Deflation is best defined as: MCQ with Answer and Explanation

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Deflation is best defined as:

A. a decrease in the rate of inflation

B. a rise in unemployment

C. a sustained fall in the general price level

D. a fall in GDP

Answer: Option C

Solution (By JKSSB Mock Tests)

Deflation is a sustained fall in the general price level.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a feature of the Indian monetary system?

A. Fixed exchange rate without any intervention

B. Managed floating exchange rate with inflation targeting

C. Complete free floating without RBI role

D. Gold standard

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Correct Answer: Option B

Explanation:
India follows a managed floating exchange rate regime and has adopted a flexible inflation targeting framework for monetary policy.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'multidimensional poverty index' considers how many equally weighted dimensions?

A. Five

B. Two

C. Ten

D. Three

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Correct Answer: Option D

Explanation:
MPI has three equally weighted dimensions: health, education and standard of living.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'National Career Service' portal is an initiative of:

A. Ministry of Finance

B. Ministry of Education

C. NITI Aayog

D. Ministry of Labour and Employment

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Correct Answer: Option D

Explanation:
National Career Service is an initiative of the Ministry of Labour and Employment.

This question belongs to: Economy GK Economy Set 1

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