The 'Washington Consensus' refers to a set of policies emphasizing: MCQ with Answer and Explanation

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The 'Washington Consensus' refers to a set of policies emphasizing:

A. trade barriers

B. liberalization, privatization and macroeconomic stability

C. nationalization

D. import substitution and state control

Answer: Option B

Solution (By JKSSB Mock Tests)

The Washington Consensus emphasized liberalization, privatization and macroeconomic stability.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Mega Food Park' scheme aims to:

A. reduce food production

B. promote raw exports only

C. create modern food processing infrastructure

D. increase food imports

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Correct Answer: Option C

Explanation:
Mega Food Parks provide modern food processing infrastructure and supply chain facilities.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Monetary Policy Committee' meets at least how many times in a financial year?

A. 2

B. 4

C. 6

D. 12

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Correct Answer: Option B

Explanation:
The MPC meets at least four times a year.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Saubhagya' scheme is implemented by which ministry?

A. Ministry of Housing

B. Ministry of Petroleum

C. Ministry of Power

D. Ministry of Rural Development

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Correct Answer: Option C

Explanation:
Saubhagya scheme is implemented by the Ministry of Power.

This question belongs to: Economy GK Economy Set 1

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