The 'World Bank' in India provides loans primarily for: MCQ with Answer and Explanation

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The 'World Bank' in India provides loans primarily for:

A. elections

B. stock markets

C. development projects and economic reforms

D. defence

Answer: Option C

Solution (By JKSSB Mock Tests)

World Bank loans in India finance development projects and economic reforms.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Central Information Commission' is a:

A. constitutional body

B. executive body

C. statutory body

D. private body

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Correct Answer: Option C

Explanation:
The Central Information Commission is a statutory body under RTI Act.

This question belongs to: Economy GK Economy Set 1

Question #2

In the context of trade policy, the 'Optimal Tariff' argument suggests that:

A. Only small countries can benefit from tariffs

B. A large country may improve its terms of trade by imposing a tariff, provided foreign retaliation is absent

C. Tariffs are always welfare-reducing for the imposing country

D. Free trade is never optimal

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Correct Answer: Option B

Explanation:
A large country can improve its terms of trade by restricting imports, thereby extracting some monopoly or monopsony rent; the optimal tariff balances this gain against the efficiency loss.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is an example of a derived demand?

A. Demand for cars by households

B. Demand for entertainment

C. Demand for food by consumers

D. Demand for labour by firms

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Correct Answer: Option D

Explanation:
Derived demand is the demand for a factor of production that arises from the demand for the final product it helps produce. Demand for labour is derived from the demand for goods and services.

This question belongs to: Economy GK Economy Set 1

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