Real Time Gross Settlement is a payment system that: MCQ with Answer and Explanation

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Real Time Gross Settlement is a payment system that:

A. settles high-value transactions individually in real time

B. settles transactions in batches

C. settles only retail transactions

D. does not require a bank account

Answer: Option A

Solution (By JKSSB Mock Tests)

RTGS settles high-value transactions individually and in real time.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which institution primarily provides short-term financial assistance to countries facing balance of payments problems?

A. ADB

B. World Bank

C. IMF

D. WTO

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Correct Answer: Option C

Explanation:
The IMF provides short-term financial assistance to countries with balance of payments problems.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a feature of the 'Fisher Effect'?

A. Nominal and real rates are always equal

B. The real interest rate equals the nominal rate plus inflation

C. The nominal interest rate equals the real interest rate plus expected inflation

D. Inflation has no effect on nominal rates

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Correct Answer: Option C

Explanation:
The Fisher equation states that the nominal interest rate is approximately equal to the real interest rate plus the expected rate of inflation.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a characteristic of the 'Circular Economy' concept?

A. Only the maximisation of consumption without regard to waste

B. An economic system aimed at eliminating waste and the continual use of resources through reuse, repair, remanufacturing and recycling

C. A linear take-make-dispose model

D. Only the maximisation of resource extraction

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Correct Answer: Option B

Explanation:
The circular economy seeks to keep products, materials and resources in use for as long as possible, extracting maximum value and then recovering and regenerating them at the end of their service life.

This question belongs to: Economy GK Economy Set 1

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