Which institution primarily provides short-term financial assistance to countries facing balance of payments problems? MCQ with Answer and Explanation

Which institution primarily provides short-term financial assistance to countries facing balance of payments problems?
A. World Bank
B. ADB
C. WTO
D. IMF
Answer: Option D
Solution (By JKSSB Mock Tests)
The IMF provides short-term financial assistance to countries with balance of payments problems.

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Practice More Economy Set 1 Questions

Question #1
Which of the following is a major factor contributing to the growth of India's service sector?
A. Only agricultural productivity growth
B. IT revolution, liberalisation and rising domestic demand
C. Complete isolation from global markets
D. Decline in global demand for services

Correct Answer: Option B


Explanation:
The rapid growth of India's services sector has been driven by the information technology boom, economic liberalisation, and expanding domestic and global demand for services.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'Digital rupee' is a central bank digital currency that has been launched by RBI in a pilot.
A. False
B. Only for banks
C. True
D. Only for foreign trade

Correct Answer: Option C


Explanation:
RBI has launched pilot projects for the Digital Rupee, a central bank digital currency.

This question belongs to: Economy GK Economy Set 1
Question #3
The concept of 'Opportunity Cost' is best illustrated by:
A. The value of the next best alternative forgone when a choice is made
B. The difference between total revenue and total cost
C. The total cost of production
D. The cost of producing one more unit

Correct Answer: Option A


Explanation:
Opportunity cost is the value of the best alternative that is sacrificed when a decision is made; it is fundamental to the study of choice under scarcity.

This question belongs to: Economy GK Economy Set 1