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. assets are standard

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

D. no loss has been identified

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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The 'balance of payments' crisis of 1991 in India was partly caused by:

A. fiscal surplus

B. high foreign exchange reserves

C. high oil import bill and declining remittances

D. high exports

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Correct Answer: Option C

Explanation:
The 1991 BoP crisis was triggered by high oil prices, declining remittances and low reserves.

This question belongs to: Economy GK Economy Set 1

Question #2

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The concept of 'Narrative Economics' associated with Robert Shiller emphasises:

A. Only the role of monetary policy

B. The role of popular stories and narratives in driving economic fluctuations

C. The complete irrelevance of stories

D. Only the role of fundamental factors

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Correct Answer: Option B

Explanation:
Narrative economics studies how contagious popular stories and narratives spread and influence economic behaviour, contributing to booms, recessions and other major economic events.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Second Five Year Plan' period was:

A. 1953-1958

B. 1951-1956

C. 1956-1961

D. 1961-1966

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Correct Answer: Option C

Explanation:
The Second Five Year Plan covered 1956-1961.

This question belongs to: Economy GK Economy Set 1

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