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

Question

Share Report Error

Cardinal utility analysis assumes that utility:

A. depends on income only

B. cannot be measured in numbers

C. is not comparable across persons

D. can be measured in cardinal numbers

Answer: Option D

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

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The term 'Green Field Investment' refers to:

A. Mergers and acquisitions only

B. Portfolio investment in bonds

C. Investment in existing companies through stock markets

D. Setting up of new production facilities from scratch

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Greenfield investment is a form of foreign direct investment where a parent company establishes new operations and facilities in a foreign country from the ground up.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is used to measure multidimensional poverty?

A. Gini coefficient

B. Multidimensional Poverty Index (MPI)

C. Headcount ratio based only on income

D. Lorenz curve

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
The Multidimensional Poverty Index, developed by UNDP and OPHI, captures deprivations in health, education and living standards beyond income poverty.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on art and culture events is:

A. 0%

B. 5%

C. 18%

D. 12%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Art and culture events generally attract 18% GST, with some exemptions.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs