Financialization of household savings - solutions implied
Question
Regarding the financialization of household savings, which of the following statements best reflect the solutions that are implied by the passage?
Options
1 and 2 only
2 and 3 only
1 and 3 only
1, 2 and 3
Explanation
Analyze the structural hurdles listed in the text to determine the implied solutions: the barriers include "onerous bureaucracy" (which implies a need for a flexible environment, validating Statement 1) and "a lack of basic information about which... is best for each family" (which implies a need for family-specific or customized solutions, validating Statement 2). Statement 3 explicitly prescribes "innovations in financial technology" (FinTech). While real-world intuitive, the passage focuses purely on informational, structural, and bureaucratic changes, making no mention of digital or technological tools. Thus, only 1 and 2 are supported.
Answer: (a).
Question details
Year
2023
Paper
CSAT
Question
Q62
Section
Reading Comprehension
Sub-topic
Economy passage
Type
RC - Corollary inference
Difficulty
Medium
Source hint
Passage-based comprehension
Same sub-topic — other years
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