The concept of 'Opportunity Cost of Holding Money' refers to: MCQ with Answer and Explanation

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The concept of 'Opportunity Cost of Holding Money' refers to:

A. The interest income forgone by holding cash instead of interest-bearing assets

B. The cost of printing currency notes

C. The cost of banking services only

D. The cost of producing goods and services

Answer: Option A

Solution (By JKSSB Mock Tests)

The opportunity cost of holding money is the interest that could have been earned by holding bonds or other interest-bearing assets instead of cash.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on betting and gambling is:

A. 5%

B. 18%

C. 12%

D. 28%

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Correct Answer: Option D

Explanation:
Betting and gambling attract 28% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Trade Facilitation Agreement' of WTO entered into force in which year?

A. 2017

B. 2019

C. 2018

D. 2013

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Correct Answer: Option A

Explanation:
The Trade Facilitation Agreement entered into force in 2017.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Attorney General of India' is appointed under which article?

A. Article 78

B. Article 76

C. Article 77

D. Article 88

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Correct Answer: Option B

Explanation:
The Attorney General is appointed under Article 76.

This question belongs to: Economy GK Economy Set 1

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