Human capital refers to: MCQ with Answer and Explanation

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Human capital refers to:

A. financial assets of a country

B. physical machinery used in production

C. natural resources

D. the stock of skills, education and health embodied in workers

Answer: Option D

Solution (By JKSSB Mock Tests)

Human capital is the stock of skills, education and health embodied in workers that enhances productivity.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' on water is:

A. 0%

B. 18%

C. exempt for water supply through public taps

D. 5%

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Correct Answer: Option C

Explanation:
Water supply through public taps is exempt from GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'International Court of Justice' is headquartered at:

A. The Hague

B. Geneva

C. New York

D. Vienna

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Correct Answer: Option A

Explanation:
The International Court of Justice is headquartered at The Hague, Netherlands.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a characteristic of the 'Overlapping Generations' model?

A. Agents live for multiple periods and different generations coexist

B. Only static optimisation is considered

C. Agents live for only one period

D. There is a single infinitely-lived representative agent

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Correct Answer: Option A

Explanation:
In overlapping-generations models, individuals live for a finite number of periods and at any date several generations coexist, allowing analysis of intergenerational issues and dynamic inefficiency.

This question belongs to: Economy GK Economy Set 1

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