The value of the SDR is based on a basket of how many currencies? MCQ with Answer and Explanation

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The value of the SDR is based on a basket of how many currencies?

A. 6

B. 3

C. 4

D. 5

Answer: Option D

Solution (By JKSSB Mock Tests)

The SDR basket consists of five currencies: US dollar, euro, Chinese yuan, Japanese yen and British pound.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following is a major advantage of a flexible exchange rate system?

A. No need for foreign exchange reserves

B. Elimination of all speculation

C. Automatic adjustment of balance of payments

D. Complete insulation from external shocks

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Correct Answer: Option C

Explanation:
Under a flexible exchange rate system, the exchange rate adjusts automatically to equilibrate the demand and supply of foreign exchange, helping to correct balance of payments imbalances.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'World Economic Forum' publishes which index?

A. Corruption Perceptions Index

B. Human Development Index

C. Global Competitiveness Index

D. Logistics Performance Index

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Correct Answer: Option C

Explanation:
WEF publishes Global Competitiveness Index.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Pradhan Mantri Ujjwala Yojana' was launched by which ministry?

A. Ministry of Rural Development

B. Ministry of Health

C. Ministry of Women and Child Development

D. Ministry of Petroleum and Natural Gas

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Correct Answer: Option D

Explanation:
PMUY is implemented by the Ministry of Petroleum and Natural Gas.

This question belongs to: Economy GK Economy Set 1

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