The term 'Soft Currency' refers to: MCQ with Answer and Explanation

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The term 'Soft Currency' refers to:

A. A currency that is widely accepted and stable

B. A currency that is not widely accepted internationally and may be unstable

C. Only gold-backed currency

D. Only the US dollar

Answer: Option B

Solution (By JKSSB Mock Tests)

A soft currency is one that is not widely used in international transactions and may experience frequent fluctuations or limited convertibility, in contrast to hard currencies like the US dollar or euro.

This question belongs to: Economy GK Economy Set 1

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Question #1

PM Gati Shakti is a national master plan for:

A. agricultural exports

B. multi-modal connectivity and integrated infrastructure planning

C. tax administration

D. banking reforms

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Correct Answer: Option B

Explanation:
PM Gati Shakti is a national master plan for multi-modal connectivity and integrated infrastructure planning.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following has been a major driver of service sector growth in India?

A. Only growth in agricultural productivity

B. IT and IT-enabled services, liberalisation and rising incomes

C. Decline in domestic and global demand

D. Complete restriction on foreign investment in services

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Correct Answer: Option B

Explanation:
The expansion of IT and ITES, financial services, trade and tourism, supported by liberalisation and rising incomes, has driven the rapid growth of India's service sector.

This question belongs to: Economy GK Economy Set 1

Question #3

Globalization in the Indian economic context means:

A. increasing integration with the world economy

B. closing the economy to foreign trade

C. nationalization of foreign companies

D. self-reliant village economy

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Correct Answer: Option A

Explanation:
Globalization means increasing integration of the Indian economy with the world economy.

This question belongs to: Economy GK Economy Set 1

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