The concept of 'Time Preference' is related to the theory of: MCQ with Answer and Explanation

The concept of 'Time Preference' is related to the theory of:
A. Profit
B. Interest
C. Rent
D. Wages
Answer: Option B
Solution (By JKSSB Mock Tests)
The time preference theory of interest (associated with Böhm-Bawerk and others) explains interest as arising from the preference for present goods over future goods.

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Practice More Economy Set 1 Questions

Question #1
The 'Goods and Services Tax' is a:
A. wealth tax
B. direct tax
C. capital gains tax
D. indirect tax

Correct Answer: Option D


Explanation:
GST is an indirect tax on goods and services.

This question belongs to: Economy GK Economy Set 1
Question #2
A Special Economic Zone is a geographical region with:
A. liberal economic laws to promote exports and investment
B. higher tariffs than the rest of the country
C. complete prohibition of imports
D. no private sector activity

Correct Answer: Option A


Explanation:
SEZs have more liberal economic laws to promote exports and investment.

This question belongs to: Economy GK Economy Set 1
Question #3
The largest installed renewable energy source in India by capacity in recent years is:
A. solar
B. wind
C. small hydro
D. biomass

Correct Answer: Option A


Explanation:
Solar power has become the largest renewable energy source by installed capacity in India.

This question belongs to: Economy GK Economy Set 1