The term 'Repo' in monetary policy stands for: MCQ with Answer and Explanation

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The term 'Repo' in monetary policy stands for:

A. Repurchase Agreement

B. Reverse Purchase Order

C. Rate of Preferential Operation

D. Reserve Position

Answer: Option A

Solution (By JKSSB Mock Tests)

Repo stands for Repurchase Agreement, under which RBI lends money to banks against government securities with an agreement to repurchase them at a later date.

This question belongs to: Economy GK Economy Set 1

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Question #1

The law of variable proportions is associated with the:

A. long run

B. short run

C. very long run

D. all time periods equally

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Correct Answer: Option B

Explanation:
The law of variable proportions operates in the short run when at least one factor is fixed.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Goods and Services Tax' on passenger transport by air-conditioned buses is:

A. 5%

B. 18%

C. 12%

D. 0%

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Correct Answer: Option A

Explanation:
AC bus passenger transport attracts 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Tobin tax' is a proposed tax on:

A. imports

B. property

C. short-term foreign exchange transactions

D. income

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Correct Answer: Option C

Explanation:
A Tobin tax is a tax on short-term foreign exchange transactions to reduce speculative flows.

This question belongs to: Economy GK Economy Set 1

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