The 'World Bank' headquarters is in: MCQ with Answer and Explanation

Question

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The 'World Bank' headquarters is in:

A. Washington D.C.

B. Geneva

C. New York

D. Paris

Answer: Option A

Solution (By JKSSB Mock Tests)

World Bank headquarters is in Washington D.C.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Vote on Account' is generally taken for a period of:

A. one year

B. two months or up to six months

C. three years

D. five years

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Correct Answer: Option B

Explanation:
Vote on Account authorizes expenditure for part of the year, generally two months.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Merchandise Exports from India Scheme' was replaced by which scheme?

A. EPCG

B. RoDTEP

C. SEIS

D. Advance Authorization

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Correct Answer: Option B

Explanation:
MEIS was replaced by the Remission of Duties and Taxes on Exported Products scheme.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a feature of the 'Wealth Inequality' literature associated with Piketty?

A. Wealth inequality always declines with development

B. Capital accumulation always reduces inequality

C. Only labour income inequality matters

D. When the rate of return on capital exceeds the growth rate of the economy, wealth inequality tends to rise

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Correct Answer: Option D

Explanation:
Piketty’s central argument is that when the rate of return on capital (r) systematically exceeds the growth rate of the economy (g), the share of capital in national income and the concentration of wealth tend to increase.

This question belongs to: Economy GK Economy Set 1

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