Which of the following is a major component of India's foreign exchange reserves? MCQ with Answer and Explanation

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Which of the following is a major component of India's foreign exchange reserves?

A. Only equity shares of foreign companies

B. Only gold

C. Foreign currency assets, gold, SDRs and reserve position in IMF

D. Only domestic currency

Answer: Option C

Solution (By JKSSB Mock Tests)

India's foreign exchange reserves consist of foreign currency assets, gold, Special Drawing Rights and the reserve tranche position in the IMF.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'e-Pathshala' is an initiative for:

A. digital textbooks and learning resources

B. online banking

C. tax payment

D. railway reservation

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Correct Answer: Option A

Explanation:
e-Pathshala provides digital textbooks and educational resources.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'working-age population' in India is usually defined as persons aged:

A. 10-60

B. 21-65

C. 15-59 or 15-64 depending on definition

D. 18-70

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Correct Answer: Option C

Explanation:
Working-age population is generally 15-59 or 15-64 depending on the survey definition.

This question belongs to: Economy GK Economy Set 1

Question #3

The term 'Base Effect' is related to the calculation of:

A. National income

B. Inflation rate

C. Fiscal deficit

D. Balance of trade

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Correct Answer: Option B

Explanation:
Base effect refers to the impact of the price level of the previous year (base) on the calculation of the inflation rate in the current year.

This question belongs to: Economy GK Economy Set 1

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