Which of the following is a desirable characteristic of money? MCQ with Answer and Explanation

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Which of the following is a desirable characteristic of money?

A. Difficulty in storage

B. Unlimited supply

C. Durability, portability, divisibility and limited supply

D. Perishability

Answer: Option C

Solution (By JKSSB Mock Tests)

Good money should be durable, portable, divisible, uniform, recognisable and relatively scarce so that it can effectively perform its functions.

This question belongs to: Economy GK Economy Set 1

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Question #1

In the context of labour-market institutions, the 'Ghent System' refers to:

A. A system in which trade unions play a major role in the administration of unemployment insurance, contributing to high union density

B. Only government-run unemployment insurance with no union role

C. A pure market system without any unions

D. Only private insurance markets

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Correct Answer: Option A

Explanation:
The Ghent system, historically associated with certain Nordic and Low Countries, links unemployment benefits to union membership or administration, thereby providing a selective incentive for workers to join unions.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'shoe-leather cost' of inflation refers to:

A. cost of imports

B. cost of holding less cash and making more frequent trips to banks

C. cost of unemployment

D. cost of buying shoes

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Correct Answer: Option B

Explanation:
Shoe-leather cost is the cost associated with reducing money holdings to avoid inflation.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Trusteeship Council' is one of the principal organs of:

A. Commonwealth

B. WTO

C. United Nations

D. SAARC

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Correct Answer: Option C

Explanation:
The Trusteeship Council is one of the six principal organs of the United Nations.

This question belongs to: Economy GK Economy Set 1

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