

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Correct Answer: Option B

Explanation:
CPI-Combined uses base year 2012.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Sixth Five Year Plan' period was:

A. 1975-1980

B. 1985-1990

C. 1980-1985

D. 1978-1983

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Correct Answer: Option C

Explanation:
The Sixth Five Year Plan covered 1980-1985.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Sudden Stop' in international finance refers to:

A. An abrupt reversal of capital inflows into a country

B. A gradual reduction in capital flows

C. Only a stop in trade flows

D. Only a stop in domestic investment

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Correct Answer: Option A

Explanation:
A sudden stop is a large and abrupt reversal of capital inflows, often associated with currency crises, output collapses and balance-sheet problems in emerging markets.

This question belongs to: Economy GK Economy Set 1

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