Loss assets are those where: MCQ with Answer and Explanation

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Loss assets are those where:

A. loss has been written off fully

B. no loss has been identified

C. loss has been identified but the amount has not been written off

D. assets are standard

Answer: Option C

Solution (By JKSSB Mock Tests)

Loss assets are assets where a loss has been identified but not yet fully written off.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a feature of the 'Ratchet Effect' in consumption theory?

A. Consumption falls symmetrically with income

B. Consumption is independent of past income

C. Only permanent income matters

D. Consumption rises with income but is resistant to falling when income declines

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Correct Answer: Option D

Explanation:
The ratchet effect, associated with Duesenberry’s relative-income hypothesis, describes the asymmetry whereby consumption adjusts upward more readily than downward when income changes.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a feature of 'Privacy-Enhancing Technologies'?

A. Technologies that maximise data collection without safeguards

B. Only complete data anonymisation that destroys all utility

C. Technical methods that allow data to be used while minimising the exposure of personal information

D. Only encryption without any other tools

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Correct Answer: Option C

Explanation:
Privacy-enhancing technologies (PETs) comprise a range of technical approaches—such as differential privacy, homomorphic encryption and secure multi-party computation—that enable data analysis while protecting individual privacy.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a feature of the 'Job Guarantee' proposal?

A. Only private-sector job creation without public involvement

B. Only unemployment insurance without job offers

C. Only training programmes without employment

D. A public programme that offers employment at a living wage to anyone willing and able to work

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Correct Answer: Option D

Explanation:
A job-guarantee programme commits the public sector to provide a job at a basic living wage to every person who wants one, thereby eliminating involuntary unemployment and establishing an effective wage floor.

This question belongs to: Economy GK Economy Set 1

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