The 'Consumer Expenditure Survey' is used primarily to: MCQ with Answer and Explanation

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The 'Consumer Expenditure Survey' is used primarily to:

A. set interest rates

B. calculate foreign reserves

C. regulate banks

D. update weights in price indices and estimate poverty

Answer: Option D

Solution (By JKSSB Mock Tests)

Consumer expenditure surveys provide data for updating price index weights and poverty estimates.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Lokpal' in India is a:

A. statutory body

B. constitutional body

C. judicial body

D. private body

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Correct Answer: Option A

Explanation:
Lokpal is a statutory body established under the Lokpal and Lokayuktas Act, 2013.

This question belongs to: Economy GK Economy Set 1

Question #2

During inflation, the purchasing power of money:

A. first increases then decreases

B. decreases

C. increases

D. remains unchanged

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Correct Answer: Option B

Explanation:
Inflation reduces the purchasing power of money because each unit buys fewer goods.

This question belongs to: Economy GK Economy Set 1

Question #3

External benchmark linked lending rates require banks to link retail and MSME loans to:

A. fixed deposit rate

B. external benchmarks such as repo rate or Treasury bill yield

C. base rate only

D. MCLR only

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Correct Answer: Option B

Explanation:
Banks link retail and MSME loans to external benchmarks such as the repo rate or Treasury bill yields.

This question belongs to: Economy GK Economy Set 1

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