The 'Cheque Truncation System' processes cheques by: MCQ with Answer and Explanation

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The 'Cheque Truncation System' processes cheques by:

A. converting cheques into cash immediately

B. destroying all cheques

C. physically moving cheques to the paying bank

D. transmitting electronic image of the cheque

Answer: Option D

Solution (By JKSSB Mock Tests)

CTS processes cheques by transmitting electronic images rather than moving physical cheques.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'adaptive expectations' hypothesis assumes people form expectations based on:

A. future policy announcements only

B. rational models only

C. random guesses

D. past values of the variable

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Correct Answer: Option D

Explanation:
Adaptive expectations are formed based on past observations.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'repo rate' in India is the rate at which RBI lends to banks for:

A. long-term capital

B. foreign exchange

C. unsecured overnight loans

D. short-term funds against government securities

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Correct Answer: Option D

Explanation:
Repo rate is the rate at which RBI lends short-term funds to banks against government securities.

This question belongs to: Economy GK Economy Set 1

Question #3

The IS curve shows combinations of income and interest rate where:

A. goods market is in equilibrium

B. foreign exchange market is in equilibrium

C. money market is in equilibrium

D. labour market is in equilibrium

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Correct Answer: Option A

Explanation:
The IS curve shows equilibrium in the goods market.

This question belongs to: Economy GK Economy Set 1

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