The 'core inflation' measure excludes: MCQ with Answer and Explanation

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The 'core inflation' measure excludes:

A. food and fuel

B. imports

C. services

D. manufactured goods

Answer: Option A

Solution (By JKSSB Mock Tests)

Core inflation excludes volatile food and fuel prices.

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 Classical model of the economy?

A. Sticky wages and prices

B. Possibility of liquidity trap

C. Flexible wages and prices ensuring continuous full employment

D. Importance of aggregate demand in determining output

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Correct Answer: Option C

Explanation:
The Classical model assumes flexible wages and prices that adjust continuously to maintain full employment equilibrium.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Appropriation Bill' is passed by Parliament to:

A. declare war

B. authorize withdrawal of funds from the Consolidated Fund of India

C. regulate banks

D. impose new taxes

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Correct Answer: Option B

Explanation:
The Appropriation Bill allows the government to withdraw funds from the Consolidated Fund of India.

This question belongs to: Economy GK Economy Set 1

Question #3

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MSME classification in India is based on:

A. location only

B. investment in plant and machinery or equipment and turnover

C. number of employees only

D. export earnings

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Correct Answer: Option B

Explanation:
MSMEs are classified based on investment in plant and machinery/equipment and annual turnover.

This question belongs to: Economy GK Economy Set 1

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