The 'World Economic Forum' was established in which year? MCQ with Answer and Explanation

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The 'World Economic Forum' was established in which year?

A. 1965

B. 1980

C. 1990

D. 1971

Answer: Option D

Solution (By JKSSB Mock Tests)

WEF was established in 1971.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'hyperinflation' is:

A. stable prices

B. falling prices

C. extremely rapid and uncontrolled price rise

D. slow price rise

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Correct Answer: Option C

Explanation:
Hyperinflation is extremely rapid and uncontrolled inflation.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on alcohol for human consumption is:

A. not under GST

B. 0%

C. 18%

D. 5%

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Correct Answer: Option A

Explanation:
Alcoholic liquor for human consumption is outside GST.

This question belongs to: Economy GK Economy Set 1

Question #3

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The First Five Year Plan of India was based on the:

A. Mahalanobis model

B. Gandhian model

C. Harrod-Domar model

D. Nehru model

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Correct Answer: Option C

Explanation:
The First Five Year Plan was based on the Harrod-Domar model.

This question belongs to: Economy GK Economy Set 1

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