Cardinal utility analysis assumes that utility: MCQ with Answer and Explanation

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Cardinal utility analysis assumes that utility:

A. depends on income only

B. cannot be measured in numbers

C. can be measured in cardinal numbers

D. is not comparable across persons

Answer: Option C

Solution (By JKSSB Mock Tests)

Cardinal utility analysis assumes utility can be quantified in numerical units such as utils.

This question belongs to: Economy GK Economy Set 1

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The 'Goods and Services Tax' on toll charges is:

A. exempt

B. 18%

C. 5%

D. 0%

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Correct Answer: Option A

Explanation:
Toll charges are exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pradhan Mantri Jeevan Jyoti Bima Yojana' provides:

A. life insurance

B. health insurance

C. vehicle insurance

D. crop insurance

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Correct Answer: Option A

Explanation:
PMJJBY provides life insurance cover.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Digital Public Goods' refers to:

A. Only privately owned digital platforms

B. Open-source software, open data, open AI models and open standards that are freely available and contribute to sustainable development

C. Only proprietary software

D. Only physical public goods

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Correct Answer: Option B

Explanation:
Digital public goods are open-source software, open data, open AI systems, open standards and open content that adhere to privacy and other best practices and help attain the Sustainable Development Goals.

This question belongs to: Economy GK Economy Set 1

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