The 'World Bank Group' has how many member countries in IBRD? MCQ with Answer and Explanation

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The 'World Bank Group' has how many member countries in IBRD?

A. 150

B. 164

C. 189

D. 193

Answer: Option C

Solution (By JKSSB Mock Tests)

IBRD has 189 member countries.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is an example of a progressive tax system feature?

A. Higher tax rate on higher income slabs

B. Tax rate independent of income

C. Same tax rate for all income levels

D. Higher tax burden on lower income groups

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Correct Answer: Option A

Explanation:
A progressive tax system imposes higher marginal tax rates on higher income levels, increasing the average tax rate as income rises.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Foreign Direct Investment' policy in India is formulated by:

A. SEBI

B. NITI Aayog

C. Department for Promotion of Industry and Internal Trade

D. RBI

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Correct Answer: Option C

Explanation:
FDI policy is formulated by the Department for Promotion of Industry and Internal Trade.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a feature of the production possibility frontier?

A. It is always a straight line

B. It is concave to the origin under increasing opportunity costs

C. It shifts inward with technological progress

D. Points inside the frontier are unattainable

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Correct Answer: Option B

Explanation:
The PPF is typically concave to the origin, reflecting increasing opportunity costs as more of one good is produced by reallocating resources from the other good.

This question belongs to: Economy GK Economy Set 1

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