Cost-push inflation is primarily caused by: MCQ with Answer and Explanation

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Cost-push inflation is primarily caused by:

A. reduction in taxes

B. excessive consumer demand

C. rise in input costs such as wages and raw materials

D. increase in imports

Answer: Option C

Solution (By JKSSB Mock Tests)

Cost-push inflation arises from an increase in the cost of production.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Dunkel Draft' was associated with:

A. human rights

B. climate change

C. GATT/WTO negotiations

D. IMF reforms

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Correct Answer: Option C

Explanation:
The Dunkel Draft was a proposal by Arthur Dunkel that formed the basis of the Uruguay Round agreement.

This question belongs to: Economy GK Economy Set 1

Question #2

Tenancy reforms in India primarily aim to:

A. increase rent burden on tenants

B. abolish all tenancy

C. provide security of tenure and fair rent to tenants

D. increase landowner rights only

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Correct Answer: Option C

Explanation:
Tenancy reforms aim to provide security of tenure and fair rents to tenants.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax (Compensation to States) Act' was passed in which year?

A. 2017

B. 2016

C. 2018

D. 2015

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Correct Answer: Option A

Explanation:
The GST Compensation to States Act was passed in 2017.

This question belongs to: Economy GK Economy Set 1

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