In the context of inflation, 'Core Inflation' excludes: MCQ with Answer and Explanation

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In the context of inflation, 'Core Inflation' excludes:

A. Manufactured goods prices

B. Housing prices

C. Service prices

D. Food and fuel prices

Answer: Option D

Solution (By JKSSB Mock Tests)

Core inflation is a measure of inflation that excludes volatile items such as food and fuel prices to give a better picture of underlying inflation trends.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'original sin' problem in international finance refers to:

A. currency depreciation

B. trade deficits

C. high domestic debt

D. inability of emerging economies to borrow abroad in their own currency

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Correct Answer: Option D

Explanation:
Original sin is the inability of emerging economies to borrow abroad in their own domestic currency.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Reverse Charge Mechanism' under GST shifts the tax liability to:

A. recipient

B. supplier

C. government

D. GST council

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Correct Answer: Option A

Explanation:
Under reverse charge, the recipient of goods or services pays the tax.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'rate of inflation' is measured as:

A. change in money supply

B. change in exchange rate

C. change in price level over time divided by current price level

D. percentage change in price index from one period to another

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Correct Answer: Option D

Explanation:
Inflation rate is the percentage change in a price index from one period to the next.

This question belongs to: Economy GK Economy Set 1

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