The 'Ways and Means Advances' are given by RBI to: MCQ with Answer and Explanation

Question

Share Report Error

The 'Ways and Means Advances' are given by RBI to:

A. foreign governments

B. commercial banks

C. central and state governments to bridge temporary mismatches in receipts and expenditures

D. NBFCs

Answer: Option C

Solution (By JKSSB Mock Tests)

Ways and Means Advances are short-term advances by RBI to governments to bridge temporary mismatches.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

A 'merit good' is a good that:

A. is only for the rich

B. is consumed voluntarily

C. has negative externalities

D. the government encourages or provides because it has positive externalities and is under-consumed

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Merit goods are under-consumed if left to the market, so government encourages their provision.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Blue Revolution' in India is associated with which commodity?

A. Fish

B. Pulses

C. Oilseeds

D. Milk

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
The Blue Revolution is associated with fisheries development.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of economic theory, the 'Production Possibility Frontier' shifts outward when there is:

A. Unemployment of resources

B. Decrease in the labour force

C. Inefficient allocation of resources

D. Economic growth due to increase in resources or technology

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
An outward shift of the PPF indicates economic growth, which can result from an increase in the quantity or quality of resources or from technological progress.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs