The 'credit card' allows a customer to: MCQ with Answer and Explanation

Question

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The 'credit card' allows a customer to:

A. borrow money up to a limit for purchases

B. spend from bank account only

C. trade securities

D. deposit cash only

Answer: Option A

Solution (By JKSSB Mock Tests)

A credit card allows borrowing up to a limit for purchases.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The Solow growth model identifies which of the following as a source of long-run per capita income growth?

A. Capital accumulation

B. Increase in savings only

C. Population growth

D. Technological progress

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Correct Answer: Option D

Explanation:
In the Solow model, sustained long-run per capita income growth comes from technological progress.

This question belongs to: Economy GK Economy Set 1

Question #2

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Which of the following is a characteristic of a public good?

A. Excludable and rivalrous

B. Non-excludable but rivalrous

C. Non-excludable and non-rivalrous

D. Excludable but non-rivalrous

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Correct Answer: Option C

Explanation:
Public goods are non-excludable (difficult to prevent non-payers from consuming) and non-rivalrous (one person's consumption does not reduce availability for others).

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Foreign Direct Investment' policy in India is formulated by:

A. SEBI

B. Department for Promotion of Industry and Internal Trade

C. NITI Aayog

D. RBI

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Correct Answer: Option B

Explanation:
FDI policy is formulated by the Department for Promotion of Industry and Internal Trade.

This question belongs to: Economy GK Economy Set 1

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